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Lateral Move

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  • Lateral Move

    Current role: clinical research coordinator making around $65k at a stand-alone children's hospital affiliated with a large university in a large California metro area. I signed a retention bonus for $10k last April, which if I left would be prorated by the number of months I didn't satisfy (i.e. I'd pay some back if I left early, but they gave the full $10k net up front). Job currently has medical with HSA, dental, vision that I contribute to the costs to, plus a 75% subsidized Metro pass. Not really a path for me forward promotion-wise to jack up my salary and savings. Edit: includes 401(k)/403(b) as part of the benefits package; contributing 10% to Roth 401(k), 10% to 401(k), 3% to Roth 403(b), 3% to 403(b).

    Offer: a local recruiter reached out to me and I just landed a clinical research coordinator role at a just-public company. Salary would be $115k, bonus of 7% annually (60% based on personal performance and 40% based on corporate performance). Equity grant of $25k (stock trading ca. $6.50 per share), 25% vesting on the first anniversary, then quarterly thereafter. All benefits (health with HSA, dental, vision, et cetera) are fully paid for by the company. 401(k) through Voya, I think, with a 2% company match. Also includes 10 days of PTO front-loaded annually on anniversary date that rolls over year-to-year, a corporate shutdown for two weeks at year-end, and 80 hours of annual sick leave that does not accrue (use it or lose it). Looks like there is a definite path forward to jack up my salary and savings. Job would start January 4th, or some other negotiable time. I could max my retirement/HSA accounts, and be able to stockpile money for education int he future with this job. Edit: I have not negotiated the offer yet, this was the preliminary offer that came today and expires next Monday, 11/29.

    Nothing else would change: I'd still live at home, just stockpiling money.

    Yes, the financials scream "take this and leave the hospital behind!". That said, I have an amazing attending I work under, and we just started a new study for which we were the first site to randomize a subject internationally and are the only site with an active subject. The other issue is that the nurse I worked with is still at the hospital, but took a lead position and is no longer running studies with me. So if I leave, my attending has no one.

    I need the wisdom of this crowd of people who know more than I do about life, and how to navigate this.
    Last edited by F0017S0; 11-25-2021, 02:40 PM.

  • #2
    If your attending got an offer for twice as much money do you think he/she would hesitate to leave you behind? I think you’re crazy to not switch roles. It sounds like even if your current job matched this salary (which they probably won’t), there’s less potential anyway.

    Easy decision.


    • #3
      I would definitely take door number 2.


      • #4
        Absolutely take the new job. It's nice you care about your boss and job but not worth 50k+. They will find someone to replace you, I promise.


        • #5
          Odd timing to give someone an offer that expires in a week.

          It is commendable that you worry about your attending. I would hope that the new job would value that loyalty and give you more than a month to spin-up your replacement.

          I was going to make a warning about start-ups, but I see that it is a public company...that makes it much safer....


          • #6
            Originally posted by G View Post
            Odd timing to give someone an offer that expires in a week.)
            A week might be a bit short, but I don’t think unreasonable. They just want an answer and probably expect a counter offer.

            To the OP, it is a good labor market. Take the job, and give your employer fair notice. See if they match. What would you stay for? $30k raise, $40k?


            • #7
              Originally posted by Larry Ragman View Post

              A week might be a bit short, but I don’t think unreasonable. They just want an answer and probably expect a counter offer.
              Outside of the hospital, it seems that thanksgiving *week* is a thing.


              • #8
                Take the new job! With no ability to advance the children’s hospital is a dead end job. Fine if you want to stay w nearly the same salary, etc for your career. But it begs to say if you were truly very happy would you have even spoken to a recruiter or interviewed for this job?

                Take the money, keep a nice relationship w current boss in case new company culture sucks. Congrats!


                • #9
                  New job and it's really not even close.


                  • #10
                    Wise words from one of my mentors (ok, not really): Would I ever leave this company? Look, I'm all about loyalty. In fact, I feel like part of what I'm being paid for here is my loyalty. But if there were somewhere else that valued loyalty more highly, I'm going wherever they value loyalty the most.

                    - Dwight Schrute


                    • #11
                      Negotiate the start date to be the last week of December (12/27/21 to be exact).
                      There might be a lot of red tape like health insurance, options or reviews or retirement plans that can only be achieved being an employee on January 1.

                      They may resist due To on-boarding during the holiday week. Fine, admin red tape, first week vacation?
                      In a company they try to grow and try to hire within.
                      From afar, skill sets it seems like they are paying you for the “next” job and would be depending on you to build it and backfill with the growth. Be prepared to work your tail off and figure out things on your own. Good people are precious in a new company. Research coordinator is the job title. Do that job but realize that your skills are transferable for additional growth.
                      The deadline probably reflects how they need and want decisions made. If there was a valid reason, they would consider.
                      What you don’t want to do is to cause extra work. Any start date in December works.
                      Good luck in the new job. Your attending can’t open the doors in the Children’s Hospital. Just the way it is.


                      • #12
                        I think a better question would be to ask if there is any reason to stay at the current position (other than the attending you work with)


                        • #13
                          New job or at least talk with your current one about increasing your pay to be more competitive.


                          • #14
                            First, all of the advice is very much appreciated. Certainly I have a lot to think about and not a lot of time to do it. I will be talking to the independent recruiter who brought me this unsolicited opportunity later today; s/he has placed many people at the Master’s and PhD level at this company and knows it quite well, so I want to leverage that knowledge before getting back to the company. I intend to figure out what terms in the offer are non-negotiable and counter on the negotiable terms. A regret from my current role is that I was “anxious” to get out of my previous role and I accepted the offer right off. That offer was for $49k, with CoLA the following year. After COVID, the hospital did a market rate adjustment up to $65k plus the $10k retention bonus (I would have to sacrifice ca. 25% of that, but it’s pocket change in the scheme of this offer).

                            Equity aside, I highly doubt my current employer would be willing to (let alone be able to) match just the salary, which is the most my current employer could do. I am leaning towards asking my current boss (3rd boss in about three years), but I am not holding out much to any hope about that.


                            • #15
                              I would take the new job. It sounds too good to be true.