Almost equal or not equal? Steps forward?
Hi. I’m new to this app. Curious to know your thoughts on my decision. I am 25 and in construction accounting. Currently I work as a consultant through a staffing firm but they asked me to come on full time. Current position: - Hourly capped at 40 hrs per week - 85k base - Medical premiums paid for me (not spouse but she is 24) - 3 weeks pto Offer: - Salary position (45hrs+) - 72k base - 15% base (13k) per year into retirement account no contribution needed fully vested after 6 years - 3k per year hsa - Medical premiums for spouse and I - Stock plan that pays out at 7 years valued at roughly 20k per year for 6 years (let me know if I’m not clear on this one) total value ~120k payouts - 3 weeks pto This has been a really tough decision for me and they added on the stock plan and an extra week of pto with negotiations. I ended up asking if we could table the conversation for 6 months after they mentioned that we could do this. Would love to hear your thoughts/comments!
There will be very few, or no people here, who know the market for construction accountants. If all things are equal, my personal preference would be full time, but that's up to you. In terms of the offer, I have never heard of a 7 year best structure, it is usually 4 years for people in engineering.
*vest
Yeah it’s 5 year vesting period 20% per year for retirement. 0% at year 1. And 6 years for the specific type of stock which are awarded after a year
Know what your likelyhood of staying for the full 7 years. If you don't vest it all, your retirement and stock, you are better off in your current job. Do not take it if there is much more growth in your career possible at other companies, because you will feel trapped in your role and feel that you will loose out on the unvested portion. Also, consider why they have that structure. They may have an issue with employee retention. Amazon has a strange vesting structure and a small percent of people see most of the vesting.
That’s a really great point that you’ve made. I’d like to say I’m still early in my career and it would definitely make me feel like I have to be tied down. Thank you!
You’re relatively young. Continue contracting at the higher rate, get more experience, increase your value and build your network. Land a full time role later.
It looks like the voting is pretty even. Can anyone elaborate if they voted to accept the offer?
Wait, do you mean that stock offer has a 7 year cliff???
Yeah, kind of a long time... It also buys you out of the stock though so you don’t own it anymore at 7 years so you have to either earn that type again or earn the actual revenue share stock that doesn’t get paid out but distributes.