Posting anonymously due to the confidentiality in my offer.
My company is about to be acquired, within the next 6 months or so. I have been at this job for 4 years and have been promoted once thus far. I am a top performer at work consistently. I am also a subject matter expert in a specialized area, and the only person who can do about 40% of my job duties (i.e. if I quit, they would be screwed). I have 8 years experience in this department, 12 in industry. I make low six figures with a 15 % annual bonus, which I always hit, sometimes exceed.
I have been interviewing at another company for a role that would be a great step up in my career, but it has been dragging for 2 months now, and I am not sure if I will be selected/I can't bank on that/nor can I use it to negotiate before this signed agreement is due back to my employer.
People have been quitting en masse at my company and within my department. We are having trouble replacing people, because who wants to come work for a company that won't exist in a few months (plus our reputation is not that great as of late in the industry circles)? I am worried that at least two of my coworkers in my group will quit before this year is over, thus increasing my own workload significantly. I have 2 people who work for me who could be laid off/I know they will not get a retention offer, which would also increase my workload.
So, last week the head of my department offered me a retention bonus. It is about 9 months salary, paid in one lump sum, upon completion of a fixed term (through December 2019). I will get the check 30 days after. I will still get the money if the acquisition falls through. I will still get the money (within 90 days) if I am laid off before December. I am still eligible for my normal severance package/this offer has no bearing on severance.
Obviously I would be dumb NOT to sign it, so I plan to. However, I am wondering if I should ask for more. They clearly need me. If I were to quit, they would need to hire a consultant to do a large chunk of my work, in order to meet external deadlines (think government obligations/laws that will not let them postpone this work).
I was mulling over asking for more. I could ask for:
- A promotion (I am already doing the level of work of the next rank above me, due to department reorganization last year, however I have not gotten the title nor the salary bump)
- More money (12 mo salary? I do feel like the 9 mo offer is already generous)
- Stock options (I already have a decent amount of stock that is somewhat worthless, might change after acquisition)
- An extra week of vacation (I can likely work this out with my boss directly, to be taken before end of this year/while he is still my boss)
While I do not want to be greedy, I know the next 15 months is going to suck. I do love my job, and my boss is amazing. I will be working 50-70 hours a week during the busy months in 2019, I will be staying on a sinking ship longer than a lot of other people in my department. My company is desparate to retain high performers. If there is opportunity to get more, I would like to at least try. I will still sign the offer if they say no to me.
Thoughts?
TLDR: Received a retention bonus offer letter, unsure if I have any leverage to ask for more than what was offered.
Submitted September 10, 2018 at 09:06AM by 987456-12 https://ift.tt/2CQrzJ1
