Author Topic: Is the new job worth it ? (ESPP value question)  (Read 747 times)


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Is the new job worth it ? (ESPP value question)
« on: March 02, 2018, 09:24:27 AM »
Hi All,

I am having trouble calculating if a new job for H is worth it. Hope some of the smart brains in this forum can help. We are moving from the West Coast (CA) to NJ for a better job, bigger house, lower cost of living, etc.

Current Job (CA)
Current gross salary: 196,000K
401K: 11%
ESPP: 15% (company stock is purchased at 15% discount of the market price of this amount)
Federal and state witholdings: 400$

Total take home pay varies every paycheck. On an average, a paycheck is $3570 (2 paychecks a month).

New Job (NJ):
Gross Salary: 196,000K

With the lower costs of living, I am trying to decide if we will be saving more per month if we contribute same to 401K?

No ESPP in new job.

How much value does ESPP provide in the current job? How much do I add to the current paycheck (ESPP profits + amount taken out every paycheck). My calculations give me a figure of 2K per month, which I think is way off.

Thank you!

Another tidbit that may add to the complexity: H's salary was increased to 206K just a couple of days ago, and we have not factored that increase in it yet. We are trying to see if the new company matches the previous salary. The new job provides better career growth in long-term.

« Last Edit: March 02, 2018, 09:44:40 AM by tryingtobehappy »


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Re: Is the new job worth it ? (ESPP value question)
« Reply #1 on: March 02, 2018, 10:25:24 AM »
Whatever you put in the ESPP, divide by 0.85 and that's roughly what you get for your ESPP withholding.


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Re: Is the new job worth it ? (ESPP value question)
« Reply #2 on: March 03, 2018, 09:30:28 AM »
Are you moving to North Jersey or South Jersey?  Are you aware of the property tax situation?  Do you have a job in California that you are giving up as well? 

South Jersey and Philly suburbs are affordable and have somewhat reasonable taxes.  Not sure how much lower COL you would have in North jersey, particularly anywhere in the NYC suburb radius which is pretty large.  You are likely looking at prop taxes over 12k a year on a 500k property. 

Not sure where in California you are coming from, but depending where it is and where in NJ you are moving to, this may or may not be a significant decrease in COL


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Re: Is the new job worth it ? (ESPP value question)
« Reply #3 on: March 03, 2018, 01:12:10 PM »
Money isn't everything.

Are you going to like the new job better than the one you have?  If you are like most people, you will be putting a third + of your life there.  You may be spending more time with the people you work with than your wife, kids or others.