Author Topic: Took a new job, it was a mistake!  (Read 7582 times)

stratozyck

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Took a new job, it was a mistake!
« on: September 19, 2016, 09:49:58 PM »
I made a mistake. I moved my wife and infant 1,000+ miles across the country for a job that seemed really awesome on paper and in the interview. We bought a house in the new area and moved. I really thought "wow this could be 10+ years at this job!"

It has been about 7 weeks. About 3 weeks ago I realized that the job was very different than advertised. I went from a job where I ran logistic regressions and analyzed output to a job where I literally copy and paste 400 pages of charts to PowerPoint. Yes, that is my job. Oh each chart has to be copied individually because you have to hit "alt - e- s" and paste special to do it. To boot, the culture is horrible. When I leave at 5:30 when there is nothing to be done, I notice others staying for no reason (I know for a fact that they stay when there is absolutely nothing to be done). Its a contest to see who can stay the latest and sacrifice the most of their personal lives, for nothing. Most of the things I have done had to be re done because someone sent me incorrect files (out of my control). It made me miserable and depressed very fast.

Anyways, my former employer is willing to take me back. It brought me to tears because I instantly remembered the good things about the people there. I did not leave because I disliked that company or role - I left because I genuinely believed I was taking an advanced statistics role at a major institution (I won't say which one but it rivals Apple in market cap) and thought I would learn a lot about my field. Instead, my skills are degrading with each day I do not use them.

My question is:

What would you do with a home you just bought that you need to get out of? It was a mistake to buy, I know. I definitely know that know. But on the plus side - we got a 30 year fixed a low rate - does renting make sense? I figure either way we will lose money (selling now or renting over time). Any advice on dealing with employer contracts? I know I will have to repay the relocation and I think the moving (they paid, I will check up I am unsure about that one). I think I could be out over 10k, but at least the move netted us 25k (our previous home, which we owned for two years).

Anyone done this before?

newelljack

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Re: Took a new job, it was a mistake!
« Reply #1 on: September 19, 2016, 10:20:32 PM »
I have not been in your shoes and I can only imagine the frustration you feel. Have you been able to share some of your disappointment with your supervisor/manager? Is there any chance you can grow in this job or shift departments and be doing something else? I really think that once you have exhausted all of your options at your current location, you could think about A) finding another job in the area or B) biting the bullet and moving back. Yes, it's expensive, but you cannot put a price tag on not being miserable :( Good luck.

trashmanz

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Re: Took a new job, it was a mistake!
« Reply #2 on: September 19, 2016, 10:31:45 PM »
Sounds like you have a clear path back to where you need to be.  That is quite fortunate, just chalk it up to taking a chance that you would have always regretted if you didn't. 

I wonder though if there could not be other roles for you to play.  What if you dug around to see what other meaningful work needs to be done?

mandy_2002

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Re: Took a new job, it was a mistake!
« Reply #3 on: September 20, 2016, 04:58:26 AM »
When I moved for my last job, the relocation agreement had me paying back the entirety of expenses if I left within a year.  After the relocation (for a single person with a home - they paid closing costs), they said that these expenses were just under $27,000.  Hopefully your company used a cheaper way to move your family.

2Cent

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Re: Took a new job, it was a mistake!
« Reply #4 on: September 20, 2016, 05:04:44 AM »
Quote
Oh each chart has to be copied individually because you have to hit "alt - e- s" and paste special to do it.
You know you could make a macro that does this for you right?
https://support.office.com/en-gb/article/Create-a-macro-in-PowerPoint-5b07aff6-4dc9-462f-8fc9-66b4c5344e7e
If you have a lot of free time, learning to automate these kinds of tasks is a great skill to have. It works more or less the same in Excel and Word.

VladTheImpaler

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Re: Took a new job, it was a mistake!
« Reply #5 on: September 20, 2016, 05:06:56 AM »
Why didn't you rent for year, instead of buying a house right away?

MayDay

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Re: Took a new job, it was a mistake!
« Reply #6 on: September 20, 2016, 05:15:37 AM »
Why didn't you rent for year, instead of buying a house right away?

