Hello everyone,
I'm facing a major life decision and thought I'd seek out advice from a group of Internet strangers. :) Just kidding, I really do value the opinions of other MMM readers trying to live their lives in better ways.
Bottom line up front: I had job offer fall in my lap last week from a very large company 10 minutes from home. At the same time, I was offered a (very nice) promotion at my current job, a job which involves a 1.5hr door-to-door commute. I''ll need to pick one by Monday and I'm struggling to see the best choice.
The details: I'm 38, married, kids age 8 and 10. I really enjoy my current job. I've been there for 2.5 years and I've been responsible for a lot of the growth, development, and hiring of the staff. I really like my team and the people I work with, too. The 1.5hr commute is done by bike (to the train station), a long-ass train ride, then a 1/2 mile walk to my office, so no cars involved. However, 3hrs per day takes its toll and really wears me out. I have little free time at home with my family during the week. A typical day is up at 4am and back home around 6:30p. The promotion is a senior management role that I've been working for over the past couple years and is part of my overall career goal plans.
The new job is 5 miles away from home which would be a laughably easy bike ride. I would no longer pay $2550/year on a train pass. I could leave the house at 7:30a and be home by 5:30p without any problem, plus get my running done in the morning without the need for a 4am wake-up call. The job itself is a bit of a lateral move taking me in a direction I didn't really want to go. (The core job is doing what I've done successfully for the past 7 years.) I'd be pushing a "reset" button in many ways, especially when it comes to professional relationships, title and promotion - I'd be looking at another 2-3 years before I'd be eligible for that at the new job.
Pay and benefits are pretty close: base salary is 5k higher with the promotion, but the newer job has better health insurance. Current job also has potential for a large yearly bonus (up to 11%) and stocks from an ESOP, but there's no guarantee I'd receive those if the company performs poorly. Overall earning potential is probably higher at the current job.
The big questions: How much is all this worth from a quality-of-life perspective? Does it make sense to stick with the current job, make more money, and ultimately retire sooner? (I've got an aggressive FI plan of 5-7 years.) Do I risk the unknowns of a new job, humble myself a bit, and put my career aspirations on hold to reclaim my time?
I'd definitely love to hear what others think of this, especially if you've found yourself in a similar situation.
Many thanks,