Longer Commute for more money?

[smisk]

Definitely putting the cart ahead of the horse here as I haven't even gotten an offer yet (my interview is tomorrow) but based on early conversations it seems like I'm a good fit. Basically everything about about this new job seems better including the money (could probably make 10-15k more from my current 60k).
Except.. the commute. Currently it's about 10 miles against traffic, about 25 minutes. New job would be 17 and I'd have to take a $1 toll road each way, guessing it'd be 35-40 minutes usually. I know it's not a huge increase but driving is one of my least favorite things and I hate doing it more than necessary. Also really don't want to move, currently have a good roommate in a fairly affordable location, live within biking distance of the gym and some stores, plus my girlfriend is 3 miles away. Ideally I'd like to live in a dense city where I can bike/walk everywhere but I dunno if that'll be possible for a few years.
As far as FIRE, I'm not as serious as a lot of you guys. I try to be frugal but I know there are a lot of areas I could do better. Currently shooting for retiring by 40 (26 now) and it would definitely help to increase my salary. Anyway, I'm sure this question has been posted tons of times before, but if anyone has made a similar career move or has other advice I'd appreciate it!

[Malaysia41]

Is there a public transport option?

I suggest trying out bus or train. Nice thing is that you can read. And your CO2 emissions would be minimal. Even if it’s 10 min added vs car - reading a book, or doing some work during the part of the day you usually hate - it may make your day brighter.

[smisk]

Is there a public transport option?

Theoretically yes, but I'd have to take a bus, two metro lines, and another bus. The whole trip would be over 2 hours so it's not really an option unfortunately.
For whatever reason there's no direct bus/train from my location.

[Lady SA]

any possibility of forming a carpool? Same benefits as public transport but you can share the costs of commuting with coworkers.

[Britan]

An oldie but a goodie:The Ture Cost If Car Commuting
 http://www.mrmoneymustache.com/2011/10/06/the-true-cost-of-commuting/

Rule of thumb: “each mile you live from work steals $795 per year from you in commuting costs.

$795 per year will pay the interest on $15,900 of house borrowed at a 5% interest rate.

In other words, a logical person should be willing to pay about $15,900 more for a house that is one mile closer to work, and $477,000 more for a house that is 30 miles closer to work. For a double-commuting couple, these numbers are $31,800 and $954,000.”


But... that being said I’m the worst poster child of this. And it doesn’t directly address pay, only housing costs. How much would each mile of commuting be worth in pay?

Thats a question I haven’t got an answer to yet myself. I’m in a similar, but opposite boat. I’m paid 80k now to work with super awesome coworkers and bosses for a great, family friendly, flex schedule allowing company who provides regular raises and bonuses and opportunities for training and advancement. 45 min-1.5 hours away, *each way* depending on traffic. I’ve gotten several offers 1-4 miles from home but the best I’ve been offered was 50-60k, worse benefits, no flex or work from home time, for a company I’ve been at before and know is a dead end and treats employees as expendable.

If anyone can figure out how to do the math on how much pay cut a mile commuting is worth, I’m dying to know too. That might be part of my procrastination time today. I’ll post if I figure anything out.

Though I don’t know if you can put a dollar value on a good boss...lol

[Linea_Norway]

<...>
Thats a question I haven’t got an answer to yet myself. I’m in a similar, but opposite boat. I’m paid 80k now to work with super awesome coworkers and bosses for a great, family friendly, flex schedule allowing company who provides regular raises and bonuses and opportunities for training and advancement. 45 min-1.5 hours away, *each way* depending on traffic. I’ve gotten several offers 1-4 miles from home but the best I’ve been offered was 50-60k, worse benefits, no flex or work from home time, for a company I’ve been at before and know is a dead end and treats employees as expendable.

If anyone can figure out how to do the math on how much pay cut a mile commuting is worth, I’m dying to know too. That might be part of my procrastination time today. I’ll post if I figure anything out.

Though I don’t know if you can put a dollar value on a good boss...lol

It sounds like you have a good job that is worth holding on to. What are your arguments for not moving closer to your current work?

[Britan]

<...>
Thats a question I haven’t got an answer to yet myself. I’m in a similar, but opposite boat. I’m paid 80k now to work with super awesome coworkers and bosses for a great, family friendly, flex schedule allowing company who provides regular raises and bonuses and opportunities for training and advancement. 45 min-1.5 hours away, *each way* depending on traffic. I’ve gotten several offers 1-4 miles from home but the best I’ve been offered was 50-60k, worse benefits, no flex or work from home time, for a company I’ve been at before and know is a dead end and treats employees as expendable.

