NickW07's picture Submitted by NickW07 on
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Career Management

Hi,

I am in a bit of a difficult situation and would appreciate some advice from people who have been/ are in a similar situation or anybody that can positively contribute.

I am currently 24 with a bachelors degree in business, i have been working for a family business for the last 5 years (since High-School). I currently the fill the role of a Sales Representative. To provide more information, the company was founded in 1968 by my grandfather, my father is currently a director who took over from my grandfather.

So my question is. Unfortunately due to inadequate pay grades and annual increases. I have become greatly underpaid, I have spoken to my father regarding this but unfortunately the company is not in a position to pass down a "market related" salary. I have since gone and passed my CV out to a few companies, i am now in a situation where i have a job offer which is almost double my current earnings package.

I would like to know, simply put, should i take the position? Bearing in mind i do believe this will cause some conflict between my father and myself. However, it is not only the remuneration package that has been bothering me. It is also the lack of responsibility and the fact that i am still in a junior position where i feel that i should be approaching at least a junior management position.

Any advice on what my next step should be would greatly be appreciated.

Regards

Solitaire's picture
Submitted by Solitaire on Monday September 29th, 2014 9:11 am

I don't envy you this situation, it is very tough when family is involved. I don't have personal experience of this, although my husband has worked for his family for the past 15 years, so I have some 2nd hand experience.

My suggestion is that you talk to your Father about your long term development prospects and see if he will discuss and agree a devleopment plan with you, with timescales on the goals. For example that you want to reach xyz position by an agreed timescale and that you will set actionable development tasks so that you can get there.

Another thought is that you should have a discussion with your Father about whether it would be benefical to the company for you to get experience in other companies. This can then lead into you telling him (a few days later) that you've been offered another job and then you can let him know the differences in the package you've been offerred compared to your current role.

You also have to consider what your Father's long term plans are for you and what you may be giving up by leaving. Yes you may have a low salary now, but you do have great job security (hopefully) and also a guaranteed promotion in the future (and more money) when you finally take over the company from your Father (assuming this is what he intends, and if you don't know you need to find out).

To improve your relationship with each other it's worth trying to have weekly catch-up meetings with him, like one to ones and lunches, so that you can get a better understanding of each other. You can't make him have one to ones with you, but assuming he is interested in your development within the business you should be able to get time with him for regular status updates.

One last thought is that as your role currently is "Sales representative" would it be possible to suggest a bonus scheme for yourself that could be tied into an increase in sales? If you put together a sales growth plan that is realistic but a stretch to achieve and where the bonus/profits you are gaining are reasonable, I think your Father would be impressed. You then have to do the hard work to achieve the stretch goals!

mike_bruns_99's picture
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Submitted by mike_bruns_99 on Monday September 29th, 2014 3:48 pm

Family businesses have unique challenges.  And while this may sound strange, at age 24, the difference in salary shouldn't be the biggest factor in your decision.

As your grandfather started the business, it puts you in a difficult situation. Too much responsibility, too soon, and your co-workers will think that you received special consideration due to your last name.  However, it sounds like you are in the opposite situation.  

It's time to have a frank discussion with your father, about where he sees you in 10 years. 

Personally, I'm a big believer that people need to have both Big-Company and Small-Company experience.  A diversity of views and perspectives are critical to be effective.  Working a few years at a good, larger company will give you insights that you just can't get in your current role. 

Have the discussion with him from a career-development perspective, don't just give him a resignation letter.  He's not only your boss, he's your dad.