How much would it take to make you leave your current employer

[witchkizzle]

Hello everyone,

I may have an opportunity to switch firms. I will be going on an interview tomorrow. My question is: how much would someone have to increase your compensation to get you to leave your current employer?

I'm 25 and have never considered leaving this firm, since I started here as an intern. I was recently contacted by another firm (literally across the walkway from my current office) and went to lunch with a few of their employees. I was then asked to come in for an interview.

I have a really, REALLY strong feeling that I am not currently being paid at open market rates. I was promoted after one full time year to Senior Accountant and was started (as a senior accountant) at less than what seniors were being brought in at when I started 4 years ago, if that makes sense. I've already had the internal struggles trying to justify to myself that it's ok that I was given less money to do the exact same job as other seniors, but those talks broke down in my head .

I don't think it is unreasonable to walk in there and say "I would come over here for an increase of 12%", which would be about a $7,000 increase to my current base salary. I make about 10-12k in overtime and bonus every year and that would not change with the new employer.

The accounting software they use is EXACTLY the same as here, so is the basic benefit structure,opportunity for growth and advancement, management structure, etc...

The new company is bigger than our firm by about 40 people, and has been around for about 12 years longer (1948 as opposed to 1960).

Anyway, has anyone else been in a similar situation? It really feels like it might be worth switching for that extra 7k, since it's a bump from like 70k total to about 77k total. If they offer close to what I make now, then at least I will know I am being paid market rates (which would mean market rates just fell with the economy, not totally unthinkable) and I will thank them for their time and finally feel good about my current employer .

[Redraidernurse]

If you are otherwise happy with your current job situation besides the pay, why not tell your boss that you've received another job offer (after you receive it) for more $ and see if your current boss is willing to match?

[witchkizzle]

That's kind of the route I was thinking about taking.

Let me ask a new question then...

Has anyone ever done that before? How did you approach it and what was the result?

[breathemusic]

My brother did something similar. He interviewed for another position and got the job offer, but went back to his current employer and explained the offer to see if they would match. They did, and he was left with a decision to make. In the end he went with the new company, but he knew that he could have gone either way and not burned any bridges because he handled it in a professional manner.

I think as long as you do that, it shouldn't be an issue. Though I wouldn't go to your current employer about the raise until you have a job offer in hand from the other company. Last thing you need is to not actually get the job offer and then have your current boss pissed off about you asking for a raise.

[disneysteve]

My question is: how much would someone have to increase your compensation to get you to leave your current employer?

My answer wouldn't be about money. It would be about the job itself, location, work load, working conditions, other benefits, etc.

I left my last job due to issues with all of the above. The job I took after that was better all around even though it paid considerably less.

If it was about the money and all other issues were truly equal, I'd probably want at least a 10-15% increase to even consider it. I would just hate the idea of starting over at this point in my career so the offer would have to be pretty sweet.

[witchkizzle]

My answer wouldn't be about money. It would be about the job itself, location, work load, working conditions, other benefits, etc.

I left my last job due to issues with all of the above. The job I took after that was better all around even though it paid considerably less.

If it was about the money and all other issues were truly equal, I'd probably want at least a 10-15% increase to even consider it. I would just hate the idea of starting over at this point in my career so the offer would have to be pretty sweet.

That makes sense...

It is just strange in this situation that everything would be about the same, except some of the things they are saying seem better. Obviously some of them are worse too, but nothing that I would have trouble with (like they ask you to be there by 9am, our firm's flex time policy is more lenient so they don't really care when you come in)

During tax season they said they had a person who worked 72 hours one week. That was their HIGHEST! I was hitting mid 70's all but 2 weeks of tax season and the last couple of weeks I had to pull 80 and then 92 hours.

Benefits, physical location, firm structure, and almost everything else are equal. They are a bit bigger (by 40 people) and have been around longer (by 12 years). They also give you a firm paid E-Z Tag, I don't use one now but I thought that was interesting.

I feel like if I could go and get 10%+ to switch and not have to have such a tax season demand, it would be really good since everything else is so similar.

