[Anonymous]

Hello!

I’ve got a job offer from another firm, I haven’t negotiated my salary/benefits, that I will need to do tomorrow, but I am pretty sure they are going to be competitive. I have no idea what to do! I work for a privately-held company, and I think that it is the main reason why things are so clunky there, nobody is responsible for anything, financial reporting-wise, and nobody cares, because “the year-end audit is far away”. Since there’s no need to please shareholders and go through quarterly reviews, the quality of accounting is the least concern. I just can’t stand it anymore!

That’s why I am willing to move to a public company, where due to reporting requirements things just cannot be THAT ugly (from what I understand), plus I just need to have the experience of working with the SEC stuff to continue moving forward in my career. The problem is that the company I want to start with is basically of the same size (my current one is 170 mils, the new one – 220 mils), I am loosing the bonus that will be paid out in March if I leave, and one week of PTO’s, so I don’t know if that’ worth it. What do you think? Public vs. Private company, accounting-wise? Is 50 mils that big of a step forward in terms of complexity of accounting and quality of work of financial departments overall? My biggest concern is that once I pass the CPA, I will have even better opportunities, and I might be better off if I chill right now and start my job search in September, once I am done with all CPA exams. Please give me some peace of advice!!!

[fuzyfro89]

Don't negotiate SALARY. Negotiate TOTAL COMP.

Base + bonus (expected) + retirement match + other cash equivalent comp.

For me, the “other comp” includes a company contribution to an HSA. Bonus, retirement and other comp total to almost 20% of my base. Every company is different in terms of how they come up with the mix of total comp. For the same total comp (e.g. 50k) you'd want a higher portion of that made up of base rather than lower. After all, bonuses tend to fluctuate with company performance. Can be good or bad.

Either way, back to your question. THe offer stinks. 5% raise in base + bonus to move over? Unless you can't do better (you'll have to decide that, since I don't actually know) or don't think you can, then you should keep looking. You're going to 55.65k from 52.80k (base plus bonus). That's essentially nothing in the scheme of your career.

I'd suggest you really think carefully about the potential experience, and if it would be a good company to work for in terms of getting good experience.

In the short term, many different things drive your promotions and raises in both directions (shortage of qualified people, boss quits and you are the easiest to transition, city economy is in the tank and they give no raises, etc), but long term, it comes down to what you learn and develop over time in terms of marketable skills.

If the experience would be better AND you don't think you could get significantly more money/better experience elsewhere, then I'd go for it. The money alone won't be a driving factor here.

[Anonymous]

Thank you mla11962!

[Anonymous]

But in general are 5 percent bonuses standard? It is the first I hear about such low bonuses for salaried employees? I thought that 10 % should be standard.

[Author]

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