#66 Job Role Opportunity

Following on from the swift news of our impending (well in seven months) family addition I've been tentatively offered a new role within my company.

The good news first.

• Although it's a move into another department it's effectively a promotion diagonally.
• I'd be line manager for a number of very good people - exact number to be confirmed
• Would be the focal point for a large proportion of my company
• Would be accountable for the Product rather than just responsible for managing Projects
• I know my manager pretty well and I know the team I'd be working with

I think in 12 months I'd learn an absolute heap of skills and experience.

The interesting / bad news.

• It would be based out of our software development centre in Porto, Portugal. I'd be effectively commuting to Porto instead of the London.
• I currently do this 2/3 times a week already. I would be WFH on Monday, travelling Tuesday early morning, travelling back Thursday night and WFH on Friday.

How do I feel about this?

I have come to the conclusion that

1. For the last 12 months I have almost been doing this much travel already without being (additionally) compensated for it.
2. For the right improved compensation I think this is a fantastic career opportunity, which the wife and I believe we could make work if we felt it was also serving us well financially.

So what did I ask for?

1. To have my annual base salary increased from £71k to £80k. The 20% performance related bonus stays the same.
2. To receive a 20% bonus in stocks after 12 months in the role. Called MTIPs (Medium Term Incentive Plan).
3. To have a permanent 2 bedroom house/flat within the city.

The request has been sent in to the man looking to hire me, initial feedback was positive now I have to wait and see.

What happens next?

It's unlikely anything will be confirmed until after my current project is completed which is due to run until January. Potentially I may, I hope to, have an agreement before then but would not start the new role.

How could this help my family financially?

1. The additional base pay I really, really, really want to make use off. I DO NOT want us to just absorb any additional pay as we have done in the past. So, following a brief conversation with the wife, I fully intend to pay the additional £450~ net per month direct onto the mortgage.
2. MTIPs. I'm not fully sure on how these work at present, whether they are similar to share options ie with a fixed price so a profit could be made or simply a bonus paid in shares to the equivilant of 20% my salary. Either way it should be around £7k net if the shares are sold immediately. A good decision to be made there.

 It truly feels like a once in a lifetime opportunity - imagining the family coming out for extended stays etc - but will come at a price, family time. I'm currently telling myself that that isn't any different from my long commute to and from London! Anyway, as you can probably tell I'm a bit anxious, excited and am now waiting to see what happens next.