Even if there is one hard to please, high demand, condescending, workaholic, rude, manipulative shareholder there, we have one here too so no big deal.

[witchkizzle]

My brother did something similar. He interviewed for another position and got the job offer, but went back to his current employer and explained the offer to see if they would match. They did, and he was left with a decision to make. In the end he went with the new company, but he knew that he could have gone either way and not burned any bridges because he handled it in a professional manner.

I think as long as you do that, it shouldn't be an issue. Though I wouldn't go to your current employer about the raise until you have a job offer in hand from the other company. Last thing you need is to not actually get the job offer and then have your current boss pissed off about you asking for a raise.

Haha, yeah I would definitely avoid doing that. No one at my firm knows I even got contacted by this other firm. I wasn't even looking for a new job, they just approached me and asked me to meet with them.

I was thinking if I did get an offer for a higher amount (which is not a "for sure" thing by any means) I would approach my current firm with this:

I was approached by another firm and they are offering me a deal that is hard for me to pass up. With my family's goal of my wife being a stay at home mom when we have a baby, they are offering me XX more in compensation a year to come over there. I think I would be doing my family a disservice by not talking to you guys about this. I want to stay at *current company*, but like I said, *new firm* is offering a hard to pass up opportunity for my family.

[skydivingchic]

Your last post is more or less how I handled the situation when I had similar circumstances. Within a few months time period a few years ago I had received several unsolicited job offers and interviews from other firms. After getting one that was really hard to pass up, I went to my supervisor who I trusted and had a good rapport with. I told him about the job offers, that I hadn't been looking, that I liked where I was at and wanted to stay, but couldn't look the other way when other firms were offering me substantially more. He took it to the right people and wrote a glowing letter explaining my value. I ended up with a 20% raise out of the deal - a bit less than I had asked for (as I said the other offers were substaintially more, I was obviously be paid under market value), but worth it to not start over and stay in a position I liked.

[witchkizzle]

Your last post is more or less how I handled the situation when I had similar circumstances. Within a few months time period a few years ago I had received several unsolicited job offers and interviews from other firms. After getting one that was really hard to pass up, I went to my supervisor who I trusted and had a good rapport with. I told him about the job offers, that I hadn't been looking, that I liked where I was at and wanted to stay, but couldn't look the other way when other firms were offering me substantially more. He took it to the right people and wrote a glowing letter explaining my value. I ended up with a 20% raise out of the deal - a bit less than I had asked for (as I said the other offers were substaintially more, I was obviously be paid under market value), but worth it to not start over and stay in a position I liked.

It's good to hear it has worked for others!

I over-all like where I am, but really only because of the friends i've made. I also know moving to this other firm wouldn't be a huge change. I just feel like my current firm plays too many games with salaries/bonuses and promotions. I have people who really like me here and I get the "you are on track to being partner", "keep up what you are doing", "you are ahead of expectations right now". So when I got promoted, I was thinking "alright! finally the hard work paid off". Needless to say, it didn't.

They even tried to not give me a bonus last year on the grounds that I didnt get one the year before. I was part time the year before and still finishing my degree! When I asked them what their reasoning was they said "only people who got a bonus the year before are getting one this year". Honestly it was the craziest thing I've ever heard to not base it off of performance but soley whether or not you had one previously (even if you werent eligible the year before), and luckily they came to their senses.

They then brought another person in at my level and paid her more. She makes more WITHOUT her CPA license than I do WITH mine. Her performance is lower, her attitude is bad, and her drive is lower.

Anyway, the interview is at 3pm and then I am going to a CPA conference in San Antonio, so at least I can try to relax!

[bjl584]

If money were the only ctiteria, then I'd say 25% to 30% increase.

[cypher1]

I was promoted after one full time year to Senior Accountant and was started (as a senior accountant) at less than what seniors were being brought in at when I started 4 years ago, if that makes sense. I've already had the internal struggles trying to justify to myself that it's ok that I was given less money to do the exact same job as other seniors, but those talks broke down in my head.

