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  1. #1
    Join Date
    Feb 2008
    Posts
    17,486

    Job Offer: Crazy to turn it down?

    I'll keep this relatively short:

    Was one of the first ten employees for this start up software company for a little under 3 years. I've technically been a Software / Operational QA Analyst that has overseen the development and manual testing of the platform. With a start up, I've had far more responsibilities than my title would suggest, i.e plenty of say in enhancements, process improvements, and direction of the platform. This start up company is privately owned and has evolved into the technical team creating multiple platforms for the owner. I have 20k stock options for the main company that was being built initially and could see them selling in the next 2 years (retainer pay?).

    The last 8 months I moved over to the operational team as a project manager (without a real role change technically) as the head of operations was on material leave for part of it. The operational team was rather unstable and that turned into a summer of long hours. I blew that out of the water and parlayed that into two 5 grand raise increases spread over 6 months.

    I knew this wasn't something that I wanted to do long term and had to really put my foot in the dirt to transition back to software. Not a fan of the VP of operations who has a large say in the direction of the software and the entire company is extremely sales oriented.

    New role is IT Business Analyst for a bank that I turned down initially. They contacted me again and increased the offer by $1,000. Overall it's 11 grand increase (about 9.5 after city tax), 5 more days off (+additional holidays), matching part of 401k, etc.

    I'm worried about a few scenarios:
    • Transition during Pandemic
    • The bank is located in the city where I'll have to take the speed-line
    • Long term worried that the bank will push this platform and do the usual 6-12 month maintenance, but after that?
    • Leaving the potential upside of the start up company
    • Patience to wait for additional offers / State of the economy


    I'm starting to think that I should definitely make a transition, but I'm having a hard time deciding if this is the right time to make that leap. I'd expect at my current place that it'll be hard to push for another raise, extra days off, or have the role change put on paper.

  2. #2
    Join Date
    Feb 2005
    Location
    South Dakota
    Posts
    12,521
    I'm guessing by all this that you're younger...or at least nowhere near retirement (I'm 64 so most all of the workforce is younger than me at this point)....and, depending on your strengths, someone in your line of work generally always has solid options available (programming partner of mine in my sports game basically works ONLY contracts).

    I'll grant you, the pandemic would make me think if it meant using public transportation...hard for me to fathom tho given I literally live a block from my office and in a town of 700 people. Other than that aspect, I don't know that the pandemic should impact your decision.

    As with any major change, it can be valuable to just sit down and actually write down the pros and cons of each scenario; quite often one of them will feel more correct than the others just by completing that exercise.

    Another thing I do when thinking of a job change is to try and envision myself IN the new position, thinking about the changes in my schedule, commute, daily tasks, work environment...all of it. Does that feel better than my perception of the same things should I stay where I am?

    More money is nice, but I've given up money in the past to work in a more comfortable/enjoyable/stress-free situation. If that VP gives you reason to make the move, getting more money is more the bonus than the reason.

    Sometimes just the very fact you're questioning whether to make a move is the reason it may be a good idea. I don't know how you came about the offer, but if you went after it, there was likely a reason. The economy is less likely to effect a bank than a startup.

    Good luck! As someone who just made a big change at the beginning of all this, I know the wrestling going on within.
    gotta love 'referential' treatment

  3. #3
    Join Date
    Sep 2012
    Location
    Modesto
    Posts
    2,616
    What are the duties of a IT Business Analyst? How does the position generate revenue or save costs?

    How immune is the bank from an economic downturn in the next 24-36 months?

    How liquid is the bank?

    Is it a local, regional or national bank?

    What happened to the person in that position in 2007-2009 employment and pay and benefit wise?

    What happens to your stock options if you quit?

    Is this sweat equity you are walking away from?

    We have done a lot of work for various startups over the years. I know quite a few people that have done really well over the years both professionally and financially by sticking with a startup. Everybody in a startup learns to delegate as the grown and lots of personalities change and learn to adapt.

    I guess the real question is whats the long term value of what you are walking away from?
    Have you thought about approaching the VP or the owner and and having a conversation on what they see and where you will be in the future and that you are looking at an offer but would prefer to stay if .... your reasons.

    I know lots of bankers that banks shift focus, take a hit and change lending guidelines so people move to other banks because they take a pay hit or their work goes away. I know about 5 local bankers from 2 or 3 different banks over the years that I was there customer and they moved me on with a refocus and now they are at a different bank and knocking on the door.

    Will you be needed if the bank changes market focus / types of loans, gets restricted by the FED or some other external cause.

    Me, I would try and get where I work to make me happy before I jumped ship.

    Personally banks go through lots of economic change and the simplest way to increase margins is reduction to staff or wages or programs, and back of house jobs are easier to reduce as they don't bring money in the door today.

