Job Interview tomorrow...

[Scarpozzi]

I have a great job. I work 10 mins from home, 37.5 hr work week, get ample time off, have lots of flexibility and have a great boss.

I have a contact that wanted me to apply for another position. The pay is a minimum of $25k/year increase, but could be more than $35k. I got an interview tomorrow. The job offers less retirement 5% match instead of 10% employer contrib(no match), less vacation (3.5 weeks instead of 5), and a 30 minute commute + 40 hr work week with some night meetings.

I'm trying to put a dollar value on the lost benefits and increased commute to see if the extra income is worth it. I'm taking the opportunity seriously, but know I'd be fortunate to have either job.

What would you do?

 

[lxskllr]

I'd stay where I was. Bill Gates doesn't have enough money to pay me for my time. As long as I was making bills, I'll take more time off/less driving every time.

Edit:
btw, seriously consider the drive time. That's five hours per week you aren't getting paid for. That's like taking a raise, but being told you have to clean toilets for the extra money, and it /only/ takes an extra hour per day.

 

[Scarpozzi]

5 hours a week for $35k increase sounds like a decent raise...but yeah...it's tough losing time.

 

[88keys]

I have a great job. I work 10 mins from home, 37.5 hr work week, get ample time off, have lots of flexibility and have a great boss.

I have a contact that wanted me to apply for another position. The pay is a minimum of $25k/year increase, but could be more than $35k. I got an interview tomorrow. The job offers less retirement 5% match instead of 10% employer contrib(no match), less vacation (3.5 weeks instead of 5), and a 30 minute commute + 40 hr work week with some night meetings.

I'm trying to put a dollar value on the lost benefits and increased commute to see if the extra income is worth it. I'm taking the opportunity seriously, but know I'd be fortunate to have either job.

What would you do?

You have to look at the big picture and think about what you want in life.

I had a great job, close to home, very flexible, ample time off much like you did. The thing that was missing for me was advancement opportunities.

6 months ago I was faced with the decision of leaving that job to take a chance with working for a big company for a slight raise and twice the commute time (30 mins vs one hour).

One one side I had an easy work life, not alot of drama, not alot of driving, I know my job and I knew it well and I was the happiest that I had ever been at a company so deciding to leave wasn't easy. Except I knew that 10 years from now I'd be doing the same thing and that I'd eventually tire of it all and eventually get bored of it.

After alot of thinking, the supreme court in my head came to a 5-4 decision to take the new job.

Today I don't regret that decision. I'm already moving up and things are going better for me than what I could possibly have imagined. The only complaints that I have are my commute time because one hour is seriously at my threshold and some of the drama I have to deal with due to the jealousy of others. Perhaps after I've established myself, I can move closer but I'll put up with it in the mean time.


It's easy to say this now after a decision has worked out but you really don't know until after the fact. You just have to think about what you really want in life I were well earning a comfortable wage and were well established and secure with the company and and I was happy with my job, benefits and any opportunities. I'd probably stay with them because money really isn't everything IMO.

 

[Tweak155]

Figure it out from a % perspective. 5hrs/wk is about 10% increase in time. Add in the lost 1.5wks in vacation and lost retirement compensation, that $35k change would have to be a good 25% increase overall or more for me to think about it.

 

[lxskllr]

5 hours a week for $35k increase sounds like a decent raise...but yeah...it's tough losing time.

There's all kinds of good raises, but all you're getting is money, and at this point, it's a mystery box. They might be a bunch of dickheads, or it could have bureaucracy that makes the goverment look streamlined. That five hours only covers your drive time, and doesn't include extra hours at work, and less vacation. I make a good bit less than you, and I wouldn't take the job...

 

[88keys]

There's all kinds of good raises, but all you're getting is money, and at this point, it's a mystery box. They might be a bunch of dickheads, or it could have bureaucracy that makes the goverment look streamlined. That five hours only covers your drive time, and doesn't include extra hours at work, and less vacation. I make a good bit less than you, and I wouldn't take the job...

I agree. The highest paying job I ever had was also the worst job I ever had because of this. Once I found my next job, I was gone. No notice, no nothing and I don't regret that decision in the slightest. I know plenty of people who make tons of money and are also miserable.