That doesn't surprise me with certain promotions within a company. I was in a similiar situation years ago when I started as a systems engineer making less than others doing the same work. Since my employer knew my salary range, they only gave a small raise. I argued that anyone off the streets would be paid more for the same responsibilities yet require more training. They finally gave in and increased my salary. I realized that if you really want a raise you have a better chance for it to changing employers.

Now it seems like you're not too happy with current firm. The smart thing would be to do the interview, hopefully get an offer in writing, leverage it to your current employer, and if they counter then you have other decisions to make. I'm not one for office politics either. But as others said, not everything is about money. I'd rather make less but look forward to coming in everyday, then getting paid a lot but being miserable.

[witchkizzle]

Now it seems like you're not too happy with current firm. The smart thing would be to do the interview, hopefully get an offer in writing, leverage it to your current employer, and if they counter then you have other decisions to make. I'm not one for office politics either. But as others said, not everything is about money. I'd rather make less but look forward to coming in everyday, then getting paid a lot but being miserable.

I see what you're saying, and I agree.

I'm not trying to be greedy or anything, but it weighs on my mind every day. They expect so much out of me. I have the most overtime, the most chargeable hours, the most client contact at my level, and more review work than all the other seniors combined.

To have all of that and then get shafted again and again and to have one certain shareholder tell me "it's because you arent up to the level of X person or Y person". I'm a year and a half out of college, and this shareholder is comparing me to a supervisor (X person) and a manager (Y person) who have 6 and 10 years experience respectively. How the heck am I suppose to compete with that? The answer is, I shouldn't have to.

Man, listing all of this out really makes me realize how crappy they are to me sometimes haha. Oh well, I have an opportunity to do something about it and that's what I will try to do.

I'm not saying I'm expecting an offer from this firm, but at least I'm trying I guess.

[jpg7n16]

To have all of that and then get shafted again and again and to have one certain shareholder tell me "it's because you arent up to the level of X person or Y person". I'm a year and a half out of college, and this shareholder is comparing me to a supervisor (X person) and a manager (Y person) who have 6 and 10 years experience respectively. How the heck am I suppose to compete with that? The answer is, I shouldn't have to.

I would try to shift the focus to - it's not how I compare with X or Y, it's how my value as a Senior Accountant compares with the job market, and what value I bring to the firm.

I'd go with this: Finance Salary & Accounting Salary Information - Robert Half Finance & Accounting

And bring some figures to the table. I wouldn't nitpick it -"well I should be making $55k and I'm only making $53k" that's pushing it (chalk it up to variance in the data). But if it's a "I should be making $60-65k, and I'm only making $52k" you may have a legitimate concern.


I also see nothing wrong with interviewing at company B and using the salary offer for your current position. It's one thing to say, "jobs in the area pay X" but to say "I'm being offered X by company B" eliminates any doubts. If they feel they'll match it, use that as you consider the offer from company B.

[cypher1]

I'm not trying to be greedy or anything, but it weighs on my mind every day. They expect so much out of me. I have the most overtime, the most chargeable hours, the most client contact at my level, and more review work than all the other seniors combined.

I don't consider it greedy either, but if you feel you're not earning what you deserve then its either move on or stick it out. Nothing wrong with being proactive on a job search. I think a lot of is going to be priorities. I happen to enjoy my work and dont mind longer hours or new challenges to solve. Now if you're working long hours and not satisfied just another reason to move on.

Going back to your original question, I would have to say 20-25% more increase to change employers. And commute would be factor besides work schedule. Right now I'm 15-20 min away with no traffic, nor traveling to off sites.

[JoeP]

About 3 years before I faced the situation you described, I became my own advocate, and went to my boss with evidence that I had been performing above and beyond the documented expectations. They turned around and gave me a raise FAR beyond what I was expecting. This was great news, because I loved the company and did not want to leave. So what I am saying is to consider approaching your current employer with documented evidence of your value and your time with the company, and let them decide the next step. I would not mention the upcoming interview.

If you don't get the type of compensation you believe you deserve, then see how the interview goes. If the new firm offers you more, and you accept, you may find that your new employer will THEN counter when learning of the news...if so, then I would not take the counter, because it indicates they only do this after learning of a legit threat of you leaving. Not a good trend to be part of!