Tuesday, April 04, 2006
Mission Possible
Well, after almost two years, I'm finally employed full-time again. I've decided to accept an offer from LAF to do business valuations. I won't bore you with the details, but basically I try to determine what the "true" value of a company is. Some of my work will be actuarial in nature and there's even a slight chance that I'll go back to being an actuary.
So, I'd like to thank my Negotiations professor. We had a whole class about salary negotiations. When LAF made their first offer, it was about $10,000 less than I had hoped. They did, however, say that I'd be able to get a promotion after a year. So I told LAF I'd think about it. (That's rule #1 of negotiating a salary. Never, ever commit on the spot. Tell them you'll think about it and call them back later, preferably the next day.)
I called back a few days later (after I had a chance to review the letter they sent) and asked some questions about this "promotion." Certainly, it's not guaranteed, but there's a good chance I'll get it. And it could mean a salary increase of about 15%. And then I'd be eligible for a bonus of about 20%. Of course, this all assumes that I rock at LAF. Which I will.
Anyway, I mentioned that I'm concerned about the money, but that I loved the job and the company. I explained how my Excel expertise (and all the programs I've written that I'm bringing with) is worth more than they're offering. Then I told them that I have a few interviews in the works, so I might need to delay my decision. (In truth, I have no other interviews, or even prospects for interviews.) LAF asked what I wanted. I said that for an extra $5,000, I'd be able to forgo the other interviews and accept immediately. Otherwise I'd need 1-2 weeks to decide. LAF said they'd get back to me.
So, LAF called me today and said they agreed to come up to my level. Suckers. So now I'm going to accept. I told LAF that I'd call tomorrow to give my final answer, but it'll be a yes. I just have to let it sink in.
I'm pretty excited about this job, even if I'll be working with Rick. LAF is a great company to work for. There's a lot of damage I can do there. They're in the Loop, which I'm not thrilled about because my commute will be about an hour each way via train. But I can sleep on the train or study for my upcoming CFA exams. And the best part? No more classes for me. And now The Wife and I can worry about her job and when she's going to quit. That's a much happier decision to have to make.
So, I'd like to thank my Negotiations professor. We had a whole class about salary negotiations. When LAF made their first offer, it was about $10,000 less than I had hoped. They did, however, say that I'd be able to get a promotion after a year. So I told LAF I'd think about it. (That's rule #1 of negotiating a salary. Never, ever commit on the spot. Tell them you'll think about it and call them back later, preferably the next day.)
I called back a few days later (after I had a chance to review the letter they sent) and asked some questions about this "promotion." Certainly, it's not guaranteed, but there's a good chance I'll get it. And it could mean a salary increase of about 15%. And then I'd be eligible for a bonus of about 20%. Of course, this all assumes that I rock at LAF. Which I will.
Anyway, I mentioned that I'm concerned about the money, but that I loved the job and the company. I explained how my Excel expertise (and all the programs I've written that I'm bringing with) is worth more than they're offering. Then I told them that I have a few interviews in the works, so I might need to delay my decision. (In truth, I have no other interviews, or even prospects for interviews.) LAF asked what I wanted. I said that for an extra $5,000, I'd be able to forgo the other interviews and accept immediately. Otherwise I'd need 1-2 weeks to decide. LAF said they'd get back to me.
So, LAF called me today and said they agreed to come up to my level. Suckers. So now I'm going to accept. I told LAF that I'd call tomorrow to give my final answer, but it'll be a yes. I just have to let it sink in.
I'm pretty excited about this job, even if I'll be working with Rick. LAF is a great company to work for. There's a lot of damage I can do there. They're in the Loop, which I'm not thrilled about because my commute will be about an hour each way via train. But I can sleep on the train or study for my upcoming CFA exams. And the best part? No more classes for me. And now The Wife and I can worry about her job and when she's going to quit. That's a much happier decision to have to make.
