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Move to competitor or not??

 
#1 Move to competitor or not??
17/09/2009 15:19

anon

In a bit of a predicament - currently working for Big 4 consulting division, have been on the team for year and a half and am up for promotion in the next six months. However, business has been slow so not 100% confident that I will actually be promoted!

Another big 4 has started aggressively headhunting from our team as they are starting a new team in the area I specialise in. Half my team has resigned to move across to the competitor, at the same grade/levels but much higher salaries.

I'm busy interviewing with the competitor, they don't want to bring me in at more senior grade but negotiable on salary. My current employer is obviously aware that we have all been targetted and have been trying to assure me that I will be promoted if I stay and are willing to review my current salary if thats my motivation to leave.

anyone been in a similar situation/have any thoughts?

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#2 RE: Move to competitor or not??
17/09/2009 15:34

anon to anon (#1)

maybe you can stay put, get a raise and promotion and benefit by playing the loyalty card

and then of course jump later, for another raise!

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#3 RE: Move to competitor or not??
17/09/2009 17:20

Anon to anon (#2)

Ask your current employer to confirm the promotion and pay-rise in writing. Tell them you want to be loyal but that you're being head-hunted by this other firm who are offering you significantly more money. If they're serious about keeping you then they'll arrange this otherwise these promises could all amount to hot air come judgement day.

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#4 RE: Move to competitor or not??
17/09/2009 21:07

anon to Anon (#3)

Agree with the last post, get it on writing, serious business is done that way, and longer term you may have good opportunities where you are as people leaving creates space for you.

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#5 RE: Move to competitor or not??
18/09/2009 07:42

Anon to anon (#4)

Let me ask you this:

Why did it take the threat of being poached by a competitor for your employer to suddently become "willing to review your salary"?

Promises are worthless. You want ACTION, not promises. Extra pay in your wallet, not hot air and 'reassurances'!

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#6 RE: Move to competitor or not??
18/09/2009 07:43

Anon to Anon (#5)

Also, you want them to beat any offer, not price match it and then make up their loss by giving you lousy increases in years to come.

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#7 RE: Move to competitor or not??
18/09/2009 14:11

Mr Cool to anon (#1)

How experienced are you?

Can you sell?

It makes a huge difference as to what you should do. Jumping ship is a good move if you have less than 3 years experience and/or have no interest in selling.

If you have what it takes to win business then you should stay, make it clear that you are now "running" the team, want to immediately organise candidates to interview as replacements on "your" team, and also get out there talking to target clients.

There are two opportunties in your lap. An easy move for an extra 5K-10K, OR your own little mini-practice as a stepping stone to partner.

Only you know which of the two of these you are ready for.

Takes brains to get a job with an MC? Takes balls to make something out of it.

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#8 RE: Move to competitor or not??
18/09/2009 15:54

predicament anon to Mr Cool (#7)

Thanks for all the feedback - I def. hear the argument for getting any "promises" from current employer in writing, but reality is we are far away from next promo cycle and I don't believe anyone can make that kind of commitment. if business does not pick up there is every chance we may have blanket freeze on promo's/bonus/& more redundancy etc. This is freakishly wierd timing to be in this position. Has anybody actually gotten such an assurance in writing from a partner before and how binding would it be if company announces non-promo/increases?

Mr Cool - I hear you and wish "mini-practice" was option as it would be a no-brainer then, (I can sell, and am not at junior level) but team is still fat at the director level. If I stay, likely I will be recruiting/upskilling all the junior new joiners but not getting much advancement out of it!

I would be interested to know if anyone has actually had the bottle to ask for promo commitment in writing?

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#9 RE: Move to competitor or not??
18/09/2009 16:23

anon to predicament anon (#8)

I'm the earlier poster re confirmation in writing and yes I have done this and this isn't a rarity. Speak to the Partner and HR will draw the binding confirmation if they're willing. I've been in a similar position and learned the hard way through inaction and hoping they'd keep to their "promises". If you have other options on the table you should really play your hand and seek confirmation. Regarding "freeze" blowing this out of the water ensure the written confirmation negates against this.

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#10 RE: Move to competitor or not??
18/09/2009 16:57

Mr Cool to anon (#9)

I did this once too. HR argued that a promo freeze might make it impossible to implement becasue other people could claim constructuve dismissal/preferential treatment, etc, so we agreed (in writing) that should that be the case I'd get the salary, bonus and car allowance for the higher grade, but not the title.

In the end I got the raise the bonus and the car as promised and had to wait six months for the title/grade. I was happy with the compromise.

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#11 RE: Move to competitor or not??
18/09/2009 17:15

predicament anon to Mr Cool (#10)

Thanks very much. I'm going to be bold and negotiate both sides as hard as I can (which I'm sure all the remaining souls on my little team are doing!) and make sure all in writing.

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#12 RE: Move to competitor or not??
19/09/2009 14:04

Guillermo to anon (#1)

My suggestion is that you look after your own interests and no promises are worth being considered unless they give you a signed letter including reviewed salary and new grade. If not, you'd better (politely) leave.

Otherwise you may regret that mate. This is my experience. Consultancy is not like Unicef business!!

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#13 RE: Move to competitor or not??
04/10/2009 18:57

BigWords to Guillermo (#12)

Why does the payrise has to wait? All the cases I've seen they have promised to increase pay immediately.

Another thing I have seen is a colleague been promised a promotion in the next round for staying, but it never happened. Some other partners didn't vouch for it, some other people were first in line and what ever :)

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#14 RE: Move to competitor or not??
12/10/2009 15:07

anon to BigWords (#13)

Thanks for everyone's thoughts - feedback on how it all went and a caution to other people in this situation in future.

I took my offer from big 4 competitor to the partners and discussed my reasons for wanting to resign. They came back with a verbal counteroffer which exceed the competitors offer (slightly!), which sounded fair to me. I asked for it to be confirmed in writing and for a few days to think it over.

Few days later (after mass charm-offensive/reassurances from partners that counteroffer commitments would be met and had been signed-off at the highest levels), partner comes back to me that they have to change the counteroffer (to something less favourable!) as they don't think they can get it approved in the current climate of cost control!

Fortunately, I had not turned the competitors offer down yet - so have decided to politely decline counter offer #2 and move on.

Lesson learnt - beware verbal commitments, however sincere/well-meaning they may appear!

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