Hey fellow Mustachians!
I need to make a final decision about a new job today-the new potential employer needs the response. My wife and I (22 and 28) recently purchased a new home closer to family, as we need to help care for some sick older relatives. We close on the new house next week. It is definitely Mustachian, as it is only 1050 sq feet.
The problem is, this home is about 25.5 miles from my job. With that in mind I went out looking for a new job closer to home and found one a few weeks ago 9.5 miles from my home. This job is located right off a linear bike path that goes right by my house, so a bicycle commute would be possible. Apart from the distance, there are a lot of other considerations here:
My current job is practicing in internal medicine at a large hospital-associated Multispecialty Group and I pick up some time in their Urgent Care as well. I work M-F 8:30-5:00. I am paid hourly, $52/hr (base salary=109k/year), with anything over 40 hours being paid as 1.5x. Staying a little late at the office or not taking lunch adds up, as well as picking up a few hours here and there in the Urgent Care. Health Insurance for a $2600 deductible and $4000 out of pocket max for my wife and I costs $176 a month, and my employer provides STD and LTD for free, 200k of life insurance, along with 50% match on up to 6% of my contribution to 401k. I also get 184 hours of vacation along with 8 paid holidays, which adds up to 248 hours of time off per year (=$12,846 at $52/hr). They said I may be converted to salary in the future, but then Urgent Care will be paid at the per-diem rate of $85/hr.
The new job is at a smaller physician-owned Urgent Care center. They've offered me a salary of $120,000 a year (equivalent to $65/hour but no overtime pay) plus betweeen $2000 and $5000 a year productivity bonus, a $5000 one-time sign on bonus. Health insurance is a killer: to have my wife and I insured, along with paying for LTD out of pocket (they don't have STD), I'd have to pay $934/month. This provides a $5000 deductible and $12,000 out of pocket max yearly. (I could also cover just myself for $130/month and try to find outside coverage for my wife, or she may be getting a work from home position with Apple and could cover the insurance, but that isn't sure yet). Vacation time is 120 hours per year (@$65/hr=$7,894). Schedule is: One week 32 hours, the next 44 hours, averaging 38 hours a week. One week I would work Wednesday and Thursday from 8am to 8pm and Saturday from 9am-5pm. The next week I'd work Monday, Wednesday, Friday 8am-8pm then Saturday 9a-5pm. If patients walk in at 7:59 though, I have to see them so I could be potentially staying late without extra pay. Also, every other Saturday, I'd have to go to another Urgent Care site that is 25 miles from my home, so I need to take that into consideration. Long story short, 2 -12 hour shifts plus 8 hour shift on Saturday alternating with 3- 12 hour shifts and an 8 hour shift on Saturday (I'd have to work every Saturday but I'd have more weekdays off).
When subtracting health insurance from total salary for each job and adding in the value of vacation time, my current job actually pays $119,724 and the new one will pay $119,228 with a $2K bonus or $122,228 with a $5k bonus depending on productivity. Pretty similar if we consider days off counting as tangible money.
My concerns are: commute distance, schedule, time with family (whole days vs time in evening and weekends), and the health insurance.
Other details: I drive a manual 2013 Hyundai Accent hatchback. My wife works at a Marriott hotel about 9 miles away but is considering an Apple work from home position. She works 24 hours a week and does volunteer work as well.
So what say you Mustachians? After deliberating on this for a couple of weeks and stringing the potential new employer along with my indecisiveness, I need some real Mustachian advice to make my final decision.