13 months pay vs 12 months pay???

[Crashburner]

Hi all,

 

Need some advice please.

 

I had been made an offer based on 13 months payout vs the norm of 12 months and would like to seek opinion or advise on whether am I on a losing end as the increment is very little monthly.

 

For example, I am currently drawing $2800 on a 12 months basis. The new company is offering me $2900 on a 13 months basis which means the 13th month is a fixed bonus. If I annualized it, it is a 12% increment.

 

Should I look at it on an annualized basis or from a monthly point of view?

[Jman888]

in the end it is still $100 increase if your current company already paying you 13 month AWS.

 

Hi all,

 

Need some advice please.

 

I had been made an offer based on 13 months payout vs the norm of 12 months and would like to seek opinion or advise on whether am I on a losing end as the increment is very little monthly.

 

For example, I am currently drawing $2800 on a 12 months basis. The new company is offering me $2900 on a 13 months basis which means the 13th month is a fixed bonus. If I annualized it, it is a 12% increment.

 

Should I look at it on an annualized basis or from a monthly point of view?

 

[Wyfitms]

I think u shld look at the overall picture..

 

1. what is the career progression at this new place

2. is it a step up or a step in the direction that you are aiming for

3. total compensation (must incl expected bonus, benefits, etc)

4. would u enjoy the work at the new place

5. find out how's the culture like or how the colleagues and bosses are like at the new place

 

12% increment at a junior or mid level is within market i think. it's not gonna make u rich so the points i raised above are imo more impt to consider

 

good luck!

[RadX]

I think u shld look at the overall picture..

 

1. what is the career progression at this new place

2. is it a step up or a step in the direction that you are aiming for

3. total compensation (must incl expected bonus, benefits, etc)

4. would u enjoy the work at the new place

5. find out how's the culture like or how the colleagues and bosses are like at the new place

 

12% increment at a junior or mid level is within market i think. it's not gonna make u rich so the points i raised above are imo more impt to consider

 

good luck!

 

 

good advise and also look at the bigger picture. Take a step back and calculate annually the package. Also, training opportunities are impt

[Acemundo]

Hi all,

 

Need some advice please.

 

I had been made an offer based on 13 months payout vs the norm of 12 months and would like to seek opinion or advise on whether am I on a losing end as the increment is very little monthly.

 

For example, I am currently drawing $2800 on a 12 months basis. The new company is offering me $2900 on a 13 months basis which means the 13th month is a fixed bonus. If I annualized it, it is a 12% increment.

 

Should I look at it on an annualized basis or from a monthly point of view?

 

it is still a matter of negotiating power.

 

i gather you asked for more than $2900 but they only offer $2900 because they are telling you it is 12% increase on annual package?

 

well a 12% increase on annual package is considered quite ok but a low salary increment from job switch kind of slow you down in your salary increase over the years. it therefore begs you to think whether salary increment are of high importance to you?

[Nullifi3d]

my companee don't even pay 13 month bonus...

 

Technically not many banks pay 13 mth bonus.

[Wyfitms]

yes.

 

Even if they offer TS $3,100 on 13 mths, which is a big 20% jump for a lateral move, it is still just $300 more pm.

 

That's not gonna improve your life significantly. Career progression is more impt.

[Tualampah]

lemme add on to ur points.. just simply imo

 

I think u shld look at the overall picture..

 

1. what is the career progression at this new place

career progression is depending on few factors i.e ur performance, any of ur immediate supervisors leaving in the next 3 - 5 yrs (note that even of ur immediate boss leave within 6mths to 1 year after u join the company, high chances u will not be considered for a promotion), how layered is the dept, etc...

 

 

2. is it a step up or a step in the direction that you are aiming for

I AGREE! is this what u want i.e the industry, job scope, etc..

 

3. total compensation (must incl expected bonus, benefits, etc)

is the company paying u variable bonus? cos if the aws is fixed then perhaps this is ur bonus of the yr check carefully. any other allowances, travel perks?

 

4. would u enjoy the work at the new place

this is hard to evaluate b4 u start work, unless u have frens in there. truth to be told, the honeymoon period everyone will enjoy. its when crunch time where employees feel that they no longer enjoy due to stress. this statement differs from every person. i personally enjoy stress.

 

5. find out how's the culture like or how the colleagues and bosses are like at the new place

once again hard to find out unless u have frens in there

 

6. do u hate ur current job tat much to justify the marginal increase of $100 per month?

 

7. location of new work place? take into consideration the travel time especially during peak period.

 

8. this is the extended arm of point 4, what do u like about the new role or company? r u jumping ship simply for the sake of jumping?

 

 

 

12% increment at a junior or mid level is within market i think. it's not gonna make u rich so the points i raised above are imo more impt to consider

 

good luck!

 

 

 

[Tualampah]

my companee don't even pay 13 month bonus...

 

Technically not many banks pay 13 mth bonus.

 

 

banks bonus r more than the 13th mth... easily 3-9mths performance bonus.. nothing to complain abt

[Crashburner]

Thanks to all bros for the replies and advices.

 

The role in the new company in terms of scope is not new except that its in a different industry from where I had been for the last 10 years.

 

Secondly, I want to jump ship also partly because of the current company I am in. My team was created and disbanded within 2 years because the new management did no believe in our output and I am now in a role whereby I do not see any progression other than that the new boss is nice.

 

The pull factor for me is more of that I will get out of an industry after more than 10 years without suffering a pay cut. But when I evaluate the offer based on a monthly basis, I just wonder if I am at short end of the stick.

