Author Topic: take higher paying remote job?  (Read 5232 times)

AspiringMustachian

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take higher paying remote job?
« on: February 11, 2015, 06:19:53 PM »
Hey there,

I recently took a new job about a month ago that brought my income up from 38k to 75k. I was just contacted by a recruiter about a 100% remote position that would be at least 90k before bonuses, etc. I think I might be able to negotiate a bit more than that, don't know for sure, but the listing seems tailor made for my skill set.

The problem is I really am loving my current job right now. It's a great non-micromanagey environment, great benefits, 25 minute bike commute away, flexibility to work from home sometimes (though not consistently). The work is very interesting and I am learning a lot every day. I also have stock options at my current company that potentially could be worth a lot, but there's no way to know for sure where their stock price will actually go after they IPO and I have to stay for four years for those options to be fully vested. I think the future is bright for this company but there is some risk on that...

I am also concerned about jumping ship after so short a time hurting me professionally, and moving to a new company is always a bit of a risk. But a fully remote position would let me be a digital nomad if I feel like it- the thought of spending 3 months out of the year traveling internationally has a lot of appeal to me.

Thoughts?

iamlindoro

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Re: take higher paying remote job?
« Reply #1 on: February 11, 2015, 06:27:30 PM »
It's hard to objectively evaluate this.  I have worked 100% remote for the past two years, though unfortunately various things prevent me going full digital nomad so I'm still 40 miles away from the office.  As you mention, there's always some risk you'll hate it, or that it will be a bad fit for any number of other reasons.  For me personally, I love working remotely and somewhat dread the looming day when I change jobs and have to give it up (for more money and speedier FIRE).

For *me*, all other things being equal and with the freedom to work from abroad, I'd take the remote position every time.  Only you can evaluate if it's worth the risk to you.

JLee

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Re: take higher paying remote job?
« Reply #2 on: February 11, 2015, 07:01:58 PM »
What industry are you in? I need in on this, lol.

Exflyboy

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Re: take higher paying remote job?
« Reply #3 on: February 11, 2015, 07:04:28 PM »
The first question is are the bennies comparible?

like 401k company match, healthcare, time off etc etc?

For a relatively small jump in salary I'd be tempted to hang out for a while.

Frank

ColorOfCash

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Re: take higher paying remote job?
« Reply #4 on: February 11, 2015, 07:09:47 PM »
On the jumping ship, it won't hurt you professionally. You just say it's not a good fit for the two of us and go on to the next place. Don't ever believe for a moment that an employer won't let you go when it's better for them to do so. Resume wise you can choose to not list the place you were at for a month, I normally only list years on my resume.

On the stock price/IPO, unless you are employee #3 of a hot company, don't wait out 4 years for options to be vested. It's like a lottery ticket.

On the learning, you can learn anywhere (and should be learning anywhere even outside of employer).

My disclaimer: I've been 2 & 1/2 yrs with a company with options, IPO was started a year ago, no date on going public. Promised promotion start of year, wasn't given even with perfect review. I'm at $100K/yr salary + bonus interviewing for $120K/yr positions while I do consulting at $90/hr in the evenings. Being a programmer has it's benefits.

Sid Hoffman

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Re: take higher paying remote job?
« Reply #5 on: February 11, 2015, 08:46:05 PM »
I am also concerned about jumping ship after so short a time hurting me professionally, and moving to a new company is always a bit of a risk. But a fully remote position would let me be a digital nomad if I feel like it- the thought of spending 3 months out of the year traveling internationally has a lot of appeal to me.

First off, no way will it hurt you professionally.  In fact it will help you quite a lot because one of the best bits of leverage you have in negotiating salary at a new job is showing them how much you make at your current job.  If you try to land a job making $60k and they say "Well, what is your current pay?  Can you provide a pay stub?" and they see you're making $38k, then they'll know that either you're not as good as you say or that you're not in a position to negotiate.

However if you dislike the new job and are willing to take a pay cut, you are in a position of power.  Instead, you can say "Well I'm currently making $75k, but I'd be willing to take some degree of pay cut for a better work environment, as long as the pay is still reasonable."  Suddenly the guy who posted the $60k job has to scramble and determine exactly how much he can offer you, since obviously some other company thinks you're worth $75k and he/she doesn't want to look like a chump and not offer you something competitive.

