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|Subject: Re: Ethical Question||Date: 9/29/2012 12:23 AM|
|Author: kahunacfa||Number: 48987 of 49426|
When I was in this position, I identified the company and not their offer and made it clear I wanted to stay, but I needed to be paid appropriately. I also stated that I believed I was more valuable to my current company. The reason I would not reveal the offer amount was:
1) I wasn't looking for a counter offer or match, I wanted to be paid for my value. If I was perceived as more valuable at my current company, my pay should reflect it. If I was perceived as more valuable at the other company, their offer would reflect it.
2) I didn't want any perception of a bidding war.
My current company offered 5% more than the other company. After agreeing to stay at the new rate I did show the offer letter to prove it was real.
You have a responsibility to care for your family, withing ethical boundaries, it supersedes your responsibilities towards your employers. Just as the managers responsibilities to the company supersedes their responsibilities to you.
Generally speaking, for line level or junior managers non-compete and no-hire agreements are deemed to stifle competition. Which is why they are unenforceable in some states.
Jack - JonathanRoth | Date: 9/28/2012 12:31:56 PM | Number: 48986
I like your approach. The only problem I would have had with your approach is that whenever I received another offer, that offer was always at least 50% more than my then current compensation and included stock options for tens of thousands of shares with full vesting after one year.
The result was that I took the offer. Then...
Three years later the company I left re-hired me as a new Vice President and head of a new Division within the Investment Department for over a 50% increase in base compensation.
2012 - 2019 or 20
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