Biggest career decision of my life this week (1 Viewer)

[Fennis]

Whether it's true or not, sales guys love to complain about engineering when they can't/don't hit their quota. I vote for going to the new company, before the current one decides a new VP is needed to put together a team to hit reach their numbers, even if there are deeper issues.

In my experience, most startups talk about IPOs to prep for acquisition, not to really go public.

 

[Henry Ford]

How much is the equity worth?

 

[Judge Smails]

Can you not go back to your current employer and tell them you have a better offer? Are you expendable? Would they match (or at least shrink the comp gap)?

Im 40 and I think about leaving all the time but for me it always comes down to culture. Im happy at my job and couldnt risk it for more money elsewhere unless I knew Id be equally content.

As for driving an hour each way everyday, no friggen way

Well, this is not FBG ego but they will part seas to try and keep me. We have a mandate on our Leadership team that SVP's are responsible for retaining all A players. We know who they are. We force/stack rank our entire company at least twice a year. I'm the highest rated guy in sales/sales leadership. I report to the CEO. So he's responsible for keeping me. He and others on the board (private equity) will try to talk me out of it, see what else they can do to keep me, etc. Besides what I bring to the table, they can easily explain away a B player leaving on their own - but it's a bad message when an A player leaves. Especially one with known big equity. "If he left, why in the hell am I staying?"

The problem is this isn't just about money. It's about a gut feeling that the company is going to get worse before it gets better in terms of code. Customers leaving. Reputation sours. Can't look people in the eye who trusted you. We are always being told that the light at the end of the tunnel is 6 months away. So I've been through 8 of those 6 month cycles, and it's still a cluster. So am I going to hang on for the dream of a big payday with blinders on to what I know is the present state of the company?

As for culture - I couldn't agree with you more. No amount of money is worth being miserable. Life is too short. That's why I'm spending so much time getting a feel for culture. I've boomeranged back to a company before when I made a bad decision, but I've also moved before and it's been the absolute right decision.

I have lunch with the EVP on Monday. I'll know about options and commuting then. Hey - I have to drive to LAX anyway to travel. If I can get it to once or twice a week I'm perfectly OK with it. Just not 80-100% of the time.

If they bumped me it would through the whole salary structure of the company out of whack.

 

[Judge Smails]

How much is the equity worth?

$500K-2M+. All depends on what the company would sell for. If it sells for 3X what the private equity company bought it for I'll get 800K. 5X - 2M. Or they could dump it for whatever if we prove to be a dog. We're talking a pretty reliable 70M/year business.

 

[Judge Smails]

GL Smails.

on the home office/commute issue, don't make light of it. it's not as important as some of the other considerations, but you still have to think about how it will affect you, both on the job and in your home life. a couple years ago working for a consulting company, I spent 2.5-3 hours a day on the road after spending 20 minutes or less for many years. the worst part is that it wasn't that far, only from the west valley down to Wilshire & back. but it still took 1-1.5 hours each way. by the time I got home every day, I was so miserable that I didn't want to do anything. the SoCal traffic will beat you down.

if you commute an average of 2 hours a day, that's 1 month out of every year that you'll be on the road for work.

I hear you. I would be doing Thousand Oaks to Santa Monica via PCH.

 

[fasteddie_21]

Wow, good luck. Sick life that you can contemplate turning down over $100k bump/year.

 

[shadyridr]

Yeah i feel like only chet and otis can give you advice here

 

[Judge Smails]

Whether it's true or not, sales guys love to complain about engineering when they can't/don't hit their quota. I vote for going to the new company, before the current one decides a new VP is needed to put together a team to hit reach their numbers, even if there are deeper issues.

In my experience, most startups talk about IPOs to prep for acquisition, not to really go public.

This is an EXCELLENT post. We are actually growing the business, including critical subscription revenue. The PE firm views Sales as high performing. They haven't touched us. Our CEO has said that for some they will get too soured to slog through yet another batch of poor installs while we fix this, and we have to look to replace those people, even if they were stars before. That's not me yet - but could be. This is really my decision now though - can I get fired up again mentally? I have a guy on my team who sold $17M and $11M in back to back years (records), yet he's so bitter we may have to manage him out. I get it.

