Omega Owners Forum
Chat Area => General Discussion Area => Topic started by: Markie on 26 March 2008, 15:26:29
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Got a dilemma folks...
I run the highest grossing sales team in my company - by a mile. As such i take home more money than my boss - and not just a one off - its been this way for 18 months.
Now i am being pushed and pushed to go for a newly created role which would sit between mines and my current boss`s role.
I initially refused to entertain it but i keep getting pushed and coaxed into considoring it.
The problem for me is that the role - despite being maybe 3-4k better off basic would at the present time rob me of £500 a month in bonus. Bonus for the newjob is based on the department and not just my high performing teams so the dross is included and brings the figure down ::)
So its a case of take the job - slightly more favourable hours and a more prestegious title or stay where I am and be accused of lacking ambition but making more money.
What would you do - Money is my motivator and as for career - well i plan to retire when i am 40 anyway ::) However the new job would be the platform to move into a bigger role in 12-18months....Maybe....
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i'd be happy sitting back being accused of whatever they want to accuse me of, as long as i'm still getting the higher pay, and my working life not being made a living nightmare
in 12-18 months would the bigger role be even better paid than what you get now?
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money wins , let them say what they want . Job titles don't pay the bills
:y :y :y
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i'd say hang back, more money, less responsbility.
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i'd be happy sitting back being accused of whatever they want to accuse me of, as long as i'm still getting the higher pay, and my working life not being made a living nightmare
in 12-18 months would the bigger role be even better paid than what you get now?
Bigger role in 12 - 18 months would give probably another 15k. However theres nothing with my current company to suggest that they are looking to groom me into a bigger role.
It would simply give me the cv that would then let me apply for ...
My gut instinct is to stay where i am - i work to live not live to work.
:-/
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i'd be happy sitting back being accused of whatever they want to accuse me of, as long as i'm still getting the higher pay, and my working life not being made a living nightmare
in 12-18 months would the bigger role be even better paid than what you get now?
Bigger role in 12 - 18 months would give probably another 15k. However theres nothing with my current company to suggest that they are looking to groom me into a bigger role.
It would simply give me the cv that would then let me apply for ...
My gut instinct is to stay where i am - i work to live not live to work.
:-/
Stay where you are to pile money into your other projects
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i'd be happy sitting back being accused of whatever they want to accuse me of, as long as i'm still getting the higher pay, and my working life not being made a living nightmare
in 12-18 months would the bigger role be even better paid than what you get now?
Bigger role in 12 - 18 months would give probably another 15k. However theres nothing with my current company to suggest that they are looking to groom me into a bigger role.
It would simply give me the cv that would then let me apply for ...
My gut instinct is to stay where i am - i work to live not live to work.
:-/
Stay where you are to pile money into your other projects
You think too much like me Tunnie ;D I get easy money and an easy life doing what I am doing which lets me run the thriving little empires at home ;)
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i'd be happy sitting back being accused of whatever they want to accuse me of, as long as i'm still getting the higher pay, and my working life not being made a living nightmare
in 12-18 months would the bigger role be even better paid than what you get now?
Bigger role in 12 - 18 months would give probably another 15k. However theres nothing with my current company to suggest that they are looking to groom me into a bigger role.
It would simply give me the cv that would then let me apply for ...
My gut instinct is to stay where i am - i work to live not live to work.
:-/
Stay where you are to pile money into your other projects
agreed
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Hmmm.....do the bonuses count towards your pension?
I would go with the promo.....but thats me.
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It's they who want to create this new role, and they who want you to move into it. Why should they get a bargain in with the deal? Why should it cost you?
I'd stick to my guns. If they still want you to move, they'll make it more attractive to you. ;)
Kevin
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Hmmm.....do the bonuses count towards your pension?
I would go with the promo.....but thats me.
Pension is non contrib and salary only - not including bonus....
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Hmmm.....do the bonuses count towards your pension?
I would go with the promo.....but thats me.
Pension is non contrib and salary only - not including bonus....
So, the greater salary would be better for your pension which has to be taken into account.
Plus given the line of buisness your in, and the financial situation the world is moving into.....your Bonus might not be as big in 12 months time....or less.
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Hmmm.....do the bonuses count towards your pension?
I would go with the promo.....but thats me.
Pension is non contrib and salary only - not including bonus....
So, the greater salary would be better for your pension which has to be taken into account.
Plus given the line of buisness your in, and the financial situation the world is moving into.....your Bonus might not be as big in 12 months time....or less.
Yep you have a point...no doubting it. The only thing i would add there is that if my bonus is lower in my current role then my bonus would also be lower in the potential role.....
Which would mean the only difference in the roles may come down to the base salary.....Im going to turn myself inside out over this one i think ;D
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Hmmm.....do the bonuses count towards your pension?
I would go with the promo.....but thats me.
Pension is non contrib and salary only - not including bonus....
