I'm considering a job with a 15% pay-cut as the go-shop has ended and no certainty on how long the titanic ship will continue to float before it hits the rock bottom. I'm neither excited nor sad, just responding to reality.
Any thoughts?
12 replies (most recent on top)
it wont get better but you still gave at least 6 months. Come on you can at least gind a jon that would pay the same or less than 10 percent cut. Urgency is good, desperation is bad
With recession looming and potentially 100s and 1000s being made redundant, there'll be plenty of competition kicking off once this deal goes through. At the end of the day everyone needs to make their own decision but personally I have my last day end of the month. If it is hard now, then it won't get any better in 12-18 months. That's my $0.02 anyway.
I would not take it considering the overall package. I would not care about the 15% cut in pay as that will not make much of a difference after taxes. However, given how much lower the bonus, health insurance, etc. is - you will end up regretting taking the job. Hold off until something better comes along. You still have a job so don't settle.
Sit tight or at least don't take it this opportunity unless there is other significant upside not shared.
Acquisition will either complete or not. If it doesn't....Continue as is
If it does...you'll have other opportunities to exit with severance.
Also, consider economic climate we are entering
I am considering job with 15% sal cut. Its worth it as there will be peace of mind. Salaries go up and down. There is 50% tax as well. So its not a big loss. But from VMware, its actually scary if the deal doesn't go through. There will be even more layoffs or some joker will buy for 110.
I'm considering a federal job where I'll be making 1/2 but has a pension, great WLB, 5 weeks of PTO and every other Friday off. Call me crazy 🤪
Check this out. A potential lawsuit adding the VMware Board over the Broadcom sale. HA!
https://www.brodskysmith.com/cases/vmware-inc-nyse-vmw/
Unless there's some other incredible upside, I wouldn't take that pay cut. You have time, I'd keep interviewing.
That’s too much. I would say hold off unless the job is truly a great growth opportunity or a career change that you want but taking a 15 percent cut is a financially life changing event
Unless you are without a job then accept no less than your current salary target.
Also, most places have terrible benefits and 401k packages, only a small handful of companies have great benefits, VMware, Cisco, Apple, Amazon and Google. Everyone else’s benefits plans will make you go for broke. IBM is the worst benefits and the worst to their employees… avoid IBM like the plague. VMware is a goddess in current acquisition state compared to IBM.
I sent many resumes and was hearing nothing back. Its important to realize it takes time for resumes to go through the system. I have had three interviews just in the past week with more coming in. This is just my opinion but this deal is not going to happen overnight. You've got time. Maybe don't jump at the very first thing that comes down.
Its not just the base pay cut, its the Bonus, more expensive medical plans and reduced 401k and wellness benefit. I am trying to run through the calculations now and it makes me sad :(