We aren't a startup. 70M revenue. It's a hot space. One company that recently went public had 13M in sales bookings last year and was worth 3.4 BILLION after opening day of their IPO (since slacked but valued at 1.4B or so). We'd all rather be acquired. Immediate vesting, no waiting period, etc. Much cleaner. It will be whatever is the best exit. These PE guys are sharp.

 

[Otis]

If you're right about the direction of the company--and you'd know better than anyone--that equity should value on the low end. You make that 500k equity up relatively quickly at the new job. You get a new challenge at a new place. In part I'm probably projecting here, as I wish I had the balls to make a move like this, but it sounds awful tempting in your situation. I don't care to ask about the details, because it's impolite to ask what you make, but if it's me, a big factor would be what percentage increase on my current salary is that 100k? If you make 200k and it's a 50% increase, that's pretty damn nice. If you make 600k, it starts to become less important (then again, so does the equity...). And so on.

Bottom line, you got to where you are in life by trusting and following your gut. Do that here. If your gut is telling you it's the right time and the place is on the decline, you might think long and hard about making the move and go for it.

Last factor for me would be age/situation in life. I forget how old Smalls is. If you're 60 and on the brink of retirement with kids getting into college, maybe you can't afford the risk. If you're 42 with younger kids, that would have me leaning towards making the jump.

Good luck either way, sounds exciting. Overall, I make the plunge. But it's way, way, way easier to say that from the sidelines.

 

[Otis]

Whether it's true or not, sales guys love to complain about engineering when they can't/don't hit their quota. I vote for going to the new company, before the current one decides a new VP is needed to put together a team to hit reach their numbers, even if there are deeper issues.

In my experience, most startups talk about IPOs to prep for acquisition, not to really go public.

This is an EXCELLENT post. We are actually growing the business, including critical subscription revenue. The PE firm views Sales as high performing. They haven't touched us. Our CEO has said that for some they will get too soured to slog through yet another batch of poor installs while we fix this, and we have to look to replace those people, even if they were stars before. That's not me yet - but could be. This is really my decision now though - can I get fired up again mentally? I have a guy on my team who sold $17M and $11M in back to back years (records), yet he's so bitter we may have to manage him out. I get it.

We aren't a startup. 70M revenue. It's a hot space. One company that recently went public had 13M in sales bookings last year and was worth 3.4 BILLION after opening day of their IPO (since slacked but valued at 1.4B or so). We'd all rather be acquired. Immediate vesting, no waiting period, etc. Much cleaner. It will be whatever is the best exit. These PE guys are sharp.

One question--with all the insane levels of activity we're seeing on the M&A and VC areas right now, why haven't you all be picked up already? Google et al. will throw 50MM at anything with a pulse these days. Just another factor. If it's not happening now, and not even serious talks happening now, maybe you can't count on it.

 

[Judge Smails]

Yeah i feel like only chet and otis can give you advice here

Not at all. Appreciate everyone's perspective here. The money is just one factor, and it's all relative. I'm going through paying 3 kids through college, live in a high cost area, etc. Lots of people here have better balance sheets than me - trust me. And it's about happiness anyway. This is just one of those tough decisions. I know I'm fortunate to have the choice.

 

[Judge Smails]

Whether it's true or not, sales guys love to complain about engineering when they can't/don't hit their quota. I vote for going to the new company, before the current one decides a new VP is needed to put together a team to hit reach their numbers, even if there are deeper issues.

In my experience, most startups talk about IPOs to prep for acquisition, not to really go public.

This is an EXCELLENT post. We are actually growing the business, including critical subscription revenue. The PE firm views Sales as high performing. They haven't touched us. Our CEO has said that for some they will get too soured to slog through yet another batch of poor installs while we fix this, and we have to look to replace those people, even if they were stars before. That's not me yet - but could be. This is really my decision now though - can I get fired up again mentally? I have a guy on my team who sold $17M and $11M in back to back years (records), yet he's so bitter we may have to manage him out. I get it.