[Tualampah]

Thanks to all bros for the replies and advices.

 

The role in the new company in terms of scope is not new except that its in a different industry from where I had been for the last 10 years.

 

Secondly, I want to jump ship also partly because of the current company I am in. My team was created and disbanded within 2 years because the new management did no believe in our output and I am now in a role whereby I do not see any progression other than that the new boss is nice.

 

The pull factor for me is more of that I will get out of an industry after more than 10 years without suffering a pay cut. But when I evaluate the offer based on a monthly basis, I just wonder if I am at short end of the stick.

 

 

sorry for being blunt i dont mean to offend u or anyone else.

 

given that u have 10 years of experience in a job function, you should be negotiating for much higher salary.

by getting that offer it seems the new employer does not see value in your expertise.

 

for a $100 per moth increment u may get yourself into a worse situation and top it off with having a not so nice boss.

 

i think ur pull factor is wrongly interpreted or ur priorities r jumbled up.

if ur pull factor is having more opportunities in a diff industry iwould support that, and at least u have to define for yourself what in the new industry attracts u?

 

also after 10 years if it is really true ur salary is 2800, i really do feel that there is a problem somewhere and maybe u do holding on to the shorter end of the stick.

 

 

[Acemundo]

yes.

 

Even if they offer TS $3,100 on 13 mths, which is a big 20% jump for a lateral move, it is still just $300 more pm.

 

That's not gonna improve your life significantly. Career progression is more impt.

actually yes and no.

 

for the no part, you would realise that salary, like the ecnomy, does have multiplier effect because all employers like to compare their salary offer to your last drawn pay. if this job you get $300 more, next two jobs likely you can get increment of higher base and it sets the scale for the subequent jobs

 

as for career progression, i have no disagreement but i like to caution against looking at it in isolation and in dogmatic fashion

 

1) how sure are you that this job that offers $100 increase offers you job progression? based on what they say? haven't you seen many cases of interviewers painting too rosy a picture to con hirees in?

 

2) how sure are you that you can't find another job that offers $300 increase and also career progression

 

i am sayign this because as a seasoned veteran i have seen too many cases of hirers painting too rosy a picture and hirees self-duping to tell themselves they sacrifice lower pay for career progression. and i made this same mistake before.

[Crashburner]

No worries bro. The salary figure mentioned is just an example. The increment of $100 on 13 months basis is the exact offer that I had though. I do agree that $100 increment is not worth the risk as u mentioned especially abt getting a nice boss.

 

I'll be negotiating further on the offer.

 

Tks

 

sorry for being blunt i dont mean to offend u or anyone else.

 

given that u have 10 years of experience in a job function, you should be negotiating for much higher salary.

by getting that offer it seems the new employer does not see value in your expertise.

 

for a $100 per moth increment u may get yourself into a worse situation and top it off with having a not so nice boss.

 

i think ur pull factor is wrongly interpreted or ur priorities r jumbled up.

if ur pull factor is having more opportunities in a diff industry iwould support that, and at least u have to define for yourself what in the new industry attracts u?

 

also after 10 years if it is really true ur salary is 2800, i really do feel that there is a problem somewhere and maybe u do holding on to the shorter end of the stick.

 

[Crashburner]

Bro, u r right in ur last paragraph. I had been duped too many times as well...hahaha

 

actually yes and no.

 

for the no part, you would realise that salary, like the ecnomy, does have multiplier effect because all employers like to compare their salary offer to your last drawn pay. if this job you get $300 more, next two jobs likely you can get increment of higher base and it sets the scale for the subequent jobs

 

as for career progression, i have no disagreement but i like to caution against looking at it in isolation and in dogmatic fashion

 

1) how sure are you that this job that offers $100 increase offers you job progression? based on what they say? haven't you seen many cases of interviewers painting too rosy a picture to con hirees in?

 

2) how sure are you that you can't find another job that offers $300 increase and also career progression

 

i am sayign this because as a seasoned veteran i have seen too many cases of hirers painting too rosy a picture and hirees self-duping to tell themselves they sacrifice lower pay for career progression. and i made this same mistake before.

 

[Macrosszero]

I know you stated "for example" but if you have 10 years' experience, a sub-3k salary suggests your job is probably a rather small role, given your intended next job is in the same ballpark.

[Wt_know]

although company says 99% AWS is paid ... but by law i think company can drop AWS if business no good

i suggest stick with 12 months as basic salary

but again, depends on industry and package ... some got lower basic compare to other company/competitor but comes with 5-6 months bonus although not cast and stone

 

Hi all,

 

Need some advice please.

 

I had been made an offer based on 13 months payout vs the norm of 12 months and would like to seek opinion or advise on whether am I on a losing end as the increment is very little monthly.

 

For example, I am currently drawing $2800 on a 12 months basis. The new company is offering me $2900 on a 13 months basis which means the 13th month is a fixed bonus. If I annualized it, it is a 12% increment.

 

Should I look at it on an annualized basis or from a monthly point of view?

Edited March 12, 2013 by Wt_know

[Acemundo]

Bro, u r right in ur last paragraph. I had been duped too many times as well...hahaha

i know...that's why i tried to share the experience i have gained over the years. it will be useful for rookies like you.

[Sofarsogood]

One good thing about 12 months is that you can leave anytime mostly. The 13th month salary payout will be guaranteed only when you stay beyond the financial year mostly (I think). So you have to factor this into the decision too.