Job offer - Take it or Stay in current spot?! Advice needed...

[cbr shadow]

I’m considering a job offer that I’ve received today and would like some opinions on what I should do..
First a little about myself..
-   Live in a suburb of Chicago where there’s a good job market
-   Industrial Technology Degree (3D modeling emphasis) from state school
-             Roughly 5 years experience in 3D modeling/drafting. (Took my time getting through college, changing majors, etc).
-   Just turned 30, wife is 30
-   No debt except for mortgage, Owe $194k @ 3.75% in a 15-yr loan
-   Combined income = ~$175k currently.  Wife = $125k, Me = $49.5k
-   No kids, no plans for kids.
-   Maxing 401k’s and RothIRA’s

GOALS: Our goal is to save as much as possible to go into “Semi retirement” when the house is paid off (14 yrs from now).  Currently saving about 50-60% of income.

So here are my options for jobs right now.



CURRENT JOB: $49,500 + Bonus
Title: Product Design Eng.

Bonus: 3% possible annual bonus, normally 2-3%.  Based on company profits

Vacation: Started with 1 week for the first year, got 2 weeks my second year and now I’ve been here 3 years.  I get 3 weeks at 5 years.

CONS:  Been here 3 years now, consistently getting 3% raises yearly, but no real room to make more than that or get promotion anytime soon.  MIGHT be able to switch to another department for more mobility, but not likely soon.

PROS: Freedom and no micromanaging.  Pretty good office culture.  Big public company with good amount of security.
The biggest “PRO” is that for the last year we’ve been implementing and using new BIM software (Revit) that is interesting and I think BIM will be good to know in the future.
The benefit to staying would be to continue learning BIM software and then in a year or 2 find a higher paying BIM job.  Also there’s obviously some discomfort in starting at a new job, training, etc.  I’m willing to go through all of those things of course, but it’s still something to consider.




NEW OFFER: $55k + (larger)Bonus
Title: CAD/CAM Designer

Bonus: 15% possible annual bonus based on personal performance

Vacation: 1 week the first year (ouch!), 2 weeks from year 2-4, then 3 weeks after that.

Benefits: Medical dental 401k all the same as my current job (Both even use Vanguard).  Also there is a “profit sharing” where (on top of the normal company match) the company puts a lump sum into your retirement account based on company profits.

CONS:  Less “privacy” since my desk would be in a small room with 2 other designers and our manager and backs facing eachother.   Job doesn’t use BIM modeling, so maybe less new learning to put on resume for the future. 

PROS:  Good pay increase!   The company is a private company and seems to have good office culture, lots of people have been there 20+ years.  Only 4% turnover rate and average employee stays 14 years.  Company seems to be growing (slowly, but growing).  Seems like everyone is happy at this office.  Hours are flexible as far as being able to come in super early and get out early, or come in late and leave late.

The company first offered $53k (plus benefits/bonus) and I countered with $61k.  They got back to me today with $55k.  I’ve read that I should consider this offer their “final offer” since more negotiation could put them out.  I’d really like to negotiate the vacation time upward though, since my wife gets 5 weeks and my vacation time is always the bottleneck on our travels.
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Would you stay with the current job or make the switch for more money?
Assuming I got the full bonus at both places we’re talking about $50,985 for current job, $63,250 for new job offer.


Thanks for any input!
-CBR

[gimp]

Take it.

Three years at your first job. No real room for advancement. It's definitely time to move on to better things.

[cbr shadow]

Long post, but anyone else get through it and have any thoughts? :)

[engineerjourney]

Take it!  Try to negotiate more vacation but if you can't, see what their policy is on taking unpaid vacation.  That could get you through the next couple years and with the $$ bump you should still make more than the other job?  Also maybe see if they have a flexible work schedule where you can take off a Friday as long as you work 40 that week (like 4 tens).  Good luck!!   

[chasesfish]

I would take the job if you can get them to three weeks of vacation. In my opinion, five years of experience equals 3 weeks of vacation, 10 years equals at least four.

You live in Illinois as DINKs and your wife makes six figures, you only net 6k/year from the increase and your already saving 50%.  I would negotiate time, tell them you want the job, but have five years of experience and want them to consider starting you with three weeks, which you would haven if your five years was with that company.

We're 31 w/o kids and each get four weeks and we don't think that's enough.

[cbr shadow]

Well, it didn't work, unfortunately...
I called today and said I'd accept the pay but would like 3 weeks of vacation instead of the 1 week.  They said no, so I declined the offer.  The vacation situation there was worse that I originally thought - it's (2) weeks for the second year, but none the first!  You are allowed to take vacation from the second year after 6 months, so it's essentially 1 week of vacation for each of the first 2 years.  Yikes.
Still keeping my options open for other opportunities though.

[randymarsh]

Sorry to hear it didn't work out! I hate that US companies are so stingy when it comes to vacation time.

[mm1970]

Negotiate for a second week in lieu of the $6k you didn't get.

[mm1970]

Not all companies are stingy, but some have blanket policies.  Ours spells out your vacay vs. years of experience when you start. The most you start with is 3 wks, the most you can earn is 4 wks.

[olivia]

Well, it didn't work, unfortunately...
I called today and said I'd accept the pay but would like 3 weeks of vacation instead of the 1 week.  They said no, so I declined the offer.  The vacation situation there was worse that I originally thought - it's (2) weeks for the second year, but none the first!  You are allowed to take vacation from the second year after 6 months, so it's essentially 1 week of vacation for each of the first 2 years.  Yikes.
Still keeping my options open for other opportunities though.

Good for you! 1 week each year for the first 2 years is nuts!