20/20 Did I make the right choice?

[HotPotato]

Hi! I've been lurking here for almost a year and decided to finally make an account to ask for some advice. I recently applied, interviewed, and was offered a new position that I accepted. Here are the differences:
Salary: old job - 50k, new job- 55k (same bonus structure).
Health insurance: old- 170/mo, new- 380/mo.
401k match- old 5% salary, new- 2% salary (it's a flat amount).
Vacation: old- 4 weeks, new- 2 weeks (until I've been there 10 yrs).
Miles to work: old job- 30, new job- <5.

At the new job I'm working about an hour extra every day, shorter lunch plus longer hours, so there's almost no time saved. But gas save, I think I'd net to making the same amount. Plus I'd sell our second car, worth about $6,500, which would also reduce car insurance/ maintenance costs.

So, do you think I've made the right choice? There's something telling me I didn't, but I think it's just because the benefits at my new job are not as good, so I'm not focusing on the positives.

[MisterTwoForty]

Did you accept the job because it will lead to better future prospects?

If I look at the today vs tomorrow picture - I'd say you are netting less money for more work.

-Insurance is more, 401K match is less, vacation is less (did you try to negotiate this???)

You are making a little bit more per year, but you are working more hours to do it. 

[Her]

You're paying $2520 more for health insurance, and earning $1400 less in your 401(k). So that leaves you with a $1080 difference from your old job. With the longer days, you're probably making less per hour than you did at your old job. So it was at best a very lateral move income-wise.

There's other things to consider: does the new job offer opportunities for advancement? Do you like what you're doing more? There will also be savings in gas and car maintenance, though I don't know exactly how much. In this case I think whether or not it was the right decision comes down to whether or not you like the job itself more, since in money earned and time spent it seems pretty much equivalent.

[HotPotato]

This is the first move I've made in my career, my old job was right out of college, and I was miserable going in everyday. I was passed over for 3 promotions and then when I handed in my notice my boss told me he was "working on the paperwork" which I don't really believe. I've been in the new position about a month, so I still think it's too soon to say if I like the work more, as most of my time is spent training. When I was interviewing, they made it seem like there was room for advancement, but I'm seeing that isn't quite true now. I did try to negotiate for more time, I actually have to take 1 week unpaid this year for a preplanned vacation. I think a part of my issue is that I didn't know what type of questions to ask during the interview/ offer process, and now that I've left my old company I'm learning about benefit changes. Health insurance wasn't even mentioned in the offer

[Her]

Figuring out that kind of stuff right out of college is hard. I only did marginally better on the next job I took after my first, but luckily part of the interview was a sit-down with HR to go over the benefits in detail.

I think making a lateral move from a job that made you miserable to one that might not isn't a bad move to make at all. You'll learn more about how this one will work out with time, but it certainly doesn't sound worse.

[Greenroller]

I was in a similar situation and can honestly say I don't regret taking the new job. Living close to where you work is life changing and valued at much more than just a price.

[steviesterno]

i would argue going from a job you hate to a job you don't hate is worth more hours and a pay cut. my brother makes literally 3x a year what I do, but hates every minute. 2am calls, 6 days a week, probably getting an ulcer, etc.

all of my weekends are 3 day weekends I get 6 weeks vacation a year to go to a place I enjoy. that's actually worth $120k a year (to me) in this picture.

[boarder42]

I think you overlooked some of the most important things on the financial side when switching jobs.  which would be ok if you had assessed the position correctly and knew you'd like it etc. 

IMO it sounds like you moved on from a job not necessarily bc you hated but b/c you feel like you werent given the recognition you deserved. 

Some advice when you go looking again

Don't "leave" a job b/c you're unhappy,  you "move" to a new job b/c of the opportunity. 

[Jakejake]

When you say you're working an hour a day more at the new job, is that giving you the same basic amount of time away from home, when you balance out having less commute time?

[AZDude]

No sense in looking back now, just make the new job as good as possible. Hours usually decrease once you get the hang of things. People always act like there is an insurmountable amount of work everywhere you go, but in reality the people there waste half their day doing stupid shit and a competent person(like you!) can gets things done in much less time.