So, the greater salary would be better for your pension which has to be taken into account.
Plus given the line of buisness your in, and the financial situation the world is moving into.....your Bonus might not be as big in 12 months time....or less.
Yep you have a point...no doubting it. The only thing i would add there is that if my bonus is lower in my current role then my bonus would also be lower in the potential role.....
Which would mean the only difference in the roles may come down to the base salary.....Im going to turn myself inside out over this one i think ;D
In which case the better base salary with the associated increase in pension contributions is a good thing.
Remember that the sale of mid to high end handsets has already fallen in quarter 1 as people pull in the purse strings.
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If you think your net take home will possibly/likely be less AND it is they who want you to take the new role, I would be asking for a guarantee that they will pay you at least what you are making now for the next , say, 2 years.
Remember a lot of things are keyed off basic salary (not least redundancy pay) so that does have significant value.
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So you'll only be down around £2k per year (12x£500 - £4k rise), but have better prospects, and better hours (so more tinkering time ;)).
I'd go for the new role...
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So you'll only be down around £2k per year (12x£500 - £4k rise), but have better prospects, and better hours (so more tinkering time ;)).
I'd go for the new role...
Put like that i would say the same as Jaime ;)
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Tell them you'll take the job if they can match your current average take home pay, at least then they wont accuse you of being unabitious ;D ;D ;D
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Hmmm . currently happy with money you are getting now? Happy with the level of responsibility ( and hence stress)? Happy to be able to indulge in other enterprises ?
If t'were me -- I would probably stay as I am ( being happy!). In my experience ( been there, done that) newly created posts are often the first to disappear when company purse strings need tightening. Another spanner in the mix .....
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if both jobs payments are adequate for a living, position is more
important..
but if payments are close to red line decision is obvious..
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I think there's something else that you're missing, also:
You say that your team is the highest performing. You must surely know why.
Sounds to me like your new job would put you in a position to impose these winning ways on the other teams, thus multiplying your bonus. Win-win. Not to mention the exponential increase in kudos within the company.
As I think has already been mentioned, if what ever it is you sell is likely to be linked in any way to economic slowdown, then your bonus isn't something you can rely on, whereas a higher base is.
Then theres the "5-year plan" to consider.
Job security - is your new role likely to be more stable than that which you have at the moment? How secure is the company (in relation to previous comments about purse string tightening)
If the role has been created for you, are you in a position to use this as a bargaining tool?
just my 2p
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I'm with Mark, take the promotion because your salary (and pension and CV) will probably be more in 2 years and possibly much more in 5. Hang back and it will be basically flat.
Your success belies the comment about working to live by the way...
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I think there's something else that you're missing, also:
You say that your team is the highest performing. You must surely know why.
Sounds to me like your new job would put you in a position to impose these winning ways on the other teams, thus multiplying your bonus. Win-win. Not to mention the exponential increase in kudos within the company.
As I think has already been mentioned, if what ever it is you sell is likely to be linked in any way to economic slowdown, then your bonus isn't something you can rely on, whereas a higher base is.
Then theres the "5-year plan" to consider.
Job security - is your new role likely to be more stable than that which you have at the moment? How secure is the company (in relation to previous comments about purse string tightening)
If the role has been created for you, are you in a position to use this as a bargaining tool?
just my 2p
Some very valid points Keith - and everyone else that has give some valuable input Thanks :y
In reply to some of the points....
I have been with the company 6 years - we are pretty stable - now and reporting a substantial profit for the first time.
Bonus is not based on handset sales as such as we only sell to existing customer base and a sale is regarded as renewing existing contracts. An aside and sweetner to this may well be free handset...However that market is changing
The role i take will remove me from directly impacting the 12 teams ( 3 of which are currently mine) I would then be responsible for managing the 6 individual managers of the teams - Frankly some of them and their teams are dead wood and bombproof.... So i wont ever get the level of performance from the department that i get from my teams as there is a capability issue.
That however is another story as our HR department refuse categorically to manage people out the door on the basisof being incapable.
Theres one other candidate going for it but when i advised him that I am considoring going for the role again today after initially ruling myself out there face changed several colours in a matter of a few minutes - ie they know i have the experience and profile to give me the advantage in any "shoot out"
Still mulling it over and as the responses here suggest theres pros and cons for going for it.....
I guess its time to take the word of the all conquering, all feared master .... wonder if SWMBO is home yet ;D
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Hmmm.....do the bonuses count towards your pension?
I would go with the promo.....but thats me.
Pension is non contrib and salary only - not including bonus....
So, the greater salary would be better for your pension which has to be taken into account.
Plus given the line of buisness your in, and the financial situation the world is moving into.....your Bonus might not be as big in 12 months time....or less.
Trouble is these days, you hear of too many pension companies collapsing, and not paying out anything...
That money could be spent on other projects which could make more money, or just take the extra money and save it away someware.
