Should I stay for severance or go for a new job with a 20% raise?

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  • #98718 Reply
    USER

      So I’m getting laid off at the end of the year. Severance, bonus, PTO etc cash out will be quite a lot, almost half of my salary so I was going to stick it out till the end.

      However, a friend of mine referred me a job that is a higher position in the career direction that I wanted to switch to, with a 20% pay raise.

      My friend loves the company, it sounds like they have a very good culture. And the company seems upcoming, doing good.

      There is a good chance I might get hired because I already know some people there.

      There may be a slight chance I might be able to negotiate the current company for an early layoff and get partial severance pay.

      Would you stay or go??

      I’m pretty sure I’ll apply. I’m now wondering if there’s a good negotiation tip to get anything out of the current company?

      I don’t mind not getting the severance, but I have some long term stock that was gonna pay out upon layoff, and that would be tough to lose since it was over marinating for 5 years.

      #98719 Reply
      Flo

        Work both remotely and quit the old company at the end of the year as planned.

        You’re already leaving, work less hard

        #98720 Reply
        Fantasy

          I would go! Don’t pass up the new opportunity because you don’t know if a sweeter deal will be available at the end of the year and you may be forced to take a less than desirable position or company.

          Be the driver in your destiny and I’m certain it will be more lucrative and fulfilling!

          Best wishes.

          #98721 Reply
          Noa

            Cross that bridge when you get to it. If you haven’t applied yet, it could take months before you get an offer.

            #98722 Reply
            Susanne

              It’s practically August. Interviewing in September, probably accepting in mid- October.

              Let them know that you would want to start 1/1.

              #98723 Reply
              Jule

                I’d go. There’s a famous saying that says “An opportunity in hand is better than a hundred in the bush.”

                Grab the opportunity and avoid the chance.

                #98724 Reply
                Brad

                  For the 2nd offer, see if they can entertain a sign on bonus to add to the value.

                  Even so, you’re walking into guaranteed employment with higher pay.

                  #98725 Reply
                  Ingrid

                    I’m sorry you’re facing a layoff. It’s hard to lose that stock, but keep in mind, it is a brutal job market.

                    The hiring process can take a long time, so why not go through the application process and see what happens?

                    Once you get an offer, then you can see what feels right.

                    #98726 Reply
                    Trung

                      100% go apply. Who knows. By the time you can start the new job might be the same time you leave the old company.

                      You can use your vacation to stretch out your end date if needed.

                      #98728 Reply
                      Linda

                        Stay until you get a signed offer letter and a clear background check with the new company!

                        Hiring can take time so why not pursue both ideas?

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