Author Topic: Job Hopping for FIRE?  (Read 2450 times)

ryanht13

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Job Hopping for FIRE?
« on: February 09, 2016, 01:47:06 PM »
I am currently in my mid-twenties, almost 3 years out of college. My first job was a decent place to gain experience, but not a long-term career prospect. I stayed there for a year, but received an opportunity for a 50% pay bump to move to a highly regard sales role for a F500 company in another industry. I have been in this role for 18 months.

My current role requires a 30 minute commute to an industrial area with no good housing within close proximity. It will be a long time before I am qualified for a promotion at my current company due to the flat organizational structure.

I'm looking at two opportunities within my industry that would be another 30-50% pay bump- both are probably a small upward move. One would be a work-from-home setup. The other would require relocation to a large city, but could live within walking distance to work.

Breakdown:

Bachelor's degree

Entry-Level Sales Role- 1 year

(change industry)

District Sales Manager- 18 months

(possible options for 30%-50% pay increase- staying within industry)

*International Sales/Trading in a large city
*District Sales Manager (different product) wfh

I'm currently saving like crazy, but am limited to an extent by my current role. I want to find a way to earn/save more without sabotaging my long-term career prospects. Will this career move hurt me? I haven't been fired from any of my previous roles. I'm just an industrious guy who is always looking to parlay into a better situation. Any advice?

chemistk

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Re: Job Hopping for FIRE?
« Reply #1 on: February 09, 2016, 02:12:38 PM »
I'm not in sales, so I can't give you a definitive answer, but ultimately you need to decide what your long term priorities are. If you're not burning bridges by leaving your current company, then I would absolutely consider the move. And to which job you move? It depends on what you want to do. If your career is a means to an end, then the one that allows you the lowest cost of living at the highest salary would be the way to go.

As a generation, we millennials are seen to employers as ones who are prone to leaving an organization for another job, so it's not out of the norm to be making a switch like that. if you were on a career path that rewarded long tenures at one company, you might be looking at things differently. I had a friend who was successful in sales at 4 separate companies within a 3 year span.

mskyle

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Re: Job Hopping for FIRE?
« Reply #2 on: February 09, 2016, 02:19:10 PM »
It depends on your industry, but I would suggest trying to make your next job/company one where you can see yourself staying for at least two, preferably three or more years. Early in your career you have some leeway for taking short "starter" jobs, but as you get more established a lot of employers like to see someone who will stick with them for a little while.

Eric

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Re: Job Hopping for FIRE?
« Reply #3 on: February 09, 2016, 02:23:10 PM »
So the question is: "Should I switch jobs to earn 50% more?"

The answer is yes.  I'm surprised that even needed a second thought.  If moving jobs hurt your career, then you wouldn't have the opportunity to take a job making 50% more.

ryanht13

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Re: Job Hopping for FIRE?
« Reply #4 on: February 09, 2016, 02:36:15 PM »
Let me throw a wrench in conversation:

The international trading role would be 50% more, along with commission and a signing bonus. Because this company is heavily involved in import/export and trading physical commodities, they fly under the radar. Most of the companies involved in this activity like it this way. In other words, this isn't a brand name company like the one I currently work for. It is Austrian owned and most of the employees are European.

In my view, it's a risky move.

JLee

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Re: Job Hopping for FIRE?
« Reply #5 on: February 09, 2016, 02:42:02 PM »
Let me throw a wrench in conversation:

The international trading role would be 50% more, along with commission and a signing bonus. Because this company is heavily involved in import/export and trading physical commodities, they fly under the radar. Most of the companies involved in this activity like it this way. In other words, this isn't a brand name company like the one I currently work for. It is Austrian owned and most of the employees are European.

In my view, it's a risky move.

How long has the company been around?  Not being a household name doesn't really mean it's a risky situation - what other factors are there?

ryanht13

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Re: Job Hopping for FIRE?
« Reply #6 on: February 09, 2016, 02:49:31 PM »
A large Austrian manufacturer started the company in the mid-90's. That company has a strong reputation in the US. However, they have been selling their stake due to a lack of synergies. The buyer has been some European billionaire. They have trading offices all over the world. Think of it as a very small version of Cargill.

DebtFreeBy25

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Re: Job Hopping for FIRE?
« Reply #7 on: February 09, 2016, 03:56:17 PM »
In my experience job hopping is that only way significantly increase your salary. Even if you're promoted by your current employer, they know exactly what you're making now and would likely only offer you a set percentage as a raise. As long as you aren't changing jobs frequently enough that it becomes difficult to get interviews, I'd say you're okay.

Specifically on the Austrian company, there are no guarantees with any employer. How do you feel about them as a company? How do you feel about the specific people you would be working alongside? Do you think you would like this position less than, more than or about the same as your current role? If your value judgment places it as the same as or better than your current position and the pay is much better then you should definitely switch.

lhamo

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Re: Job Hopping for FIRE?
« Reply #8 on: February 09, 2016, 04:20:46 PM »
Would there be clearly measurable metrics with the Austrian-owned company?  And are you confident you could excel in the role?  If so, it doesn't seem like it matters much if the company is well known.  It is what you accomplished that will impress your next employer, not necessarily who you accomplished it for.  So being able to say things like "expanded account base from 15 assigned accounts at hire in FY 15 to 100 accounts in FY18" or "expanded market share from 10% to 40%" are going to be the compelling evidence that you are good at what you do, regardless of what you are selling or who you are selling it for.