 

[Scarpozzi]

Don't be so sure you make a good bit less than me. Extra hours at work is the big unknown for me, but the work in the new job is more seasonal than my current one.

 

[Gunslinger08]

Are you happy with your life now? Have a desire for a change or opportunities you can't get at your current place? Money is important, but comfort and happiness are often undervalued in jobs. An extra 40 minutes in the car each day, 2.5+ hours more in the office a week, a loss of 1.5 weeks of vacation, a ~3% drop in net pay due to the retirement plan change, and being low man on the totem pole at the new place are all things to consider. Personally, I'm at a point in my life where I wouldn't leave for any of these trade offs. I make enough to enjoy my ample time off with family and friends.

 

[Scarpozzi]

Are you happy with your life now? Have a desire for a change or opportunities you can't get at your current place? Money is important, but comfort and happiness are often undervalued in jobs. An extra 40 minutes in the car each day, 2.5+ hours more in the office a week, a loss of 1.5 weeks of vacation, a ~3% drop in net pay due to the retirement plan change, and being low man on the totem pole at the new place are all things to consider. Personally, I'm at a point in my life where I wouldn't leave for any of these trade offs. I make enough to enjoy my ample time off with family and friends.

Things would be easier if I didn't have two kids in daycare. I just think about how working 4-5 years in the job making more cash would help me get ahead and holding this position for that long may open additional doors because the scope of responsibility could be considered greater than my current job. For what it's worth, I'm 25-32 years from retirement...

 

[purbeast0]

that's a tough one. i'm pretty similar to your current situation work time wise + pto, but i think for 35k more i would probably make the jump as long as the work was interesting and the company was good. although, the night meetings, that may be a deal killer for me.

but 35k/yr extra is a lot of chunk of change. but i'd just do the math to see what your current position is worth in dollars, including your PTO and retirement match (and insurance - you didnt mention that), and then do the same for the 2nd position, and see what the REAL value difference will be. also make sure to add the extra time * hourly rate into this equation. then maybe even do tax calculations to see what your actual real world take home would be at the new job compared to the current one. you may be surprised that it's not nearly as much as that 35k would seem.

i was looking at a position last summer that was 40k more than my current position, but it was me going from an awesome smaller sized company to one of the huge huge companies in the industry that is a world wide company. the PTO was 3 weeks (vs my 5 weeks), sometimes they required working over 40 hours a week (i currently work less than 40), i would have to pay a portion of my insurance which was like $500/mo (my company covers mine completely right now), their 401k wasn't as good, and a few other benefits.

i did the math and that 40k quickly dwindled. my take home would still have been a good amount more, but it was also in a higher cost of living area. after a lot of thought i turned it down.

 

[OverVolt]

I would work 60hrs/week where I'm happy but 20 hours goes agonizingly slow if I'm unhappy.

I'd take lower pay for a job that makes me happy hands down.

I agree with gunslinger08. Seriously... if you haven't experienced what a bad job is like you should be thankful but you are naive as to how important it is. Some jobs are open/pay high for a reason.

 

[OverVolt]

Things would be easier if I didn't have two kids in daycare. I just think about how working 4-5 years in the job making more cash would help me get ahead and holding this position for that long may open additional doors because the scope of responsibility could be considered greater than my current job. For what it's worth, I'm 25-32 years from retirement...

Which company is more financially sound a decade from now?

 

[nk215]

This is not the time to think about the job offer. You should concentrate on getting the offer first.

If you eventually get the offer be if it is 35k more, you should take that job as a stepping stone for the next one closer to home.

 

[OverVolt]

This is not the time to think about the job offer. You should concentrate on getting the offer first.

If you eventually get the offer be if it is 35k more, you should take that job as a stepping stone for the next one closer to home.

Spoken like someone who ends up in charge of a department thats falling apart .

 

[sdifox]

Remember 35k is pretax. After is probably 18k, you have to ask yourself if it is worth it.

