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I have been at my current job for 2 years and I was just notified that they want to promote me to a lead of my team. What a great opportunity comes with a 15% raise . At the same time a company I had chatted a while back reached out with an even better offer of a 40% increase but not as a lead. I have been very loyal and love my job and they finally reward that but at the same time this other offer is a lot more money, I mean life changing for me. I’m stuck and wonder what I should do, I don’t want to seem greedy and it would be a gamble to leave during these times. Any advice helps

SeekingAdvice
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  • You also need to ensure your new job will be good for you. List what you like about your current job and what you can't do without and go from there. We can't tell you what to do but go with your gut. – Monstar Oct 14 '20 at 20:25
  • Will the 40% raise to leave not be there in future? Poachers are always offering top-whack salaries to those already at a given level, whereas your current firm is offering you a modest rise but in a new and more responsible position. – Steve Oct 14 '20 at 20:33
  • Why would taking a higher paying job make you appear greedy? To whom? Why would you care? I don't understand these "moral" dilemmas that people have about how much money they earn. – joeqwerty Oct 14 '20 at 23:42
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    @Steve A promotion is not universally a "good thing". There is a concept called "Promotion to Incompetence" or the Peter Principle. OP may be promoted to a level where he cannot excel and get "stuck". At that point, the 40% increase may actually disappear because it is a 40% increase on the PREVIOUS role, and not the new role. – Nelson Oct 15 '20 at 03:16
  • Does this answer your question? Leaving a job very early to accept another offer – Fattie Oct 15 '20 at 11:10
  • @Nelson, I agree, but that depends on the OPs level of competence and ambition. My point is simply that accepting a promotion now, is unlikely to forfeit overall earning capacity or future opportunities. If he does not excel in his new lead role, then he can simply drop down again 6 months from now, back to what he already excels at, and take the 40% increase on his old salary (if he wants to). Few recruiting employers would consider a person who has spent 6 months one grade up as a team lead, but for considerably less money than they now offer, to be overqualified or otherwise undesirable. – Steve Oct 15 '20 at 11:58

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You are making it a "raise vs designation" comparison and "new vs old"

Here are some questions you should ask which will make your decision more obvious

  • Is your current pay is lower than the industry standard or the new company is offering a significant jump?
  • Most often, recruiters pay higher jump because they want to fill the position but have lower increment during the tenure. Is this going to be the same in the new company? Or is that general pay scales are higher, because the new company is more profitable?
  • Is adding a new brand to your resume will add value?
  • Is the role in the new satisfactory? Will you enjoy the work? Will you grow with that profile?
  • Which of the company has a better work environment?
  • What matters to you most?

Answering these questions will help you resolve your choice.

Loyalty is important - but not at the cost of your career advancements. This should include holistic growth not just monetary gain.

Dipan Mehta
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