My company is undergoing restructuring.

Anonymous

March 12,2024 at 1:42PM UTC

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My company is undergoing restructuring.

This type of belt tightening, hiring external consultants to evaluate existing organizational structure to rank employees and reduce costs, decreasing annual raises expected for many years to come. I have been with the company for 8 years and promoted twice, but have been looking at other companies because of what I am seeing. Executives are leaving or let go; new managers are out into their place without the same skill sets; more and more are being asked of the employees.

I have gotten several interview invitations from the public sector for positions that are the same level as my current position. The salary, of course, is much lower. My current position pays more, but I am not sure if my manager sees the value of the work that I do. I do not manage a contract that warrants putting out fires or fixing things, since I have been watching what my contractors do pretty closely. The contractor hired under the contract was not aiming to not deliver in the first place anyway.

If a job offer materializes but the salary is significantly lower than what I currently get paid but offers other benefits, including: exposure to high-visibility projects, experienced managers, and potential salary growth and better retirement benefits, should I quit my current position to take the offer? Any advice on negotiating a salary offer that is much lower than what you currently get paid?

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AnonymousMarch 12,2024 at 2:06PM UTC
No one moves to the nonprofit sector for the money or package. It just isn't there.
AnonymousMarch 12,2024 at 2:43PM UTC
Right, but provided the differential in total compensation (including benefits) doesnt represent a huge disparity - the stress levels and corresponding quality of life might represent significant gains in the Public sector. I worked Public sector IT for five or six years and it had nowhere near the stress of working on the Technology side of finance does.
Marla FieldsMarch 12,2024 at 2:20PM UTC
You need to revisit the pros and cons of stay vs leaving. Do this when u have a negotiated offer on the table (and do negotiate, ask the salary range and make it clear why u believe u deserve the higher range). Make a spreadsheet and compare the compensation, stress levels, perceived advancement opportunities, retirement benefits, bonuses, etc. Backward in salary is not always a backward deal but make sure it is still enough $ to meet ur financial goals. Trading work stress for financial stress isn't great either.
Ultimately only u can tell if the opportunity is worth it.
Camille BorgmannMarch 12,2024 at 2:39PM UTC
You're the only one that can decide if the benefits and opportunities at a new company are worth a lower salary and the impact that can have on your lift. Ultimately, it's a very personal decision and the answer is different for everyone.
Anne KrookMarch 12,2024 at 4:19PM UTC
Make sure you look at total compensation, not just salary, including the value of benefits. Also consider how long you have to stay at the organization to become vested in whatever the retirement plan is.
If you have a financial advisor, you may want to go over your numbers in your current and possible new job with them. If not, there are calculators online that can help you with that (search on "online total compensation calculator" or similar terms)
AnonymousMarch 12,2024 at 4:38PM UTC
The only person who can intelligently respond to your question is you. Look at the viability of the company and its revenue stream and your role as being disposable or not . If you cannot afford to take a cut stay there head down until a role that is paying in alignment and title with what you have now comes up.
AnonymousMarch 12,2024 at 7:44PM UTC
SOUNDS LIKE CITI BANK
AnonymousMarch 21,2024 at 1:28PM UTC
I have done this. The big question is, can you tighten your financial belt enough not to feel resentful, and how long can you last at that level?
I went into a non-profit, so many carrots were dangled, but I negotiated to combine two part-time positions to become full-time with benefits and pay at the top of the band due to my master's degree.