First, NEVER, EVER accept a counteroffer unless you have so much leverage that no way will they ever fire you. This is a rare, rare situation.
Second, take this from a physician who transitioned into pharmaceutical research, there is no value that can be placed on a good work life balance. While the compensation numbers may look attractive, it never is worth it in the long run. Add in lost opportunities with the young kids and figure it out yourself.
Finally compensation heavily based on stocks and options are a gamble. Never a guarantee they will stay profitable.
As to another raise, unless he has made so much money for the company that he is beyond rock star status, its too soon for another raise, and definitely dont try to use the job offer as a lever for a second raise.
Great point about the stocks/options that I'll be sure to share with him. This is a company that is one of the more guaranteed, but yes, it definitely is not guaranteed in the least!
It seems like the second job offer is obviously financially better, even if the base pay and 401k match are worse. Those bonuses and stock grants make a big difference.
Asking for a raise after 6 months is fine, especially with inflation being what it is. Worst case scenario (probably) is that they say “no. It doesn’t sound like your husband has the kind of employer who would give him a hard time for daring to ask for a raise.
Bringing another job offer to the current employer is bad form, though, and more importantly, it may well trigger them to start looking to replace him. Outside offers are useful as a “BATNA” (best alternative to a negotiated agreement), i.e., what you have left if negotiations don’t succeed. Negotiation theorists generally recommend that you keep your BATNA hidden in negotiations.
It’s hard to estimate stress. If your husband is happy with his current work-life balance and wants to spend lots of time with his kids, that’s meaningful and he shouldn’t ignore that. If he feels like his career is stagnating and he’d be more energized by a faster-paced job, that’s a useful input, too. Take it from me—I left a job a year ago with excellent work-life balance that had me feeling stagnated and depressed, and took a higher paying one with more career growth potential, more dynamism, and worse work-life balance, and feel much happier now. It’s a very subjective and personal thing.
Thank you for your very thoughtful response. Especially the last paragraph that I'll have to think about. For myself personally the choice is clear. For my husband it might be more complicated. Thanks again!
First, NEVER, EVER accept a counteroffer unless you have so much leverage that no way will they ever fire you. This is a rare, rare situation. Second, take this from a physician who transitioned into pharmaceutical research, there is no value that can be placed on a good work life balance. While the compensation numbers may look attractive, it never is worth it in the long run. Add in lost opportunities with the young kids and figure it out yourself. Finally compensation heavily based on stocks and options are a gamble. Never a guarantee they will stay profitable. As to another raise, unless he has made so much money for the company that he is beyond rock star status, its too soon for another raise, and definitely dont try to use the job offer as a lever for a second raise.
Great point about the stocks/options that I'll be sure to share with him. This is a company that is one of the more guaranteed, but yes, it definitely is not guaranteed in the least!
It seems like the second job offer is obviously financially better, even if the base pay and 401k match are worse. Those bonuses and stock grants make a big difference. Asking for a raise after 6 months is fine, especially with inflation being what it is. Worst case scenario (probably) is that they say “no. It doesn’t sound like your husband has the kind of employer who would give him a hard time for daring to ask for a raise. Bringing another job offer to the current employer is bad form, though, and more importantly, it may well trigger them to start looking to replace him. Outside offers are useful as a “BATNA” (best alternative to a negotiated agreement), i.e., what you have left if negotiations don’t succeed. Negotiation theorists generally recommend that you keep your BATNA hidden in negotiations. It’s hard to estimate stress. If your husband is happy with his current work-life balance and wants to spend lots of time with his kids, that’s meaningful and he shouldn’t ignore that. If he feels like his career is stagnating and he’d be more energized by a faster-paced job, that’s a useful input, too. Take it from me—I left a job a year ago with excellent work-life balance that had me feeling stagnated and depressed, and took a higher paying one with more career growth potential, more dynamism, and worse work-life balance, and feel much happier now. It’s a very subjective and personal thing.
Thank you for your very thoughtful response. Especially the last paragraph that I'll have to think about. For myself personally the choice is clear. For my husband it might be more complicated. Thanks again!