About a month ago I was contacted by a headhunter to fill a mid-level position at a major japanese multinational where I have worked before (15-10 years ago)
Went thru 3 rounds of interviews and was given an offer. Only problem is they lowballed the hell out of me. 30% less than my asking, or about the same (+/-10%) am making at my current job. The job market is really bad in my business since the lockdowns (plus, from my years there, I remember they arent the best paying company out there), thus why I imagine the offer.
Told them initially I couldnt take less than what I make right now, but a couple days later the headhunter scheduled a meeting between me and HR for tomorrow at noon to discuss total compensation.
Before COVID, I had a C-level job and was paid about twice as much as I do now. Things are a bit tight since then, but I can manage my finances at my current income level.
I currently work for a small family-owned company selling a mid-tier machinery brand and chinese trucks. The company is over 20 years old, but isnt in great financial position. I work mon-fri, my boss is great, stress is low and I think am doing a great job here (great numbers, etc), although I have only been 9 months I have already talked with my boss about being made a partner (so far we have discussed starting a new company with a $300k capital loan from him, with 50-50 ownership) based on my performance so far. This has a lot of potential (and risk), since I estimate I could do about 30% gross anual returns on that investment for the first 4-5 years.
Thing is, it would be thru a loan with not interest and no payment-due date set for a few years... so I would own 50% of all profits, but would also take on debt if the company fails (very unlikely, as the inventory is spare parts that I could wholesale at cost in the worst case scenario). The upside of this is I might make $400-500k equity over the next 5-6 years if things go right, on top of my salary.
Thing is, its a small company with a non-zero risk of going under and a very, very high turnover, plus I would have to actually perform and do the 30% return a year (which means a lot of stress) and I could end up without a job in a few years.
On the other hand, the japanese company is huge. 150 years old and 45k employees worldwide and is the market leader by far.
Their offer could include remote work (3 days office-2 days remote + 2 saturdays a month for 4 hours), and they have offered a "indefinite contract" (legally means I cant be fired unless they have a good reason), which pretty much means, by law and the culture of the company, I would be guaranteed a job for the next 10-15 years (unless I fuck up majorly). Most of my friends from 10-15 years ago are still there. Am 40 years old, so there is a non-zero chance this could be my "retirement" job. A job like this at this company only surfaces every 5-7 years or so.
The downside? Chances for raises are slim (thats why I left 10 years ago), might be more stressful than current job. Would have to work 2 saturdays a month. Chances of getting back to a C-level job are slim as well (not that it interests me, btw. I prefer the no-stress).
What would RM do? Gross salary between both would closely matched if things go according to plan tomorrow.
Roll the dice on the current small company for the chance of ownership in the new business, or take the sustainability and low risk of the japanese company?
Went thru 3 rounds of interviews and was given an offer. Only problem is they lowballed the hell out of me. 30% less than my asking, or about the same (+/-10%) am making at my current job. The job market is really bad in my business since the lockdowns (plus, from my years there, I remember they arent the best paying company out there), thus why I imagine the offer.
Told them initially I couldnt take less than what I make right now, but a couple days later the headhunter scheduled a meeting between me and HR for tomorrow at noon to discuss total compensation.
Before COVID, I had a C-level job and was paid about twice as much as I do now. Things are a bit tight since then, but I can manage my finances at my current income level.
I currently work for a small family-owned company selling a mid-tier machinery brand and chinese trucks. The company is over 20 years old, but isnt in great financial position. I work mon-fri, my boss is great, stress is low and I think am doing a great job here (great numbers, etc), although I have only been 9 months I have already talked with my boss about being made a partner (so far we have discussed starting a new company with a $300k capital loan from him, with 50-50 ownership) based on my performance so far. This has a lot of potential (and risk), since I estimate I could do about 30% gross anual returns on that investment for the first 4-5 years.
Thing is, it would be thru a loan with not interest and no payment-due date set for a few years... so I would own 50% of all profits, but would also take on debt if the company fails (very unlikely, as the inventory is spare parts that I could wholesale at cost in the worst case scenario). The upside of this is I might make $400-500k equity over the next 5-6 years if things go right, on top of my salary.
Thing is, its a small company with a non-zero risk of going under and a very, very high turnover, plus I would have to actually perform and do the 30% return a year (which means a lot of stress) and I could end up without a job in a few years.
On the other hand, the japanese company is huge. 150 years old and 45k employees worldwide and is the market leader by far.
Their offer could include remote work (3 days office-2 days remote + 2 saturdays a month for 4 hours), and they have offered a "indefinite contract" (legally means I cant be fired unless they have a good reason), which pretty much means, by law and the culture of the company, I would be guaranteed a job for the next 10-15 years (unless I fuck up majorly). Most of my friends from 10-15 years ago are still there. Am 40 years old, so there is a non-zero chance this could be my "retirement" job. A job like this at this company only surfaces every 5-7 years or so.
The downside? Chances for raises are slim (thats why I left 10 years ago), might be more stressful than current job. Would have to work 2 saturdays a month. Chances of getting back to a C-level job are slim as well (not that it interests me, btw. I prefer the no-stress).
What would RM do? Gross salary between both would closely matched if things go according to plan tomorrow.
Roll the dice on the current small company for the chance of ownership in the new business, or take the sustainability and low risk of the japanese company?
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