The company officially made me an offer yesterday, but after much deliberation, I decided to turn it down. I know it is a very good opportunity, and it may be a once in a lifetime chance to get selected for an Asia Pacific Regional role in an American Multi National Corporation, but there are a few things which I am not comfortable about.
When my headhunter approached me, I said I was not in any hurry to move, but because the job scope sounded pretty exciting and plus it is a regional role, I decided to just give it a try. I was told the company is willing to pay, and I can easily ask for a fifty percent increase in pay, so I indicated my expected salary as an amount about forty-eight percent increase.
During the first phone interview with the company, they did not dispute the amount. In fact, when I asked them what was their budget, they told me they had no budget, as long as they find someone for the post. During the face to face interview last Friday, there was no dispute over the remuneration as well.
Then when I went on the second phone interview on Monday, all of a sudden I was told the market was going down so they could not afford to pay me that much. Nevertheless they will try to get the best deal for me. But when they finally gave me the offer, it was such a letdown, because I was only given a fifteen percent increase in monthly remuneration, and a six-month contract which gives an additional half a month bonus upon completion of six months!
From almost fifty percent to just a mere fifteen percent, it is about a thousand at stake every month! So I negotiated for at least thirty percent increase, to which they also said no. I am not going to forfeit a three month bonus, one month incentive, plus an annual pay raise of ten percent and a relatively comfortable permanent post just for a fifteen percent increase, with no bonus, and a six month contract with just half a month bonus!
What is going to happen to me after six months? Am I to be out of job again? It is not because of the money, but because of the insecurity of the situation. I do not want to be hopping around every few months again! I did a calculation, and it turns out that even if they pay me a thirty percent increase every month for six months, I will still stand to lose out with whatever bonus my current company is going to give me!
Even if money is not the main factor, still, it does not give me any justification to move if I stand to lose more moving than not moving! I need the cash at this time! The role is very challenging and I really like to go for it, but why must I shortchange myself this way, to do twice the work and not much of a difference in pay? I negotiated with the company on whatever I stand to lose if I move now, and still, they are not able to counter offer that. So what is the point? It is too much of a risk!
Yes, I turned down what could be a dream job, but the offer is really too paltry. I have friends telling me to go for it as it is like a once in a lifetime opportunity to be able to get selected into such a global role, but if the company is really sincere in offering me the job, they will work out something reasonable so I will not stand to lose so much. So far most other companies I worked for have acceded my requests. Even if they cannot match what I asked for, they will go just a bit lower, but not so much lower!
Oh well .... seems like I will be stuck here for a while more! Anyway today another headhunter called me and told me about two more job openings, both in-house - one another Asia Pacific regional post in another American Multi National Corporation, and the other an offshore role in an international firm. Pretty exciting opportunities! I shall just see how that goes!
When my headhunter approached me, I said I was not in any hurry to move, but because the job scope sounded pretty exciting and plus it is a regional role, I decided to just give it a try. I was told the company is willing to pay, and I can easily ask for a fifty percent increase in pay, so I indicated my expected salary as an amount about forty-eight percent increase.
During the first phone interview with the company, they did not dispute the amount. In fact, when I asked them what was their budget, they told me they had no budget, as long as they find someone for the post. During the face to face interview last Friday, there was no dispute over the remuneration as well.
Then when I went on the second phone interview on Monday, all of a sudden I was told the market was going down so they could not afford to pay me that much. Nevertheless they will try to get the best deal for me. But when they finally gave me the offer, it was such a letdown, because I was only given a fifteen percent increase in monthly remuneration, and a six-month contract which gives an additional half a month bonus upon completion of six months!
From almost fifty percent to just a mere fifteen percent, it is about a thousand at stake every month! So I negotiated for at least thirty percent increase, to which they also said no. I am not going to forfeit a three month bonus, one month incentive, plus an annual pay raise of ten percent and a relatively comfortable permanent post just for a fifteen percent increase, with no bonus, and a six month contract with just half a month bonus!
What is going to happen to me after six months? Am I to be out of job again? It is not because of the money, but because of the insecurity of the situation. I do not want to be hopping around every few months again! I did a calculation, and it turns out that even if they pay me a thirty percent increase every month for six months, I will still stand to lose out with whatever bonus my current company is going to give me!
Even if money is not the main factor, still, it does not give me any justification to move if I stand to lose more moving than not moving! I need the cash at this time! The role is very challenging and I really like to go for it, but why must I shortchange myself this way, to do twice the work and not much of a difference in pay? I negotiated with the company on whatever I stand to lose if I move now, and still, they are not able to counter offer that. So what is the point? It is too much of a risk!
Yes, I turned down what could be a dream job, but the offer is really too paltry. I have friends telling me to go for it as it is like a once in a lifetime opportunity to be able to get selected into such a global role, but if the company is really sincere in offering me the job, they will work out something reasonable so I will not stand to lose so much. So far most other companies I worked for have acceded my requests. Even if they cannot match what I asked for, they will go just a bit lower, but not so much lower!
Oh well .... seems like I will be stuck here for a while more! Anyway today another headhunter called me and told me about two more job openings, both in-house - one another Asia Pacific regional post in another American Multi National Corporation, and the other an offshore role in an international firm. Pretty exciting opportunities! I shall just see how that goes!
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