We aren't a startup. 70M revenue. It's a hot space. One company that recently went public had 13M in sales bookings last year and was worth 3.4 BILLION after opening day of their IPO (since slacked but valued at 1.4B or so). We'd all rather be acquired. Immediate vesting, no waiting period, etc. Much cleaner. It will be whatever is the best exit. These PE guys are sharp.

One question--with all the insane levels of activity we're seeing on the M&A and VC areas right now, why haven't you all be picked up already? Google et al. will throw 50MM at anything with a pulse these days. Just another factor. If it's not happening now, and not even serious talks happening now, maybe you can't count on it.

Agree. But when it's going to take 400 Million the field narrows. Less deals (outside of pharma) at those levels in healthcare. They do happen - but you have got to be a hot commodity.

 

[Slapdash]

Yeah i feel like only chet and otis can give you advice here

Not at all. Appreciate everyone's perspective here. The money is just one factor, and it's all relative. I'm going through paying 3 kids through college, live in a high cost area, etc. Lots of people here have better balance sheets than me - trust me. And it's about happiness anyway. This is just one of those tough decisions. I know I'm fortunate to have the choice.

. How does losing two to three hours a day to commuting impact your happiness? It would make mine a lot less, but everyone is different.

 

[Spike]

Good luck, GBJS

This

+1

 

[djmich]

Misery loves company...glad to see there are others trapped in a tight equity spot from a PE buyout. 6yrs into my adventure, finally see a light at end of tunnel (1-2yrs)

Holding the commute aside I'd say get the hell out if you don't believe in the company and the management I've been there and u end up just being a miserable #######. Get out before you sink in more time if you have a somewhat comparable opportunity...at least that's my two cents.

 

[Judge Smails]

If you're right about the direction of the company--and you'd know better than anyone--that equity should value on the low end. You make that 500k equity up relatively quickly at the new job. You get a new challenge at a new place. In part I'm probably projecting here, as I wish I had the balls to make a move like this, but it sounds awful tempting in your situation. I don't care to ask about the details, because it's impolite to ask what you make, but if it's me, a big factor would be what percentage increase on my current salary is that 100k? If you make 200k and it's a 50% increase, that's pretty damn nice. If you make 600k, it starts to become less important (then again, so does the equity...). And so on.

Bottom line, you got to where you are in life by trusting and following your gut. Do that here. If your gut is telling you it's the right time and the place is on the decline, you might think long and hard about making the move and go for it.

Last factor for me would be age/situation in life. I forget how old Smalls is. If you're 60 and on the brink of retirement with kids getting into college, maybe you can't afford the risk. If you're 42 with younger kids, that would have me leaning towards making the jump.

Good luck either way, sounds exciting. Overall, I make the plunge. But it's way, way, way easier to say that from the sidelines.

I'm 52. 1 kid out of college, 1 in 1 more semester, another has 2 full years. But I'm pretty much covered with 529's. Will have weddings to pay for though! I'm looking at trying to bank as much as possible in 8-10 years so I can make Dentist proud. The raise would be 50-70% in base salary, and a realist 1.5-2X in total comp

 

[Spike]

If you're right about the direction of the company--and you'd know better than anyone--that equity should value on the low end. You make that 500k equity up relatively quickly at the new job. You get a new challenge at a new place. In part I'm probably projecting here, as I wish I had the balls to make a move like this, but it sounds awful tempting in your situation. I don't care to ask about the details, because it's impolite to ask what you make, but if it's me, a big factor would be what percentage increase on my current salary is that 100k? If you make 200k and it's a 50% increase, that's pretty damn nice. If you make 600k, it starts to become less important (then again, so does the equity...). And so on.

Bottom line, you got to where you are in life by trusting and following your gut. Do that here. If your gut is telling you it's the right time and the place is on the decline, you might think long and hard about making the move and go for it.

Last factor for me would be age/situation in life. I forget how old Smalls is. If you're 60 and on the brink of retirement with kids getting into college, maybe you can't afford the risk. If you're 42 with younger kids, that would have me leaning towards making the jump.

Good luck either way, sounds exciting. Overall, I make the plunge. But it's way, way, way easier to say that from the sidelines.

It's said that your initial impression is usually the right one. If your first thought was to switch, go with it.

 

[Native]

Can you not go back to your current employer and tell them you have a better offer? Are you expendable? Would they match (or at least shrink the comp gap)?

