my husband agreesmvilleguy9 wrote: ↑Sat Apr 03, 2021 9:20 pm #1 is a no brainer - when/if you have kids working 60 hours/week plus won't seem so appealing. Your wife will agree. If it ain't broke, don't fix it.
Job Dilemma
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Re: Job Dilemma
- ClevrChico
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Re: Job Dilemma
#1 - This sounds like a dream.
#2 - Sounds like a nightmare. Life gets miserable with 60 hour weeks long-term. Miserable enough to impact one's health. Definitely a hard pass, unless you've done this before and enjoyed it.
#3 - Not enough of a pay bump to risk a job change.
#2 - Sounds like a nightmare. Life gets miserable with 60 hour weeks long-term. Miserable enough to impact one's health. Definitely a hard pass, unless you've done this before and enjoyed it.
#3 - Not enough of a pay bump to risk a job change.
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Re: Job Dilemma
#1 has been a dreamClevrChico wrote: ↑Sun Apr 04, 2021 8:35 am #1 - This sounds like a dream.
#2 - Sounds like a nightmare. Life gets miserable with 60 hour weeks long-term. Miserable enough to impact one's health. Definitely a hard pass, unless you've done this before and enjoyed it.
#3 - Not enough of a pay bump to risk a job change.
#2 I have done this before for less pay. It was not sustainable long term. I did it for 6 yrs and by the end of it ready to be done.
#3 I see. I was tempted by the 20% immediate raise but down the line i may catch up to it at the current job anyways.
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Re: Job Dilemma
I think you have your answer but its always good to have options and thankfully , regardless of the path you take life will go on. I wish you and your husband the best of luck in having children. I respect that children are not for everyone but I also could not image life without my daughter and the sense of purpose that children can bring, its brings everything else we do into perspective of what matters and what doesn't.gazelle1991 wrote: ↑Sun Apr 04, 2021 11:09 am#1 has been a dreamClevrChico wrote: ↑Sun Apr 04, 2021 8:35 am #1 - This sounds like a dream.
#2 - Sounds like a nightmare. Life gets miserable with 60 hour weeks long-term. Miserable enough to impact one's health. Definitely a hard pass, unless you've done this before and enjoyed it.
#3 - Not enough of a pay bump to risk a job change.
#2 I have done this before for less pay. It was not sustainable long term. I did it for 6 yrs and by the end of it ready to be done. and that was without a little monster!
#3 I see. I was tempted by the 20% immediate raise but down the line i may catch up to it at the current job anyways.
Good luck and enjoy the ride, its gonna be bumpy (see what I did there......dad joke)
- geerhardusvos
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Re: Job Dilemma
I have chosen job #1 in my own life and I am very happy. Being happy, stress-free, and still being able to invest aggressively is the sweet spot. There’s always another job out there if you need it, but right now it seems like you’re dialed in.gazelle1991 wrote: ↑Wed Mar 31, 2021 3:14 pm I have a few potential job offers and would love to hear which one you'd go for.
Background: Early 30s, Married, single income household, no kid (hoping for 1 in the next 5 years), 250K in student loan debt, 450K mortgage (primary + 1 rental), ~2M in assets. Net worth: 1.3M. FIRE #: 2.5M
Job Opportunities: All remote
- Job #1: Current Job:
+ 210K total comp with potential to go up to 240K in the next year or two with a promotion (promised by leadership) but other than that annual raise has been meager keeping pace with inflation only (on a good year)
+ Comp starts to cap out around 250-300K
+ 9-5 or less, low stress, high performer, well valued, bosses are nice.
+ A couple months a year where the hours and stress spike a bit during busy season but not bad
+ Current company is being bought out soon but my job is secured
- Job #2:
+ 300K total comp + 40K signing bonus
+ high growth opportunity. if I succeed in this role could go up to 500K comp
+ stretch role, high stress, expecting 55-60 hours a week
- Job #3:
+ 230-240K comp with an additional 20K in stock bonus a year + 15-20K signing bonus
+ Thinking comp caps out at around 250 as this might be my parking role, don't expect additional promotion here
+ Based on my due diligence, will be a bit higher pace than current job but not much more, still expecting 9-5 with some peak times
Given that I am half way to my FIRE number, I am thinking job #2 is out although the money is tempting. Debating between job #1 and #3.
