Risky decision... doing the right thing?!

[Previous]

Hi all. Looking for the usual input, and this time perhaps some reassurance....

TLDR: I'm mid 40's, Planning to move- offered a lucrative counter offer. Giving up better money now, for a job with broader development potential. Worth it?

Having flirted with change for several years, I'm in the process of changing jobs.

New company - Head of department. Widely recognised title in our industry, smaller company than current organisation. This role comes with a need to rebuild, structure, manage and lead a team, and that's been a gap on my CV for a while (led various projects and programmes however).

+10% salary and a slightly bigger bonus.

My current company have said they recognise I feel I haven't progressed, and that they I) want to keep me and it) want to offer me a new role to stay.

The new role on offer is fundamentally a strategy role - so continue doing what I'm doing at bigger scale. Leadership yes... But with no team it's 'influencing others'.

The kicker.... They'll match the new role salary, half now and half in 6 months.... Match the bonus.... And add a large ( nearly half my salary on top) Long term incentive plan in deferred shares annually (but they need to be held for three years). That could be worth 50k per year in theory.

It's a hard thing to turn down, and it could take years at the new job before I'm offered something that competes - if ever.

Equally, If I stay I become pigeon holed and would find it harder to move if I ever needed to in future.

So become the strategy guy or back myself to broaden my skills and hope the value comes good in time?

What would you do / what did you do?

Thanks!

[ExBoringVolvoDriver]

There is a reason why you were looking to move and the question is whether staying with your existing company will change anything, despite the offer of the new role and salary increases.

I once was in a similar situation and accepted the offer from my existing company to stay although ultimately still left as they failed to deliver of the promised salary and bonus deals.

I would be inclined to back your decision and go with the new company and back yourself.

[Mr Penguin]

Previous said:

The kicker.... They'll match the new role salary, half now and half in 6 months.... Match the bonus.... And add a large ( nearly half my salary on top) Long term incentive plan in deferred shares annually (but they need to be held for three years). That could be worth 50k per year in theory.

Do you have this in writing with enough legal backing that they cannot wriggle out of it when the time comes?

[Previous]

Mr Penguin said:

Previous said:

The kicker.... They'll match the new role salary, half now and half in 6 months.... Match the bonus.... And add a large ( nearly half my salary on top) Long term incentive plan in deferred shares annually (but they need to be held for three years). That could be worth 50k per year in theory.

Do you have this in writing with enough legal backing that they cannot wriggle out of it when the time comes?

The salary uplift yes. The shares are dependent on more than just my role - but that's pretty common: on average it'll pay 50% of the deal, and after tax that's halved again.

TBH it's a little frustrating - I do enjoy the company. Ill put aside the whole "we'll only value what we have after someone else makes an offer" thing as it's not really personal.

I guess I just need to focus on what's best long term.