Im 40 and I think about leaving all the time but for me it always comes down to culture. Im happy at my job and couldnt risk it for more money elsewhere unless I knew Id be equally content.

As for driving an hour each way everyday, no friggen way

Well, this is not FBG ego but they will part seas to try and keep me. We have a mandate on our Leadership team that SVP's are responsible for retaining all A players. We know who they are. We force/stack rank our entire company at least twice a year. I'm the highest rated guy in sales/sales leadership. I report to the CEO. So he's responsible for keeping me. He and others on the board (private equity) will try to talk me out of it, see what else they can do to keep me, etc. Besides what I bring to the table, they can easily explain away a B player leaving on their own - but it's a bad message when an A player leaves. Especially one with known big equity. "If he left, why in the hell am I staying?"

The problem is this isn't just about money. It's about a gut feeling that the company is going to get worse before it gets better in terms of code. Customers leaving. Reputation sours. Can't look people in the eye who trusted you. We are always being told that the light at the end of the tunnel is 6 months away. So I've been through 8 of those 6 month cycles, and it's still a cluster. So am I going to hang on for the dream of a big payday with blinders on to what I know is the present state of the company?

As for culture - I couldn't agree with you more. No amount of money is worth being miserable. Life is too short. That's why I'm spending so much time getting a feel for culture. I've boomeranged back to a company before when I made a bad decision, but I've also moved before and it's been the absolute right decision.

I have lunch with the EVP on Monday. I'll know about options and commuting then. Hey - I have to drive to LAX anyway to travel. If I can get it to once or twice a week I'm perfectly OK with it. Just not 80-100% of the time.

If they bumped me it would through the whole salary structure of the company out of whack.

If you are in a PE's plans (and it sounds like you are), they are not going to let their top sales guy go because of $80K-$100K.

Given that quality of life does matter to you, maybe think about it this way. If money was OFF the table (i.e, your current company matched the competitor's total comp), would you still want to leave? If you really believe the ship is sinking and you want a new challenge irrespective of more money, then maybe its time to go. But if money really is the great equalizer, and youll stay with an improved package, than you should do everything in your power to convince the CEO to goto bat for you this week. I guess it really depends on your appetite to try something new at 52.

Good luck JS! Keep us posted.

 

[-jb-]

Huh. I'm in an interesting position because I know both of these companies and the space. With no circumstances involved, and there are many, I go with company B. That said, you've got some tough calls in terms of quality of life. For title purposes, does the amount of revenue your managing go up? How about span of control? That's what would matter to me more than the S, especially at your level. I see people move from V to C to S and back again constantly. I agree with Otis that I would take the W2 over the equity but LA commutes are the suck.

 

[cstu]

GL Smails.

on the home office/commute issue, don't make light of it. it's not as important as some of the other considerations, but you still have to think about how it will affect you, both on the job and in your home life. a couple years ago working for a consulting company, I spent 2.5-3 hours a day on the road after spending 20 minutes or less for many years. the worst part is that it wasn't that far, only from the west valley down to Wilshire & back. but it still took 1-1.5 hours each way. by the time I got home every day, I was so miserable that I didn't want to do anything. the SoCal traffic will beat you down.

if you commute an average of 2 hours a day, that's 1 month out of every year that you'll be on the road for work.

I hear you. I would be doing Thousand Oaks to Santa Monica via PCH.

Moving to SM an option?

 

[tonydead]

if you commute an average of 2 hours a day, that's 1 month out of every year that you'll be on the road for work.

I don't like you very much right now .

 

[Tau837]

Just read the whole thread. My guess is that you will work out not having to be in the office every day at the new company. Assuming that, my gut feel based on everything stated here is to make the move. In my experience, there is a certain reinvigoration that occurs when making a move, and that is a boost to quality of life that can offset some of the negative associated with the commute.

I have experienced the never occurring equity event at multiple companies, and I have also experienced a buyout that did not turn into the equity event that was expected for the senior management of my company. So I am definitely biased by my experience.

 

[Johnny Rock]

If they're not offering options at the beginning I doubt they would offer them later. Hold out on that and SVP (so you look at least lateral+ on paper). What do they care what your title is?

