Long story short I have a cushy, safe job at the moment but they won't promote me due to constrained budgets. I am in the process of getting some big money offers in another company/industry but I'm also pricing in a destructuve recession in the following 12 months and I don't wanna get caught with my dick in my hand. Being the new and highly overpaid guy in a company just means I'll be the first guy the CEO wants to get rid off.
How truly bad can shit hit the fan if things get 08 tier? Can you advise a younger guy on which discounting factor should I use when valuing the present values of job offers? I'm thinking that if I at least demand a 100% increase in total comp then technically I could work for 12 months, get fired due to recession, and then live off my 2x savings for another 12 months as I struggle to find a new job in the middle of economic chernobyl. That being a worst case scenario, of course, as I could get lucky and not even get fired.
Lol this is super similar to the situation I'm in. I've been explicitly told they want to keep me around for a promotion 'at some point' but it's also more of a 'we'll do our best to accomodate you'...so basically all up in the air and nothing remotely substantial. And I'm underpaid at this level by about ~15% if I'm doing my math right
However, it's a place I've been at for a long time and I've basically been told even if things get bad economically I'm highly unlikely to be let go (they'll let go of way more other people vs letting go of me). And that seems to ring true with the firm's history and the culture here as well. So I'm debating whether I should jump for an Analyst seat and try to increased my total comp by 60-80%...but that's a risky enough in good times as now you're the guy who has to justify their salary with an entirely new team / set of personalities. In these times it feels untenable. I guess I'll just have to ride it out which sort of sucks because I was looking to move cities soon
I feel you, also underpaid in terms of salary which is annoying. Despite a nice promote, titles are peanuts. But loyalty plays well with the team, have already proven my worth to the bottom line/bosses pockets, and the firm's got long-term stability so security is no issue. I personally think it's better to just knock it out of the park and hunker in for the next 1-2 years, we see a reversal in terms of markets and new opportunities (if not, then moving will be the least of our problems) and can expect to see that much more of a delta when/if we do decide to move.
Can't speak to the move to new cities point since I'm fully remote, depending on how markets are behaving I might just look to swap countries for a year or 2 just to save up a chunk and have a ball south of the border for a time. For now though I think it's best to stick to the ship you're on assuming it's successful vs try to brave the open ocean because there's some spooky stuff in the water I don't feel like tangoing with.
Curious about the fully remote aspect of your job. It's my understanding most PE firms are at least hybrid to maintain "culture" and especially to help new associates get up to speed. Why has your firm allowed for full remote working? And do you think it has any impact on the work and culture? Genuinely curious as I've always wondered if something like this is is out there.
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