OV9

I’m having a moment of indecision so I’m looking for the opinion of (relatively) trustworthy internet strangers.

I’m thinking about applying for new jobs as I feel like I’ve kind of dead ended where I am. The only thing that’s stopping me is this.

We were bought by a venture capital firm last year and as part of my new contract I was given a stake in the company. It’s not worth anything just now but in 4 or 5 years when our owners decide to move us on or go ipo, it could be worth around £40k. Could also be worth fuck all of course

If you were bored but not necessarily miserable in your job would you look for new stuff or stick around for the payout?

If possibly getting £40k in five years time is the only reason to stay, then definitely leave! Get a new job that pays £10k p/a more to make up the money.

I voted “move on” as there wasn’t a “what’s the harm in applying?” option. Nothing wrong with seeing what else you might be considered for - you can make the decision around stay/go once you have received an offer from someone else and can make a data-based comparison.

Pete_ wrote: Mon Aug 08, 2022 7:58 am If possibly getting £40k in five years time is the only reason to stay, then definitely leave! Get a new job that pays £10k p/a more to make up the money.

What he said.

Also, changing may be better for your personal well being. I think most of us will have been in jobs/companies where we haven't been happy. Enjoying your job and the company you work in makes an enormous difference.

Pete_ wrote: Mon Aug 08, 2022 7:58 am If possibly getting £40k in five years time is the only reason to stay, then definitely leave! Get a new job that pays £10k p/a more to make up the money.

This. A former colleague got a potential £50k of shares when my previous firm was taken over. He had to stay 1 year to qualify to receive them. Despite that carrot, he left within the year. There's a reason why this sort of offer is made - it's not for the benefit of the employee.

Also worth adding that it's a great time to move due to what seems to be going on with salaries currently. Job market is buoyant as is salary growth due to lack of quality candidates.

There is the risk that if you move, you may well be the first to be cut in the forthcoming recession because you won't have the requisite 2 years' service to get full employment protection. Not sure if that is exactly the same in Scotland.

I voted stay, not necessarily for the payout (Pete is right), just because I'm risk averse and we're in a recession that could turn out to be a bad one.

Jobbo wrote: Mon Aug 08, 2022 8:11 am

Pete_ wrote: Mon Aug 08, 2022 7:58 am If possibly getting £40k in five years time is the only reason to stay, then definitely leave! Get a new job that pays £10k p/a more to make up the money.

This. A former colleague got a potential £50k of shares when my previous firm was taken over. He had to stay 1 year to qualify to receive them. Despite that carrot, he left within the year. There's a reason why this sort of offer is made - it's not for the benefit of the employee.

Yeah, I'm well aware that I got this because I was the only person who would've been considered core leadership before the buyout that didn't get a director promotion. I think that's the thing that rankles tbh, that and having to argue to death to get an underwhelming pay rise in April.

I do like my job and it works for me in a lot of ways. Especially being wfh in a sector that mostly requires people to be on site.

As Mik says what's the harm in applying. I've already seen one job that really appeals both from the new challenge it offers and the company it is. I'm updating my CV as we speak, so maybe I'm not being so indecisive

duncs500 wrote: Mon Aug 08, 2022 8:17 am I voted stay, not necessarily for the payout (Pete is right), just because I'm risk averse and we're in a recession that could turn out to be a bad one.

I'm the same Duncs, I was in my last job for 12 years and I've been here for nearly 7. I had considered that starting a new job when we're looking down the barrel of a bad recession is risky.

All of the above, as confusing as that is.

Pete_ wrote: Mon Aug 08, 2022 7:58 am Get a new job that pays £10k p/a more to make up the money.

Is it really that easy to get a new job with a £10k pay rise at the drop of a hat ? We should all do it....

So I'm agreeing with Mik. Brush up that CV. And I'll add some personal experience here, it's almost ten years since I got a job that I'd applied for. Everything else has come as a result of applying for something else, meaning my CV is floating about in a system somewhere, and getting a call out of the blue from an agency saying "would you be interested in <xxx>". Linkedin is good for this too.

Apply for a bunch of stuff even if it's not quite what you want. Make yourself visible.

Aye, I've never used linkedin but I must have a listing somewhere as reps keep finding me on it

Sundayjumper wrote: Mon Aug 08, 2022 9:23 am

Pete_ wrote: Mon Aug 08, 2022 7:58 am Get a new job that pays £10k p/a more to make up the money.

Is it really that easy to get a new job with a £10k pay rise at the drop of a hat ?

if you've been at the same place for ages, probably.

Not convinced that I would get £10k out of anywhere locally, My salary seems to be there or there about. Maybe £3k or so below what other places are offering for similar roles. Which was what I was hoping for earlier in the year.

ZedLeg wrote: Mon Aug 08, 2022 10:57 am Not convinced that I would get £10k out of anywhere locally, My salary seems to be there or there about. Maybe £3k or so below what other places are offering for similar roles. Which was what I was hoping for earlier in the year.

Don't go for a similar role go for one a level higher.


I don't exactly practice what I preach here Although most of my colleagues (on same level job as me) who have left recently have got jobs a level higher elsewhere so I'm trying to aim for that myself too.

That would be nice , there aren't many places for me to go up from where I am though. Like I said earlier, the next step up for me here would be director level.

ZedLeg wrote: Mon Aug 08, 2022 2:06 pm That would be nice , there aren't many places for me to go up from where I am though. Like I said earlier, the next step up for me here would be director level.

Do that then.

Not likely to happen for a while, fashion ecommerce has been on it's arse this year. Our target for the year was 20% growth, so far we've managed 1.5% and that's outperforming other similar companies.

Two of the new directors who were hired from outside last year were canned at the end of June.

With applications I'd rather apply for something at the same level that looks interesting than apply for a director level role just because it's a step up. I wouldn't want to apply for a position at another large clothing retailer.

Sundayjumper wrote: Mon Aug 08, 2022 9:23 am Apply for a bunch of stuff even if it's not quite what you want. Make yourself visible.

This. As SJ says, get yourself out there. You’ll get 50 calls/emails about stuff you don’t want but there’ll be one that is right up your street.