A Skype interview with the CEO is nice but any in-person interviews yet? I'd assume yes. The reason I ask is because as Johnnycakes said, culture is important. What's the feel at the office? Overlooking the ocean might help offset negative QOL issues somewhat.

The commute sounds like a beast but the negativity at the current place seems to be dragging you down. It may not get better and will likely get worse per the trending you mentioned.

One question JS. Where did this opportunity arise from? LinkedIn? B&M recruiter? Personal contacts? Resume put out there?

I'd lean toward leaving and I'm in a similar position.

 

[Baloney Sandwich]

If you do bolt, don't consider a counter offer

 

[msommer]

GL Smails.

on the home office/commute issue, don't make light of it. it's not as important as some of the other considerations, but you still have to think about how it will affect you, both on the job and in your home life. a couple years ago working for a consulting company, I spent 2.5-3 hours a day on the road after spending 20 minutes or less for many years. the worst part is that it wasn't that far, only from the west valley down to Wilshire & back. but it still took 1-1.5 hours each way. by the time I got home every day, I was so miserable that I didn't want to do anything. the SoCal traffic will beat you down.

if you commute an average of 2 hours a day, that's 1 month out of every year that you'll be on the road for work.

I hear you. I would be doing Thousand Oaks to Santa Monica via PCH.

Moving to SM an option?

That's what I'd seriously contemplate. Talk to the EVP on Monday and see if you can negotiate three of five days there and the rest from home. Then rent a small apartment close by where you spend two nights a week. Commute is reduced dramatically that way, at a cost, obviously

 

[johnnycakes]

GL Smails.

on the home office/commute issue, don't make light of it. it's not as important as some of the other considerations, but you still have to think about how it will affect you, both on the job and in your home life. a couple years ago working for a consulting company, I spent 2.5-3 hours a day on the road after spending 20 minutes or less for many years. the worst part is that it wasn't that far, only from the west valley down to Wilshire & back. but it still took 1-1.5 hours each way. by the time I got home every day, I was so miserable that I didn't want to do anything. the SoCal traffic will beat you down.

if you commute an average of 2 hours a day, that's 1 month out of every year that you'll be on the road for work.

I hear you. I would be doing Thousand Oaks to Santa Monica via PCH.

Moving to SM an option?

That's what I'd seriously contemplate. Talk to the EVP on Monday and see if you can negotiate three of five days there and the rest from home. Then rent a small apartment close by where you spend two nights a week. Commute is reduced dramatically that way, at a cost, obviously

Be sure to factor that into how much it dips into the step-up in compensation, too.

 

[cstu]

GL Smails.

on the home office/commute issue, don't make light of it. it's not as important as some of the other considerations, but you still have to think about how it will affect you, both on the job and in your home life. a couple years ago working for a consulting company, I spent 2.5-3 hours a day on the road after spending 20 minutes or less for many years. the worst part is that it wasn't that far, only from the west valley down to Wilshire & back. but it still took 1-1.5 hours each way. by the time I got home every day, I was so miserable that I didn't want to do anything. the SoCal traffic will beat you down.

if you commute an average of 2 hours a day, that's 1 month out of every year that you'll be on the road for work.

I hear you. I would be doing Thousand Oaks to Santa Monica via PCH.

Moving to SM an option?

That's what I'd seriously contemplate. Talk to the EVP on Monday and see if you can negotiate three of five days there and the rest from home. Then rent a small apartment close by where you spend two nights a week. Commute is reduced dramatically that way, at a cost, obviously

It sounded to me like his kids are all in college so I think it would be a great chance to leave Thousand Oaks for Santa Monica. Sure he'd have to get a smaller place for the same amount of money but if the kids are gone he doesn't need a huge place.

 

[tjnc09]

GL Smails.

on the home office/commute issue, don't make light of it. it's not as important as some of the other considerations, but you still have to think about how it will affect you, both on the job and in your home life. a couple years ago working for a consulting company, I spent 2.5-3 hours a day on the road after spending 20 minutes or less for many years. the worst part is that it wasn't that far, only from the west valley down to Wilshire & back. but it still took 1-1.5 hours each way. by the time I got home every day, I was so miserable that I didn't want to do anything. the SoCal traffic will beat you down.

if you commute an average of 2 hours a day, that's 1 month out of every year that you'll be on the road for work.