Overall it's actually really valuable to have held highly compensated jobs, even if you have to be coy about the way you share that information with a prospective employer you are interviewing with.

As for being a remote employee, I switched to remote last year after so many years of working in offices or being a part-time telecommuter.  It works well for me and I really enjoy the fact that I can move wherever I want and not have it affect my work situation.  For example, the most affordable housing that isn't high-crime is at least twice as far away from my employer's local office, but I no longer have to care how far I am from the office if I'm not commuting anymore.  Suddenly distance from the office doesn't matter in my housing decisions.  I still have a son so I can't move too far from school right now, but in the future, yeah, all bets are off.  I like that flexibility too, even though I've not yet made full use of it in any way.

escolegrove

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Re: take higher paying remote job?
« Reply #6 on: February 12, 2015, 04:23:42 AM »
I jumped ship from a cushy "easy" job to a much better pay , pay job and close to home!While the transaction was hard it honestly was totally worth it! As the extra money now is allowing us to aggressive invest making our early retirement goal all that more easily attainable!

Therefore you need to decided what's important . Your cost of living versus the opportunity to find your early retirement goals.

Which is soo much easier said than done. :)

mxt0133

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Re: take higher paying remote job?
« Reply #7 on: February 12, 2015, 04:46:07 AM »
Talk to the recruiter and do your best to get an offer.  Then practice your negotiation skills to get the most money you can.  The experience will be worth more than the time you spent even if you don't get, or take the offer.

Can you or are you willing to do both?

YTProphet

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Re: take higher paying remote job?
« Reply #8 on: February 12, 2015, 07:26:01 AM »
Talk to the recruiter and do your best to get an offer.  Then practice your negotiation skills to get the most money you can.  The experience will be worth more than the time you spent even if you don't get, or take the offer.

Can you or are you willing to do both?

I think this is great advice. Pick a $ amount in your mind that would make you move and then stick to it during negotiations. If you get it, great. If not, great - you've already got a job you love.

k_to_the_v

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Re: take higher paying remote job?
« Reply #9 on: February 12, 2015, 07:34:48 AM »
I'm going to be the voice of dissent here. I work remotely (but do travel occasionally) and I do love it. But considering how much time you spend working, if you currently have a job that you really enjoy (and it sounds like you do), that is worth more than the ability to work remotely or even a higher salary.

If I really loved the current job, I would still consider the new job, but only after looking at what my long term opportunities were at both places, and make a decision that was informed not solely by salary or onsite/remote but by what I expected my overall satisfaction level, stress level, enjoyment level would be with each position.

Life is too short to work at a job you don't like. If you actually like your current job, you are in the minority and you should think carefully before making a change.

olivia

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Re: take higher paying remote job?
« Reply #10 on: February 12, 2015, 07:44:33 AM »
I'm going to be the voice of dissent here. I work remotely (but do travel occasionally) and I do love it. But considering how much time you spend working, if you currently have a job that you really enjoy (and it sounds like you do), that is worth more than the ability to work remotely or even a higher salary.

If I really loved the current job, I would still consider the new job, but only after looking at what my long term opportunities were at both places, and make a decision that was informed not solely by salary or onsite/remote but by what I expected my overall satisfaction level, stress level, enjoyment level would be with each position.

Life is too short to work at a job you don't like. If you actually like your current job, you are in the minority and you should think carefully before making a change.

Ditto.  Also it's likely that this job or a similar one will be available if you are ready to leave the job you really like.  Unless this is a dream job or the opportunity of a lifetime, I would probably stay put.   The devil you know and all that. 

Also, are you sure you would like working remotely?  For me, it's best for my mental health to have a place to go that isn't my home.  Even being home sick for a couple of days affects my mood negatively.  I need to get out and interact with people.

3okirb

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Re: take higher paying remote job?
« Reply #11 on: February 12, 2015, 08:08:24 AM »
I can't tell if you really want to stay at your job because you love it, or if you are just afraid of the unknown. 

