Author Topic: When is it worth it to take the job offer?  (Read 9557 times)

svndezafrohman

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When is it worth it to take the job offer?
« on: October 27, 2015, 12:09:33 PM »
Hi Guys,

I am having a dilemma regarding my current job situation.
I am fairly happy with my current workplace, as it is low stress, and decent pay.
But i received a call from a friend that is willing to hire me for more pay.
I'm not yet sure how much more pay, but as I am already comfortable with my current job, I see no reason to change.
So my question would be, how much more money is worth the change?
I don't want the uncertainty of not liking my new job once the change has been committed.
There are other risks as well, (ie If new manager and I are compatible, colleagues are compatibale, etc.)

Other information.

Current salary: ~60K
Distance from Home: 8 miles
PTO: 15 days

So at how much of an increase you think it worth taking the new job?

AZDude

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Re: When is it worth it to take the job offer?
« Reply #1 on: October 27, 2015, 12:39:49 PM »
$90K. Liking your job is rare. If you have a good situation, then it should take quite a bit to get you to move. Alternately, you could use the new job as a way to get a raise at the current job.

tvan

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Re: When is it worth it to take the job offer?
« Reply #2 on: October 27, 2015, 01:00:18 PM »
It's a tough call. Depends on your value of money over job satisfaction.

I'm dealing with a similar situation and having trouble making the decision even with what would be a 30% pay raise.

Sareybox

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Re: When is it worth it to take the job offer?
« Reply #3 on: October 27, 2015, 01:15:07 PM »
Is there any chance you could do a trial day or week in the new role? I think you normally know pretty quickly if something is a good fit. How far out is FIRE?

svndezafrohman

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Re: When is it worth it to take the job offer?
« Reply #4 on: October 27, 2015, 02:08:45 PM »
Well, more information to add.

I am 28 years old.
I have about $250K in fire stache, so i would say money is no problem.

Let me rephrase my wording a bit.

I don't like my job, but its super chill. Clock out 40 hours a week. Never pushed to work more.
Manager is super chill, can take any time of year off for any vacation. My Vacation time will be pushed up to 20 days after one more year.

I don't think doing a trial week would be an option, as I would have to quit my current job to do so.

New Job is coincidentally the exact same distance from my home. 7.9 miles.

I have no real motivation to climb higher in my corporate ladder...I am a senior accoutant, and will likely be come a manager in 2-3 more years at the current company.

After that, I don't think the trade off of stress vs pay raise will motivate me to achieve any higher.

My friend still wants me to come in for the interview this friday, so i will let you know what happens.

svndezafrohman

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Re: When is it worth it to take the job offer?
« Reply #5 on: October 27, 2015, 02:13:32 PM »
Also, regarding using my new postion for a raise, wouldn't that just tell my employer that I am interested in leaving?

Even if they do give me a raise, wouldn't that tell them, I am not happy where I am?

How would you go about asking for a raise using the other job offer as leverage?

WingsFan4Life

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Re: When is it worth it to take the job offer?
« Reply #6 on: October 28, 2015, 02:14:19 PM »
Also, regarding using my new postion for a raise, wouldn't that just tell my employer that I am interested in leaving?

Even if they do give me a raise, wouldn't that tell them, I am not happy where I am?

How would you go about asking for a raise using the other job offer as leverage?

I would say that you were offered an interview without looking for a new job and realized your market value is higher than you realized.

Personally, I don't recommend using another job offer as leverage. Just leave, or ask for a raise based on merit.

svndezafrohman

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Re: When is it worth it to take the job offer?
« Reply #7 on: October 28, 2015, 02:21:57 PM »
Exactly, i feel like my only two options are to leave or stay. I don't feel comfortable using my job offer as leverage at this point.

I got a reply back that they are willing to offer $70K. Its a pretty big pay bump from where i am currently at.

Still...not sure if money is worth it to make the switch.

