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Head hunted for new start up not sure what to ask for

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Comments

  • minority
    minority Posts: 172 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    By a startup I mean they have been in existence for a year or so already and have a few big clients already. This is it service sector so would be good dev solutions where as just now I can count on one hand the amount of interesting things I have dev in 3 years with them.

    Hmm it just tempting as if you are a programmer you will know it the brain cruncher eureka moments that keep you going through the boring stuff.

    But I seem to be doing a lot of boring stuff at mo.
  • minority
    minority Posts: 172 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    One last thing my pension since I need to open it without a company one how,much would I need to put away?
    It says on here 1/2 ur age so is that 14% or would I also take into account I paid into uni uss one since I was 25? Ad 12% make take home far better than 14.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    I think you have to think career and where you want to be.

    In your current job do your get your holiday and work your normal hours

    any travel

    is the pension defined benifit or contibution.

    How/why were you head hunted?

    Expect the new job to be a very different situation on hours holidays and weekends.

    As a head hunt they are having a laugh with the opening offer.

    Ask for a golden hello and a redundancy package.

    The golden days of startups where you made millions have gone.

    It used to be you get 3 goes to do startups if you don't make it with one of them get a job so you have a pension.

    Money career holiday/time off

    I think total time off might be the issue
  • minority
    minority Posts: 172 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    My current pension is obviously final salary pension so is best you can get...my new one I have not really thought about but this site says I need to divide my age to get the amount I need to pay in.

    But I have paid in to my current one since I was 24/25 so do I do it against 12% a year.

    I am going to see the place tomo and basically say my break even for being worth it is 41000 and I need more on top for loss of holidays, risk etc as its alot of risk to take.

    The person who owns the company knows me from Uni and via LinkedIn saw my skill set and contacted me.
  • ILW
    ILW Posts: 18,333 Forumite
    edited 7 November 2011 at 7:50PM
    It is not for you, you are more worried about your pension than the possible upside and a relatively new company os no place for that type of thinking.

    Around 75% of new companies fail in their first 3 or 4 years.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Defined benifit pension is worth loads.

    Someone I know that TUPE from public sector say they need to budget 30% for the pension
  • Acc72
    Acc72 Posts: 1,528 Forumite
    Taking into consideration :

    - Less job security
    - Current economic climate
    - Much less holidays
    - New family
    - Loss of flexible benefits (eg. flexi time)
    - Loss of excellent pension
    - Possible risk averse nature

    In your shoes, although it is flattering, I would want at least £60k to even consider it.
  • Irrespective of 'what is fair to ask for' - they are offering under 3k to 'lure' you away from a job with a better package. Always look at 'the package' - not the salary.

    I think £40 - £42K would be a realistic salary to ask for in your situation
  • jfh7gwa
    jfh7gwa Posts: 450 Forumite
    Acc72 wrote: »
    In your shoes, although it is flattering, I would want at least £60k to even consider it.

    Exactly my thoughts, to be honest.
  • Mistral001
    Mistral001 Posts: 5,445 Forumite
    Part of the Furniture 1,000 Posts Name Dropper I've been Money Tipped!
    Acc72 wrote: »
    Taking into consideration :

    - Less job security
    - Current economic climate
    - Much less holidays
    - New family
    - Loss of flexible benefits (eg. flexi time)
    - Loss of excellent pension
    - Possible risk averse nature

    In your shoes, although it is flattering, I would want at least £60k to even consider it.

    Yes it is flattering to be head-hunted and many employers play on that. Unless you are going for a substantial pay rise or promotion, be very very cautious.

    Also, many employers see head-hunting as sharp practice and will take it very badly if one of their employees colludes in such practices. A lot of people boast of being head-hunted, but in reality they are only the ones who have been siucessful with it. It is not always sucessful.
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