Boss just floated a promotion, do I take the title or money?

[Anonymous]

A big internal shakeup happened and who we report to at the c-suite is changing. Several people were laid off after earnings and the reorg seems to be coming quick. This is a Fortune 500 company and public. Boss mentioned we have 2 new slots and that means a promotion for two of us (small team of 3) and slotting 2 new junior members.

I’m currently a manager, but just started last year. We are underpaid relative to industry standard (but QOL is incredible). I have a friend poaching me for a job that’s at the same level, but above industry standard. The promotion would still put me at or slightly below the new jobs pay.

Am I crazy for considering waiting for the title now, and assuming that it will open more doors? Under 1 year from manager to SM is pretty uncommon in my field, except for rock stars.

Boss is absolutely not a carrot dangler either. He’s been true to his word on every occasion and doesn’t BS me even down to little things. Really good person.

Can I get someone else’s thoughts?

[Anonymous]

You don’t mention any other factors (QOL at the new job etc) so based just on the money vs title, I’d go for the money. Titles don’t mean very much, and especially if you’re talking about the difference between manager and senior manager. Maybe different if it’s executive level at a F500. Besides, titles don’t pay the bills. Since it’s a friend trying to poach you, perhaps you could have a frank conversation about promotion potential at the new company.

[Anonymous]

I couldn’t care less about the title but if your work life balance is amazing and the salary ends up about the same, I'd probably stay. Depends on the risk of further layoffs and how stable your friends company is too.

[Anonymous]

I'd stay. QOL is everything. My friends, spouse, and myself are all around the same level in our careers- SM to Directors- and it is STAGGERING the difference in happiness, marital satisfaction, parenting bandwidth, and mental health state vs those in companies that value QOL and work life balance and those who don't.

[Anonymous]

I’d stay. Moving for friends can be dicey, in my experience.

[Anonymous]

I would stay. You like where you are and will get a promotion. The other job comes with a lot of unknowns and the risk doesn't seem worth it.

[Anonymous]

Stay and take the money.

[Anonymous]

Anonymous wrote:Stay and take the money.

+1. The devil you know...

[Anonymous]

Stay and take the promotion. Will get a bump in base pay and bonus %, plus probably better stock options too.

I wouldn't trade that for an unknown.

[Anonymous]

Stay home gurl

[Anonymous]

A great boss who is your advocate and a good QOL are worth substantial amounts of comp, IMO. Plus, you have a good feeling of the amount of stability in your current department and LOB, and you’d have to feel all that out again if you jumped ship.

Promotion means you’re given a broader area of responsibility, which means you will continue to be challenged to grow, and you can always apply to other jobs in a year or so, and at that point you’ll be better positioned to get a 15%-20% bump in TC when you make your move because you will be that much more experienced.

[Anonymous]

Anonymous wrote:A big internal shakeup happened and who we report to at the c-suite is changing. Several people were laid off after earnings and the reorg seems to be coming quick. This is a Fortune 500 company and public. Boss mentioned we have 2 new slots and that means a promotion for two of us (small team of 3) and slotting 2 new junior members.

I’m currently a manager, but just started last year. We are underpaid relative to industry standard (but QOL is incredible). I have a friend poaching me for a job that’s at the same level, but above industry standard. The promotion would still put me at or slightly below the new jobs pay.

Am I crazy for considering waiting for the title now, and assuming that it will open more doors? Under 1 year from manager to SM is pretty uncommon in my field, except for rock stars.

Boss is absolutely not a carrot dangler either. He’s been true to his word on every occasion and doesn’t BS me even down to little things. Really good person.

Can I get someone else’s thoughts?

What more do you need ?

[Anonymous]

The amount of the pay difference matters. $5k/yr or $50K/yr?

[Anonymous]

You have a great boss, who immediately thought about you for a promotion when one became available and a great QoL? Cannot imagine why you'd leave.