is my old boss giving me a bad deal?
October 27, 2012 5:59 AM Subscribe
I was terminated three months ago and have recently been offered to take over my old division as a new company. Details inside.
posted by anonymous to Work & Money (22 answers total)
I was terminated from my company about three months ago but I am still (maybe?) great friends with the owner. I am a professional in a highly specialized area of technology and am under a non-compete for 9 more months. Needless to say, its been very difficult to find a job in which I specialize in. She also has not provided me my final check which I understand why because the company was always struggling financially. Still, I am upset by this immensely.
She has since offered to me in several emails the division I was the lead in because, hey, we were good friends and I can't get a job in what I am good at anytime soon. What would happen is that my former division would split off into another company and that I would be the new owner of that division.
My skills involved directly handling projects from our clients, bringing in between 650 to 50,000 dollars per project. She has offered me a Lehman formula based system of compensation, which after my review appears to be insulting. The percentages she proposed work heavily in her favor; the more I bring in, the higher the percentage she gets. For example, on the low end of the scale she wants 60/40 her way on everything below 10k and on the high end of th scale, she wants 80/20 her way if the project exceeds 100k. Her reasoning is that she is providing the equipment, referrals, insurance and office space. These are specialized tools that were expensive but have certainly depreciated in value since I was there.
Is it common to use the Lehman formula in situations like this? On a personal end, I am the caretaker of several family members and have a mortgage to pay, funds are dwindling fast and have even interviewed for several jobs but was turned down because I appear to be over qualified.
I am meeting with her again to discuss this and would like to know if her offer is really fair or is she really taking advantage of my situation.
Please let me know if there's anything I may add that may help understand this question better.