I know this topic has been asked countless times on this forum, and the answer's eventually up to my preferences. But I'd appreciate some like-minded analysis that I know I can find in the Mustache forums ;)
Does my math make sense? Does it make sense to turn down this massive salary increase for my free time now?
Current job: Salary $80k, 4 weeks leave, 3 weeks sick leave, 10% retirement match.
Current Total value: ~$97k, 13 years to FIRE (valued sick leave at 50% because I don’t use it all)
Pending job: Salary ~$120k, 3 weeks leave, no retirement match
Pending Total value: ~$127k, 9 years to FIRE
Additional commute time: probably 30min / day = -$4800 (at current rate, $40/hr)
Additional working time: probably 1-2 hours/day = -$14400 (at current rate, $40/hr)
Adjusted: ~$107k
Other things:
Can telecommute occasionally from current job, can’t from pending (-10 days est., so ~$3200)
Now: Super-chill workday, positive environment; Pending: nice people but more stressful environment (+1 to stress level)
Have personal office and standing desk; cubes at pending (+1 to stress level)
Can eventually work 75% at current job (trading time now for longer FIRE). Unknown at pending.
Probably won't get a significant raise anytime soon at current job.
Savings rate already 30-50% (recent medical bills brought down to 30%)
Pending job provides stock options which *might* be worth something when the company is sold. Doubt it would be enough to affect my FIRE significantly. Startup looking to be bought by bigger company in next couple of years.
Difference = +$7k for more stress, or $30/day (not including taxes). But FIRE 4 years earlier. Although I would like the extra (real) money, I value my free time. I'm an avid skier and take martial arts classes, so I'd have less time to enjoy those hobbies (especially as my body ages). Right now I'm thinking the switch isn't worth it because my day-to-day going to work is great; I don't hate my job, yay! Wish I got paid more though. Thoughts?