So I’ve decided to leave. This time after 864 days. Far from the 1818 days before. I don’t think length of time had anything to do with this, more of an outcome.
There were 5 interviews over 1 month, and the offer came 1 month after.
It was a difficult decision between F and T, so I’m recording my decision matrix for my future self to look back on.
Compensation: Almost equivalent. just adding ~3.44% that one can attribute as the EOY raise that I will be missing. Bonus at same level, supposedly 15%. There is a sign-on bonus but.. that is also just effectively the 15% that I would have gotten.
Shares: Options ~USD 9.50, Target IPO at USD 20 vs 30k worth of shares per year.
Benefits:
- None vs Daily meal credit of $18 per work day
- Phone allowance $70 vs $50 per month or as per usage depending on work nature
- Annual Leave: 20 days vs 18 days
- None vs fully sponsored gym membership
And in terms of outlook, I think by the time 2025 comes, there is more to say having been at T for 1–2 years, than having been at F for 4 years.
Decision is difficult because I am recognised at F and they are promising things for me but I don’t really see how that will work out for me. They want me to be a Principal, but I will hardly have any overlap with either HQs, and I do foresee that I will only continue to and be used to mainly cover complex projects, not something I am not already doing.
Taxes.. the bane of everybody. YOA2023 outputs an effective IIT rate of 7%. I estimate YOA2024 to be at 7.67%. So the effective rise in income less taxes is at 15%.
They are also kinda stingy about it, because 01/SEP was made a public holiday, the start date is 04/SEP, making me lose a few days of pay. Annoying but goes to show how generous they are(n’t)!
