First post, but I should preface this with the knowledge that I have messed around with what feels like hundreds of online COL calculators. They all vary so much that it's hard to even trust their analysis. So here's some specifics.
Current Job:
Orange County, CA
Very stabile company and I have very comfortable job stability. I am considered a young "star" by executives. They value my opinion and I have a great deal of respect for them. It's a great job, and I love the work.
Base Salary = 88,000/year
Bonus = 10% annually but can be as high as 20%. Historically (I have been there 8 years) it has been between 12-15%
401k Plan they give an 8% match if I contribute at least 6% (I contribute way more than that). They offer all the great Vanguard funds.
Other benefits include High deductible health care plan with HSA, and they contribute $500/year to the HSA.
So for this job, assuming a 10% bonus (low end) and the 8% match, my true salary is just under 104k per year.
Potential Jobs:
There is a company in Nebraska (LCOL and where I am originally from) that would like me to come work for them. They asked me for salary requirements, but I have yet to tell them (I'm stalling as I want them to first make an offer).
My problem is that I need to be ready when that offer comes. If I have a calculated break-even point I can be more prepared.
The online calculators estimate that in general California is about 30% higher cost of living. But that is largely swayed by housing (which is about 200% higher in CA, and probably closer to 300% in Orange county). If I use the 30% value, that means my break even is around 72k.
The company is much younger, and more global (most employees are remote). It was in the Inc. 500 a few different times in the last few years. I need to learn more about their benefit package yet obviously.
When comparing the jobs, I would not move to Nebraska for equal pay. I just feel as if the company I am with has given me a lot over the years and has plans for me to do even more - plus I love the work.
I am looking for help from mustachians to see some different opinions. I'm not even sure I would move if they offered me equal pay (104k). That's crazy thought, right?
I don't necessarily care where I live. I mean Orange County is great, but I would move for the right job. I do care about the job itself a great deal. Thoughts? Anyone else love their job so much money isnt really a motivator?