Should I switch jobs? Tough decision...

[Mister T]

Job 1:
- been doing it two years and work 80-100 hours a week, and just got promoted
- not learning all that much anymore but given tons of responsibility
- alot of what I do on a daily basis is client work so its a lot of BS
- salary increases about 30-50% a year and currently make about 125K

Job 2:
- new opportunity that I can use skills learned in Job 1
- no BS work, most of actual work is high quality... opportunity to learn alot more stuff
- need to only work about 60 hours week
- salary increases are more like 10-30% a year and starting salary is about what job 1 currently pays

Want to switch to job 2 because I know I will like it better, but I can't get over the economics... I guess I could work Job 1 for a few more years then switch to job 2 just before I go insane.

For those that care, Job 1 is an investment banking.
Job 2 is a corporate development job at a large cap U.S. company

 

[spidey07]

Quality of life would make me not work more that much. 60 hours a week is even too much.

There's more to life than money and work. Choose the one that makes brings you joy.

I'd recommend a job that doesn't require you to work 60 hours a week. Something along the line of 40.

125K for a 80 hr/week job is 33 bucks an hour. Your working for cheap. 🙂

 

[tweakmm]

What use is all that money when you don't have any time to spend it?

 

[Cooljt1]

80-100 hours a week it too much. thats like minimum of 16 hours a day if 5 days a week working. if you want to have no life you can work that many hours but i think its nuts. even if i was making 125k i would never have time to use it

 

[Mister T]

Originally posted by: spidey07
Quality of life would make me not work more that much. 60 hours a week is even too much.

There's more to life than money and work. Choose the one that makes brings you joy.

I'd recommend a job that doesn't require you to work 60 hours a week. Something along the line of 40.

125K for a 80 hr/week job is 33 bucks an hour. Your working for cheap. 🙂

Well, I do feel underpaid for the amount of work I do 🙂

 

[PatboyX]

happiness = quality of life.
take the job that will satisfy you most.

 

[Mister T]

Originally posted by: PatboyX
happiness = quality of life.
take the job that will satisfy you most.

Problem is the job that will satisfy me most is retirement... I want to be sipping margaritas in the carribean on a yatch. So I fiugure the quickest way to get there is to work like a dog until I build up at least 5 million in net worth

 

[CTrain]

Originally posted by: spidey07
Quality of life would make me not work more that much. 60 hours a week is even too much.

There's more to life than money and work. Choose the one that makes brings you joy.

I'd recommend a job that doesn't require you to work 60 hours a week. Something along the line of 40.

125K for a 80 hr/week job is 33 bucks an hour. Your working for cheap. 🙂

Not even close to $33/hr.

Take 125,000/ 365 days.......thats $342 per day
Then take $342/day times 7 days......thats $2397 per week.

Heres the tricky part.....80hrs per week is equal to 100 regular hrs.
You figure that 40 of the 80hrs is OT hours which you get paid 1.5 times.....so 40 OT hrs = 60 regular hrs.

Finally take $2397 per week divide 100 hrs gives you $23.97 per hr.
Of course, everytime he works beyond 80hrs, his rate of pay lowers.
Then again, not many job will let you work 80hrs a week.

Basically you will get paid per hr more with the 2nd job.

 

[Workin']

There's more to life than money

That's what people with no money - or people with lots of money - always say 😀

It's the poor bastards in the middle that get confused.

 

[thraxes]

Originally posted by: Mister T

Originally posted by: PatboyX
happiness = quality of life.
take the job that will satisfy you most.

Problem is the job that will satisfy me most is retirement... I want to be sipping margaritas in the carribean on a yatch. So I fiugure the quickest way to get there is to work like a dog until I build up at least 5 million in net worth

And then die of a heart attack? Sorry but that logic escapes me.
I occasionaly do computer maintenance for a person who works in the financial business and have become good friends with him. Constantly commuting between London, Frankfurt & Tokyo. He works alot of hours and earns alot of money, Still he hasn't lost his focus: For his kids he works at home (thats where my computer network maintenance fits in) and is always there if his family needs him. He takes 2-3 week vacations with his family twice a year but still is on target to retire by the age of 50.

My point is that you have to balance quality of life and personal happiness with you ultimate goals. My friend has managed to do just that. He admits he could work much more than he does but he thinks its just not worth it. He wants to have time for his kids and his house and garden. Retirement has taken a back seat. He used to think like you and is now glad that he met his wife who forced him to slow down a bit.

