Would you accept a job offer in this economy?

Question

They have assured me they are not facing layoffs, in fact they've been opening up recs since October.They are in an industry that is somewhat recession proof, people and companies can not function without buying their product.The base pay is less, but the promise of espp and stock grants would potentially double my take-home.I'm still hesitant, obviously. My current employer is also pretty recession proof and has never had lay offs. If the pay and prestige were the same I'd stay here.

bombcar · Accepted Answer

It's ALWAYS a risk/reward scenario.Let's consider worst-case scenario, you move to the new job, the entire economy goes tits up tomorrow, the company folds.Would your old company consider rehiring you? Is what you do a relatively recession-proof job? Do you have savings?Doubling take-home could be some serious coin after not long, so it probably is worth it.I'd investigate the ESPP and grants and find out what you can, and perhaps assume that they're going to disappear or be reduced in the future (if the company is old enough, see what they did in the 2000s and the 08s).

revskill · Answer

Consider "recession" as the best time to go "LONG", then you'll be fine.

sp332 · Answer

Would I take a job offer? Yeah, if the compnay has a reasonable plan for growth. Would I take an offer over my current position? Probably not.

Mountain_Skies · Answer

Can you afford to be wrong? If yes, it becomes mostly a question of your estimated odds of the new employer being wrong about not doing layoffs versus how much better off you will be if they are correct. If you don't have enough resources to handle being unemployed in the coming economy, then it's probably not worth the risk.

rdtwo · Answer

Depends on how long you plan to stay. If your compensation is in stock in a down moving market that might not be a winning strategy.Really try to understand how much debt your company has. Anyone not making money with high burn is going to be in serious trouble with current interest rates especially when loans expire/roll over

jollyllama · Answer

I like where your head is at. If you've been at the current job long enough, and both companies have solid financials, why not? See if you can find both companies balance sheets publicly and compare how much debt they have, maybe you can even see if it's in adjustable rate loans.

mikkergp · Answer

Is staying be inherently safer than moving?

yuppie_scum · Answer

Yes, worst case scenario you get a severance (free money)