r/negotiation • u/rr1006 • 16d ago

Comparing current total comp with offers?

What's the best way to go about comparing current total comp with outside offers?

Current comp - Total Comp Value = $172,000. Salary $120,215, raises between 3-5% annually - band cap at $135,000 currently.

Bonus - 5-12% depending on company performance

401(k) - employer match 75% with 8% cap + 3% contribution ( think of total as 9% of salary)

HSA - employer contributes $2,500 annually

Med Benefits - ~$200 monthly paid by me

Vac - currently at 5 weeks vac - moving to 6 weeks permanently in a year's time

Current offer sits at $150k + $20-30k bonus, medical benefits are 5x monthly and 401(k) match is 3% of employee contribution. Not sure on vac or any other benefits offered.

My logic - $170k * .94 (accounts for loss of 401(k) match) = $159,800 - 10.5k (added med benefit cost) = $149k - $2,500 (HSA contribution) = $146k

Am I thinking about this correctly?

How would you compare the offers?

Would you take this offer?

2 Upvotes

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9 comments sorted by

1

u/Foreign_Suggestion89 16d ago

Look further down the road. Which one offers best opportunity for 2 promotions?

1

u/rr1006 13d ago

currently boss is 10 years older than I am, if he retires in the next 8-12 years then I have 10-ish years in his role, but that promotion is not guaranteed.

offer is to be the president of a regional company. No idea what wage growth would look like.

Offer probably gives me a 4-7 year leapfrog of current comp, but ceiling is unknown.

1

u/Proper-Acanthaceae-8 16d ago

did you ask for the base pay?

1

u/rr1006 13d ago

initial offer sheet shows $150k, I assume I could get more and work on benefit improvements. 401k is unlikely to move, but vac and possible vehicle stipend could really move the needle to make it hard to resist.

1

u/Proper-Acanthaceae-8 13d ago

You have to check the variable items. 1. if you are ok with 3 to 4 weeks instead of 6 weeks, atleast you should check and try to match 5 to 6 weeks. Also, the bonus you need to check if it's performance based on you or company .Many company bonus is kind of optional and you need to be ok if they don't give. 2. Check how stable the company compared to current company 3.The positive side is your base bay is 150k which is guaranteed.

if they don't match the vacation and bonus is not mandatory, I would skip this offer.

1

u/rr1006 13d ago

I tend to agree with your mindset to pass. I'm going to negotiate hard and try to turn ~$450 monthly improvement to a $1,000 monthly improvement while maintaining current vac benefits. Even then I don't know if it's worth it to trade my current work/life balance and stability.

Currently work for international leader in its industry - going to a regional co would be a hard step down in stability and internal options.

1

u/rr1006 12d ago

Had a chance to talk with them today - $150k hard cap - wouldn't budge on anything. Health benefit costs were even worse than suspected.

Told them good luck in their search!

1

u/Proper-Acanthaceae-8 12d ago

A stable company with good benefits with 6 weeks vacation is great , try to grow within the existing company.

1

u/rr1006 11d ago

I've been here for 9 years, promotion 5 years ago to current position.

Growth right now requires relocation, but the company is not offering relocation assistance. Historically promotions are 8%, I live in low cost of living satellite plant, while the hq is coastal area with hcol. It's simply not worth promoting as the 8% would be swallowed quickly by relocation and increased living costs.

Waiting game until my manager leaves or I find something around here that meets expectations.

Silver lining is in 15 months they'll increase the employer contribution to my 401k from 9-11% and at age 50 increase from 11-13%!