Not the OP, but when you have school age kids it can be extremely difficult to coordinate a rental and then house purchase in the same schools so your kids don't have to move schools twice. And sometimes Relo packages pay closing costs but only within the first X months.

stratozyck

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Re: Took a new job, it was a mistake!
« Reply #7 on: September 20, 2016, 05:57:32 AM »
Thanks for everyones time -

Regarding the scripting - yes I wrote a script that did this and it would work except each chart has to be individually formatted. Also, the location of each chart in the end result is somehow "key." For instance I had all my charts copied and pasted and my manager wanted the formatting changed on all of them... yup. In the long run, yes I do think they would automate that but they are resistant to change. See, if they do it the labor intensive way they have more employees working for them. If they automated it, they'd need less people and have less resume bullet points (they want to say "I managed XX people! I am awesome)

Anyways, yes it may cost a lot. One thing going for us is our previous house sold well and we put the 38k we got from that directly into savings (and put the money down on the house from savings we had before). They did pay for relocation and luckily we did not go for all the bells and whistles. For instance I moved our pets my self (I drove them across the country in my car).

It will suck. I am going to talk to my boss today or tomorrow. He is always busy and in a meeting so its incredibly difficult to meet with him.

As far as other jobs in the company, I will make a half hearted effort to seek that. But I knew I had my answer when I spoke with my former boss and got a verbal "yeah you can work for this other department, I asked and its all OK" and I literally cried tears of joy. I had no idea how good I had it. Sure, it did not pay as much. But they were great people.

I don't think the company I currently work for has good people. They have ambitious single people straight out of grad school or college who want to work till 9pm and on Sundays to make it to manager. Its like that across the board. Its not a fit for me. I am a "punch in, punch out, go home" type of person.

I will let everyone know how the meeting goes.

chasesfish

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Re: Took a new job, it was a mistake!
« Reply #8 on: September 20, 2016, 06:00:19 AM »
You have to weigh all your available options.  I've been there and its really tough. 

Look through your relocation paperwork and see what the repayment agreement is?  Some of them burn off a little each month, others are an in-full payment.

I'd bite the bullet and move back.


Little Aussie Battler

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Re: Took a new job, it was a mistake!
« Reply #9 on: September 20, 2016, 06:03:06 AM »
I couldn't make an accurate judgement on a new job in 7 weeks.

Have you talked to your manager to understand why the reality is so different from your expectations?  Was it a misunderstanding? Are they easing you in before giving you more complex work (or testing to see how competent you are)?

ender

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Re: Took a new job, it was a mistake!
« Reply #10 on: September 20, 2016, 06:17:49 AM »
Have you talked to your manager to understand why the reality is so different from your expectations?  Was it a misunderstanding? Are they easing you in before giving you more complex work (or testing to see how competent you are)?

+1

Also, if it turns out to be the case that this job is worse, it's worthwhile for the OP to understand what questions they didn't ask during the interview process. Interviews need to go two ways.

poppan

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Re: Took a new job, it was a mistake!
« Reply #11 on: September 20, 2016, 08:12:15 AM »
The old job that you can go back to, would be taking a pay cut?

Plus the cost and hassle of moving again?

I think I would stick it out for longer and see what's what. Are there other companies in the new location and could you, in one year, leverage current title into something even better? Even if it isn't the right place long-term for you, it could still be a stepping stone to something on your career path.

In my career I have never been wrong in following the money. YMMV and all that, but I think I would really take a deep breath and try to look at this without the emotion of "I hate my workday". A job where you can punch in, do something easy and leave by 5:30 at a major company with good salary and benefits would be a dream come true to a lot of people. I would look into both whether you can make current job better and whether you can jump elsewhere without moving.


Miss Piggy

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Re: Took a new job, it was a mistake!
« Reply #12 on: September 20, 2016, 08:16:15 AM »
Other than the exciting job and the pay raise, were there other reasons you wanted to move to your current location? If so, don't forget those.

redbird

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Re: Took a new job, it was a mistake!
« Reply #13 on: September 20, 2016, 10:31:02 AM »
Is there other job options in your current location so you don't have to move? Moving is never cheap. I just did a ~850mile move myself, and I did it myself for only about $500. This was with renting too, where I didn't have to worry about house selling-related costs. Most of those costs were in the moving truck, and that was quite cheap for moving long distance too.

