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Due to changes in the law, prospective employees in California can no longer be asked about prior salary as of January 1, 2018. Another potential deflection tool for those getting hounded on it during interviews/negotiations. Some other jurisdictions have similar laws in place (Oregon, Massachusetts, Delaware, NYC). https://www.employmentmattersblog.com/2017/10/california-bans-salary-history-inquiries/
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Dec 23, 2017 01:24
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Ultimate Mango posted:Wow that is really interesting. Dumb question: My next hire will be in Texas, but I and my office are in CA. Texas rules apply, since the person will work in Texas, right? If the job is located in Texas then the Texas rules should apply.
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Jan 8, 2018 10:08
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Chaotic Flame posted:I meant in the coming year or so. He can try to spin increases at review time somehow? Maybe? I'm surprised they offered him a cent more than what he asked for, myself.
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Jan 10, 2018 02:22
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bamhand posted:Well I ended up countering with 110% without a sign on bonus. The recruiter made it sound like that was going to be a hard sell. Somehow she found it hard to believe I didn't want to take a 7% pay cut in exchange for a 15% sign on bonus. Do you think it would actually be worth it at 110% of your current salary and "at least" 125% of your current hours?
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Feb 20, 2018 21:44
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bamhand posted:Well they came back and met my counter. The recruiter said she was surprised because by both agreeing to the salary and the quick response. Not sure how much of that is just her BSing me. One thing she mentioned is that their comp is strictly tied to position/title. So this changes me from Senior 2 to Senior 3, which is directly below manager, which would likely happen by summer of next year. Congrats. What do you mean about the three-year vesting period making it easier if you change your mind? Seems like a hook to keep you there.
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Feb 21, 2018 09:55
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Sleepytime posted:I will be graduating in August with an MBA in Finance in the Indianapolis area. I've been a manager at a production facility for 8 years and have gone from 35k to 50k over that time. Seems odd that he's trying to lock you up until the day you graduate (and would, presumably, subsequently leave for another job). Unless you're looking to leave before you finish your program there doesn't seem to be a ton of downside. Even if you do want to leave early theres probably not much he can bind you to unless you sign a contract. Of course, breaking your word could negatively impact any recommendations your boss provides down the road.
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Mar 7, 2018 21:00
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Sleepytime posted:Got it. Thank you all. I will finish my MBA in August but the points stand. Yeah, anything your boss tells you is going to be motivated at least in part by his own self-interest, which this guy doesn't even seem capable of disguising. If the role is a revolving door it's probably because your boss is paying well under the market rate. I'm not a manager, but my understanding is that management experience is fairly valuable across industries.
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Mar 7, 2018 23:28
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Chaotic Flame posted:So I think I'm in a position where I think I have to know when I've won and just accept without negotiating. This is for a literal dream job. Is the offer roughly at market? Is 1.6x your current base salary enough to live comfortably in New York? Is it a public company where you can freely sell equity as you vest? In any case, you might consider framing any negotiation around missing out on a low CoL, missing out on your 7% match, and missing out on six weeks of vacation, which are all valuable perks that one might expect to be compensated for. That said, if it's truly your dream job and the compensation offered is at market or better, don't feel compelled to apply a bunch of pressure to squeeze out a few more bucks. A good deal is a good deal, whether you "earned" it or not.
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Jul 23, 2019 20:04
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Dwight Eisenhower posted:I'm gonna be walking a fine line between being a dick and trying to be helpful: how did you read the last 10 pages and still need to ask? What do you think made your situation distinct so that you'd get any advice other than "They're loving you, get another job."? Calm down, gramps.
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Aug 8, 2019 22:10
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Zauper posted:For most startups, the exercise price is going to be low. The 409A assessment factors in the illiquidity of the stock in the pricing of the options. I joined the company I'm at right after a round that valued the stock at say $1 per share. My options were priced, after the 409A, at $0.1. So theoretically they are already in the money, before anything happens. I'm not exercising them -- there are good reasons not to want to pump money into your employer -- but for me, that cost is not really a big loss. Wait a minute, you were issued options at a strike price of $0.10 per share when your company's common stock was valued at $1.00 per share??? Issuing options in the money is a huuuuuuge no-no. Vox Nihili fucked around with this message at 23:04 on Sep 24, 2019 |
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Sep 24, 2019 23:01
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Zauper posted:Huh? 409A assessment is an audit that determines the fair value of your common stock. Assuming the $1 and $0.10 figures are apples-to-apples (i.e., both figures relate to the same share class), yeah, something sounds off. A recent arms-length transaction would be one of the factors considered in a 409A valuation. If an investor is buying shares for a buck a piece you shouldn't be granting options covering such shares with a strike price of $0.10 a piece, that's a huge gulf in valuation (assuming, again, we're talking about the same class of equity and a 10x difference in valuation). Maybe if that investment round was awhile back and the company has bled a ton of value since then? You are probably fine, personally, since your company did the right thing and had a 409A valuation conducted, which provides a safe harbor. In the case of an IRS audit, that safe harbor puts the burden on the government to show that any options were granted below FMV. However, the whole point of the rule is to prevent companies from issuing juiced options. If I happened to be reviewing the financials for Company X and I saw options issued at a $0.10 strike price just after a $1 a share equity buy I would consider that a red flag. The tax penalties are extremely stiff for violations.