 

[Subyman]

I may have missed it, but the 5hr/wk commute is only part of it. They also want you to work a full 40 hr week instead of 37.5, so its another 50% increase to 7.5hrs more per week + the 1.5wk/year in vacation loss. So we are looking at ~420 extra hours of work per year or about $60/hr before tax more work than you get now. If you kept your current job, would you take a second job working an extra 420 hours a year making $60 per hour? The intangible is the potential within the company though.

 

[Zeze]

If life has taught me anything, always get the ball in your court prior to taking action.

1. Go ace the interview and receive offer first.
2. Weigh both jobs carefully.
3. Use this leverage as a sincere way to ask for more money at your new job OR even ask for a raise in your current job.
4. Win win either way.

Best of luck.

 

[Imp]

5 hours a week for $35k increase sounds like a decent raise...but yeah...it's tough losing time.

The longer your commute, the more road to cover and people to encounter, the more shit that can go wrong like a traffic jam, commute, construction, etc.

Someone said it earlier though: it depends on your priorities. If you have kids, money may be the determining factor -- or you could not care like lots of parents. I had a job where I was essentially set for life, even if I phoned it in until retirement. But it wasn't going anywhere, I didn't want to be there, I didn't care about moving up, commute averaged 3 hours total daily, and I wanted to do something else. I stuck it out for years because I did a cost-benefit analysis, worried about the sunk cost including education and time.

 

[RichUK]

I have a great job. I work 10 mins from home, 37.5 hr work week, get ample time off, have lots of flexibility and have a great boss.

I have a contact that wanted me to apply for another position. The pay is a minimum of $25k/year increase, but could be more than $35k. I got an interview tomorrow. The job offers less retirement 5% match instead of 10% employer contrib(no match), less vacation (3.5 weeks instead of 5), and a 30 minute commute + 40 hr work week with some night meetings.

I'm trying to put a dollar value on the lost benefits and increased commute to see if the extra income is worth it. I'm taking the opportunity seriously, but know I'd be fortunate to have either job.

What would you do?

Surely that is simple enough for you to work out by yourself?

 

[PowerEngineer]

I may have missed it, but the 5hr/wk commute is only part of it. They also want you to work a full 40 hr week instead of 37.5, so its another 50% increase to 7.5hrs more per week + the 1.5wk/year in vacation loss. So we are looking at ~420 extra hours of work per year or about $60/hr before tax more work than you get now. If you kept your current job, would you take a second job working an extra 420 hours a year making $60 per hour? The intangible is the potential within the company though.

I also ran some numbers that put the pretax upside in the $50/hour to $75/hour for an added 400 hours of work and commute.

You should look to see if their less generous 401k provisions are a indicator that the rest of their employee benefits are a step down from what you have, particularly with kids (medical and pretax child care accounts).

I think it's a good idea to take the interview as good practice if nothing else, but I'm not sure they're offering you enough of a risk premium for gamble of leaving what you describe as a great work situation.

My two cents. Good luck whatever way you choose to go.

 

[JimmiG]

This is not the time to think about the job offer. You should concentrate on getting the offer first.

If you eventually get the offer be if it is 35k more, you should take that job as a stepping stone for the next one closer to home.

Yeah, if there's one thing I've learned from my job search, it's that interview != job. At the interview, you have to show them that you really want this job. If you're not sure, they'll be able to tell.

I'd stay where I was. Bill Gates doesn't have enough money to pay me for my time. As long as I was making bills, I'll take more time off/less driving every time.

Edit:
btw, seriously consider the drive time. That's five hours per week you aren't getting paid for. That's like taking a raise, but being told you have to clean toilets for the extra money, and it /only/ takes an extra hour per day.

A longer commute sucks, but 10 -> 30 minutes isn't so bad. My previous two commutes were 100 and 70 minutes respectively (one way). Now I'm on my third job with a 25 minute commute, which is just enough for my brain to relax and let go of "work thoughts" before I get home. The 3.5 vs 5 weeks vacation would be a bigger trade-down for me.

 

[edro]

You sound like you really like your position now.
I would not change.

My wife took a sales position at a new company that was a $40k raise.
She quite 3 months later and went back to her old company.
It was not worth the stress, extra hours and demanding boss.