7 weeks also feels like a short time at your new company. That feels like barely enough time to get to know everyone's name, assuming the company is not small. Have you tried speaking to your supervisor about job duties, and how it's different from your expectations? They may be willing to work with you to change it.

jamesbond007

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Re: Took a new job, it was a mistake!
« Reply #14 on: September 20, 2016, 11:00:21 AM »
I made a mistake. I moved my wife and infant 1,000+ miles across the country for a job that seemed really awesome on paper and in the interview. We bought a house in the new area and moved. I really thought "wow this could be 10+ years at this job!"

It has been about 7 weeks. About 3 weeks ago I realized that the job was very different than advertised. I went from a job where I ran logistic regressions and analyzed output to a job where I literally copy and paste 400 pages of charts to PowerPoint. Yes, that is my job. Oh each chart has to be copied individually because you have to hit "alt - e- s" and paste special to do it. To boot, the culture is horrible. When I leave at 5:30 when there is nothing to be done, I notice others staying for no reason (I know for a fact that they stay when there is absolutely nothing to be done). Its a contest to see who can stay the latest and sacrifice the most of their personal lives, for nothing. Most of the things I have done had to be re done because someone sent me incorrect files (out of my control). It made me miserable and depressed very fast.

Anyways, my former employer is willing to take me back. It brought me to tears because I instantly remembered the good things about the people there. I did not leave because I disliked that company or role - I left because I genuinely believed I was taking an advanced statistics role at a major institution (I won't say which one but it rivals Apple in market cap) and thought I would learn a lot about my field. Instead, my skills are degrading with each day I do not use them.

My question is:

What would you do with a home you just bought that you need to get out of? It was a mistake to buy, I know. I definitely know that know. But on the plus side - we got a 30 year fixed a low rate - does renting make sense? I figure either way we will lose money (selling now or renting over time). Any advice on dealing with employer contracts? I know I will have to repay the relocation and I think the moving (they paid, I will check up I am unsure about that one). I think I could be out over 10k, but at least the move netted us 25k (our previous home, which we owned for two years).

Anyone done this before?

It looks like you and I work at the same place. Do I know you? I am the same boat as you. But I did not move because of that. But everything resonates very well about the culture and work. I was lied to about the culture and work. It was all topsy turvy when I joined my current company too. Oh and did I say that my company also rivals Apple in market cap? Sheer coincidence.

Anyway, if you are in the SF bay area by any chance, there are plenty of opportunities for your skill. Just be patient and start looking. Don't make a hasty decision and put your FIRE at risk. Slowdown a bit and think hard. Join local meetup groups that cater to your skill and build your network. You will come out ahead. My empathy is with you. I am in the same boat. Chill. You don't want this frustration to be noticed by your family. They gain strength from your happiness (At least in my case). Spend as much time on weekends with your family and divert yourself. Start your own venture to channel all the energy so you have some marketable skill on your resume when you make a move. That's what I am doing.

Hope it works our for you.

pbkmaine

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Re: Took a new job, it was a mistake!
« Reply #15 on: September 20, 2016, 11:36:31 AM »
I was in a similar situation once, decided to gut it out for a year so that I would not have to repay the sign-on bonus, and regretted it. I do think it's worth taking a look around your current location (if you like it) to see what else is available. What does your wife think?

aspiringnomad

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Re: Took a new job, it was a mistake!
« Reply #16 on: September 20, 2016, 10:58:17 PM »
I made a mistake. I moved my wife and infant 1,000+ miles across the country for a job that seemed really awesome on paper and in the interview. We bought a house in the new area and moved. I really thought "wow this could be 10+ years at this job!"

It has been about 7 weeks. About 3 weeks ago I realized that the job was very different than advertised. I went from a job where I ran logistic regressions and analyzed output to a job where I literally copy and paste 400 pages of charts to PowerPoint. Yes, that is my job. Oh each chart has to be copied individually because you have to hit "alt - e- s" and paste special to do it. To boot, the culture is horrible. When I leave at 5:30 when there is nothing to be done, I notice others staying for no reason (I know for a fact that they stay when there is absolutely nothing to be done). Its a contest to see who can stay the latest and sacrifice the most of their personal lives, for nothing. Most of the things I have done had to be re done because someone sent me incorrect files (out of my control). It made me miserable and depressed very fast.

