Career Decision

[ChicagoGal]

I received a job offer that would almost double my salary, and I'm having a hard time evaluating what to do - appreciate your insights. I really value work life balance, now.

The work would be similar to what I current do, with some increased stress/accountability but overall hours would be close to full time (i.e. not an excess amount of work hours).

Currently I have a ton of flexibility and work life balance. I work from home. Elderly parents/family each take one day to help with my toddler, so we only have to pay for 2 days of daycare for him. I have to interrupt my work day to help with lifting/lunch prep, getting stuff from different levels of the house, etc.

We just went from 1 to 3 kids with unexpected twins, now 4 months. My husband is on leave til April.

Once April hits, our childcare expenses will go up. Daycare could be like $80k/year depending on how many days. With my current job, I think I could manage with a part time nanny for the twins, and keep things consistent for my toddler. We don't exactly know how our expenses will change for education as it depends if we stay in the city or move to the suburbs (which also brings more questions up, like how much our housing and other related expenses will change if we do move).

Basically we can't figure out what our number is that we will need for FIRE, but we do feel like we'll be able to stay afloat with our expenses even if we have the high end of daycare and education expenses.

I'm just thinking would a bigger salary eliminate concerns re: those education/daycare expenses? But would it bring more stress to my life having to figure out a new job, new people, etc., at a stage in my life where I have very limited excess time as it is in a job I've been in basically for 10 years. Is it better to coast for now, leverage work life balance and how I get to spend extra time with my littles, and hope things get better salary wise with my current job?

[Laura33]

I'm just thinking would a bigger salary eliminate concerns re: those education/daycare expenses? But would it bring more stress to my life having to figure out a new job, new people, etc., at a stage in my life where I have very limited excess time as it is in a job I've been in basically for 10 years. Is it better to coast for now, leverage work life balance and how I get to spend extra time with my littles, and hope things get better salary wise with my current job?

First, start by realizing that things are going to be changing anyway.  The grandparents cannot take all three, and at their age they will likely soon get to a point where they cannot take even one.  So you are looking at a major childcare change any way.  On the plus side, if you use daycare (or a full-time nanny -- why is that not on the list when the daycare alternative is $80K??), you will be relieved of the lunch-making and fetching/carrying and managing-stairs that you are doing now to support the grandparents.  So don't consider the daycare aspect as a change triggered by the new job; it's happening one way or another.

I also think you're underestimated the mental load associated with trying to juggle all of those various things -- different schedules every day, interrupting what you're doing to do lunches and errands and all that other stuff, etc.  A part-time nanny may cost less, but a full-time nanny or full-time daycare may actually free up some of that mental load that you're currently devoting to managing everything.  You focus on work-life balance, and yet you also say you have very little time or bandwidth for adjusting to something new.  That level of stress doesn't really sound like awesome work-life balance, you know?  A better-paid job with full-time childcare might actually not add to the overall stress level.

That last question -- coast and enjoy work-life balance or take a risk on more money -- is one only you can answer.  But whatever you do, don't make any decisions based on things that you hope (raises!) or fear (new responsibilities!) will happen.  Think it through, make the best decision you can now, and if that doesn't work, make a different one.