Would you take a 19K raise for no vacation? 1 year contract job
Sorry for long post. Feel free to skip the additional info below and enter your own thoughts and opinions.
Background - DH was let go from dream job last year after (big huge successful) company was forced to stop operations in AZ. He only worked there for 6 months but it had everything you could want (great benefits, flexible schedule, engaging work, right amount of travel). Only issue was that the pay wasn't excellent at 50K, but we were A-OK with that because of the unlimited PTO(!) and other amazing perks.
Current job - DH took another job a month after being let go for less pay and a lower title/less responsibility. Decent company with meh benefits. He had to strongly negotiate for 48K. Strongly dislikes the actual work he does (it is below his skills and aptitude) but really loves his coworkers. Low stress job overall. The company mislead him to believe that he could easily move up in a short amount of time at the company. Quickly found out that you cannot be promoted until at least 1 year with company. He has been there 6 months and they wont even allow him to interview for the position that has had 3 openings in his time there. (Open position is same work at previous company and exactly in DH capabilities). Not only that, if he were to get the new position he cannot receive more that a 10% raise (and I highly doubt they would even do that much). Let's say for arguments sake in 6 months, if he got the new job, he would be making 52K.
New Offer - As I said, DH had DREAM JOB last year and misses it oh so much. A contract agency reached out to him for the same type of job at a competing company. Both companies are big and wonderful companies to work for, though this one may actually be better than old company (more established, less controversy, better policies/practices). He wouldn't be working directly for new company, but for the contracting firm. It is a one-year contract but the interviewers at the new company said most contractors (>90%) are hired on directly after their contract expires. Therefore there is a good chance that this time next year, DH could be working directly for new fabulous company at much higher salary with amazing benefits.
Dilemma - Contracting agency is offering (32/hr) 67K plus time and a half of over time (48/hr). Poor benefits, expensive medical, no 401K match. ZERO PTO for first 6 months and then only 6 holidays after that. I assume there is required sick PTO because of federal law but they said nothing of other vacation of personal PTO. The work hours should be flexible but min 40/hr per week required.
Our decision - We have made a decision but I wanted to get this community's opinions on this situation. We decided DH would take the new job for the following reasons 1) Savings rate in 2018 was not our best (too much travel). New salary could help us achieve our 2019 goals AND make up for 2018 shortfall. 2)This is his only opportunity to get in with new amazing stellar company. It isn't 100% that he will get hired on after, but we would likely regret passing up opportunity. 3) We took too many vacations last year so we need to buckle down anyway and start saving for adoption and genetic offspring (flexible plan to start trying for baby in Summer 2020, and would like to adopt by 2023[$$] ) 4) DH was out of the workforce for school and has been unable to regain his salary from the military which was ~55K five years ago. This is a big chance to get him to (and above) the salary he should be making (which I estimate to be around 62K)
I'm afraid because - 1) We cherish our vacation time above all else. We usually do one big (2 week) and ~3 long weekend (3-4 days) vacations per year. (Please resist face punches. We do these cheap with travel points, budgeting, planning, etc. I am comfortable with amount spent on travel, excluding last year where we double our travel because job changes/special circumstances). DH says he can go a year without a vacay but I know him and he will be a stress ball around month five. 2) If DH isn't offered a permanent position with new fab company, he will be on the hunt again looking for job #4 in two years. And we may be forced again to accept a meh offer just so he can start working 3) DH could be trading a low stress (albeit unfulfilling job) for a high stress/risky high paying job. 4) We may be opening ourselves up to lifestyle inflation. We are DINK household and could meet our 2019 goals if we just don't repeat last year's vacation craziness. I have noticed that our savings rate was actually much better when we made less. Possibility this raise hurt us more than help us. #Firstworldproblems