Medium sized startup, getting salary increases beyond what I think is reasonable

Doshwaster

getmore4less wrote: »

In the technical IT sector there is one major player that goes round mopping up start ups once established(5-15 a year), people know this and create the sort of companies they want, one person I know is on their 3rd start up/take over and doing very nicely from it.

They also have rounds of job losses on a regular basis not all hit the news because they use generous settlement agreements and people move on.

Yes, start-ups can be a very lucrative way of making money if you have the right mindset. Take some investment money, build up a business from nothing, sell it on to one of the big boys, take the shares gain and repeat the process.

It happens a lot in the biotech sector too. Senior people get made redundant from Big Pharma on generous packages so use that money and some venture capital to startup their own biotech in the hope of selling the business back to Big Pharma in a few years time. Drive around the science parks of Oxford and Cambridge and you will see dozens of companies called Bio-something which wont exist in a few years time.

JayRitchie

Its not unusual for very entrepreneurial companies which may be up for sale to offer high enough salaries that people don't leave. It can be worth negotiating your notice period if you think your job might be at risk - ask for say 3 months notice if you are one month as that gets you some financial protection.

The salary reflects the risk - I'd take it happily but make sure I have savings.

aife

Deleted%20User wrote: »

People get lied to all the time in employment matters.

In December I was told my FTC was a shoe-in for better opportunities - in reality I've seen jobs I could apply to within the organisation as just as short than my current role - alongside watching the jobs going external. I would never be able to apply anyhow as I work solely on my own - again something they neglected to mention until it was to late.

If you want a serious reply (if you had a posting history they would love to chuck that back at you if you haven't the right name, so you got off lightly may I say) then see a solicitor that specialises in employment law.

what's FTC ?
I tried googling it but all that comes up is 'Federal Trade Commission' and '!!!! the chicken'

greenbee

JayRitchie wrote: »

Its not unusual for very entrepreneurial companies which may be up for sale to offer high enough salaries that people don't leave. It can be worth negotiating your notice period if you think your job might be at risk - ask for say 3 months notice if you are one month as that gets you some financial protection.

The salary reflects the risk - I'd take it happily but make sure I have savings.

I'd say this is the most likely answer. If it's a technology start-up then there's a skills shortage and a lot of movement at the moment (including in sales). It may be that your management think you are at risk of being poached, so are trying to make it expensive to tempt you away!

I know I can earn a lot more in small start-ups than in large established businesses - and I can also add most value there as well, so the discrepancy in the potential earnings isn't totally random.

anamenottaken

aife wrote: »

what's FTC ?
I tried googling it but all that comes up is 'Federal Trade Commission' and '!!!! the chicken'

Fixed Term Contract