I've seen folks around here saying they wouldn't leave any job for less than X% increase in pay, and I was curious what the general consensus on that percentage is.

I'm considering a position that would offer me an 8% increase, plus benefits (I currently have very few benefits). On one hand, it seems like an obvious choice. More money is more money. But I'm not sure if there's room for negotiation, or if I should wait for other (better?) offers elsewhere.

I think it depends on how much you make.

For example, if I make $40,000/year, I'm not leaving for less than a 30% increase.

However, if I make $100,000/year, I might leave for a 10-15% increase.

8% doesn't seem like all that much if you like your current job and work environment. I'd weigh 1.) how long I've been at current position 2.) what the actual monetary difference of benefits is 3.) talk with some of the current employees about the atmosphere of new prospective job.

That's what I would do. Personally, I wouldn't leave for 8%, but then, I make less than a teacher, so you get my point.

There are too many factors involved for anyone to just say x% to leave a job.

If I felt long-term career potential was better or if I had no benefits... I would leave for equal pay or even less.

Assuming all things held equal... it would still take ~15% for me to leave.

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There are too many factors involved for anyone to just say x% to leave a job.

If I felt long-term career potential was better or if I had no benefits... I would leave for equal pay or even less.

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This.

I would (and have) take the right opportunity for a 50% pay cut and be excited as hell about it.

I would (and have) also pass on the wrong opportunity for a 50% raise.

Your paycheck is just one of what should be several factors determining your overall compensation package.

Pay
Benefits (health coverage, costs, etc.)
401k, ESOP, pension, simple IRA, etc. (retirement)
Ability to grow and advance
Vacation packages
Bonus structure
Location
Travel/work environments
Working hours/flexibility
Corporate culture
People you work with/for/around

Those are just the things that all combine to a true compensation that I can think of off the top of my head.

At one of my old companies, they generally paid on the lower end of the competitive scale. But the other aspects were pretty good (awesome ESOP and bonus, insurance was hella cheap, etc.). Seemed like once a month I'd have somebody come in and tell me that they were leaving for X company across town because they were paying a little more per hour. Probably 85% of the time after I asked just a few questions about things other than pay, the guy sitting across from me realized that just because the $ per hour was better, it was not necessarily a raise.

Something to think about.

I have always said 20% total benefits.

There are many exceptions to the rule.

There are many factors..... but you are leaving the known for the unknown and 8% seems small unless you are extremely unhappy at the known.

A move can easily cost you 20k... that would be additional.


[This message has been edited by BBDP (edited 5/7/2013 7:56a).]

What if it's no move, less of a commute, zero percent travel (Down from 50%), and work from home? It's very appealing to me...

Only you can answer this question. What's 8% worth to you? It's different for every person.

0%

I want out now...

I love my new company, so here probably 50% or more

My job right now is an OK one. I love the people I work for, I've been here for 7 years, but I've hit the ceiling as far as positions/money goes. What I'm making right now is subsistence, and I'm living paycheck to paycheck for the most part. The thing is, I want financial stability bad enough to leave the 'good thing' I have for the unknown. It's scary, but I just think I'm in a position where it's the only move I can make besides treading water.

The 8% is just a guess on my potential pay, by the way...the organization hasn't come back with a solid number yet, just that they can beat my current salary, plus offer benefits and the work-from-home option. Plus this new organization has potentials for moving up that I don't have now.

On the one hand, it's a no-brainer. More money, more options, benefits, etc. But then there's the 'unknown' factor...is the job going to be awful? Are the people awful?

Where's a good psychic when you need one?

i'd take a pretty large pay cut (at least initially), but i work a lot of overtime. i also have aspirations to move back to texas one day, so that overcomes a lot of income.

8% on its own doesn't seem like enough to prompt a move, but I would move for essentially the same salary if the job was better/more interesting. Actually, when I came to my current job the salary was something like 3% higher, but the job was far, far better. Oh, an bonu$.

The 20% number could include the cost savings in commute, less hours at work (calculate your hourly wage and figure out the benefit), better insurance, more vacation, better 401k matching... almost anything you can equate to $.

The 20% is for the total benefit package.

Depends why you are considering a change in the first place. I'm actually seriously considering leaving my job for a significant pay cut but that would give better work/life balance and better opportunity to expand my skillset. I see it as a short-term financial hit but with better long-term potential than my current job.

Are there other options worth considering beyond your current job and the offer in front of you now? If those are the best options, what would you advise your best friend to do if s/he were in this position?

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Your paycheck is just one of what should be several factors determining your overall compensation package.

Pay
Benefits (health coverage, costs, etc.)
401k, ESOP, pension, simple IRA, etc. (retirement)
Ability to grow and advance
Vacation packages
Bonus structure
Location
Travel/work environments
Working hours/flexibility
Corporate culture
People you work with/for/around

Those are just the things that all combine to a true compensation that I can think of off the top of my head.

At one of my old companies, they generally paid on the lower end of the competitive scale. But the other aspects were pretty good (awesome ESOP and bonus, insurance was hella cheap, etc.). Seemed like once a month I'd have somebody come in and tell me that they were leaving for X company across town because they were paying a little more per hour. Probably 85% of the time after I asked just a few questions about things other than pay, the guy sitting across from me realized that just because the $ per hour was better, it was not necessarily a raise.

Something to think about.

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Ding ding ding.

It depends. There is more to any job than pay especially intangibles like: Do you like the people you work with? How is your work/life balance?

As a rule of thumb I think about how much salary it would take for me to leave and I tell the recruiter/head hunter that I need 1.5 times that amount.

So, if I make 100k and I tell myself that I'd leave for 125k, I tell the head-hunter that for me to leave it would have to be at least 137.5k. It's worked every time.

I would need atleast a 20% pay increase for me to leave.

Probably 20% right now.

1 dollar and a shorter commute

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What if it's no move, less of a commute, zero percent travel (Down from 50%), and work from home? It's very appealing to me...

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Sounds like an easy choice to me...

As long as you think you will like it, and there are long term career growth opportunities.

Agree with ZooGuy and others to the extent that it depends on many factors. Benefits in my industry are pretty much standardardized, so for me, it would take an all-in 30% (base + bonus combined) increase to entertain a move. Anything else just gets eaten by taxes so I'd hardly feel it.

Benefits are a pretty significant portion of your overall compensation. You said you're currently not getting many benefits. 8% plus better benefits could actually make that a very significant overall compensation increase.

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What I'm making right now is subsistence, and I'm living paycheck to paycheck for the most part. The thing is, I want financial stability bad enough to leave the 'good thing' I have for the unknown.

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What if it's no move, less of a commute, zero percent travel (Down from 50%), and work from home? It's very appealing to me...

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Are you getting reimbursed for travel expenses in your current position? If you are, your current employer is paying for 1/3 of your meals, is your 8% raise going to cover the additional cost of food for those 2.5 days a week? If you are really in it for financial stability, why are you moving to the "unknown" rather than changing your current habits if possible?

Scooley, I thought I was reading a post written by myself. Got halfway through the thread when I realized it was you. I'm right there with you man...only I don't have a half-a$$ offer from anyone. Keep me and the wife informed of your progress on this.

I would leave for an 80% increase and similar work environment: fixed location, regular hours, interesting work, good future career potential.

I would leave for 50% more for similar work environment and no need to relocate.