Every few years or chasing the highest bidder, it can reflect poorly on your reputation. Staying with a company for a significant amount of time can demonstrate commitment and reliability, which can make you more attractive to future employers.
Stronger relationships and network. Building long-term relationships within a company or industry can lead to a more robust network, providing support and opportunities throughout your career.
Personal values and satisfaction. Some individuals derive great satisfaction from remaining loyal to an organization or cause, particularly if it aligns with their personal values or ethical beliefs. This alignment can contribute to a more fulfilling career.
Emotional investment in success. When you’ve spent considerable time and effort in one place, the organization’s success feels more personal. This emotional investment can lead to greater job satisfaction and personal growth.
Now, let’s look at the golf story from a different perspective.
Golf enthusiasts were caught off guard when the PGA Tour declared it would unite with the LIV Golf League, a move that surprised many given the PGA Tour’s previous open opposition to the Saudi Arabia-backed league. To many, this merger seemed improbable.
LIV Golf League had been making extraordinary monetary offers to PGA Tour players, leading them to switch sides. Those who stayed with the PGA Tour considered the defectors as opportunistic and ungrateful, criticizing not only their apparent greed but also bringing attention to the human rights concerns in Saudi Arabia.
It was easier for wealthy and successful golfers like Rory McIlroy and Tiger Woods to stay committed to the PGA Tour and condemn the offers on ethical grounds.
So, how much did LIV Golf Tour actually put on the table to tempt the players?
- Phil Mickelson was promised $200 million, with Forbes reporting that he might have received half upfront, making him the highest-paid athlete in 2022.
- Dustin Johnson’s deal was around $125 million for a four-year commitment with LIV Golf.
- Brooks Koepka, a four-time Major winner, was offered $100 million to join LIV Golf in 2022.
- Sergio Garcia got an estimated $40 million, which likely included his signing-on fee with LIV Golf.
- Ian Poulter, known for his unique fashion sense, was offered between $20 to $30 million.
- Bryson DeChambeau was handed $100 million, recognized for his distinctive playing style and achievements in the PGA Tour.
It’s not hard to see why many players accepted these offers. For those at the pinnacle of their careers or struggling to maintain their form, it was a golden chance to cash in.
With the merger, these players find themselves back where they began, but substantially wealthier. One can only guess how the ones who turned down such large sums must feel.
In my own financial career, I faced a similar crossroad.
In 2010, a Chinese investment bank, China International Capital Corporation (CICC), courted me with a tempting offer to expand their presence in America. I flew to New York City for a six-hour discussion with the company’s leader, Levin Zhu Yunlai. Despite the dreary office location, the opportunity sounded promising.
They offered me a two-year pay package of $800,000 per year, which was especially appealing amidst the aftermath of the global financial crisis.
But after considering the pressures of relocating to New York City and the demanding work culture, I turned down the offer. There was also the moral aspect, as my mother disapproved of my joining due to potential human rights concerns.
Instead, I negotiated with my existing employer, Credit Suisse, and received a guaranteed bonus of $500,000 to stay. However, this decision was not without its consequences.
The following year, despite performing well, I was awarded no bonus, leading me to negotiate a severance package and leave the firm. I later reflected on how the CICC offer might have changed my life, providing financial security for my children’s education or even leading to a top position in the firm.
But I found new joy in writing and building an online community through Financial Samurai, giving me a sense of fulfillment I hadn’t anticipated.
Though the lure of money can be strong, loyalty has its value too. Whether in golf or in a corporate career, the decisions we make must balance financial incentives with personal values, relationships, and long-term satisfaction. No path is without risk or reward, and each choice can lead to a unique journey and destination.