Anyways, my former employer is willing to take me back. It brought me to tears because I instantly remembered the good things about the people there. I did not leave because I disliked that company or role - I left because I genuinely believed I was taking an advanced statistics role at a major institution (I won't say which one but it rivals Apple in market cap) and thought I would learn a lot about my field. Instead, my skills are degrading with each day I do not use them.

My question is:

What would you do with a home you just bought that you need to get out of? It was a mistake to buy, I know. I definitely know that know. But on the plus side - we got a 30 year fixed a low rate - does renting make sense? I figure either way we will lose money (selling now or renting over time). Any advice on dealing with employer contracts? I know I will have to repay the relocation and I think the moving (they paid, I will check up I am unsure about that one). I think I could be out over 10k, but at least the move netted us 25k (our previous home, which we owned for two years).

Anyone done this before?

It looks like you and I work at the same place. Do I know you? I am the same boat as you. But I did not move because of that. But everything resonates very well about the culture and work. I was lied to about the culture and work. It was all topsy turvy when I joined my current company too. Oh and did I say that my company also rivals Apple in market cap? Sheer coincidence.

Anyway, if you are in the SF bay area by any chance, there are plenty of opportunities for your skill. Just be patient and start looking. Don't make a hasty decision and put your FIRE at risk. Slowdown a bit and think hard. Join local meetup groups that cater to your skill and build your network. You will come out ahead. My empathy is with you. I am in the same boat. Chill. You don't want this frustration to be noticed by your family. They gain strength from your happiness (At least in my case). Spend as much time on weekends with your family and divert yourself. Start your own venture to channel all the energy so you have some marketable skill on your resume when you make a move. That's what I am doing.

Hope it works our for you.

Sounds like you both work at Hooli. I agree with folks recommending you stick it out for another month or two while looking for other jobs, if possible. But if the family really wants to move back home anyway, then just bite the bullet and move back.

LeRainDrop

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Re: Took a new job, it was a mistake!
« Reply #17 on: September 20, 2016, 11:17:57 PM »
Have you talked to your manager to understand why the reality is so different from your expectations?  Was it a misunderstanding? Are they easing you in before giving you more complex work (or testing to see how competent you are)?

+1

Also, if it turns out to be the case that this job is worse, it's worthwhile for the OP to understand what questions they didn't ask during the interview process. Interviews need to go two ways.

+2 For future interviewing, you're going to need to hone your question-asking skills.  When company culture is important to you (as I imagine it is for most people), you need to ask the key questions to get a better feel for the office culture of the prospective employer and also be able to look for the yellow/red flags in their responses.  Don't just ask the boss about the culture; what does the low man on the totem pole think?

stratozyck

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Re: Took a new job, it was a mistake!
« Reply #18 on: September 21, 2016, 01:33:51 PM »
Thanks again for all the insights - there are updates but I will first explain more.

I am a statistical quant with a PhD in Economics. I am an expert in building and judging things like credit risk models (think FICO scores or loss forecasts). The job I had was very much in line with that and I was awesome at it, but horribly underpaid because I was new in the field. I left because the way to get big pay raises in my field is to get about 2-3 years experience and go somewhere else. The pay raises stop getting so large after about 10 years in and after that its your standard cost of living raise.

The job I have now is with a major bank (I won't say which one - but its one of the "Big 4." I was headhunted and did not seek it. The job description was very quant - PhD required, advanced statistics, etc. My interview was whole day of a grueling questions on highly technical things and I was frequently presented with pages of things and told to quickly assess what might be going wrong. Everyone I interviewed with was a quant.

The big boss was the last guy I interviewed with and he talked the talk, said what I wanted to hear. Now, in hindsight I see the reality. No one gave me an honest answer about the role I was going for. Even when they did mention things, their definitions were different than mine. For instance, in my field a big thing is "sensitivity analysis." They talked a lot about that being part of it. Real sensitivity analysis is taking a model (say a credit score model) and measuring impacts of changes. What I know now is THEIR (as in, this particular department) definition of sensitivity analysis is completely different. In fact, they got a little bit in trouble with the FED because of this and were told to fix it (I know this only now).