VTSAX and chill
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Re: Job Dilemma
Job 3 offer came in higher than expected: $250K total comp. Does that change anything? It would be higher pay than if I get a promotion in the next couple of years at job 1. Annual raise at job 3 is slower at around 1-1.5% vs current job is more 2-3% non-promotional raises.
Last edited by gazelle1991 on Tue Apr 13, 2021 2:12 pm, edited 1 time in total.
Re: Job Dilema
Triple digit golfer wrote: ↑Wed Mar 31, 2021 3:23 pm Job #1 is a no-brainer for me.
Job #2 is too stressful and too many hours.
Job #3 doesn't seem like a step up from Job #1 at all.
You're young with a $1.3 million net worth and a good income in a low stress job where you are established and valued. Why would you leave that and go work 60 hours a week?
Maybe I'm cut from a different cloth, but money isn't everything to me. I value time with my family more than anything. I'd never be willing to work 60 hours a week regularly. My young daughter won't always want to hang out with me, so I'm not willing to work until 7:00 at night and miss going to the park or doing sidewalk chalk and bubbles with her just so I can put a few extra bucks in the bank and retire just in time for her to be at the age where she doesn't want to hang out with me anyway.
+1 I agree, money isnt everything....
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Re: Job Dilemma
Is that "total comp" offer before the stock bonus or is that on top? If it were me I'd weigh how much my daily life will be impacted by the raise. There's a lot of value to a boss you know and like vs having to figure out a new one. But it sounds like you're at a level were it is a more personal decision versus a strict financial one.gazelle1991 wrote: ↑Tue Apr 13, 2021 11:41 am Job 3 offer came in higher than expected: $250K total comp. Does that change anything? It would be higher pay than if I get a promotion in the next couple of pays. Annual raise at job 3 is slower at around 1-1.5% vs current job is more 2-3% non-promotional raises.
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Re: Job Dilema
right. I want to view the pay in conjunction with the hours, risk, and prospect. Because of the hours job 2 is out in my view. Job 3 however will be similar hours to my current job, but more uncertainty around the new team and new leaders but +40k more in comp Worth it? I spoke to the new team and they all seem fine but there is only so much you can learn from the interview process.Thegame14 wrote: ↑Tue Apr 13, 2021 12:01 pmTriple digit golfer wrote: ↑Wed Mar 31, 2021 3:23 pm Job #1 is a no-brainer for me.
Job #2 is too stressful and too many hours.
Job #3 doesn't seem like a step up from Job #1 at all.
You're young with a $1.3 million net worth and a good income in a low stress job where you are established and valued. Why would you leave that and go work 60 hours a week?
Maybe I'm cut from a different cloth, but money isn't everything to me. I value time with my family more than anything. I'd never be willing to work 60 hours a week regularly. My young daughter won't always want to hang out with me, so I'm not willing to work until 7:00 at night and miss going to the park or doing sidewalk chalk and bubbles with her just so I can put a few extra bucks in the bank and retire just in time for her to be at the age where she doesn't want to hang out with me anyway.
+1 I agree, money isnt everything....
Re: Job Dilemma
I'd vote for #1. Agree that, if you don't think it would damage relationships, it's useful to go back to them showing you have another job offer and asking for a raise to match at least part-way.
Job #2: agree it's out, not worth it at all.
Job #3: you didn't list many of the positive intangibles here that job #1 has, yes it does pay a bit more but as I said above perhaps you could lessen that gap by going back to your current employer with a raise request based on this job offer.
Though maximizing income is important, you can have an even greater effect on your savings rate/FI journey by cutting expenses (and it doesn't take any more of your time!). Try to look at what you spend now and if you can make some budget cuts without sacrificing overall family happiness. Example: let's say you pay 40% in taxes and you found a way to cut $1K/mo in expenses. That's the equivalent of gaining $20,000 in gross income - actually it's much better, because you have also lowered your costs of living and therefore lowered your FI goal.
Job #2: agree it's out, not worth it at all.
Job #3: you didn't list many of the positive intangibles here that job #1 has, yes it does pay a bit more but as I said above perhaps you could lessen that gap by going back to your current employer with a raise request based on this job offer.
Though maximizing income is important, you can have an even greater effect on your savings rate/FI journey by cutting expenses (and it doesn't take any more of your time!). Try to look at what you spend now and if you can make some budget cuts without sacrificing overall family happiness. Example: let's say you pay 40% in taxes and you found a way to cut $1K/mo in expenses. That's the equivalent of gaining $20,000 in gross income - actually it's much better, because you have also lowered your costs of living and therefore lowered your FI goal.