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Money is money mate i would stay where you are.
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Hmmm.....do the bonuses count towards your pension?
I would go with the promo.....but thats me.
Pension is non contrib and salary only - not including bonus....
So, the greater salary would be better for your pension which has to be taken into account.
Plus given the line of buisness your in, and the financial situation the world is moving into.....your Bonus might not be as big in 12 months time....or less.
Trouble is these days, you hear of too many pension companies collapsing, and not paying out anything...
That money could be spent on other projects which could make more money, or just take the extra money and save it away someware.
Who said anything about a pension company, I suspect its a company scheme with good contributions from the employer.........which are reasonably well policed these days.
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Hmmm.....do the bonuses count towards your pension?
I would go with the promo.....but thats me.
Pension is non contrib and salary only - not including bonus....
So, the greater salary would be better for your pension which has to be taken into account.
Plus given the line of buisness your in, and the financial situation the world is moving into.....your Bonus might not be as big in 12 months time....or less.
Trouble is these days, you hear of too many pension companies collapsing, and not paying out anything...
That money could be spent on other projects which could make more money, or just take the extra money and save it away someware.
Who said anything about a pension company, I suspect its a company scheme with good contributions from the employer.........which are reasonably well policed these days.
Spot on - non contrib pension scheme with 4% of base salary a month....can remember who dels with it either Scottish Widows or Equitable....
Anyways.....Cant remember Mr DTM giving wrong advice on here....and seeing as it matches SWMBOS....looks like my hat is going in the ring :y
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Whichever way you go m8, very best of luck with it. Bottom line is that the Co. you work for think highly of you -- which has got to count for a lot :y
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Yup, always remember that a bonus is an un-reliable income and give that we will be seeing cut in spending generally...
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Hmmm.....do the bonuses count towards your pension?
I would go with the promo.....but thats me.
Pension is non contrib and salary only - not including bonus....
So, the greater salary would be better for your pension which has to be taken into account.
Plus given the line of buisness your in, and the financial situation the world is moving into.....your Bonus might not be as big in 12 months time....or less.
Trouble is these days, you hear of too many pension companies collapsing, and not paying out anything...
That money could be spent on other projects which could make more money, or just take the extra money and save it away someware.
Who said anything about a pension company, I suspect its a company scheme with good contributions from the employer.........which are reasonably well policed these days.
Spot on - non contrib pension scheme with 4% of base salary a month....can remember who dels with it either Scottish Widows or Equitable....
Anyways.....Cant remember Mr DTM giving wrong advice on here....and seeing as it matches SWMBOS....looks like my hat is going in the ring :y
Hope it aint Equitable - they went tits up
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Just checked its Widows...
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I'd take the promotion.
If you're that good that you have created a winning team, then rise to the challenge (which is what they want from you) and create the same winning formula accross the board.
Then your bonus will be even bigger.
That's if you're up to it...
;)
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Just checked its Widows...
I'm with them - pretty good :y
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As your friendly Bank Manager - I think all the advise is sound and your probably right to take the new job.
£500 pm = £6000
Pay rise = £4000 + Pension
I'd be inclined to accept the new role on the condition that you meet in the middle ie £5k salary rise. Simply explain you cannot afford and don't want to take such a big cut but having looked at your ougoings etc you can make it work at this level.
The alternative is they pay an agency £3k to find someone else - who'll ask for even more - and probably get it.
The close would be ..... "I don't want to take a new role with any regrets - £5k will allow me to take the new position as a positive step" kind of thing.
Good Luck :y
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Just checked its Widows...
I'm with them - pretty good :y
Unless you fly gliders and want life insurance. :-X
Kevin
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a company called scottish widdows is never going to be great on life insurance, is it ;D
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Hmmm.....do the bonuses count towards your pension?
I would go with the promo.....but thats me.
Pension is non contrib and salary only - not including bonus....
So, the greater salary would be better for your pension which has to be taken into account.
Plus given the line of buisness your in, and the financial situation the world is moving into.....your Bonus might not be as big in 12 months time....or less.
Trouble is these days, you hear of too many pension companies collapsing, and not paying out anything...
That money could be spent on other projects which could make more money, or just take the extra money and save it away someware.
The tits up pension schemes were generally final salary ones (defined benefit), which are few and far between these days. Unless you either work for the government, who has a license to print money, or are one of the fat cats at the top and have a FS scheme as part of your package. - Works on the basis of providing a percentage of your salary for each year you worked for the company, the cost of this is unknown and potentially very expensive. People live longer and the pension scheme must continue to provide for them at the agreed rate.
Most company schemes have moved over to a "Money purchase" (defined contribution) system where they know how much is going out each month and can therefore budget accordingly. Each employee basically owns their pension and the company's only responsibility is to put money into it, what you get out at the other end is of no concern to them. This system is better for employers because they know how much they have to contribute in advance as it is worked out on a % of your salary.