If anyone can figure out how to do the math on how much pay cut a mile commuting is worth, I’m dying to know too. That might be part of my procrastination time today. I’ll post if I figure anything out.

Though I don’t know if you can put a dollar value on a good boss...lol

It sounds like you have a good job that is worth holding on to. What are your arguments for not moving closer to your current work?

Hubby bikes to work from here, and the reverse commute is even worse plus he would have to pay ~$150/mo for parking at his location in addition to the tolls :s

The area where I work is suburbia. Hard to go anywhere from there without a car. Home now is walking distance to just about everything BUT my work. Groceries, friends, church, volunteer stuff, dogpark, even some halfway decent schools (no kids yet). Just my work. And if we want to pay off student loans this aggressively, I’ve got to keep the job. ):

In my perect world, my company opens an office in that empty office space a mile from my house but alas.

[Britan]

Ok so my back of the napkin math with my own costs is:

80k, 26.5 miles away
——————————-
53 miles round trip @ 30 mpg @ $2.30/gal = $4.06/day

Work from home 1 day/ week, with 8 holidays, 4 weeks (20 days) of vacation, and 5 sick days, 52 weeks in a year = 226 commuting trips per year
So $918.31 in fuel costs per year.
With each mile further from home costing $34.56/year in fuel.

My fixed(ish) costs (insurance, maintenance, license, registration, testing) come out to $2024 per year.
Those wouldn’t get subtracted out with a shorter commute. They might go lower, but without going car free those costs are always there.

One thing I can’t figure out how to account for is the “lost time” in commuting. MMM uses your wage * hourly rate to calculate this but 1) if you take a pay cut, you hourly rate changes and 2) I’m not finding a job that will pay my hourly rate for 8 hours per week those don’t really exist. >_>

But without factoring that in, the cost of and additional 7 miles is ~$250 per year. Throw in a little more maintenance, higher insurance, maybe $300? But that’s so different I feel like I’m missing something.

[marielle]

If you get the new offer, can you use that to leverage asking for a raise at the current job?

[Britan]

If you get the new offer, can you use that to leverage asking for a raise at the current job?

This is probably your best bet, (Assuming the money is the only thing you’re unhappy with at current job.) to keep a shortish commute and get higher pay. Best of both worlds!
A lot of places won’t give real raises until you threaten to leave, when suddenly a 10-20% raise magically materializes.

[LightStache]

Ok so my back of the napkin math with my own costs is:

80k, 26.5 miles away
——————————-
53 miles round trip @ 30 mpg @ $2.30/gal = $4.06/day

Work from home 1 day/ week, with 8 holidays, 4 weeks (20 days) of vacation, and 5 sick days, 52 weeks in a year = 226 commuting trips per year
So $918.31 in fuel costs per year.
With each mile further from home costing $34.56/year in fuel.

My fixed(ish) costs (insurance, maintenance, license, registration, testing) come out to $2024 per year.
Those wouldn’t get subtracted out with a shorter commute. They might go lower, but without going car free those costs are always there.

One thing I can’t figure out how to account for is the “lost time” in commuting. MMM uses your wage * hourly rate to calculate this but 1) if you take a pay cut, you hourly rate changes and 2) I’m not finding a job that will pay my hourly rate for 8 hours per week those don’t really exist. >_>

But without factoring that in, the cost of and additional 7 miles is ~$250 per year. Throw in a little more maintenance, higher insurance, maybe $300? But that’s so different I feel like I’m missing something.

This is a solid way to estimate the numbers. I encourage you to go for it and try to up your zen on the commute -- listen to audiobooks so that the time isn't wasted. It's not accurate to think of lost time as hourly equivalent x time UNLESS you would use that time to make money. I lived for free in SoCal (temporarily) and commuted 90 mins each way with a plug-in hybrid. It saved me tons of money and to avoid traffic I just went in early and gym after work. Boosting your salary by this much will be a positive strategic career move.

[Malaysia41]

There’s $, free time, and CO2 emissions.

1000 miles in typical car ~ 1 ton CO2.

Congested car commute: 22kg (49lbs) CO2 every 5 miles.

Source: “How bad are bananas : the carbon footprint of everything” by Mike Berners-Lee