So, my current position as an engineer/project manager at a fortune 500 company in Portland has kind of stalled. I don't want my bosses job, there's no other positions/added responsibilities between my job and his, and I'm really not learning much. There are alot of other engineering jobs in the company, so there is that option, but none seem really interesting to me right now. The job is easy, except for the occasional hectic "Hey, it's friday, and we need you to purchase, install and qualify this machine by Monday!!" which is exciting but inevitably a cluster-f that takes some untangling later. I'm not unhappy with my job, just not challenged/intrigued by it any more. Occasionally I get to do some real design engineer work, which I just love. It'll literally make the job fun... and make me want to stay after hours. but those tasks are few and far between. That said... I make bank.in the 60's, plus a 18.5% bonus, stock purchase program, a pension (who gets one of these any more?), my gym memberships are paid for... if I stay in this development program they'll give me 80-120 shares of stock... (now, the development program itself is a joke...). For a guy 3 years out of college, I do very well. I also typically don't work more than 45 hours a week, so I have lots of free time. My commute is all of 3 miles also.
I interviewed for a position at another company about 2 months ago. They said they'd call me within 4 weeks. I didn't hear from them, so I embarked on building an addition on my house, which is beyond the point of no return now. Imagine my surprise when I get a call yesterday, saying they'd offer me the job. I had told them my current compensation in the interview... they were a bit put off with it being so high. I told them I wasn't expecting a pay increase, and that the right opportunity would have me considering a lower wage. On the phone call, they told me the most they could possibly offer was a few K above my base, but no bonus. (normally they would offer about 10K less than they offered.) I asked for a few non-monetary things, like starting with vacation. They had no problem with that. I'm waiting for a revised offer letter before I accept. All in all, it's still a 12,000 a year pay cut, and my commute would be 35 miles each way, until I finish the addition and move. (the 12K does factor in the commute cost.)
The opportunities for advancement at the new place are better, a friend of mine who worked there said I'd love it and "really shine" in a place like that, and it would be almost exclusively engineering design work.
A final complicating factor is, I know my current employer will counter offer when I put my notice in. I've got too many key projects and my boss tells me I'm the only engineer who "knows thier ass from a hole in the ground." they've also done it before to other engineers. So the paycut will grow.
Long story short, is giving up a cush job that I can tolerate, $12K/year, 5K in company 401K match that hasn't vested yet, a pension, a very social work environment (though there is alot of bad attitudes from some people), and a short commute worth it for a job that will probably be alot more enjoyable, offer some travel and advancement opportunities? I can certainly afford the hit, but it does push FI further out by about 5 years!