In reality, what my team does is copy and paste hundreds of charts into powerpoint for management presentations every few weeks. Its tedious and would be a great job for someone out of college or an intern. The pay is fine - but its not a 9-5 job. During the interview I said repeatedly that I am OK with working late or weekends during regulatory deadlines (standard in our industry) but outside of that am a "home by dinner" family man. The big boss said of course, he didn't expect anyone to stay late on a regular basis.

Now what I did not anticipate: We have two managers below him ("line" managers I guess you could say) that handle the day to day stuff. They are both "go getters" and compete to see how late they can make their underlings stay. Its one thing to do mindless drone work (I can take that for a year) but one of these managers frequently throws fits when people leave before 6:30. She also frequently changes the charts and we have to redo them (all 400 pages) all over again. Last time it was because she wanted the legend all on one line (one item had been below the others on a second line). That caused many people to stay to 8pm and come in on Sunday because it just "had to be done ASAP" despite that it really didn't.

Its only been two months but this has happened consistently enough to the point where I have realized "this is what the job is." Its not just the department either - I've realized its a deliberate company wide culture. The same guy that said "yeah we don't stay late outside of our busy time"(which is typically 1st Quarter of every year) a few weeks ago called a 1 on 1 meeting with my line manager and me (I guess 1 on 2) to discuss why I had been leaving early. Oh, I left at 5:30 and there was nothing to do but we were "waiting for data" that was to be delivered at an unspecified time. I said "looks like this is a 'tomorrow' thing" and I went home. My line manager ran me down as I left and said I needed to stay. I left anyway and that is what prompted the 1 on 2 meeting. In that meeting he admitted that here, if your employees aren't working late its a sign that you don't need as many employees in your department.

So yeah, I would hate to be around here during the actual busy time. I heard from others that last year they frequently worked 8 am - 10 pm during that time. And I know they worked late because of how messed up and inefficient they are (so far all I've seen is "hey do this" then "wait, what you did was wrong because someone sent us the wrong calculations so you need to do it over and I don't care that its 5:30."

Its not a quant job - the longer I stay here it can permanently change my career. I can't even play around with SAS (the quant toolkit) because our team is not allowed to have it. Oh, SAS was on the requirements by the way. As for company culture and job stuff - I now see that they kept me away from the "low man on the totem pole." The only one of those I spoke with was a guy on another team. No one ever mentioned once "oh yeah you copy and paste excel charts." The talk was all statistics, modeling, regulatory environment, etc.

I hope that paints a clearer picture - this is a get the heck out ASAP situation.

----- NOW THE GOOD NEWS!!! -----

Ok enough of that. So yesterday I had a conversation with a manager in another department at my previous employer. He said he had an opening and if I applied the interview would be a formality. He was on the phone with me while he was writing the requirements in for the HR posting. He asked me what salary was ok and what rank, and other benefits. While the salary is lower than what I have at this moment, it is 15% higher than what I had at the company before. Thats all I wanted when I was there and was denied because their HR has a strict policy on things (I would have had to have 5 years in to get what I will be getting).

He said he was dreading filling the position but when he heard through the grapevine I had made a mistake (I told my friend there a week ago) he couldn't think of anyone more qualified because I knew that particular job already very well (I had worked with their team extensively).

And are you ready for the icing on the cake? He said I can initially work remotely. I have a few months to catch my breath, recover a little, and move in a way to minimize the stress. I will get relocation so that will lessen some of the hit.

In an odd way - I could not have planned it better. The job that is open only opened up a week ago. I also know that this particular department is the best to work in - all they care about is you do the work on time. They don't ask questions or demand you stay in the office for the sake of it. I am only required to be in the office 2 out of 5 days a week (can work from home).

It worked out. I would say I got lucky but while I was there, I did do very well and a year ago I saved everyones Christmas. Long story short: had I not gone above and beyond in one regulatory deadline about 10 people would have had to cancel their Christmas/New Years vacation plans and this manager was one of those 10.

I had the conversation yesterday and am overwhelmed with emotion. Its cheesy but you never really appreciate something until its gone and in hindsight, many of my coworkers at that company were more than coworkers. As long as you would stick your neck out for the company they would go to bat for you and I don't see that where I am now. Its cutthroat here.