    I wouldn't want to work there unless I knew I was in a job resistant to economic change which requires more questions, some they may not answer.

    If they are a public bank see where their assets are invested and who the big loans are to. You can do your own personal risk assessment.
    "He's getting the best job in baseball."

    Bruce Bochy sent a clear message to whoever will be the Giants' next manager
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  4. #4
    Join Date
    Sep 2012
    Location
    Modesto
    Posts
    2,616
    I guess my other thought is a bank is typically a formally structured environment so will you be comfortable in that environment?
    "He's getting the best job in baseball."

    Bruce Bochy sent a clear message to whoever will be the Giants' next manager
    🙌
    https://bit.ly/2ndI9eG

  5. #5
    Join Date
    Feb 2008
    Posts
    17,486
    Quote Originally Posted by SiteWolf View Post
    I'm guessing by all this that you're younger...or at least nowhere near retirement (I'm 64 so most all of the workforce is younger than me at this point)....and, depending on your strengths, someone in your line of work generally always has solid options available (programming partner of mine in my sports game basically works ONLY contracts).

    I'll grant you, the pandemic would make me think if it meant using public transportation...hard for me to fathom tho given I literally live a block from my office and in a town of 700 people. Other than that aspect, I don't know that the pandemic should impact your decision.

    As with any major change, it can be valuable to just sit down and actually write down the pros and cons of each scenario; quite often one of them will feel more correct than the others just by completing that exercise.

    Another thing I do when thinking of a job change is to try and envision myself IN the new position, thinking about the changes in my schedule, commute, daily tasks, work environment...all of it. Does that feel better than my perception of the same things should I stay where I am?

    More money is nice, but I've given up money in the past to work in a more comfortable/enjoyable/stress-free situation. If that VP gives you reason to make the move, getting more money is more the bonus than the reason.

    Sometimes just the very fact you're questioning whether to make a move is the reason it may be a good idea. I don't know how you came about the offer, but if you went after it, there was likely a reason. The economy is less likely to effect a bank than a startup.

    Good luck! As someone who just made a big change at the beginning of all this, I know the wrestling going on within.
    I'm about to be 26 and this was actually my first work experience. I did some programming in college and wish I would have kept up with it. I could definitely dive back into that, but I'd have some ground to make up.

    They have said that it will be all remote work until around August and then 2-3 days potentially in the office from that point forward.

    I've been wrangling them around in my head, but took the time to write down the pros and cons for each side. The start up has always been real laid back in most regards, but the culture still drives a highly productive team. The operational team is still a little understaffed so things are sometimes chaotic/rush requests/needs further organization, but the business definitely has been growing. I'm a fairly terrible morning person so my current work doesn't really have me start until 9:30-9:45, but It'd be more like 9:00 at the bank. It's about a 30 min speed line ride and then a 10-15 minute walk.

    For me, it's basically come down to: I think it's the right move to make a leap right now, but am unsure if the bank is the best potential opportunity. It's the first offer so it may be partly that. I had some other interviews that have been in a holding pattern due to COVID.

    Appreciate the advice

  6. #6
    Join Date
    Aug 2007
    Location
    IL
    Posts
    25,712
    If you're fine financially I would put quality of life far and away as the number one priority. How often, and how long is the commute? Do you like your manager and coworkers? How is the work culture? If it passes those tests along with the obvious financial incentive, you're on the right path.

    Now you have to determine if the career is stable.

    You're in IT and in a bank... I'd venture to guess you're ok on that front.


    Good luck!

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    Hope to see some new posters around here soon.

  7. #7
    Join Date
    Apr 2009
    Location
    Central Iowa
    Posts
    4,116
    If you are comfortable where you are, stay. You can't live your life looking back on "what ifs". You have to do what feels right. I am going to be retiring from nursing this year, as it is just getting too difficult physically, but have no regrets as to the job choices I have made in my past. I will likely find something else to do to occupy my time and pay a few of my bills.
    Good luck.

  8. #8
    Join Date
    Nov 2009
    Location
    Metroplex
    Posts
    2,753
    Hard question to answer. What is your ultimate goal? Is it to continue to move up an parlay every position into a higher potential position within a couple of years? If that is the case then moving every few years into carefully picked positions may be the best way to go. If it is pure comfort level and familiarity then perhaps the devil you know is advantageous. Probably not a perfect one size fits all answer to your question.

  9. #9
    Join Date
    Jul 2020
    Location
    Ha Noi
    Posts
    3
    If you don't like your job maintenance, you can select a few jobs until you find a suitable one. This month, I decided quit my job and find a new job, too

  10. #10
    Join Date
    Aug 2020
    Posts
    1
    I also decided to change my job but now I play the online casinos with free sign up bonus because here I earn money and don`t spend my time.

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