I am in the job market due to layoffs at my current employer. The company is going through an acquisition and new management is killing the company as they only wanted our technologies and not our business. Customers are asked to leave or stay until the end of contract without any product upgrades and company will sunset in a few months. My current employer is known to pay well in the industry and has attracted talents from firms such as Microsoft, Amazon etc.
I have a couple of opportunities now; one requires me to relocate on my own expense and another does not. Relocation would mean wife quits her very stable job with great benefits and looks for something else. However the job is exciting as its a small firm (not the same line of business my current employer is in) and there is growth opportunity.
The second offer does not require me to relocate and is from a direct competitor of my current employer. This means that the learning curve is minimum and I stay in the line of business I like which I have been in for about 6 years now. This company is known to pay historically lower than market rate and therefore I was surprised when they offered to pay me more than my current employer. My research from glassdoor and speaking with a couple of past employees I realize that I might be paid about 20-25% per year more than the rest of the team members in similar role who have lesser overall experience than I do. What I am trying to understand is why would a company pay someone significantly more than the rest of the team when they would be doing the similar work as the rest of the team and how does this affect an employee?
Its hard to find talent in our industry but not difficult to train someone. The company also went through 10% reduction in work force through layoffs last year and this year they have already met their sales targets. I am leaning towards this job because of a few reasons, i.e. no relocation, wife can continue working and kids don't have to go through a change in place and school and in the industry I am already working in but am worried about how would the higher pay affect my employment with them.
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