When to change employers/ companies?

IM3000

Pelican
I have been at my current job for just shy of 4 years. The setup is quite cushy as I work from home. The pay is good (considering the workload), my boss and my team are great. It's a mid-size company with about 500 employees. Overall, I like working for the company and don't have too many complaints. However, things have gotten a little boring and I'm more or less coasting. The learning curve has been pretty flat for a while now and I feel rather annoyed than challenged at work.

Now, I have been approached by a much larger player in a related field (~4k employees). I already interviewed with them and they basically want to snatch me from my current job. Pay would be around 15% better, they offer a 401k and some additional benefits. The position would be similar to my current one but the projects are way bigger (max. 120 mio. USD vs 2 bil. USD). Also, I'd need to do some additional training in order to work in a new jurisdiction which is something that I'd welcome.

As I wrote above, my current job has a lot of things going for it. It's difficult to imagine a better boss and team. Plus, while the Covid-madness has also infected the minds of some employees, it has not reached peak insanity and probably never will. On the other hand, I'm in my prime earning years (late 30s) and I feel like I'm stagnating and need new input to advance my career.

My question is this: How do/did you decide on changing your employer? What factors should I look at, but am currently not.
 

Jive Turkey

Woodpecker
I would not leave if I were in your shoes. A family member was in their same position at a large operation for a decade, not in management and we're finally approached for a promotion. They accepted. Their workload and stress has increased dramatically. I can tell they are tired and less satisfied with work.

15% more income isn't going to make a big impact on your lifestyle or enjoyment. 15% more hours worked per week or more certainly would. Life is not just about earning money and working and climbing the money ladder. Spend time with friends and family, enjoy what you have. Maybe if you are saving for a homestead and this is a temporary thing I could see it making sense, but overall you seem to be in a really good position. I would not leave a good boss and a good company for a meager raise.
 

mgill0600

Pigeon
I just recently made a change in employers myself for similar reasons.

Things I would consider:
Are you looking to continue to coast and ride out this cush gig to retirement?
Do you have good performance reviews?
Are you well liked and have a good reputation at your current employer?
Is promotion to leadership or moving into a new role at the existing employer possible?

In my case, I was like you said, tired and annoyed with the work, and it was affecting my attitude which in time would have affected my reputation. My goal was to move into a management role and while COVID derailed everyone's plans, my leadership was supportive but could not give me a clear plan and timeline for promotion to a leadership role, after waiting it out a year to see if things would change, I took a new job for a roughly 15% pay increase.

That said, a 15% pay bump is not always worth trading in your years of goodwill and reputation to start over with a new employer. Like it or not, playing the politics game matters and you have to prove yourself all over again. However if you are tired of the work, and their appears to be no opportunity to do something new or advance to a more senior or leadership role, it might be time to move on.

These are all my personal opinions of course, would be interested to hear thoughts from others.
 

inthefade

Robin
Orthodox Inquirer
I have been at my current job for just shy of 4 years. The setup is quite cushy as I work from home. The pay is good (considering the workload), my boss and my team are great. It's a mid-size company with about 500 employees. Overall, I like working for the company and don't have too many complaints. However, things have gotten a little boring and I'm more or less coasting. The learning curve has been pretty flat for a while now and I feel rather annoyed than challenged at work.

Now, I have been approached by a much larger player in a related field (~4k employees). I already interviewed with them and they basically want to snatch me from my current job. Pay would be around 15% better, they offer a 401k and some additional benefits. The position would be similar to my current one but the projects are way bigger (max. 120 mio. USD vs 2 bil. USD). Also, I'd need to do some additional training in order to work in a new jurisdiction which is something that I'd welcome.

As I wrote above, my current job has a lot of things going for it. It's difficult to imagine a better boss and team. Plus, while the Covid-madness has also infected the minds of some employees, it has not reached peak insanity and probably never will. On the other hand, I'm in my prime earning years (late 30s) and I feel like I'm stagnating and need new input to advance my career.

My question is this: How do/did you decide on changing your employer? What factors should I look at, but am currently not.
I'd stay where you are. Bigger company is going to have more bureaucratic nonsense and just make you more stressed. They'll probably have some kind of vaccine mandate as well.
 
I have been at my current job for just shy of 4 years. The setup is quite cushy as I work from home. The pay is good (considering the workload), my boss and my team are great. It's a mid-size company with about 500 employees. Overall, I like working for the company and don't have too many complaints. However, things have gotten a little boring and I'm more or less coasting. The learning curve has been pretty flat for a while now and I feel rather annoyed than challenged at work.

Now, I have been approached by a much larger player in a related field (~4k employees). I already interviewed with them and they basically want to snatch me from my current job. Pay would be around 15% better, they offer a 401k and some additional benefits. The position would be similar to my current one but the projects are way bigger (max. 120 mio. USD vs 2 bil. USD). Also, I'd need to do some additional training in order to work in a new jurisdiction which is something that I'd welcome.

As I wrote above, my current job has a lot of things going for it. It's difficult to imagine a better boss and team. Plus, while the Covid-madness has also infected the minds of some employees, it has not reached peak insanity and probably never will. On the other hand, I'm in my prime earning years (late 30s) and I feel like I'm stagnating and need new input to advance my career.

My question is this: How do/did you decide on changing your employer? What factors should I look at, but am currently not.
Half of Americans that are working can't afford to pay their rent. The fact that you have a job that is comfortable, stable and you generally like is a rarity in today's brutal labor market. Totally not worth thowing it away for 15% . Just live more frugal and buy bitcoin if you really need more money.
 

cosine

Robin
How do you know pay would be 15% better? Have you received an offer? Have you seen actual payrolls? They might pay you more than someone who already works there.