Yes, I am estimating that the worst case scenario is I have to write them a check for 25k or so. But you know what? Since I started reading MMM I began saving more in non retirement accounts (of course I upped my 401k to well beyond matching :-) ) and I can honestly say I have more than enough to cover that amount. Put it this way - I can cover that amount AND put a down payment on a house again. Yeah, I was on track to be FIRE at 45 or 47 or so. But this experience has me having warm fuzzy feelings for my former (and future) employer and has me thinking that this is a place I would work until I am 55 or more.
« Last Edit: September 21, 2016, 01:46:08 PM by stratozyck »

jamesbond007

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Re: Took a new job, it was a mistake!
« Reply #19 on: September 21, 2016, 02:45:11 PM »
Congratulations. I hope I can find a way out of my job too. I am in a similar situation as you are but only in the tech industry. I am giving an interview and I am in touch my past employer.

It's always great to hear happy endings. Very happy for you. The upside is that it's a lesson learned and you won't commit the same mistake again. :)

Cheers.

LeRainDrop

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Re: Took a new job, it was a mistake!
« Reply #20 on: September 21, 2016, 03:16:00 PM »
Congratulations!  What an awesome update!

marty998

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Re: Took a new job, it was a mistake!
« Reply #21 on: September 21, 2016, 03:20:15 PM »
Glad it's all working out for you. The new company has a horrendously bad corporate culture. Any manager who treats her/his staff like that is not really doing their job properly.

Well done on the pay bump, and it's a very good lesson to all for not burning bridges with your old employer.

pbkmaine

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Re: Took a new job, it was a mistake!
« Reply #22 on: September 21, 2016, 03:37:03 PM »
Crossing my fingers that it all works out. Please let us know.

TexasRunner

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Re: Took a new job, it was a mistake!
« Reply #23 on: September 21, 2016, 04:25:42 PM »
Yes, I am estimating that the worst case scenario is I have to write them a check for 25k or so. But you know what? Since I started reading MMM I began saving more in non retirement accounts (of course I upped my 401k to well beyond matching :-) ) and I can honestly say I have more than enough to cover that amount. Put it this way - I can cover that amount AND put a down payment on a house again. Yeah, I was on track to be FIRE at 45 or 47 or so. But this experience has me having warm fuzzy feelings for my former (and future) employer and has me thinking that this is a place I would work until I am 55 or more.

And that, good sir, is what we here call "FU Money".  :-D  Very glad you have it. 

Its a shame that HR puts restrictions in place on some of the best people- case in point, you had to leave and come back in order to get above XX$ pay line.  Stupid.

Let us know how things go.

Adventine

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Re: Took a new job, it was a mistake!
« Reply #24 on: September 21, 2016, 07:26:09 PM »
Congratulations! Very happy for you.

meghan88

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Re: Took a new job, it was a mistake!
« Reply #25 on: September 21, 2016, 07:26:59 PM »
Yes, I am estimating that the worst case scenario is I have to write them a check for 25k or so. But you know what? Since I started reading MMM I began saving more in non retirement accounts (of course I upped my 401k to well beyond matching :-) ) and I can honestly say I have more than enough to cover that amount. Put it this way - I can cover that amount AND put a down payment on a house again. Yeah, I was on track to be FIRE at 45 or 47 or so. But this experience has me having warm fuzzy feelings for my former (and future) employer and has me thinking that this is a place I would work until I am 55 or more.
And that, good sir, is what we here call "FU Money".  :-D  Very glad you have it. 

Its a shame that HR puts restrictions in place on some of the best people- case in point, you had to leave and come back in order to get above XX$ pay line.  Stupid.

Let us know how things go.
Oh yeah!!  Love the story.  Shows how it's wise to always be a righteous dude/dudette and never burn any bridges.

AND THEY ALL LIVED HAPPILY EVER AFTER!!

stratozyck

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Re: Took a new job, it was a mistake!
« Reply #26 on: September 21, 2016, 08:20:24 PM »
Thanks everyone! I like the phrase "F U money." I almost want to open a bank account specifically for "F U" money. I want to invest in "F U" index funds :-)

I will update when things get more official.

chasesfish

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Re: Took a new job, it was a mistake!
« Reply #27 on: September 22, 2016, 04:43:26 AM »
I'm sorry to hear about your experience.

