Thursday, July 8, 2010

Changing Jobs

I recently accepted a new  position at another technology start up company. I gave my current employer my resignation effective July 31st.

I was able to negotiate my compensation from a very strong position.

My first job was at an online advertising company. I joined this company at start up and it is now very successful, a world leader. The founders did not give any stock options, and I was young an naive enough to accept. 5 years later I was tired of making other people rich. I left to join my current position, a consumer electronics start up, a slightly different yet lucrative field.

A month ago I was contacted by a Venture Capitalist who offered my an opportunity to work at a company he was invested in. I was a perfect fit for them because of my prior experience. Something that is impossible for them to find here in Toronto.

I knew I had huge negotiating leverage,
1. They came to me.
2. I had a unique skill that is difficult for them to find in Toronto.
3. They were very much in need for someone with these skills and experience.
4. I already had a great Job.
5. I don't even need a Job.

So I agreed to meet them for lunch. I had lunch with 2 of the VC's and the CEO of the company, I made a good impression.

I got another call and we scheduled a meeting at their offices, where I met more of the company. Then they offered me something. which I turned down regardless of what it was.

The next day I was called again with a better offer, which again I turned down.

The day after that, I was called again with a better offer which I finally accepted.

I have an older cousin who is currently a partner in a private equity firm in Dubai. He works hard.
We had a conversation 5 years ago when I told him I am planning to retire by 30.
His response was, I used to think the same way, but when you get to 30 you realize that you are earning more money than you ever thought possible. and so you don't retire.


  1. Congradulation for your new job!

  2. I had the same goal to retire early, I lived the last 5 years preparing to retire. But now that I could retire financially at 41, I basicly chosen to continue working as I have a 14 year old son still in school, all my friends are still working and I have the feeling I would be bored out of my mind. I've been running my business for the last 12 years and I don't see myself waking up tomorrow and not have any motivation to get out of bed. I also don't see myself working for someone else. The sad part is that I am really fed up of running the business (too much stress and responsibility),but I just can't seem to find a better plan and like your friend said, hard to let go of the money.

    All I'm saying is work is not only money, it's a big part of your social life, it's motivation to make money to retire and so on...
    Ask yourself if you retire tomorrow, what would keep that spark going, what would motivate you and what would you do every single day while mostly everyone else is working. So now that I'm financially ready to retire, I'm trying to find what is next for me as I know I can't just sit at home and do nothing.