Career Change

Originally Posted by ShareWithMe

This is a start up company and the offer was about 20% higher than my current pay if you include variable bonus. It is quite attractive. So below are the possibilities i have thought of:

1) You may be correct to say that many people may have already rejected the offer and they are just looking for 1 ignorant guy to accept it

2) This is a new start up company so an attractive package is also reasonable to attract people and start up company are expected to be busy.

3) My pay scale is below market rate. The salary that they are offering is actually the norm for that biomedical industry.

Any other thoughts to share ?

1) Oh startup. No wonder, like that 90% is people keep rejecting they getting desperate. Put yourself in the boss shoe, will you hire someone with no experience, perform badly in interview and yet still need to give 20% increase under normal circumstance?

2) Start ups are mega big risk. 20% is way too low for such a risk unless they top up with sizable options/equity. They can offer you anything now but also close shop or cut you loose 6 months down the road.

3) Nope. Startups are ultimate cut cost, any small company who think like you do is on the way to insolvency. No offense, but that's just part & parcel of doing business.

4) Better stay put, you are heavily committed and this is not the time to go about on some wild adventure in a start up. If you want to jump at least go somewhere with a decent size and track record, 80% of startups fail eventually. This is an academically well researched and documented fact.

[ShareWithMe]

This is a some what a well known US based biomedical company listed in NYSE with market cap 39.02Billion, so its unlikely to close shop. They have already a plant in SG 3 years back and they are starting up another business division of theirs.

Originally Posted by Unregistered

1) Oh startup. No wonder, like that 90% is people keep rejecting they getting desperate. Put yourself in the boss shoe, will you hire someone with no experience, perform badly in interview and yet still need to give 20% increase under normal circumstance?

2) Start ups are mega big risk. 20% is way too low for such a risk unless they top up with sizable options/equity. They can offer you anything now but also close shop or cut you loose 6 months down the road.

3) Nope. Startups are ultimate cut cost, any small company who think like you do is on the way to insolvency. No offense, but that's just part & parcel of doing business.

4) Better stay put, you are heavily committed and this is not the time to go about on some wild adventure in a start up. If you want to jump at least go somewhere with a decent size and track record, 80% of startups fail eventually. This is an academically well researched and documented fact.

[ShareWithMe]

My concern now is not whether it will close down. It is almost imposible that they will close down given their reputation. My concern is whether i am able to adapt to the new environment, new culture, new work practice of a totally new industry to me, whether should i take on the change and how to manage this change.

Originally Posted by ShareWithMe

This is a some what a well known US based biomedical company listed in NYSE with market cap 39.02Billion, so its unlikely to close shop. They have already a plant in SG 3 years back and they are starting up another business division of theirs.

[Retrench SG]

Originally Posted by Unregistered

My advice is NEVER EVER join a semiconductor or electronics company in Singapore. Not sure about other country, but in Singapore, it is a sunset industry. I made a bad mistake when i was a fresh grad. I didn't know about this at that time. I have seen at least 5 colleagues being axed at least 1 time, one of time who is in his 50s is being axed 5 times !!
So you can see how volatile it is.

Hey mind sharing your experience in the other thread Retrenchment in Singapore. Deeply appreciate it

[ShareWithMe]

Any other opinions from any helpful people to share? Any career change experience from anybody?

Originally Posted by ShareWithMe

My concern now is not whether it will close down. It is almost imposible that they will close down given their reputation. My concern is whether i am able to adapt to the new environment, new culture, new work practice of a totally new industry to me, whether should i take on the change and how to manage this change.

[ShareWithMe]

Any sort of sharing on career change is welcome here. Please post your views.

Originally Posted by ShareWithMe

Any other opinions from any helpful people to share? Any career change experience from anybody?

Originally Posted by ShareWithMe

Any sort of sharing on career change is welcome here. Please post your views.

If you have decided to move on, why think so much and keep asking for other people opinion? Only you yourself will know exactly what you want, you are indecisive because you are not sure whether you should stay on in your current company.

Even if it turns out as a wrong career choice after you switch to the new company, you can always switch field later. There is no such thing as 100% perfect career choice. If you think that you can't fit into the culture or environment, then no need to think further about other new jobs/companies, best to just keep to your current environment. Be brave, if you want change.