[USER]

Hi hive mind! My company removed our variable comp late last year, so my base is all I have now, which basically put me at a 22% pay cut.

I have the opportunity to accept a job offer that is a 40-49% base salary increase (depends if I can negotiate to the high end of the range). With variable comp, total comp has the potential to be 100% my salary.

It’s a huge jump because I would be moving to a very senior individual contributor role – think: 2 promotions.

My only hesitancy is this economy and the job market. The recruiter transparently told me they did layoffs a few months ago, but only entry level roles were impacted. That makes me feel better but still, layoffs are layoffs. The role is a backfill.

WWYD in my situation? I was thinking the increase could move the needle so I can super save, but by the same token, a layoff could negate all that too and put me where I started.

[Jule]

Layoffs can happen anytime and at any company. Including your current employer. Just leave in very good terms and take the new job. You will learn, grow and become more valuable in your skills and experience. You can always go back.

[Nick]

If it’s 100% more, you only need to work 6 months to make the same money you make in a year. Or work two years to make the same you make in four. So even if they lay you off 6 months from now, you’ll have earned another 6 months to recharge your batteries and find something else.

[Joe]

If your current employer is cutting compensation, it’s possible that layoffs are also in the future at your present job.

[David]

If they’re hiring after cutting jobs – the layoffs may not have been a financial need. Rather a strategy to use the Dynamics of this economy to cut low performers and uplevel the team.

Layoffs could happen anywhere, anytime, for a lot of reasons. I wouldn’t worry too much about the security and go for the pay increase.

[Author]

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