Like most people in banking in China I am no longer excited about my job. But because I am not in a junior position, I need a strong reason to leave my firm, so I have only gone for a couple of interviews since contacting headhunters after the bonus season. I don’t want to change just for the sake of changing.
However, without expecting it, I was recently offered a role by a small Asian bank. The main difference between my existing job and this new one is compensation. I always knew my company was not the most generous bank on the street, but I didn’t expect such a huge gap.
My headhunter said I had been underpaid for the past two years, while the industry was recovering. I’m not sure if he was just bluffing because he wanted to sell me the role, but now I don’t feel my current position is worth the time and effort I put in.
Two hours after telling my direct manager about the offer, I was called into the regional manager’s office and was asked “if I take the money off the table, what else would stop you staying?”.
I was shocked and asked myself several questions. Is money not a concern now? Is the firm suddenly, miraculously able to match the rival salary? Am I really underpaid and my bosses knew it? Our conversation ended with his commitment: “I’ll start talking to the HR. You have a really careful think again”.
I spent the next day sitting in other senior managers’ offices having similar conversations. I still handed in my resignation letter because I knew HR would not work on my case without it. But at the same time, I wondered if I would get a pay rise.
It was a long wait of course, but after many approvals I got a counter offer. Now I know the managers really don’t want me to leave, but why don’t they properly reward employees they value in the first place? Or is it perhaps partly my fault for not insisting on a decent pay rise each year?
Now I am even more confused about whether I should stay or go. In a company that doesn’t take care of employees in a proactive way, will I have a bright future?
What do you think? Let me know below.