So hang in there. 6 months from now you will know if you made the right call.

[Bertram]

I was passed over for 3 promotions and then when I handed in my notice my boss told me he was "working on the paperwork" which I don't really believe.

And you shouldn't. At my old place this was the standard response that everybody (!) got when they quit and mentioned it was due to this.It's just a way to deflect responsibility. Truth is that they probably preferred you work the job you work, and receive the money you got.

It could be that your old boss just was not a very good boss, or it could be that you really were not able to successfully communicate to him why you could be more valuable to the company than others. Can't know for sure, but I'd still assume the worst and work on my skills to better communicate the value you bring in your work to your employer now, and the value you could bring if you got more responsibilities.

I've been in the new position about a month, so I still think it's too soon to say if I like the work more, as most of my time is spent training. When I was interviewing, they made it seem like there was room for advancement, but I'm seeing that isn't quite true now.

Again, this is quite normal. But you should not focus on what's happening on average, or what's likely. You're there anyhow, you might as well make the best out of it. Even if your achievements don't help you advance there, they will give you ammunition for future job interviews. It's important to stay motivated - if you let yourself fall back on "it doesn't matter anyhow..." other people including your boss will definitely notice, and this will ensure a sort of self-fulfilling prophecy.

Overall I think it's a good thing that you are noticing these things (sure, it would have been better to do before changing jobs, but better know than even later. Some people take 10 years to figure it out). I think there are some great career-/work oriented weblogs out there. Back then I really enjoyed reading http://www.askamanager.org and http://evilhrlady.org,  there were a couple more, but it's been too long. Anyway there's lots of ways to learn what's important in the professional world and to avoid falling into certain traps. I'd suggest reading such advice for a while (not in order to take it blindly, but just as food for thought), I think it can be really helpful early in your career; if for nothing else then to keep you motivated to get into a place that you're happy with (whether it is with changing jobs, or working on your assumptions and mindset).

[elaine amj]

it's good to figure these types of things out early in your career. On the good side, you figured out that it is possible to change jobs because you were unhappy. Changing jobs is the best way to climb up the ladder and get better wages. I read that the rule of thumb is to look for a 20-30% pay increase for it to be "worth it" to change jobs.

And yes, sometimes, the numbers don't always work well in 20/20. DH and I are really trying hard not to look at the numbers right now. He had a cushy, low stress, super easy job at his old place - had been there for 20 years. He got his Masters and started looking around. Landed his dream job in a community college 5 mins from our house with a 30% salary increase. Much more stress, longer working hours, stuck to the school calendar but we felt it would be worth it. A year later, the CDN dollar has dropped 30-40% and he is now making about the same as what he would have if he stayed at his old job in the US. For much, much more work and stress. *sigh*

On the other hand, he is positioning himself for future part-time work teaching online so when we FIRE, he can supplement our income by teaching online from wherever we travel. So, that's the silver lining :)

[HotPotato]

Thanks for the advice everyone. I'm starting to feel like I got a second wind in my motivation, and I actually registered for a certification exam last night! I think the first few weeks have been hard because I miss my old coworkers, plus learning about the big differences in health insurance and vacation time. Even though there might not be a lot of room for advancement at the new company, I'm learning something quite different from my last company, so that might fare me well if I decided to leave.

IMO it sounds like you moved on from a job not necessarily bc you hated but b/c you feel like you werent given the recognition you deserved. 

I think that hits the nail on the head. The one thing I did learn from my old job was how not to treat people. The first promotion I went for, I was "talked to" about going for it. In the interview my VP told me they had already decided they're giving it to another person, and they wanted me to apply so they felt like they had a choice. The greatest take away from that convo is how I will never treat someone, and I'm glad not to be playing his game.

When you say you're working an hour a day more at the new job, is that giving you the same basic amount of time away from home, when you balance out having less commute time?

I'm home about an 45 mins to an hour extra per day.