I have a retention bonus of 2k USD, which I will receive if I remain with my current company until November '11. I have been searching for a job and recently received an offer. They want me to join the company before October '11. The salary increase is very good, and I ensured the retention bonus amount is also covered in the new offer.
I am a bit confused about whether to stay for the retention bonus, as it will be a significant amount of cash, and then start searching for a job, or accept the new offer and forgo the retention bonus.
From India, Madras
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I am a bit confused about whether to stay for the retention bonus, as it will be a significant amount of cash, and then start searching for a job, or accept the new offer and forgo the retention bonus.
From India, Madras
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Like Henry Ford is once purported to have said:
"Whether you think you should or should not, you are right."
So, the answer to your question lies in what your priority is.
If your priority is to get the one-off lump sum bonus, and it is really important for you to get that bonus payment, then you will be mad to leave prior to November 2011.
On the other hand, if switching employers is your priority (due to any number of reasons - they are not being discussed in this post), and the fact that you've been smart enough to include all monetary considerations with your new employer, then you will be mad not to join them in October 2011.
The point I am making is this:
Like the rest of us, you don't know which way you are headed into the future unless you are clear about your intentions today. Also, you cannot and should not base your decisions today on a 'what if' analysis of the future. Because, if you engage in that analysis, I guarantee you will need to find the nearest ICU to your home. Because, it is a surefire way to achieve a self-induced aneurysm.
So, go with your gut feeling and stop dilly-dallying with whatever is the answer in your mind.
Good Luck!
From India, Gurgaon
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95"Whether you think you should or should not, you are right."
So, the answer to your question lies in what your priority is.
If your priority is to get the one-off lump sum bonus, and it is really important for you to get that bonus payment, then you will be mad to leave prior to November 2011.
On the other hand, if switching employers is your priority (due to any number of reasons - they are not being discussed in this post), and the fact that you've been smart enough to include all monetary considerations with your new employer, then you will be mad not to join them in October 2011.
The point I am making is this:
Like the rest of us, you don't know which way you are headed into the future unless you are clear about your intentions today. Also, you cannot and should not base your decisions today on a 'what if' analysis of the future. Because, if you engage in that analysis, I guarantee you will need to find the nearest ICU to your home. Because, it is a surefire way to achieve a self-induced aneurysm.
So, go with your gut feeling and stop dilly-dallying with whatever is the answer in your mind.
Good Luck!
From India, Gurgaon
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Gaurav has given you sound advice. So, let me ask you a question. If you have made sure that the retention bonus is covered, how long will it take for you to get that amount? If my present salary was, let us say, $20,000 per month and the new salary is $22,000 per month, then I would recoup that $2,000 within a month. So, why worry about losing the bonus?
I think there is more to your doubts than you have disclosed.
Have a nice day.
Regards,
Simhan
From United Kingdom
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I think there is more to your doubts than you have disclosed.
Have a nice day.
Regards,
Simhan
From United Kingdom
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Thank you for such a realistic suggestion, Gaurav. Your points are duly noted and will be referenced anytime. I have decided to stay with the company to receive the retention bonus before commencing my job search afresh. I work in India, and the bonus amounts to about 10% of my annual salary.
From India, Madras
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From India, Madras
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What's Involved in Career Choice[1].DOC