Q & A Table of Contents
I Asked For A Lower Salary So They'd Pay Me More Up-front
From: Ann, Annandale, Virginia
Question: I have been given an offer by a company I really would like to work for. Initially I have been offered 115K to start (I originally asked for this lesser amount providing they would give me a 20K signing bonus) They came back with an offer to include the 115K salary, however they stated they would give me a 5k signing bonus paid in two increments over the next year and let me take a 15K loan from the company at the prime interest rate (which is about 5%)
The whole purpose in telling them I would take the lesser salary of 115K was to get them to give me the 20K signing bonus up front, no questions asked. (I need it to pay on some student loans). I however, have not revealed this to them. I can't see taking a loan to pay back another loan!
They stated there are legal issues in giving me a bonus that big (payroll issues). I know that money is not an issue. Are legal issues really a stopping point? I work in the Information Technology (Information Assurance) field as a subject matter expert. In this metro area my resume and experience is worth at least 145-165K. As a female, I can't help feel that I am getting slighted. Do you have any advice for me?
Response: It sounds as if you have gotten yourself into a pickle because you tried to maneuver your anticipated new employer into undertaking something that serves your interest but may be against theirs. I have no idea whether there is any validity to their claim that legal issues are a bar to a higher signing up bonus. Moreover, unless you have information about differentials relating to women's pay and other compensation in their organization, your concern about being discriminated against because of your gender may not be accurate.
Frankly, when folks use the expression, "It's not the money, it's the principle of the thing," I always get the feeling that money is the principal thing.
If the company will lend you the money at no interest or at least substantially below market interest rates, then the loan may be an attractive approach. Exchanging a low interest loan for an existing higher interest loan means you can probably save a significant amount of money.
Perhaps you can borrow the money from the company -- with an understanding they will forgive your indebtedness after a certain period or after you have accomplished specific objectives. Give them a way to save face in the process while you pursue the achievement of your own interests.
Good luck with this,
Steve
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