I hear you. I would be doing Thousand Oaks to Santa Monica via PCH.

you are definitely a FBG if you live in Thousand Oaks

 

[eoMMan]

Stay.

That commute sounds horrible.

And talk with your boss. Get a raise.

 

[metoo]

Orion Health? If so, do not waste your time.

 

[Judge Smails]

Huh. I'm in an interesting position because I know both of these companies and the space. With no circumstances involved, and there are many, I go with company B. That said, you've got some tough calls in terms of quality of life. For title purposes, does the amount of revenue your managing go up? How about span of control? That's what would matter to me more than the S, especially at your level. I see people move from V to C to S and back again constantly. I agree with Otis that I would take the W2 over the equity but LA commutes are the suck.

Yeah JB. You've got more scoop than the rest since we've met at industry conferences, so appreciate your feedback. Rev goes up. Span of control is probably neutral. Agree on the SVP/VP - it all depends on what size pond you're in, etc. Bigger, international companies don't dole out the S easily.

 

[Judge Smails]

Orion Health? If so, do not waste your time.

nope

 

[Otis]

If you're right about the direction of the company--and you'd know better than anyone--that equity should value on the low end. You make that 500k equity up relatively quickly at the new job. You get a new challenge at a new place. In part I'm probably projecting here, as I wish I had the balls to make a move like this, but it sounds awful tempting in your situation. I don't care to ask about the details, because it's impolite to ask what you make, but if it's me, a big factor would be what percentage increase on my current salary is that 100k? If you make 200k and it's a 50% increase, that's pretty damn nice. If you make 600k, it starts to become less important (then again, so does the equity...). And so on.

Bottom line, you got to where you are in life by trusting and following your gut. Do that here. If your gut is telling you it's the right time and the place is on the decline, you might think long and hard about making the move and go for it.

Last factor for me would be age/situation in life. I forget how old Smalls is. If you're 60 and on the brink of retirement with kids getting into college, maybe you can't afford the risk. If you're 42 with younger kids, that would have me leaning towards making the jump.

Good luck either way, sounds exciting. Overall, I make the plunge. But it's way, way, way easier to say that from the sidelines.

I'm 52. 1 kid out of college, 1 in 1 more semester, another has 2 full years. But I'm pretty much covered with 529's. Will have weddings to pay for though! I'm looking at trying to bank as much as possible in 8-10 years so I can make Dentist proud. The raise would be 50-70% in base salary, and a realist 1.5-2X in total comp

That's a hefty raise. Tough to pass up...

 

[Judge Smails]

If they're not offering options at the beginning I doubt they would offer them later. Hold out on that and SVP (so you look at least lateral+ on paper). What do they care what your title is?

A Skype interview with the CEO is nice but any in-person interviews yet? I'd assume yes. The reason I ask is because as Johnnycakes said, culture is important. What's the feel at the office? Overlooking the ocean might help offset negative QOL issues somewhat.

The commute sounds like a beast but the negativity at the current place seems to be dragging you down. It may not get better and will likely get worse per the trending you mentioned.

One question JS. Where did this opportunity arise from? LinkedIn? B&M recruiter? Personal contacts? Resume put out there?

I'd lean toward leaving and I'm in a similar position.

Executive Search. I have a pretty big network of recruiters since they are always after me to place sales talent, and I get contacted by Executive Search firms at least twice a month with opportunities. I've already turned down one SVP of Sales offer earlier this year. One sign I may be ready to leave is that where I really wouldn't even listen to opportunities before (I'll listen to the recruiter, but usually one I talk equity etc I decline to go to next step) and now I'm much more open to listen. You can't be half in and half out for too long. I prefer to be 100% in. The fact that I'm even contemplating a move is telling. I shouldn't be.

That being said, they all use LinkedIn. Heck, I can find talent almost as easily as they can with LinkedIn Sales Navigator and advanced search. Most resumes I and others come across shows constant 2 year stints. Automatic disqualifier for me. I've shown the ability to grow and stick (7 years, 14 years, 4 with this firm) and with performance that's pretty attractive I guess. So I get hounded.

