SWE 2 Base $108,000, Bonus 14% Current TC 125,000 as a contractor Only gain would be paid time off and hopefully a sense of belonging YOE 5 Added bonus:-- office is across the street from where I live.
Maybe negotiate for up to 115k. The benefits of working in a company is much better than being a contractor
Change in other benefits? Insurance, 401k, etc? If not definitely should get at LEAST what you’re getting now (before adding the bonus), e.g. 125k+14% bonus. Do you have the option to stay on as a contractor or is it convert or leave?
Change in benefits yes Current Benefits PTO -- 0days, 401k Match -- 0, Bonus -- 0, Insurance -- $800 per month premium (although i recently switched to my wife's insurance as soon as I had the chance so she is paying $400 for the both of us) Caterpillar offer PTO -- 18days + last week of the year shut down, 401k Match -- 100% up to 6%, Bonus -- 14%, Insurance -- $200(for me and spouse together) I am currently with an other company not contracting at Caterpillar.
I do have a couple of onsite's coming up with MorningStar and CDW, should I tell the recruiter the same? And thank you very much for the advices you guys are posting, they are invaluable to me :)
Alot for Chicago
I’ve not done contract work, but as a contractor, don’t you have to pay both the employee and employer FICA & Medicare taxes? If you go on as an employee at CAT, then CAT pays the employer share of those taxes... which should be an immediate “pay raise” for you. No?
To be honest I have no idea 😔 will look through my paystubs and get back
You’ll have to look at your tax returns. As a ‘contractor’ did you receive a 1099 or W-2 statement at year end for your tax returns? If 1099, then likely you’re paying both the employee and employer share of FICA and Medicare. Again, I’m not a tax advisor, but I think this is the case. FICA is nearly 6% for employee and 6% for employer on the first ~$119k of income. So being a W-2 employee and not having to pay the 6% employer share as you do as a 1099, means you’re getting 6% more take-home pay as a CAT employee on the first $119k of pay.
You won't be disappointed with Caterpillar. Bonus is linked to your performance and if you perform better than expected then you can earn more bonus too. PTO and other flexibility is the best
Thank you for your insight, much appreciated 😊
Keep interviewing. You can do a LOT better than both offers in Chicago.
I had an offer from Caterpillar for 102k last month with 3 YOE but had a competing offer which they matched. Definitely think you could get a bit more with 5YOE. I didnt try to further negotiate but definitely felt I could ask for more. I think I'd aim for 115k for 5YOE at CAT. Decided to go with other offer due to personal reasons
Update?
Not worth. Suck it up and take the cash. But, lateral at a min or gtfo. Go at least 135, then "settle" for 125. Still, seems like a very crappy move to me. I'd have walked.
Thank you very much for the advice :)