Take a chance or stick around?

[Shade00]

Hey guys, wife and I are trying to make some decisions.

I am a young lawyer, practicing about 5 years now, and work for a large law firm in a mid-size southern city. We are not even close to a top market, but my pay is very good for the location, especially because COL is pretty low here. EDITED TO ADD ADDITIONAL INFO: Early 30s, wife late 20s; no kids and no desire to have any; two small dogs, one cat.

Wife and I have family in Nashville and have wanted to move there for some time. An opportunity may be available with my current firm. While Nashville's COL is slightly higher than where I am currently, that would easily be offset by a pay increase and no state income tax.

Obviously the unknown and moving 500+ miles away can be scary propositions. But I have a couple of hangups that are preventing me from jumping in headfirst. First, while nothing is guaranteed here, I am very likely to make partner my first year up where I am currently, which means a bump to $180k salary + excellent additional benefits in early 2018. Given that I would be starting over to some degree with a new group in Nashville, I would not necessarily make partner my first year up if I were there, meaning I would be somewhere around $150k + current benefits. Over the next three years, the additional base salary I could make at the firm based on the difference in office pay scales would total about $32k in Nashville, as attorneys make more in that office.

Second, I do not intend to switch firms or leave private practice until I am ready to RE or go part-time in-house somewhere, so I am concerned about maintaining a good relationship with management. I have the support of everyone currently. The problem with making such a switch right now is that about three months ago I was offered a position at another local firm. After running the numbers, guaranteed bonuses would have put me ahead at the other firm. I approached my current firm and got some additional money here, which they were happy to do. I do not want to raise a fuss or raise any hackles. I am concerned about the impression this might make.

Climate here is sub-tropical, almost tropical, and is extraordinarily humid and unpredictable year-round. Last week we had temps in the 70s. Today it's below freezing. I lived further north in the same state for my entire life and there is a dramatic difference in climate consistency, which wreaks havoc on my sinuses and overall mood. So, I prefer some consistency and love the beauty of Tennessee's geography.

It should also be noted that Wife and I have lots of student loans that we are aggressively digging into. Having found MMM last year, our budget has been slashed and I am continuing to push her into the MMM lifestyle so we can FIRE. She is on board but some changes take time. The biggest change is getting her on board with selling our too-large house. We bought several years ago in a good area and got a good deal on the home; but we have FAR too much space (2500 sq ft) - even if my wife does adore having her own studio in the house. House is too big, meaning utility bills are also too high. But the real kicker is that the damn house has a pool - so I am saddled with higher home insurance payments AND the additional maintenance costs of the pool. On the plus side, the area's housing market is growing well, and I suspect that if we sell, we could net $50-60k, which would take a big chunk out of our loans. Moving to Nashville would require us to sell; if we don't move, it's going to be quite a chore to get her on board with selling here.

Another wrinkle is that Wife wants to get a graduate degree so she can teach at the college level in her field. I am supportive of her since she supported me in law school. There are ways for her to do that if she wants to should we move to Nashville. Not so much here. And if she wants to continue teaching high school, she can do so there.

I do not expect there would be substantial costs associated with the move. I have been eliminating much of my "stuff" at home, and my firm would pay most (if not all) moving expenses. We also have a place to stay there until we find a suitable rental.

In short, Nashville is where we want to be. We have no connection to our current city other than our jobs. We have no family here. I love the work I get to do here and will be practicing in the same area in Nashville, although I don't know the partners there as well. I really like my boss here and will feel guilty leaving this office. But I would be taking somewhat of a risk with my career advancement with such a move. Not necessarily a big risk as I am not guaranteed to make partner my first year here either.

What would you do? Take a leap and make the move?

[SunshineGirl]

The only confusing part of your post is how long you've been with your current firm. One year, or the five you've been practicing law?

To me, this is an easy decision. If you want to be in Nashville and your present company can even help get you there, sooner rather than later is when the move should be made. 

[Shade00]

The only confusing part of your post is how long you've been with your current firm. One year, or the five you've been practicing law?

To me, this is an easy decision. If you want to be in Nashville and your present company can even help get you there, sooner rather than later is when the move should be made.

Been with them for almost 4 years. I was with a small firm for a short while before that.

If we stick around where we are now, it is unlikely we will be able to move until we are either ready to RE or I am ready to move out of private practice. That could mean another 9-10 years here.

I appreciate your thoughts. My heart is telling me to go to Nashville, but my head can't let it be that easy.

[DoubleDown]

I am not a lawyer, so I don't have any specific advice on the profession to offer.

It sounds like there is no wrong choice, either way you're in a good position. So, at least recognize that you can't really go wrong.

The decision on whether to move or stay of course is highly individualized and personal. It's impossible for those of us on the outside to weigh the value, for example, of your wife's desire to go to graduate school in Tenn., or how having family nearby will factor in.

But, everything else being equal, here's what I would do: Stay until you make partner at your current firm. I may be wrong, but I feel like that would be a significant milestone that would provide lasting benefits in any future move or even changing firms locally (or striking out on your own). You can carry the increase in pay and stature wherever you go, including Nashville. You could set a time limit on this goal so that your wife and other factors aren't left hanging forever -- say, if you don't get it this year, then the next year will be the final opportunity to see if it happens.

If this advice doesn't sit well, and if it helps, here's a technique you can try out to help decision-making in general, particularly when you're dealing with two positive choices like in your situation: Imagine you've made Choice A. See how that sits with you. Are you wishing you had chosen B instead? Now do the same thing choosing Choice B, and see if you're regretting it. Whichever choice leaves you feeling less uneasy, go with that one. It's a way of looking at the negative aspects of the choices to help drive your decision and relying on your intuition of what you really think is best.

[Shade00]

I am not a lawyer, so I don't have any specific advice on the profession to offer.

It sounds like there is no wrong choice, either way you're in a good position. So, at least recognize that you can't really go wrong.

The decision on whether to move or stay of course is highly individualized and personal. It's impossible for those of us on the outside to weigh the value, for example, of your wife's desire to go to graduate school in Tenn., or how having family nearby will factor in.

But, everything else being equal, here's what I would do: Stay until you make partner at your current firm. I may be wrong, but I feel like that would be a significant milestone that would provide lasting benefits in any future move or even changing firms locally (or striking out on your own). You can carry the increase in pay and stature wherever you go, including Nashville. You could set a time limit on this goal so that your wife and other factors aren't left hanging forever -- say, if you don't get it this year, then the next year will be the final opportunity to see if it happens.

If this advice doesn't sit well, and if it helps, here's a technique you can try out to help decision-making in general, particularly when you're dealing with two positive choices like in your situation: Imagine you've made Choice A. See how that sits with you. Are you wishing you had chosen B instead? Now do the same thing choosing Choice B, and see if you're regretting it. Whichever choice leaves you feeling less uneasy, go with that one. It's a way of looking at the negative aspects of the choices to help drive your decision and relying on your intuition of what you really think is best.

You are right - I am fortunate to be in a position where there really is no wrong choice - it's just an issue of figuring out which one is better right now.

I appreciate your suggestion on the exercise. I will put some thought into this. The one note I would add on your suggestion of staying until I make partner is that, given the way the profession operates, it is difficult to transition to a new market at the partner level. Lawyers are always hungry for work, and other partners may not want to share it due to either compensation or rate issues. In a new market, you have no connections to get business, so there would likely be some difficulty in the transition later on. So unfortunately, transitioning as a partner is actually likely more difficult than as an associate.