Work perspective...

NYCBlueBlood said:
Now that they have offered you the bigger job, I'd probably recommend letting the severance option pass... especially if this is an annual event with them.

10 years ago I negotiated a deal with my division CEO to lay me off in return for me hiring and training my replacement. He didn't need me any more. I'd built the function from the ground up, now he could plug in somebody with a lot less experience to keep it running. We made the deal, but fortunately/ unfortunately, before I could execute it, I was separately offered the same role in a different division of the same company 10x the size of my old one.

While I really wanted that severance package to go traveling around the world in my newly divorced (again) life, I knew very well the PTB up the chain would kill my severance and claim I'd quit if I turned down the new larger role. They offered me a minor pay bump to take on the new role (mostly bonus). It was A LOT more work for only a little more money up front, but as I proved myself, they made sure it was in my best interest not to leave... and 10 years later, I'm making 3X what I was earning in the old role (when you count bonus and stock).
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That's great.

A big reason I would want the pay grade and not just more money, is the bonus and stock options.

My bonus now baselines at 15% of my salary with an individual multiplier and a business multiplier, both of which have been over 100% the last 5 years. The new pay grade would be a 20% baseline.

I don't have 10 years, but I could imagine making 3 times what I currently make. I'd save 50% and retire sooner.
 
UNCatTech said:
That's great.

A big reason I would want the pay grade and not just more money, is the bonus and stock options.

My bonus now baselines at 15% of my salary with an individual multiplier and a business multiplier, both of which have been over 100% the last 5 years. The new pay grade would be a 20% baseline.

I don't have 10 years, but I could imagine making 3 times what I currently make. I'd save 50% and retire sooner.
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I'm very jealous of 100%+ bonus funding. My company sets very aggressive targets. When we hit/ exceed them, I get big bonuses... 150%+ of target... when we don't, I get 50% or less.
 
NYCBlueBlood said:
You get to know you're part of something having a net positive impact on the world... while my company is certainly not "bad", we are definitely in it for the money and not positive social impact. I often fantasize about taking the pay cut to go somewhere where I felt like I was a part of positive change.
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That is actually one component of my job that has kept me around. We make everything to help people's vision. We help people see, which is a great thing. I've read that close to half the world population needs some type of help with their sight. I feel good that we make a product that solves that issue.
 
gregh1 said:
12% 401k !
They match 12%? Amazing if so.
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It's actually a little better. I get 6% if I put in Zero. The other 6% is a match of what I put in.

I put in 15%, so I'm putting away a decent amount.

My wife's company doesn't match, they give them a once a year lump sum based on performance. She puts in 20%. This year the company gave them 10%, so pretty good overall. I hope she catches me, so we can each just keep our own account.
 
UNCatTech said:
That is actually one component of my job that has kept me around. We make everything to help people's vision. We help people see, which is a great thing. I've read that close to half the world population needs some type of help with their sight. I feel good that we make a product that solves that issue.
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I don't know that any of this would involve your product but I was literally thinking yesterday as I was driving how big a difference cataract surgery and corrective lenses have made in my life. You should feel good about helping people with that.
 
NYCBlueBlood said:
I'm glad I'm not the only one who had that reaction...
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I'm also grandfathered in because I came with the building. 😁

People hired now only get 6%. Because since the spin off the company is getting tighter and tighter.

These are things that make me really appreciate the company and how fortunate I am to have the career that I have had. I'm thankful everyday for the fortune I've had.
 
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NYCBlueBlood said:
I get 4% if I chip in 5%... 100% match on first 3%, 50% match for next 2%.
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My company has went up and down over the years. When I first started, in 1993, they didn't give bonuses and the 401K was 50% on the first 5%.

But it's been 12% for at least my last 12 years.
 
NYCBlueBlood said:
I'm very jealous of 100%+ bonus funding. My company sets very aggressive targets. When we hit/ exceed them, I get big bonuses... 150%+ of target... when we don't, I get 50% or less.
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We have not always had bonuses, but I can only recall one year it being less than 100%. I've never had an individual multiplier under 100%.

The max our BM can be is 150%, it's never been that, but 3 years ago it was 148%.
Mostly it's between 100-110%.
 
finesse said:
I don't know that any of this would involve your product but I was literally thinking yesterday as I was driving how big a difference cataract surgery and corrective lenses have made in my life. You should feel good about helping people with that.
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Yes, we make the equipment and the lenses for cataract surgery. We make kits with everything needed to perform the surgery. We also make follow up solutions.

The only thing I know of that we do not make is frames for Eye Glasses. One company owns basically 90% of that market.
 
UNCatTech said:
That is actually one component of my job that has kept me around. We make everything to help people's vision. We help people see, which is a great thing. I've read that close to half the world population needs some type of help with their sight. I feel good that we make a product that solves that issue.
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That's cool, makes it easier to stay around. My company helps lockheed and navy implement software predictive modeling (ai) to improve drones... 🙃
 
rodoheel said:
Will Smith Wow GIF by Bounce
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For what its worth NC State employees chip in 6%to a defined pension A few yers ago the Legislature put in 14% Typically a lot less-but sometimes
I have been retired 10 years-zero permanent raises. They saying its coming
lol
 
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