Contacted by recruiter for a job but waiting for retention bonus payment from existing employer

Anonymous

November 22,2023 at 5:46PM UTC

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Contacted by recruiter for a job but waiting for retention bonus payment from existing employer

Hello there, the company I work for, where I have a middle management position, leading a team of 8, has been recently acquired by a competitor.

Because my work was very important to prepare and execute the acquisition, I received a retention bonus equivalent to half of my annual salary. First half has just been paid and second after 3 months from acquisition that will be February next year. In addition to that at the end of March next year I will receive my annual bonus that is 25% of my annual salary.

While the new company is working on the re-org and for now I’m just told to keep doing my old job with my old team, I’ve been contacted by a recruiter for a very senior role to lead a department of 150 people. This is a multi national company I have worked for in the past. I had a first conversation with the recruiter and they are now asking me to have an interview with the hiring team.

I know that the chances to be hired are limited but shall I tell them upfront about the retention payments I’m waiting for in February and the annual bonus in March?

Obviously if the current employer decides they do not need me they will need to pay all these + redundancy and I’ll be free to start a new job in January but I don’t have idea of when they will decide…..

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AnonymousNovember 22,2023 at 5:56PM UTC
I would personally just go through the recruiting process and not say anything until an offer is on the table. You then can negotiate start date. It's the holidays and the hiring process is taking 4+ weeks on average anyways. I wouldn't even anticipate an offer until February.
misskelleypNovember 22,2023 at 5:58PM UTC
I'd go ahead and start the process, maybe drag it out a bit on your side. These days it's taking companies SO LONG to make a hiring decision, your timeline might be ok. If they come up with an offer and requested start date before you're ready, let them know why you'd like to wait. They may match one or more of the payments you're expecting if they really want you.
AnonymousNovember 22,2023 at 6:00PM UTC
sometimes you find a company that is willing to offer a sign-on bonus to replace what you're losing. It may not be all of it, but some of it. It shows good faith that they believe in you and want you on their team. Think about that vs. what you'd be losing.
KatNovember 22,2023 at 6:04PM UTC
Why would your severance/bonus structure matter at this point in the interview process? Are you prevented from interviewing until all payments are made? Or do you want to wait to start a new job until all severances and bonus are paid until starting a new job? These issues don't need to be brought up until you have a written job offer in hand. That could be months from now depending on the length of the interview process.
AnonymousNovember 22,2023 at 6:41PM UTC
Bring it up at the time you receive an offer. It is possible, if they want you bad enough, that they could come up with a signing bonus equal to what you would receive with current employer or even work that into your salary. That said, I wouldn't advise holding out specifically to get those paid. I'd hate to see you pass on a great opportunity in order to receive a bonus with current employer.
AnonymousNovember 22,2023 at 8:23PM UTC
I suggest never sharing personal and financial information. It doesn't matter in the least at this point. It's your personal business period. Transparency and full disclosure doesn't come into play.
You follow the process. Keep things alive but fo not rush to make decisions. Let everything unfold which will take time. There is money on the table and no offeres yet so just take a breath.
AnonymousNovember 22,2023 at 10:56PM UTC
You're getting WAY ahead of yourself. Don't say one word about anything but why you'd be a great fit for the job.
AnonymousNovember 22,2023 at 11:18PM UTC
Agree...lay low.
AnonymousNovember 23,2023 at 12:19PM UTC
Why would you sabotage your chances?
Crystal HowellNovember 23,2023 at 1:40PM UTC
Just add that to your new salary with your old company., and ask for sign up bonus since you were there before, they mistakenly let you leave. Think resume highlights, 8 folks to 150 to manage. Get paid, they need you more.
Debra SesholtzNovember 24,2023 at 1:06PM UTC
Sounds like you are getting a bit ahead of yourself. I wouldn’t say anything until you go through the interview process and mutually agree you’re a good fit. Then negotiate your start date for after you receive your current company payouts or the new company compensate you with a signing bonus or other compensation..
GirlBossanova934974November 24,2023 at 1:27PM UTC
I wouldn't tell this "new" company anything about retention bonuses or annual bonuses with your current company. Not a word! I would prioritize your getting a new job outside of your current company. Employers these days are only as good as the last check they paid for your labor. Loyalty is out the door. Retention bonuses are nice but I would NOT be sitting around wondering if the acquiring company was going to keep me around. Be gone with a new job in hand with both retention bonuses in hand if you can get them. A chance to manage 150 people is a nice step up. It should come with a nice raise. Be sure to get everything in writing. With that level of management, you SHOULD investigate signing an employment CONTRACT just in case someone decides to be stupid and get rid of you in a few months or rescind your job offer. AGAIN, Employers are only as good as their last check these days.
Maria Paula CalvoNovember 24,2023 at 5:38PM UTC
There is no need to open these events to a company that is in the process of evaluating whether they will make you an offer, until the moment they do so and these bonuses (retention, performance) should be good items for a concsious and well grounded negotiation. Don´t put yourself in a hurry, go step by step.
Joan Williams, Senior Talent Acquisition SpecialistDecember 1,2023 at 3:52AM UTC
So I've cruised past your question several times and finally decided to add my two cents.
As a recruiter, by not sharing this information, you are taking away my ability to help manage this with you. Am I speeding up the process when - if I knew this information - I would be slowing it down?
Have you asked them what their timeline looks like? Have they indicated they're anxious to get someone on board asap?
If we were to make you an offer and then you spring this information on me, my first question would be "you knew this all along and never told me about this?"
I'm pretty sure that that would also be the hiring manager's question first question to me - why is this the first I'm hearing about this. What do I say to them?
I understand the reluctance to bring this up but how would you feel if you interviewed for a position, got all the way through the process, they made you an offer and then sprung it on you that they didn't want someone to start until March. It's about setting expectations..
You don't have to give them all the details - you can say you have a significant bonus that you would be leaving on the table, would they be willing to work with you on a March start date. If you're not comfortable bringing it up now, see how the first interview goes - but I would not recommend you wait until after an offer is made.
Many times, the earlier in the process something like this is brought up, the less of a big deal it is.
Please let me know if you have any questions.
Good luck and please keep up posted.