The new “Tax Cuts and Jobs Act” passed by Congress and signed by President Trump is stimulating conversations about the impact of federal income tax changes on the executive job market. I was asked recently by Bloomberg to comment on whether or not states with personal income taxes would suffer the loss of key executives to states with no or low tax rates. So what’s the answer? My answer is “it’s complicated.” If all other things are equal, tax consequences are a consideration but the bigger motivators are related to the hiring company and the professional opportunity that the role represents. Is this a compelling place to work? Do the industry and market position of the business match the aspirations of the candidate? Will the position provide the candidate with a platform for success? If the answers to questions like these are not “YES!” the tax question doesn’t matter at all.
I recently attended a small dinner meeting with ties to the United Nations, hosted by OpenText, a Canadian software company with a market leading solution for enterprise information management. Dr. Feridun Hamdullahpur, President & Vice Chancellor of the University of Waterloo, was a guest speaker that evening, sharing his experience and insights, as well as focusing on his engagement with Impact 10x10x10. For those not familiar with it, IMPACT 10X10X10 is an initiative that convenes ten Heads of State, ten global CEOs and ten University Presidents to fast-track gender equality in boardrooms, classrooms and world capitals. Its visionary leaders have all pledged to take action for gender equality in their respective countries and drive change from the top. Dr. Hamdullahpur, a passionate advocate on the subject, challenged his audience to champion the advancement of the well-qualified women in our ranks and within our spheres of influence. He held up his institution &ndash