The quantity of open roles is massive. Employers are struggling to keep employees. Wages are going up, even if only to match inflation.

Why not get an offer, negotiate it higher as best you can, then present it to your current company and ask them to match it? Even if the new company doesn't agree to meet your demands, they'll almost certainly respect you for asking. In the event that you do get a strong offer from company #2, say it's 30% more pay, and your current company doesn't try to counteroffer at all, then that would make quite the impression on me.
 

IM3000

Pelican
How do you know pay would be 15% better? Have you received an offer? Have you seen actual payrolls? They might pay you more than someone who already works there.

The quantity of open roles is massive. Employers are struggling to keep employees. Wages are going up, even if only to match inflation.

Why not get an offer, negotiate it higher as best you can, then present it to your current company and ask them to match it? Even if the new company doesn't agree to meet your demands, they'll almost certainly respect you for asking. In the event that you do get a strong offer from company #2, say it's 30% more pay, and your current company doesn't try to counteroffer at all, then that would make quite the impression on me.
Yes, they have sent the offer already. And yes, I did just what described. I took it to my employer and they matched it. Consequently, I declined the offer from the new job but they re-approached me with a better one. It would be difficult to go back to my boss and get another raise this way. Pushing the envelope a little too hard for my taste.
 

IM3000

Pelican
I just recently made a change in employers myself for similar reasons.

Things I would consider:
Are you looking to continue to coast and ride out this cush gig to retirement?
Do you have good performance reviews?
Are you well liked and have a good reputation at your current employer?
Is promotion to leadership or moving into a new role at the existing employer possible?

In my case, I was like you said, tired and annoyed with the work, and it was affecting my attitude which in time would have affected my reputation. My goal was to move into a management role and while COVID derailed everyone's plans, my leadership was supportive but could not give me a clear plan and timeline for promotion to a leadership role, after waiting it out a year to see if things would change, I took a new job for a roughly 15% pay increase.

That said, a 15% pay bump is not always worth trading in your years of goodwill and reputation to start over with a new employer. Like it or not, playing the politics game matters and you have to prove yourself all over again. However if you are tired of the work, and their appears to be no opportunity to do something new or advance to a more senior or leadership role, it might be time to move on.

These are all my personal opinions of course, would be interested to hear thoughts from others.
I do have good performance reviews, a good reputation among my colleagues and my boss trusts me. My network at the current gig is also pretty strong.

Doing this job until retirement is not something that I'd want and since my job is very specialized and will always be necessary, it won't be possible to switch. Maybe if the company keeps growing, I'd become team leader but there is definitely a ceiling or like Elon Musk calls it, a local maximum and I have about reached it.

It is true that gaining trust from a new boss and company sucks. It'll suck even more doing it remotely without seeing the other people. Networking within a organization is crucial and I can imagine how challenging it would be under the current circumstances.
 

bubs

Sparrow
Good decision. I was going to recommend to stay put as well. Having free time and idle mind to be creative is a blessing. Use it to come up with a side hussle, pursuing hobbies, passions etc. much betting than being stressed out and having your mind fully engrossed into your work 24-7.
 

The Beast1

Peacock
Gold Member
I decided to stay put and declined the new offer. Thanks for chiming in everyone.
This was a smart decision. Normally I'd applaud jumping ship for more money but things really are going to get worse before they get better. Get guns, ammo, a passport, crypto, and precious metals all from the comfort of your home.
 

nordle

Pigeon
I had a "coasting" remote job and I took on a similar coast-able remote job. Now I work 2 at the same time, double the money (although income tax is >50% here in Ireland).
 

mgill0600

Pigeon
I had a "coasting" remote job and I took on a similar coast-able remote job. Now I work 2 at the same time, double the money (although income tax is >50% here in Ireland).
I like this idea, do both employers know you have a 2nd job? I tried to do something similar but I'm in tech and most tech companies employment contracts prohibit a similar or full time 2nd job. Plus LinkedIn is almost a requirement in recruiting so it's not exactly something that's easy to "don't ask, don't tell".
 

bubs

Sparrow
I like this idea, do both employers know you have a 2nd job? I tried to do something similar but I'm in tech and most tech companies employment contracts prohibit a similar or full time 2nd job. Plus LinkedIn is almost a requirement in recruiting so it's not exactly something that's easy to "don't ask, don't tell".
Yeah 2 jobs to 2 employers is probably going to get you in trouble. Having a side hussle plus a coasting job low hrs is the way to go, or a good opportunity to transition to a self employed business. A friend of mine did this. He was working a BS administrative job for the Federal Govt, turned an 8 hr workday and could get everything done in 2-3 hrs a day and he was able to launch a business as a Bodybuilding promoter. Started a bodybuilding website and magazine etc as well. Quit the soul-sucking mind numbing gov job and ended up about 20+ years now self employed, owns 2 houses he paid in cash etc.
 

nordle

Pigeon
Yeah 2 jobs to 2 employers is probably going to get you in trouble. Having a side hussle plus a coasting job low hrs is the way to go
I spoke to my solicitor about this and he said that the worst trouble I can get in is that they both fire me. That's a risk I am willing to take, as I have managed 2 FTE jobs remotely in the past without incident.

I have a side hustle too. In fact, the vast majority of income from both jobs is going into buying ruined cottages in the countryside, renovating them, then renting them out. I would never sell something as valuable as land or property for something so valueless as cash. I wouldn't trade priceless time for dollars or euros that are being so rapidly debased. But I would trade it for a portfolio of performing property which my family will inherit.
 
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