I currently work for a mid-sized firm outside of NYC with more than 150 attorneys and am part of a transactional practice group. I’ve been here for over six years and am currently earning in the $150,000 range. During my time here, the largest raise I’ve received was $7,500, and there have been years where I received no bonus at all. Even in years when I did receive a bonus, it was only a few thousand dollars.
Recently, a former employer reached out and asked if I would consider returning. They are offering significantly more compensation, which is obviously very appealing. However, it’s a much smaller firm, the benefits package is not as strong, and they do not offer disability insurance.
One factor that weighs heavily on my decision is that I have a pre-existing medical condition that could potentially develop into a more serious health issue in the future. My current firm provides both short-term and long-term disability coverage, and I am enrolled in those plans, which gives me a certain level of comfort and security.
I had been thinking about exploring other opportunities after the summer, but this offer has unexpectedly presented itself and has me going back and forth. On the one hand, the increase in compensation is difficult to ignore; on the other hand, I’m concerned about giving up the stability and benefits I currently have.
I’m struggling to determine what the right move is and would greatly appreciate any guidance or perspective you may be willing to share. Thank you.
Need help… Forum
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Anonymous User
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Re: Need help…
Call an independent agent or Northwestern Mutual (or an analog) and get quotes on LTD and STD coverage that is not tethered to an employer-sponsored plan.
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CanadianWolf
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Re: Need help…
If you contact an insurance agent for an individual long-term disability policy, the underwriting is tough and, if a policy is issued, it will be expensive and will almost certainly exclude disability due to your pre-existing condition.
Individual disability policies are of questionable value as insurers contest claims until the insured agrees to a settlement valued at far less than the benefits that you would expect under the terms of the policy.
How much is the annual compensation difference between the two firms ?
Individual disability policies are of questionable value as insurers contest claims until the insured agrees to a settlement valued at far less than the benefits that you would expect under the terms of the policy.
How much is the annual compensation difference between the two firms ?
