Author Topic: Two Job Offers... help me choose  (Read 3173 times)

MittenMustache

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Two Job Offers... help me choose
« on: March 30, 2014, 01:32:49 PM »
This is my first post ever. I've only been reading MMM about a month or two, so I'm still a bit green. I'd love to get input from more hard core mustacians about our current situation.

Dh and I are both 39 yrs. Until recently I have been a full-time SAHM. Our 3 children are now 7.5 yrs, 6 yrs and 4 yrs. Dh is an engineer at a pretty flexible company 4 miles from our home. He generally works 7 am - 4 pm.

Fall 2013 I decided the kids were getting a little less dependent and I'd start feeling out the job market. To my surprise, after being unemployed (by choice) for 5.5 years I easily landed a job doing contract graphic design for $50/ hr part time from home. In many ways this is a crazy, amazing dream job (the pay is great and I work mostly from home). In other ways it's a pita. The work often has short deadlines so I feel at times like I'm lurking on my email all day waiting for assignments/project approvals, then quickly have to finish it up. Sometimes I work late at night to catch up. Sometimes I think having a regular schedule would be easier. Also, being contract, I'm concerned the work will dry up at any time. I've also done some on-site work for this company, and one of the designers confided in me she is hoping to quit soon to become a SAHM (she is pregnant with her first). The company has already asked me to fill in full time while she is on maternity leave (she is due 9/2)--I'm 99% sure I'll get hired if she ends up quitting.

During one of the periods I was concerned the contract work was drying up, I applied (just for the heck of it, really) for a part-time marketing coordinator position at a non-profit organization. To my utter shock, I also landed this job.

Assuming that for a few years I want to do some work outside the home... help me think my options through. I actually start the non-profit job on Tues (Apr 1). It's 20 hours/wk. And I told the contract business I only want 20 hrs per wk. So I plan to do both--at least for a short time--and I'll make up my mind later. When I'm honest with myself I tell myself I can quit one or both at any time... this money is going purely toward paying off the mortgage early and/or toward retirement.

Here's more background on each position:

Large Awesome Company:
Currently contract at $50/ hr. A full time position is likely opening soon, and if it does I am pretty much a shoo-in. I don't know how much a full time salary there is. My off the cuff guess is $50,000. This company also offers generous stock options. Dress is casual. I can wear my regular clothes every day (jeans and a sweater this time of year). I am awesome at this job. It's in my area of expertise. I like the people and I like the work. Downside: more daycare required and there is a commute. 20 mi/30 min. During the school year the daycare doesn't really bother me (emotionally). But during the summers, the thought of me not being there is kind of sad.

Small Non-Profit:
Part time--20 hours/wk. I pick the days and hours (I picked 9-5 Tues, 9-4 Wed, 9-5 Thurs). Daycare probably not needed at all during the school year, and only 3 days/wk in the summer. Pay is $18,720. 3 weeks vacation, plus the week off between Christmas and New Years. Dress is more upscale. No jeans (I will have to buy more dress pants, as I currently only have 2 pair). I don't know if I'll like this job or not. It's some design, but also marketing and project management which is not my normal gig. They also want me to work on a PC (I've only ever worked on Macs, which is typical of graphic designers). The organization is very small, just 13 or so people in total. One interesting aspect of this non-profit is that it was started by the area's 100 most influential business people. One thing I have considered is doing this job for a couple years until our 4 year old is in full time school, and then getting something else more lucrative via a connection with one of the influential contacts.


Help me figure this out. What else would you like to know? Price of daycare? Our current financial situation? I don't really know when we'll be able to retire. Dh is still under the impression we need $2-5 million to do so. I haven't gotten him to read enough MMM to convince him otherwise.

MittenMustache

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Re: Two Job Offers... help me choose
« Reply #1 on: March 30, 2014, 02:16:39 PM »
Thanks for the quick reply (I just got over my own Death Cold, actually) and your help. I will start collecting info.

Off the top of my head... Dh's salary is $94,000.

No retirement benefit with the part time job. 401k with the full time job. I don't know how much of a match they offer, although I assume they have one. Dh works for a similar company, so I will assume the large company has a similar benefit: full match on first 3%.

