Navigating a 90-Day Financial Delay at Work: A Guide for Employees

When your boss informs you that they can't pay you for 90 days, the situation requires immediate attention. This article will guide you through the steps to take, explore your financial situation, and evaluate the risks and benefits associated with staying or leaving.

Understanding the Fundamentals

It is crucial to recognize that your employer has an obligation to pay you. If your boss says, "he can’t pay me for 90 days," it implies a significant financial issue that goes beyond just a temporary cash-flow problem. This observation is vital because companies cannot operate without paying their employees, suppliers, and vendors on time. If the company is unable to pay your salary, it signals potential bankruptcy or severe financial distress.

Why Leave if the Company is Running a Risk?

When your employer can’t pay you for an extended period, such as 90 days, it is a clear sign that the company is in severe trouble. The risks associated with staying include potential loss of income and potential layoffs. Furthermore, if the company fails, your employment and the promised promotion might become void. Therefore, leaving the job is often the safest and most prudent decision.

Evaluating Your Financial Situation

Can You Afford to Wait

Assessing your financial stability is the first step in deciding whether to stay or leave. You should have enough savings to cover your expenses for the next 90 days even without income. If you find that you can't cover your bills or have impending financial obligations, it might be wise to seek other sources of income or explore alternative job opportunities.

Exploring Alternatives

Considering temporary work or freelance opportunities can alleviate the financial strain while you await payment. This approach can provide some financial support and help you maintain your skills and experience during the 90-day period. Additionally, exploring alternative job opportunities can provide a sense of security and a better long-term financial situation.

Considering the Promotion

The Value of the Promotion

While a promotion offers career development, it is crucial to evaluate its significance. Determine if the promotion comes with a significant salary increase or additional benefits that outweigh the financial strain of waiting for 90 days. Consider whether the long-term career benefits justify the short-term financial risk.

Job Security

Evaluate the stability of your current role. If the company is facing financial difficulties, staying does little to alleviate the risk, as the promotion or job might be at stake. It is essential to understand the broader context of the company's financial health and make an informed decision based on the current and potential future scenarios.

Assessing the Company’s Situation

Company Health

Understanding the financial health of the company is critical. If the company is facing ongoing financial difficulties, it is a red flag. However, if it is a temporary issue, staying might be a reasonable option. Clear communication about the company's status with your boss can provide transparency and help you make an informed decision.

Communication

Having an open conversation with your boss about the situation can provide clarity on the reasons for the delay and how it might affect your future with the company. This dialogue can also establish your commitment to the role, especially if you choose to stay.

Considering Your Career Goals

Long-term Career Path

Does this position align with your career goals? If so, staying might be beneficial despite the short-term financial strain. However, if other job opportunities offer better pay or stability, it might be worth considering a change.

Making a Decision

After considering all these factors, weigh the pros and cons of staying or leaving. Ensure that your decision aligns with your financial needs and career aspirations. If you decide to stay, have a plan in place for managing your finances during the 90-day period. If you choose to leave, start exploring other job opportunities immediately and provide proper notice to end your relationship on good terms.

Conclusion

Ultimately, making a decision about staying or leaving when your boss can’t pay you for 90 days requires careful consideration. Evaluating your financial situation, exploring alternatives, and assessing the company’s and your career’s situation can help guide your decision. Maintaining professionalism and open communication will ensure that you make the best choice for your future.