That being said, (despite what others have said) it CAN hurt you professionally.  It might not, but there are several HR people I know that week out based on how many jobs people have had and how long they have stayed at the jobs.

road_to_freedom

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Re: take higher paying remote job?
« Reply #12 on: February 12, 2015, 08:52:36 AM »
At the end of the day, the reason you're an "AspiringMustachian" is because you're trying to reach FI. By more than doubling your income you should reach FI faster.
I work remote myself and (in my view) the ability to do so is priceless:
- Ability to live wherever you want
- 0 time in traffic
- 0 "office distractions"
- 0 expenses on getting to/from work, lunches, fancy clothes/shoes etc.

Put a price on the "I quit" and see if that price is paid by the new job. If it is - you take it with no regrets. If it isn't, you just found out what salaries you could get down the road and you also sharpened your negotiation skills. Key point - don't get too attached to the outcome and be prepared to turn down the offer. Good Luck !


   

Lis

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Re: take higher paying remote job?
« Reply #13 on: February 12, 2015, 09:23:35 AM »
Would it be possible to reduce your hours at your current job and work part time for the new place? Then you could possibly see if this new job is a good fit for you or if you'll truly miss your current job.


Retire-Canada

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Re: take higher paying remote job?
« Reply #14 on: February 12, 2015, 12:14:40 PM »
Hey there,

I recently took a new job about a month ago that brought my income up from 38k to 75k. I was just contacted by a recruiter about a 100% remote position that would be at least 90k before bonuses, etc. I think I might be able to negotiate a bit more than that, don't know for sure, but the listing seems tailor made for my skill set.

The problem is I really am loving my current job right now. It's a great non-micromanagey environment, great benefits, 25 minute bike commute away, flexibility to work from home sometimes (though not consistently). The work is very interesting and I am learning a lot every day. I also have stock options at my current company that potentially could be worth a lot, but there's no way to know for sure where their stock price will actually go after they IPO and I have to stay for four years for those options to be fully vested. I think the future is bright for this company but there is some risk on that...

I am also concerned about jumping ship after so short a time hurting me professionally, and moving to a new company is always a bit of a risk. But a fully remote position would let me be a digital nomad if I feel like it- the thought of spending 3 months out of the year traveling internationally has a lot of appeal to me.

Thoughts?

$75K + stock options + loving your job + easy commute @ 100% certainty = awesome

$90K - $100K @ 100% certainty + loving your job @ say 50% certainty = less awesome

I'd stay where you are. Unless you can reduce the uncertainty on the new job. Say you fly out there and meet the people you'll be working with and it all seems like a perfect fit than I'd take the new job.

The issue of leaving one job to go to another is only a problem in 2 cases:

1. You were told they wanted you long term and you agreed to that or used your desire to stay long term to entice them to give you the job.

-- If so you have a moral obligation to stay unless something has changed that you didn't agree to. Being FI is great. Being able to look yourself in the mirror every morning and like that person is way more great..

2. You get fired at the new job early and you have two short term positions on your resume.

-- This can be overcome a number of ways, but it highlights the importance of reducing any uncertainty about the new job [as much as possible] before making a decision.

-- Vik

road_to_freedom

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Re: take higher paying remote job?
« Reply #15 on: February 12, 2015, 12:55:16 PM »
Quote
By more than doubling your income you should reach FI faster.
I misread your first sentence. So you're going from 75k to 90k (~20% increase in base salary). Make sure you're asking for a good "I quit" number ;)

3okirb

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Re: take higher paying remote job?
« Reply #16 on: February 12, 2015, 05:16:42 PM »
Have you thought about asking for a raise?  It might make the decision for you.

AspiringMustachian

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Re: take higher paying remote job?
« Reply #17 on: February 13, 2015, 10:04:46 AM »
Don't know how comparable the benefits are yet. I did reach out to the recruiter for some of that info. At this point I'm going to try to get an offer, but I doubt I will take it. Good exercise in negotiation in any case.

A few years ago I would have been more hesitant to accept remote work, but I'm a lot more socially active than I used to be so I don't think the isolation would be as much of a problem.

I don't think I could do both. Need some time with family after all.

As far as asking for a raise, I've only been with the company a month and change now, seems like that would be a bad idea right now.