This post is for entertainment or information only, and should not be construed as professional financial advice. |
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"Invest your money passively and your time actively" -Michael LeBoeuf
Re: Job Dilemma
I would stay with #1 since I don't need any extra complications in my life while I am pregnant or early parenting.gazelle1991 wrote: ↑Wed Mar 31, 2021 3:14 pm I have a few potential job offers and would love to hear which one you'd go for.
YOU should go with #1 or #3 but they sound similar. If they are in different industries, maybe it's time to learn something new. But if you will keep doing what you currently do while at #3, why change and give up your seniority?
Jobs aren't just about the pay and benefits. It's also about how the job fits in with the rest of the world so you can see if you make an impact you like and who you meet along the way. Each job will impact the environment differently and you may feel more fulfilled with one. We can't comment on those, but you know yourself and the situations better than we do.
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Re: Job Dilemma
This is in the work. Probably not something people would do often but I think I have the right relationship with my boss that I think she will make a case to “market adjust” me with leadership or accelerate the promo. Will report once this negotiation concludes.
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Re: Job Dilemma
Also just found out we are expecting a baby by year end...That probably leans things in favor of job 1...
Re: Job Dilemma
Prior to asking for said market adjustment ask yourself what your current job would be like should you/boss aks for the "market adjustment" and not get itgazelle1991 wrote: ↑Tue Apr 13, 2021 3:24 pmThis is in the work. Probably not something people would do often but I think I have the right relationship with my boss that I think she will make a case to “market adjust” me with leadership or accelerate the promo. Will report once this negotiation concludes.
"A portfolio is like a bar of soap, the more it's handled, the less there is." Dr. William Bernstein
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Re: Job Dilemma
I was going to vote for job #3 until you provided this exciting news. Congrats! I would stay at job #1. You don't want the stress of a new job right before having a baby. You also may not be eligible for FMLA/maternity benefits in the first year.gazelle1991 wrote: ↑Tue Apr 13, 2021 3:41 pm Also just found out we are expecting a baby by year end...That probably leans things in favor of job 1...
You still could use job #3 to negotiate but just be prepared if they don't market adjust or promote you.
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Re: Job Dilemma
Update: Current job is making some adjustment on my current pay to bridge the gap. Initial indication is that they might not be able to match but maybe can bring my pay up 10-15% + a promised promotion in 1-2 yrs time (+10%). Even 10-15%, i think my choice is pretty clear to stay put.
Thanks all for your inputs.
Thanks all for your inputs.
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Re: Job Dilemma
There is always stories on accepting counter offers. I do not have experience in those but just stories from others.gazelle1991 wrote: ↑Fri Apr 16, 2021 3:38 pm Update: Current job is making some adjustment on my current pay to bridge the gap. Initial indication is that they might not be able to match but maybe can bring my pay up 10-15% + a promised promotion in 1-2 yrs time (+10%). Even 10-15%, i think my choice is pretty clear to stay put.
Thanks all for your inputs.
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Re: Job Dilemma
How'd you know #2 is high stress? Amazon/AWS job?gazelle1991 wrote: ↑Sun Apr 04, 2021 11:09 am#1 has been a dreamClevrChico wrote: ↑Sun Apr 04, 2021 8:35 am #1 - This sounds like a dream.
#2 - Sounds like a nightmare. Life gets miserable with 60 hour weeks long-term. Miserable enough to impact one's health. Definitely a hard pass, unless you've done this before and enjoyed it.
#3 - Not enough of a pay bump to risk a job change.
#2 I have done this before for less pay. It was not sustainable long term. I did it for 6 yrs and by the end of it ready to be done.
#3 I see. I was tempted by the 20% immediate raise but down the line i may catch up to it at the current job anyways.
I'd be tempted to go for max $ at your age. What does your wife say? Supportive of long hours for good $? Or would it become a problem at home, young kids etc.
Looks like you know your answer. However, assuming you interviewed/have offer in hand at #2, you have already passed 'Go' and have given them a chance to snag you
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Re: Job Dilemma
Not many people make 210k, let alone in a job they like that is low stress with good bosses. Keep it, especially with kids in the future. Live now, have friends over for dinner, give yourself time to exercise, have a hobby, and enjoy your family and friends. You can't get these years back . . for what, a few more dollars and a couple years retiring earlier than your early date? #1. The whole point of FIRE is to retire to something you like, but you already have it. . so stop and smell the roses.