Leaving a job after an equity event/payout?
December 5, 2011 5:18 PM Subscribe
I need help/thoughts on deciding whether to stay or walk after a small equity payout.
posted by anonymous to Work & Money (8 answers total) 1 user marked this as a favorite
I work for an Internet company (in business capacity, not technical) that is in the process of changing hands. I have a small equity stake and will net out with just a hair over six figures, which should land in my bank account in about two weeks. I have another ~$30k liquid in the bank.
In addition to being burnt out at this company, and to a lesser degree the industry, I am in a really bad situation with a new boss who doesn't seem to like me AND seems clueless for working with remote employees (which, technically we both are, but we're in different cites). I think if he had the power at this point he might have already let me go, but considering that he's new to the parent company I think he's kind of in the "probationary period" with that sort of thing. I'm not a big fan of his either, but I've been trying to make the best of a bad situation and not making a lot of headway.
I would really like to take this money and leave the job, taking just a couple of months off to decompress but also take the time to start working on something of my own OR to make a career change. But I'm scared of failure, of course. There is a greater than zero chance that I'll be let go in the spring any way due to restructuring. If that happens it's very possible I could walk away with a nice severance package. If it doesn't happen I'll have missed some significant opportunities in the industry (which given the burn out might not be the worst thing).
If I walk soon after getting this payout I could start looking for a position elsewhere and have a decent shot of landing something interesting/challenging which may or may not make me relocate. My preference is to work where I am as I own a lovely home that I'm loathe to leave. I've put feelers out and a few people seem interested, but my job and the tight knit industry make it challenging for me to full-out look/apply for jobs while I'm employed by my current company due to NDA/contracts.
I could really use some words of wisdom, thoughts on various scenarios or warnings if you have them. Is walking without having something set up the worst idea EVER? Is starting a business of my own in this economy a nutso proposition?
Further data points: I'm female, early 40s, make about $145k but need considerably less to meet my expenses/lifestyle minimums (I'm prone to be a bit lavish at present, but know how to tighten a belt), I live in the middle of the country, will pay off car loan which will leave me with zero debt beyond the home loan. If I was responsible (but not crazy frugal) with the funds from this event they would last me over two years without a problem if I couldn't find work or start up my own something.