Author Topic: How much is job security and stress free work worth?  (Read 7794 times)

powersln

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How much is job security and stress free work worth?
« on: January 20, 2013, 02:31:18 PM »
I'm a software developer with 3 years of experience making around $46,000 a year.   I absolutely love my job, have near zero stress, and work no longer than 40 hours a week.   The company also has never had layoffs (not that it's a guarantee to be the case if the future).  A recruiter reached out to me and wants me to interview for a job.   The job in question looks interesting and the pay will be at least $75,000 a year.

Considering that I'm comfortable where I'm at, is it worth the risk to jump ship?   I will have to pay $5,000 back to my current company for tuition reimbursement (working on master's degree), plus my employer contributions to my 401k are only 50% vested (so I might lose ~$1,000 there).

Skyn_Flynt

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Re: How much is job security and stress free work worth?
« Reply #1 on: January 20, 2013, 02:35:18 PM »
If you didn't write the second paragraph, I'd have said take the gamble and accept the offer. But I'm the kind of person that would feel some fidelity to an existing employer that helped me get an education.

I do understand a bit what you're saying. I really enjoyed my first job out of college. I knew it paid less than market rates. I left when I got burned out on it, and wanted to move to another place after about 4 years.
« Last Edit: January 20, 2013, 02:37:21 PM by Skyn_Flynt »

sol

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Re: How much is job security and stress free work worth?
« Reply #2 on: January 20, 2013, 02:38:45 PM »
For a chance to increase your income by such a large amount, I'd say take the chance.  Maybe the new job will also be awesome.  Or maybe you can leverage the offer into a raise from your current employer,

c

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Re: How much is job security and stress free work worth?
« Reply #3 on: January 20, 2013, 02:58:07 PM »
If it were me I'd take the chance. That's a big increase. How long will you have to stay at your current employer to get that salary?

Employers don't "pay" for your education as some kind of favor to you, they do it because it's in their best interests. If you are really worth that much another employer go for it. You are able to live within your current salary, so all the additional money will be over and above what you are saving now.

If you really like it where you are you can secure the job at the other place then see if your employer will do anything to come close to matching. Personally I feel that's a dangerous game to play, but if you are really that underpaid, you may have quite a  bit of wiggle room.

SunshineGirl

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Re: How much is job security and stress free work worth?
« Reply #4 on: January 20, 2013, 03:09:09 PM »
All you're doing at this point is interviewing - you are interviewing them, and they are interviewing you.

Go forward with that and report back what you learn - I'm sure more opinions will follow!

Wendyimhome

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Re: How much is job security and stress free work worth?
« Reply #5 on: January 20, 2013, 10:21:33 PM »
The piece that seems to be missing is how much job security and stress would the new job create?  Is there any reason to believe that it would be worse in either regard? 

I personally do place a premium on working for good people, so if you feel that is the case where you are, value it.  But I wouldn't value it THAT much. 

Also, don't just assume that the absence of layoffs in the past will never change.  I've never seen a business that wouldn't cut people lose if conditions necessitated.  Sort of a long way of saying don't overestimate the job security you currently have.

Phoebe

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Re: How much is job security and stress free work worth?
« Reply #6 on: January 20, 2013, 10:35:07 PM »
Interviews are a great way to learn.  After an interview you'll either feel better or worse about your current position and the more data points you have the better.

I agree with the above poster - report back after the interview and I'm sure we'll have more opinions to share!!

CDP45

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Re: How much is job security and stress free work worth?
« Reply #7 on: January 20, 2013, 11:30:48 PM »
Recruiters are vampires that only get paid if you switch, they don't care about you, your reputation in the industry, or if you're going to like the job. You need more information about the salary you're making now, is it competitive or not, by researching similar job postings, but more importantly talking with other people in your field.

Next, research the company by engaging your network and contacts. Don't got any? Start taking people out to lunch, or start messaging people over Facebook or LinkedIn.

You need advice dude, start reaching out.

strider3700

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Re: How much is job security and stress free work worth?
« Reply #8 on: January 20, 2013, 11:41:41 PM »
Do the interview even if you don't want the job.  It keeps you in practice and you'll learn a lot. 