We have 3 kids, but I don't think we have access to a dependent care FSA.


mlipps

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Re: Two Job Offers... help me choose
« Reply #2 on: March 30, 2014, 04:22:48 PM »
Do you know for sure that the daycare would let you do only 3 days and charge you a prorated rate?

MittenMustache

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Re: Two Job Offers... help me choose
« Reply #3 on: March 30, 2014, 04:37:05 PM »
I'm going to start estimating daycare costs as of Sept 1. Unless I get overwhelmed, I might try to do both jobs until then. In Sept the kids start school, and that's when the other designer is due. I'll do a daycare estimate for Year 1 (Sept 2014 - Sept 2015) and Year 2 (Sept 2015 - 2016) because our 4 year old will be in all day/every day kindergarten (no oop cost) beginning Sept 2015, and costs will go down.

Full time employment - Year 1:
Before school care for two older kids - $2655
Preschool for 4 year old - $1200
Daycare for 4 year old - $5920
Summer (I have never gotten summer-only care. I have no idea of the going rate): Guessing at $4800 for all 3, full time all summer.
Total for Year 1 - $14,575 (ouch)

Full time employment - Year 2:
Before school care for all three - $3894
Summer - $4800
Total for Year 2 (and subsequent years, not including inflation) - $8694

Part time employment - Year 1:
Preschool for 4 year old - $1200
Daycare for 4 year old - $1998
Summer - $2880
Total for Year 1 - $6078

Part time employment - Year 2:
Summer care needed only - $2880

I also notice I forgot to mention how far away the second job is. It is 6 mi from home.
« Last Edit: March 30, 2014, 04:48:14 PM by MittenMustache »

MittenMustache

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Re: Two Job Offers... help me choose
« Reply #4 on: March 30, 2014, 04:38:29 PM »
Do you know for sure that the daycare would let you do only 3 days and charge you a prorated rate?

Yes, the daycare for the 4 year old (during the school year) is through her preschool. I can pick the days. During the summer we'd probably hire a high school or college student.

greenmimama

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Re: Two Job Offers... help me choose
« Reply #5 on: March 30, 2014, 05:01:23 PM »
Is working full time something that you want to do?

To me the part time position sounds great as far as hours in a week and the vacation schedule, and it being close to home.

Personally I wouldn't want to jump back into 9-5 plus commute, if I didn't have to, the time away and all of the things that a home needs done, cooking/cleaning/ managing home repairs and all of that, seems impossible with a commute and FT work.

That is totally diff. from person to person and one is not wrong, just voicing what I would see as a concern.

I am also assuming that you are quite comfortable with your DH's salary and are not terribly in debt as that would change my answer.

MittenMustache

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Re: Two Job Offers... help me choose
« Reply #6 on: March 30, 2014, 05:48:02 PM »
Is working full time something that you want to do?

To me the part time position sounds great as far as hours in a week and the vacation schedule, and it being close to home.

Personally I wouldn't want to jump back into 9-5 plus commute, if I didn't have to, the time away and all of the things that a home needs done, cooking/cleaning/ managing home repairs and all of that, seems impossible with a commute and FT work.

That is totally diff. from person to person and one is not wrong, just voicing what I would see as a concern.

I am also assuming that you are quite comfortable with your DH's salary and are not terribly in debt as that would change my answer.

Yes, that is DEFINITELY part of the decision. Part of me thinks I'm a fool for even considering full time. Because what I'll be doing is contributing to our retirement accounts so that we can retire early and... spend more time with the children I guess? And wouldn't I obviously be able to do that working part time, or staying home FT? Am I just impatient? It has been nice doing some work again. Stretches a different part of my brain, or something. It's almost like a break! lol

Dh is typically home every day at 4ish, so he is around to help with a lot of cooking and cleaning. Also, once the kids are in school full time, I wonder if I should just go to work too... then again there are the summers. Sad face.

Another consideration is if I found out we could retire relatively soon, vs dragging it out, it might be worth a few years of sacrifice.

We are comfortable on dh's salary only. We have no debts except two mortgages. $130,000 on our primary residence (worth about $208,000 I think) @3.125%. $75,000 on a rental/duplex (worth about $102,000 I think) @4.25%. Actually the duplex is owned 50/50 with my brother. We bought it together and he lives in half. He is young and single. We told him we'd buy him out whenever he wanted to move.