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Sep 26, 2019 02:14
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Yeah, I wouldn't worry about it too much in your circumstances, but the concern would be if an investor buys in at a valuation that puts the total company at let's say $100m and the company gets a 409A valuation a month later at let's say $10m for the entire company, then the company issues options with a strike price tied to the $10m valuation despite knowing that the number is fucky. That's probably not what happened in your case, but it's something that an auditor might raise an eyebrow at. Even then, I imagine with small start-ups, valuations done in completely good faith can vary wildly from month to month and methodology to methodology. I've only seen actual issues arise in the absence of a proper, independent 409A valuation in any case (or where a 409A valuation is relied upon beyond the 12-month safe harbor). Vox Nihili fucked around with this message at 03:38 on Sep 26, 2019 |
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Sep 26, 2019 03:35
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Eric the Mauve posted:It's still weird as hell but I'm pretty sure as long as he has the offer in writing he's fine as far as the possibility of them later saying "nope we never offered you that" is concerned. I agree. It gives you roughly the same protection as a signed offer letter (which is to say, not much, but maybe a promissory estoppel claim if they yank your offer after you incur expenses to move or something). Signed or unsigned, it's not an employment agreement and you're still at-will once you've accepted.
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Oct 2, 2019 01:29
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skipdogg posted:Turbofucked? Not quite. I feel like it's more of a swift kick in the balls though. Well I'm certainly looking forward to the updates on this one.
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Nov 10, 2019 01:17
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$75k in CA seems very low for a science-related position for someone with an MS and 5+ years of experience. If you don't end up taking this job you should find another one locally. Your loyalty is likely costing you a lot of money.
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Nov 15, 2019 22:54
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Dwight Eisenhower posted:Don't work with loving recruiters. I'm an attorney. I got my current job via a specialist recruiter who reached out to me directly. The opening was unlisted (just one of her several relationships; she did not reach out to me for this specific job originally). As it turns out she knows the industry and my tiny speciality really well. I make a multiple of what I made before. Hearing people out can be worthwhile. Vox Nihili fucked around with this message at 04:11 on Dec 7, 2019 |
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Dec 7, 2019 04:09
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Stoop Kid posted:I work in public accounting as a manager at one of the very large firms. I had a loving miserable busy season compounded with some personal tragedy, and I was passed up for promotion to a Senior Manager role this year while a low-performer with tenure was promoted. These two factors made me decide to leave, so I updated my resume and started talking to recruiters. As a lawgoon with an accounting fiancee, congrats on hitting a home run and getting out of the toxic rat race.
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Dec 17, 2020 00:50
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KYOON GRIFFEY JR posted:This is discussion about people leaving a specific job, not the general population. I have no issue with people in general who got fired unexpectedly, but If you get fired from my firm it's for a consistent, documented track record of poor performance, full stop, and therefore I only care about where you end up in the specific context of "let me make it so I never have to interact with you again" This is closing in on peak BFC 
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Dec 18, 2020 04:23
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Vogelspinne posted:Thanks for the replies goons, I asked for 140k and the recruiter just called me to let me know that the offer would probably be in the 130-135k range so looks like I didnt screw myself over too badly, might have gotten more if I didnt give a range but I was hoping for 115k when I started my search so this is already life changing for me. Will definitely take the feedback of not giving a range to heart for future job searching though. Congrats! Reel that sucker in.
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Dec 22, 2021 03:20
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aperfectcirclefan posted:I'll do that, thank you! I hope I hear form Job #2 In the meantime you will probably want to keep applying and looking, even if Job #2 doesn't get back to you there are probably other opportunities closer to their range.
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Jan 7, 2022 01:17
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dude789 posted:Wish me luck everyone or at least get a first hand example of how for profit healthcare is going to obliterate the American healthcare system. If anyone has any advice it would be appreciated but I'm venting more than anything. One thing I would be sure to look into is the benefits. If the job comes with fully-paid top-flight health insurance and a pension that might make up the difference. Some union jobs are like that. That said, a for-profit workplace that only recently went union due to a change in ownership may not have those things.
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Jan 7, 2022 07:38
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Lockback posted:I don't understand the goon aversion to an exit interview. If they are scheduling it during your paid working time, you should give professional, polite feedback. There's lots of examples of companies using that feedback to improve the conditions, and enough people saying "Yeah, I am leaving for better compensation" is how you lift the tide in an industry. If you're concerned an exit interview will tarnish your professional reputation then ditching it certainly won't help, but you're leaving either way so it's not going to hurt you. Don't be whiny or try to throw mud or settle scores, but you can be direct. In my past 2 jobs I have seen compensation, PTO and even medical insurance options change driven by exit interviews. Apparently goons will do anything to avoid a 15 minute conversation. Agree that it's totally bizarre. This shouldn't really cost you anything unless you plan on spontaneously confessing to crimes during the exit.
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Jun 7, 2022 03:21
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SEKCobra posted:So I had a great interview last week, the department head even complimented me at the end. He told me I'd hear back from them yesterday. No contact all day, I emailed him saying I was expecting their call. He thanked me for the reminder, said he is waiting to hear back from their board and that he will contact me today. Today is over and still nothing... Delays in the hiring process are super common. I don't think I've ever gotten a follow up as quickly as was promised. It's certainly annoying, but you're very much overreacting to the circumstances here. There's no reason to "confront" anyone or "sever all ties" because it takes them a couple days more than expected. A friendly professional reminder the evening of the day you were expecting a response is plenty. Follow up every few days thereafter if you're feeling anxious.
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Jun 8, 2022 20:32
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Just thought I'd drop this factoid here https://twitter.com/LizAnnSonders/status/1555506857019686912
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Aug 5, 2022 20:36
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AAAAA! Real Muenster posted:Is there any way to leverage this kind of information/data to get a better raise at my current job where I have an actual good manager and situation? You could get an outside offer and ask them to match. Of course that entails some risk and exercise of sound judgment. Some employers are very professional about it and will simply pay the necessary rate to retain you, others will immediately start trying to replace you. In the current labor market it's more difficult to find replacements than in years past but that won't necessarily keep managers from behaving irrationally.
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Aug 6, 2022 07:27
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