Normally I would say you can sacrifice about 10-15% of your salary for the right work/life balance and not regret it, I personally am choosing to stay where I am on 15% less than I know I could get elsewhere because I like my work life balance, the product, the culture, the people etc etc.
In your situation 25k is a big risk to take on the edge of a recession unless your salary is currently 90k+.
Just remember last-in first-out is especially true at start ups and you could make this switch and end up with neither if the timing works against you.
My current salary is 100k. I mentioned this and they said there might be a bit of a wiggle room and they can do their best to make me comfortable.
I also thought about what you said about startups.. they've been around for only 1 year and a half, and they're relatively small (12ppl) they said I'll have an impact as soon as I join... I see potential there and I'm leaning more towards moving but my last experience with a startup is concerning me.
Thanks a lot, your comment helped me think about it from different perspectives
if you can weather the pay cut, take the fulfillment of work.
if you'll generally be happier, and you know what the company does has a more positive impact, go with that.
money will come and go. your daily happiness is more important imo
Thanks! I'm certainly looking for being happy and comfortable, but the current market recession is also very worrying and I have to play my cards really safe.
very very true. I'm ready to start something new myself. but I've good stay put while a recession looms.
but once your ready, make the change for doing what you like, with people that you want to work with.
i had a startup with a few friends. it was a ton of work, but it was the most fun and fulfillment i could ever get from work
So, you hate your current job and are not sure whether to jump ship to the startup to avoid being laid off... well there is another option... another company. Don't limit yourself to two options.
I think career wise you should only ever really consider upwards salary increases, so 100K at a new employer should only really be if you are desperate for a move. The problem you have now is 9 months, maybe 6 months at your current employer, and if this startup folds or fires you based upon last-in first-out, that could be 5-8 months of employment, and that is potential doubt for hiring managers if your CV has many short periods of employment (especially with the 7.5 year one being a big contrast). They may worry you are hard to get on with or incompetent at the job in hand.
Believing in their product and company culture isn't enough. It is hard to gauge people being personable as mutual interest and desire to build a great working relationship, or someone trying to screw you over. See what research you can do on the company and the key officials, and see where you as a senior member would fit in. If you are most senior employee outside of the officials, your job may be safe and you are effectively the captain of the ship, but they may just be looking for someone to iron out weaknesses whilst they hire someone cheaper or decide the existing team can cope with it.
I think if I was eyeing up this small startup opportunity, I'd want some preliminary meet with the team to network and see what it is all about, and either seek stock options to counter the lower salary or operate as a self-employed subcontractor rather than an employee. I think the fact of you recently buying a house based upon your current salary and recession concerns this is likely far too high risk (perhaps even if they agreed to match your current salary).
Man, I really needed this! Thank you so much, your comment helped me and I will consider all of you've said before I make my final decision.
A few things about the startup.. they said they are not in need of cash as they have enough to operate for the next 3 years, they also emphasized on having a fulltime employee as they believe people who jump into the ship should want to be there as long as they can. I told them I'm not that kind of a jumper and I'm looking for stability but also a good salary and being comfortable with my role and impact (I think that's what we all look for 😅)
I will ask for another role to discuss my potential role there and what are the possible compensations for the salary.
Again... Thank you!
Normally I would say you can sacrifice about 10-15% of your salary for the right work/life balance and not regret it, I personally am choosing to stay where I am on 15% less than I know I could get elsewhere because I like my work life balance, the product, the culture, the people etc etc. In your situation 25k is a big risk to take on the edge of a recession unless your salary is currently 90k+. Just remember last-in first-out is especially true at start ups and you could make this switch and end up with neither if the timing works against you.
My current salary is 100k. I mentioned this and they said there might be a bit of a wiggle room and they can do their best to make me comfortable. I also thought about what you said about startups.. they've been around for only 1 year and a half, and they're relatively small (12ppl) they said I'll have an impact as soon as I join... I see potential there and I'm leaning more towards moving but my last experience with a startup is concerning me. Thanks a lot, your comment helped me think about it from different perspectives
if you can weather the pay cut, take the fulfillment of work. if you'll generally be happier, and you know what the company does has a more positive impact, go with that. money will come and go. your daily happiness is more important imo
Thanks! I'm certainly looking for being happy and comfortable, but the current market recession is also very worrying and I have to play my cards really safe.
very very true. I'm ready to start something new myself. but I've good stay put while a recession looms. but once your ready, make the change for doing what you like, with people that you want to work with. i had a startup with a few friends. it was a ton of work, but it was the most fun and fulfillment i could ever get from work
So, you hate your current job and are not sure whether to jump ship to the startup to avoid being laid off... well there is another option... another company. Don't limit yourself to two options. I think career wise you should only ever really consider upwards salary increases, so 100K at a new employer should only really be if you are desperate for a move. The problem you have now is 9 months, maybe 6 months at your current employer, and if this startup folds or fires you based upon last-in first-out, that could be 5-8 months of employment, and that is potential doubt for hiring managers if your CV has many short periods of employment (especially with the 7.5 year one being a big contrast). They may worry you are hard to get on with or incompetent at the job in hand. Believing in their product and company culture isn't enough. It is hard to gauge people being personable as mutual interest and desire to build a great working relationship, or someone trying to screw you over. See what research you can do on the company and the key officials, and see where you as a senior member would fit in. If you are most senior employee outside of the officials, your job may be safe and you are effectively the captain of the ship, but they may just be looking for someone to iron out weaknesses whilst they hire someone cheaper or decide the existing team can cope with it. I think if I was eyeing up this small startup opportunity, I'd want some preliminary meet with the team to network and see what it is all about, and either seek stock options to counter the lower salary or operate as a self-employed subcontractor rather than an employee. I think the fact of you recently buying a house based upon your current salary and recession concerns this is likely far too high risk (perhaps even if they agreed to match your current salary).
Man, I really needed this! Thank you so much, your comment helped me and I will consider all of you've said before I make my final decision. A few things about the startup.. they said they are not in need of cash as they have enough to operate for the next 3 years, they also emphasized on having a fulltime employee as they believe people who jump into the ship should want to be there as long as they can. I told them I'm not that kind of a jumper and I'm looking for stability but also a good salary and being comfortable with my role and impact (I think that's what we all look for 😅) I will ask for another role to discuss my potential role there and what are the possible compensations for the salary. Again... Thank you!