 

[Mr. Ected]

GL Smails.

on the home office/commute issue, don't make light of it. it's not as important as some of the other considerations, but you still have to think about how it will affect you, both on the job and in your home life. a couple years ago working for a consulting company, I spent 2.5-3 hours a day on the road after spending 20 minutes or less for many years. the worst part is that it wasn't that far, only from the west valley down to Wilshire & back. but it still took 1-1.5 hours each way. by the time I got home every day, I was so miserable that I didn't want to do anything. the SoCal traffic will beat you down.

if you commute an average of 2 hours a day, that's 1 month out of every year that you'll be on the road for work.

I hear you. I would be doing Thousand Oaks to Santa Monica via PCH.

Moving to SM an option?

That's what I'd seriously contemplate. Talk to the EVP on Monday and see if you can negotiate three of five days there and the rest from home. Then rent a small apartment close by where you spend two nights a week. Commute is reduced dramatically that way, at a cost, obviously

Don't know about the $$$, didn't get much of the babble. And as others have said, didn't know judges got equity!

But seriously consider adding the bolded to your 'contract'. Maybe say you will be there everyday for 6 months then switch to 3 of 5 in the office. My wife does this, due to 1+ hour commute. Has an ip phone, so it's easy to get in touch for clients and staff. If you travel a lot, there wouldn't be much difference!

 

[Judge Smails]

GL Smails.

on the home office/commute issue, don't make light of it. it's not as important as some of the other considerations, but you still have to think about how it will affect you, both on the job and in your home life. a couple years ago working for a consulting company, I spent 2.5-3 hours a day on the road after spending 20 minutes or less for many years. the worst part is that it wasn't that far, only from the west valley down to Wilshire & back. but it still took 1-1.5 hours each way. by the time I got home every day, I was so miserable that I didn't want to do anything. the SoCal traffic will beat you down.

if you commute an average of 2 hours a day, that's 1 month out of every year that you'll be on the road for work.

I hear you. I would be doing Thousand Oaks to Santa Monica via PCH.

Moving to SM an option?

That's what I'd seriously contemplate. Talk to the EVP on Monday and see if you can negotiate three of five days there and the rest from home. Then rent a small apartment close by where you spend two nights a week. Commute is reduced dramatically that way, at a cost, obviously

It sounded to me like his kids are all in college so I think it would be a great chance to leave Thousand Oaks for Santa Monica. Sure he'd have to get a smaller place for the same amount of money but if the kids are gone he doesn't need a huge place.

I won't rule it out but honestly we love it in TO and love our home. We've been here since my oldest was in 1st grade. I know the beach cities are great - just don't know if that's us. I'd have to look at property values there - I'm sure they are through the roof. My mortgage is about the same as SM apartment rent, and if I bought/sold I'd be subject to much bigger property taxes on the new places. Bottom line - if somebody wants you they will make allowances and find a way to make it work. I think I'll have that flexibility with both companies. We'll see. Decision is near. Either I'm going to be excited about the new opp, or my commitment will be doubled down with my existing one. That's the way it should be.

 

[bigbottom]

What's the term? Severance?

 

[Judge Smails]

What's the term? Severance?

not sure what you mean. Present job is at-will, assume the same with suitor.

 

[bigbottom]

What's the term? Severance?

not sure what you mean. Present job is at-will, assume the same with suitor.

Yikes. Given the dollars you're talking I figured this was a term contract with severance protection if they decide to cut you loose. I think that increases your risk for the company B option. At least you have some comfort with your current employer that your job is secure and they won't arbitrarily show you the door. With the new job, you could have some fickle or irrational chief executive who cuts you loose after six months simply because "things aren't working out." And in that case you have no severance protection and no accelerated vesting or heightened valuation of your equity because there is none.

 

[Judge Smails]

What's the term? Severance?

not sure what you mean. Present job is at-will, assume the same with suitor.