So my personal vote goes for job Nr 2. I myself am not lazy when it comes to paid work but I value my free time and the pleasures that come with it.

 

[RU482]

Originally posted by: CTrain

Originally posted by: spidey07
Quality of life would make me not work more that much. 60 hours a week is even too much.

There's more to life than money and work. Choose the one that makes brings you joy.

I'd recommend a job that doesn't require you to work 60 hours a week. Something along the line of 40.

125K for a 80 hr/week job is 33 bucks an hour. Your working for cheap. 🙂

Not even close to $33/hr.

Take 125,000/ 365 days.......thats $342 per day
Then take $342/day times 7 days......thats $2397 per week.

Heres the tricky part.....80hrs per week is equal to 100 regular hrs.
You figure that 40 of the 80hrs is OT hours which you get paid 1.5 times.....so 40 OT hrs = 60 regular hrs.

Finally take $2397 per week divide 100 hrs gives you $23.97 per hr.
Of course, everytime he works beyond 80hrs, his rate of pay lowers.
Then again, not many job will let you work 80hrs a week.

Basically you will get paid per hr more with the 2nd job.

Please explain...why does his pay rate decrease after 80 hrs?

 

[AgaBoogaBoo]

Originally posted by: Workin'

There's more to life than money

That's what people with no money - or people with lots of money - always say 😀

It's the poor bastards in the middle that get confused.

LMAO! I'm thinking about making that a quote in my sig....

 

[AgaBoogaBoo]

Originally posted by: redly1

Originally posted by: CTrain

Originally posted by: spidey07
Quality of life would make me not work more that much. 60 hours a week is even too much.

There's more to life than money and work. Choose the one that makes brings you joy.

I'd recommend a job that doesn't require you to work 60 hours a week. Something along the line of 40.

125K for a 80 hr/week job is 33 bucks an hour. Your working for cheap. 🙂

Not even close to $33/hr.

Take 125,000/ 365 days.......thats $342 per day
Then take $342/day times 7 days......thats $2397 per week.

Heres the tricky part.....80hrs per week is equal to 100 regular hrs.
You figure that 40 of the 80hrs is OT hours which you get paid 1.5 times.....so 40 OT hrs = 60 regular hrs.

Finally take $2397 per week divide 100 hrs gives you $23.97 per hr.
Of course, everytime he works beyond 80hrs, his rate of pay lowers.
Then again, not many job will let you work 80hrs a week.

Basically you will get paid per hr more with the 2nd job.

Please explain...why does his pay rate decrease after 80 hrs?

I think he meant pay per hour because his salary is fixed by year, not by hours worked.

 

[CTrain]

Good point....I was assuming he was salaried.
For some reason, I always think people who makes over $50k are salaried...

Not true as my sister who is a phamarcist makes $36.40 per hr and it sure does look nice when she works OT.

 

[TheeeChosenOne]

Originally posted by: spidey07
Quality of life would make me not work more that much. 60 hours a week is even too much.

There's more to life than money and work. Choose the one that makes brings you joy.

I'd recommend a job that doesn't require you to work 60 hours a week. Something along the line of 40.

125K for a 80 hr/week job is 33 bucks an hour. Your working for cheap. 🙂

I had many I bank opportunities and I concur with the above.

The work is boring and you waste the BEST years of your young life in a vapid job with HUGE hours that when quantified ain't great at all.

The bosses are also sadistic. It really is a TERRIBLE environment to be in. But ignorant kids that don't know any better will give their right arm for such a waste due to their ignorance. Then the mid-life crisis hits HARD at 40 as they ask themselves WTF they wasted the past 20 years doing. (I've seen many divorces or no children for the female bankers)

I see resumes of MD's from top I-banks trying to get into the movie studio where I work. Ya ok! They don't know sh!t about movies but they assume they can make the jump. Ya right. LOL.

They should have made their move in their 20's not 40's for crissakes. It's not all about money. NEVER SHOULD BE. Ironically, people that bide their time in the initially low paying entertainment biz make substantially more than bankers after working it for 10 years.


In Europe, quality of life rules (6 weeks vacation, health care, huge # of holidays, 40 hrs/week @most). They are much happier and laid back over there. And have all the creature comforts any well-to-do American may want. The quality of their houses is envious to say the least. I'll take a brick/stone house any day over cheap cardboard construction any day.........but I digress 😉 ........