I know of one guy who was a city worked and doing interviews with other cities just to stay brushed up on his interviewing skills.  One day he interviewed for a job that he wasn't overly interested in and at the end they asked him how much he'd want if he was to take the position.  He named an insane wage triple what he was currently making because he'd have to relocate, move the kids out of school.... This was his standard thanks but I don't really want the job move.   Next day he got the call asking how soon he could start.

marty998

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Re: How much is job security and stress free work worth?
« Reply #9 on: January 21, 2013, 12:17:30 AM »
Speaking as someone who got cut not once but twice during the GFC I can say that job security is worth much more than you'd imagine., but probably not in the order of turning down a $30k increase.

I'd take the money but I'd talk to my current boss first and ask if (a) there's any chance of a salary increase or (b) any chance of doing a different job at the same company that pays a bit higher. Even then I'd probably still take the money, because your current employer is taking advantage of your goodwill.

 

tooqk4u22

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Re: How much is job security and stress free work worth?
« Reply #10 on: January 21, 2013, 08:14:55 AM »
"How much is job security and stress free work worth?"

If you are still growing your stash then not worth that much, but if you stash is pretty well on its way then it is priceless. 

Like others said, interview because (1) it may be a good opportunity for more than just income and (2) it is good practice if something does happen to your job. 


smalllife

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Re: How much is job security and stress free work worth?
« Reply #11 on: January 21, 2013, 08:57:57 AM »
Go to the interview then talk with your current employer - if that 75k is for comparable work then you negotiate for a raise. 

Stress vs. higher pay is a personal decision.  I chose the lower pay less stress route and am perfectly content with my decision.  After our busy season I'm burnt out, I can't imagine living in a busy season all year round (definition of "busy season" = continual 50 hour work weeks of high stress.  I literally can't imagine how people do that week in week out.).  Will it take me longer to FI? Yes.  Will I enjoy the journey? Yes.

spider1204

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Re: How much is job security and stress free work worth?
« Reply #12 on: January 21, 2013, 09:24:25 AM »
I'd first question what makes you think have more job security where you're currently at, an employer will only keep you around if it's worth it to them.  The only job security you've got is to learn how to do things that people are willing to pay for, and do them at a cheaper than market rate.

It sounds like you're right there now due to being paid below market rate, they aren't gonna get software developers for much cheaper so they won't do layoffs unless they quit needing software.  It's up to you, but especially with the frugality skills you've surely got, I'd much rather take a higher income with a chance of losing my job or having to quit from high stress for a little while.  You'll be saving enough to take your time looking for another job.

Unless maybe you have a compelling reason to stay the same location, and there are only a small number of employers you can burn bridges with.

ellevendollarbill

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Re: How much is job security and stress free work worth?
« Reply #13 on: January 21, 2013, 12:55:23 PM »
I appreciate you posing this question to the group as I am in a similar situation, with very similar numbers.  I currently work for a non-profit that I've "grown up" in (first real job out of college) for the last 5 years.  I've increased my salary from ~$30k to ~$50k over that time period. Recruiter responded to a job application that I kind just threw out there and now I have an interview for what seems like a great fit position that pays between $60-$70K.
I'm doing the interview, but the wife and i sat down and ran the numbers - we realized that my break even salary offer for leaving my current job is something like $62k.  This is largely due to the need to buy a car and commute outside the city, whereas currently I bike 4 miles to work each way.  This epiphany has made the decision much easier for me.  I intend to kill the interview, negotiate a salary as close to $70k as possible and take that offer to my current employer.  Even if my boss can only offer me a few thousand more/year, I win because I get to stay where I'm at (i really do like my job), keep on biking to work, and avoid purchasing a car, plus I have the extra pay (which i was intending to negotiate for anyway, based on a couple of new contracts that we just won). My only concern is in figuring out how to approach my supervisor diplomatically, so that the end result is that I end up with more salary, but without compromising our relationship.
The car thing ends up simplifying things for me, but perhaps there's a similar variable in your situation that you haven't considered.  Even a slight increase in commuting distance can add up when you do it 250 days a year.

tooqk4u22

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Re: How much is job security and stress free work worth?
« Reply #14 on: January 21, 2013, 01:02:06 PM »
My only concern is in figuring out how to approach my supervisor diplomatically, so that the end result is that I end up with more salary, but without compromising our relationship.


I think your plan is good except I wouldn't approach your boss with the offer unless you are prepared for (1) your boss to say your best to take it  or (2) you can live without resentment if you don't get an increase. 

I would however ask your boss for a raise present the reasons why - years on job, contribution to team, prodcutivity, and then that your current salary is below market for similarly experienced people.