Yikes. Given the dollars you're talking I figured this was a term contract with severance protection if they decide to cut you loose. I think that increases your risk for the company B option. At least you have some comfort with your current employer that your job is secure and they won't arbitrarily show you the door. With the new job, you could have some fickle or irrational chief executive who cuts you loose after six months simply because "things aren't working out." And in that case you have no severance protection and no accelerated vesting or heightened valuation of your equity because there is none.

Not many term contracts in my business. Company A could show me the door at any time - and buy back my options. I could ask that with both though if I feel I'm in a position of leverage.

 

[bigbottom]

What's the term? Severance?

not sure what you mean. Present job is at-will, assume the same with suitor.

Yikes. Given the dollars you're talking I figured this was a term contract with severance protection if they decide to cut you loose. I think that increases your risk for the company B option. At least you have some comfort with your current employer that your job is secure and they won't arbitrarily show you the door. With the new job, you could have some fickle or irrational chief executive who cuts you loose after six months simply because "things aren't working out." And in that case you have no severance protection and no accelerated vesting or heightened valuation of your equity because there is none.

Not many term contracts in my business. Company A could show me the door at any time - and buy back my options. I could ask that with both though if I feel I'm in a position of leverage.

Yeah, they could, but is that really a risk given that you've known and worked with them a long time? New employer is largely an unknown in that regard. That increases the risk for Company B. Walking away from a potential 7-figure equity play into an at will situation with absolutely no severance or equity protection is a substantial risk in my estimation.

 

[Tau837]

If you do bolt, don't consider a counter offer

In my experience, as both a manager trying to keep people and as a worker who has been countered, once you have gotten close enough to accept or seriously consider accepting another job, you have already moved on mentally from the current job. Staying for the money doesn't solve the other reasons that led to consideration of leaving, and often doesn't work out well. Unless the only reason you are considering leaving is money, which doesn't seem to be the case here.

 

[Dentist]

after reading more of the thread... 1) i realize i don't know #### about working in corporate america as a small business person working w/ my pops

2) that raise would be legitimately hard to turn down

3) that commute makes the raise significantly less hard to turn down... I think commutes are one of the worst possible things in life... I wouldn't stand for more than 20 min each way... an hour or more each way would just have me burning life and gas.

What's your life goal/plan? If you grind it out at the new place for 8 years will you be able to quit as opposed to maybe another 13 years at the first company?

Man... i would hate to have to make a career defining move at 52... i hope at that point I'm just a year or 2 away from quitting.

 

[sbonomo]

GL Smails.

on the home office/commute issue, don't make light of it. it's not as important as some of the other considerations, but you still have to think about how it will affect you, both on the job and in your home life. a couple years ago working for a consulting company, I spent 2.5-3 hours a day on the road after spending 20 minutes or less for many years. the worst part is that it wasn't that far, only from the west valley down to Wilshire & back. but it still took 1-1.5 hours each way. by the time I got home every day, I was so miserable that I didn't want to do anything. the SoCal traffic will beat you down.

if you commute an average of 2 hours a day, that's 1 month out of every year that you'll be on the road for work.

I hear you. I would be doing Thousand Oaks to Santa Monica via PCH.

that's not terrible....why pch rather than 101 to 405 or 27? Can you manage your schedule to either go in early and leave early or late and leave late?

 

[eoMMan]

When is the deadline? When will you decide?

Remember, no ragrets.

 

[Cjw_55106]

http://s2.quickmeme.com/img/e1/e1d4cf268d205ff30a492a50e5e3b7cdb4f08be8694075bffeb1b7be50b8fc62.jpg

 

[Gordang]

are people really responding to this guys passive bragging thread ? He already knows what he is going to do this is a simply look at me im rich haha thread

 

[urbanhack]

are people really responding to this guys passive bragging thread ? He already knows what he is going to do this is a simply look at me im rich haha thread

You have him confused for Chet.

 

[tjnc09]

are people really responding to this guys passive bragging thread ? He already knows what he is going to do this is a simply look at me im rich haha thread

It's the FBG. Everyone here is rich

 

[johnnycakes]

are people really responding to this guys passive bragging thread ? He already knows what he is going to do this is a simply look at me im rich haha thread

You have him confused for Chet.

Yeah, but chet doesn't ask for career advice. He asks for advice on selling $10k fishing reels, perhaps.