One thing I'll note, your bank experience may be very useful, but stay out of the Big 4.  There are plenty of regional and larger community banks with more reasonable cultures. 

ender

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Re: Took a new job, it was a mistake!
« Reply #28 on: September 22, 2016, 06:07:36 AM »
Thanks everyone! I like the phrase "F U money." I almost want to open a bank account specifically for "F U" money. I want to invest in "F U" index funds :-)

I will update when things get more official.

Some banks let you name accounts. Might be a fun account name :)

dcozad999

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Re: Took a new job, it was a mistake!
« Reply #29 on: September 22, 2016, 07:15:42 AM »
Congratulations man!

Glad everything worked out.

stratozyck

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Re: Took a new job, it was a mistake!
« Reply #30 on: October 06, 2016, 02:54:39 PM »
Update/Conclusion

I got a contract on the way with my new/previous employer. I heard the terms yesterday and all in all, this has worked out. I did something someone else would flip out about - I quit my job here before having the contract. I looked at the financial situation and realized, even if the contract fell through we could "survive" for 2 years at our current home. Taking into consideration my wife's income, we really could survive indefinitely. So I quit, I put in my notice and was escorted out the same day. I will get paid for a month (two weeks + vacation - I started out with 2 weeks) for doing nothing. Yeah, I already got the $21,000 bill wanting the relocation assistance back. Luckily, 10k of that was cash that I took and put into the bank and didn't touch. The rest of the damage is mitigated by my new/previous employer giving me a pretty sweet relocation deal that will effectively mean I am out about 2-3k.

We met with a property manager to get ready to rent out our house for a bit. We figured putting it on the market now is a guarantee to lose money as no one would pay more than it sold for two months ago. We'd be out closing costs and such. So I figured even if we end up losing the same amount of money a year or two from now, its better than now. Plus, I did kindof want to get into property rentals. My brother did it and he has a house in a high cost area that continues to increase so I am sure when he does sell it 5-10 years from now he will make a decent bit.

The job got worse right up until the last day. I was literally throwing up some mornings at the anxiety of going back into that place. My Outlook was filled for the next 6 months with 6-7pm daily meetings that more often then not, I'd show up to and no one else would. But the few times I didn't show, it resulted in a "coaching meeting" as to why I didn't show. The meetings were never important things and I now know it was important to have 6-7PM meetings on your schedule so that your boss would think you were working hard.

Anyways - one bright spot. Had I not taken this job we would be evacuating Florida right now. Our previous home (which sold) is right in the worst pat of this hurricane. The thought of evacuating with pets and a baby sounds on par with the pain of moving 1,000 miles away and then 600 miles away. It would be even worse if we lived in a house that got severely hurricane damaged and had pets and a baby. At least with all of this, our savings remained intact, even if we didn't save any more due to all these expenses.

Thanks for all your help!

With This Herring

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Re: Took a new job, it was a mistake!
« Reply #31 on: October 06, 2016, 04:31:52 PM »
Congratulations on escaping!

You might want to post your house situation and numbers in the Real Estate and Landlording section.  They might tell you you would be better off eating the closing costs as opposed to renting for a year.

RosieTR

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Re: Took a new job, it was a mistake!
« Reply #32 on: October 06, 2016, 06:16:07 PM »
Wow, OP! Great story!

I'm twice bitten, forever shy of renting out a house having been in a similar situation (moved for a job, everything was terrible except some of my coworkers, moved back after three years). We rented out both the house we initially left, then the new house. Sent $16K+ to closing on the new house when we could finally afford to dump it. Felt like buying then selling a boat (the two happiest days of your life, right?)! Property management companies do not care about your house because they get paid regardless. Go forward with caution.

I regret buying the new house and moving, but do I regret moving back? Not one bit, despite the expense.

Easye418

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Re: Took a new job, it was a mistake!
« Reply #33 on: October 06, 2016, 06:21:58 PM »
You caught a break.

I did a similar thing, took a job, relocated across country, worked for year, travel was hurting relationship, cost me $24k, which company gave me a 2 year 0% loan to repay.

What unraveled from that $24k hit:
That job: $60k with 10% bonus (+$24k moving expenses) March 2014
New job: $70k with $10k sign on bonus. March 2015
Promotion:$85k + 10% bonus. April 2016.
New job: $110k + 15% bonus. October 2016.

If I didn't take that leap of faith, I would still be making $65k-$70k. I thank the Lord everyday for pointing me in the right direction.