Author Topic: Jumping Ship  (Read 1314 times)

Bourbon

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Jumping Ship
« on: November 07, 2017, 04:54:14 PM »
Feel free to ask questions, cranking this out quickly between work and putting food on the table.

I've been ridiculously lucky with my current job, starting there on the ground floor(with a ridiculous raise, tripling my pay before I joined the company) and moving up the ranks over the past 7 years. I run a few accounts now, have a little more than a dozen reports, etc.   In the meantime, the company went from family owned, to private equity, to an IPO.  Started a family during this time, and was able to get out of the negative, put aside significant savings while maintaining some non-mustachian spending. Oh, and I have a huge case of imposter syndrome.

I've had no real movement for the past 3 years since getting my current position.  My direct boss has been coasting until he was ultimately pushed out.  Resources have gotten tighter and it's a fight to get new work through.  Emotionally I want to walk away from projects that don't feel worthwhile, management with other priorities and perhaps my own apathy.  I can see the companies direction shifting significantly, with a real focus on cost, reducing staff, etc.  In process with a reorg and getting a new boss, etc.

I'm in talks with a competitor where a few people have gone to in the past.  I'd essentially be starting over - the new guy at the job, with a need to prove myself and make some real changes/advancements.  Part of me fears that with all that is going on in my personal life, that I'm just not up for making the big effort to outshine and impress. It would come with a hefty raise, increased responsibilities, etc.  Commute increases(From 3 miles on surface streets to a whopping 10 miles of highway).  Company has already had significant growth, so missing out on being the old timer there for most of the growth.

Stay
  • Know how to do the job, with reduced effort
  • New benefits(increasing to 23 days PTO, 4 weeks Paternity
  • May be steady/reliable despite all the changes

Go
  • Salary Increase(+33.3% to Base, bonus increased from 50% of base to 60%)
  • Title Jump(To somewhere in VP land)
  • Increase in commute
  • Actually have to work for a living

dhc

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Re: Jumping Ship
« Reply #1 on: November 07, 2017, 06:04:27 PM »
Sounds to me like you want to make the jump, but you're a bit worried about having to prove yourself again. I say go for it. You wouldn't have been able to get where you are now if you didn't have the skills to prove it before, and you can do it again.


Now, if you'd rather just coast, that's a valid option. But you don't really sound like a coaster. If you'll be happier having a new challenge, proving yourself all over again (and with better pay to boot) might be just the ticket.

damyst

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Re: Jumping Ship
« Reply #2 on: November 07, 2017, 08:36:50 PM »
https://xkcd.com/1768/



This hits home for me, time and again.

JLee

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Re: Jumping Ship
« Reply #3 on: November 07, 2017, 09:16:02 PM »

formerlydivorcedmom

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Re: Jumping Ship
« Reply #4 on: November 08, 2017, 08:33:24 AM »
Benefits can be negotiated; I was able to negotiate increased vacation days when I switched jobs.  If the salary is high enough, you can also arrange to take a week or so of unpaid leave and still come out ahead (one of my colleagues does this).

How much longer do you plan to work before retirement?  If it's >5 years, think really hard about jumping, if not now, maybe in a year or so, when you feel more mentally ready to handle the challenges.  You don't want to become obsolete.

Have you looked at the true cost of switching jobs?  How much extra time will it take to commute (here, 10 miles of highway driving might be 45 or 60 minutes each way)?  If the job is more stressful, how much decompression time will you need when you get home?  Will you have to work increased hours, or just be busy during 40 hours?

I delayed a move from Megacorp1 because of personal stress; I moved on 2 years later when I was mentally ready.  I had been coasting, and in that timeframe I was on the verge of becoming obsolete.  I moved on from Megacorp2 six months after I realized nothing I did would ever change the toxic working environment, and the new skills I'd learned got me into a great company right away.  I found that in each of my moves I was back as a top performed in 6 months or so, because I have a compulsive need to fix inefficiencies, and I was happier because I wasn't killing my brain surfing the internet most of every day.

Bourbon

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Re: Jumping Ship
« Reply #5 on: November 08, 2017, 12:02:22 PM »
https://xkcd.com/1768/



This hits home for me, time and again.

Yes. This.

Yes! This has been in my head as well.

As much as I wish FI was in the next 5 years, realistically 10 is more realistic. Also we are expecting our 4th kiddo this summer.

For so long I've believed that my current role/position is an overcompensated blessing and any new position would mean a significant cut in salary.  Now I believe that my current role and the potential one are the only two.