Schaefer Light

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Re: When is it worth it to take the job offer?
« Reply #8 on: October 28, 2015, 02:32:55 PM »
I would try to get as much information as possible about the new job before making a decision.  You don't want to go from working 40 hours a week to working 50-60.  And I would always be hesitant to walk away from a job I enjoyed (or at least didn't dislike).  It's not worth the money to have a job that you hate...unless we're talking crazy money like 2x your current salary.

mandy_2002

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Re: When is it worth it to take the job offer?
« Reply #9 on: October 28, 2015, 02:40:18 PM »

New Job is coincidentally the exact same distance from my home. 7.9 miles.


Is it a different direction with a different traffic flow?  I know where I live (east bay of San Francisco), 8 miles in one direction takes 7 minutes, while 8 miles in 3 other directions takes 30-45 minutes in normal morning commute traffic. 

Uturn

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Re: When is it worth it to take the job offer?
« Reply #10 on: October 28, 2015, 02:52:49 PM »
Which job is more likely to get you were you want to be?  Is one going to get you closer to a financial or career goal?  For instance, I've taken jobs that I knew I wouldn't like, but it got me the experience to get to one that I do like. 

Job satisfaction goes a long way.  I'm sometimes willing to take a bit less in order to enjoy work more.

There is also something to be said about not being highest paid when layoff time comes.  Two workers who produce the same, but one is paid more.  Who makes the layoff list?  You might be in a field where this doesn't matter much. 

How long have you been in your current job, and would leaving make you seem like a job hopper? 

Would leaving burn a bridge that you might need to cross back over some day? 

svndezafrohman

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Re: When is it worth it to take the job offer?
« Reply #11 on: October 28, 2015, 02:53:14 PM »
I live in OC so no traffic for me. Traffic is not a factor when considering the job change since both will take the same amount of time.

svndezafrohman

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Re: When is it worth it to take the job offer?
« Reply #12 on: October 28, 2015, 02:59:00 PM »
Which job is more likely to get you were you want to be?  Is one going to get you closer to a financial or career goal?  For instance, I've taken jobs that I knew I wouldn't like, but it got me the experience to get to one that I do like. 

Job satisfaction goes a long way.  I'm sometimes willing to take a bit less in order to enjoy work more.

There is also something to be said about not being highest paid when layoff time comes.  Two workers who produce the same, but one is paid more.  Who makes the layoff list?  You might be in a field where this doesn't matter much. 

How long have you been in your current job, and would leaving make you seem like a job hopper? 

Would leaving burn a bridge that you might need to cross back over some day? 

Career Goal: No Idea, accounting is a pretty bland job. As Long as I am content with manager / Co-workers. (More reason to reach FIRE ASAP.)
Current Job title: Senior Accountant
Time at current job: Almost 3 years. Will turn 3 in december.
Would Leaving burn bridge: no idea...

WingsFan4Life

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Re: When is it worth it to take the job offer?
« Reply #13 on: October 29, 2015, 09:35:41 AM »
Which job is more likely to get you were you want to be?  Is one going to get you closer to a financial or career goal?  For instance, I've taken jobs that I knew I wouldn't like, but it got me the experience to get to one that I do like. 

Job satisfaction goes a long way.  I'm sometimes willing to take a bit less in order to enjoy work more.

There is also something to be said about not being highest paid when layoff time comes.  Two workers who produce the same, but one is paid more.  Who makes the layoff list?  You might be in a field where this doesn't matter much. 

How long have you been in your current job, and would leaving make you seem like a job hopper? 

Would leaving burn a bridge that you might need to cross back over some day? 

Career Goal: No Idea, accounting is a pretty bland job. As Long as I am content with manager / Co-workers. (More reason to reach FIRE ASAP.)
Current Job title: Senior Accountant
Time at current job: Almost 3 years. Will turn 3 in december.
Would Leaving burn bridge: no idea...

I am a plant accountant, so I know what you mean by bland. I barely do anything, except month end. I just accepted an offer as a cost analyst that will cut my commute in half and give me a 12% raise. I am pretty stoked because I use to be a cost accountant that was much more interesting than my current role. I am sure it will be a more fulfilling job.

Emg03063

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Re: When is it worth it to take the job offer?
« Reply #14 on: October 31, 2015, 02:50:53 AM »
Keep the PTO factor in mind.  20 days is a lot more than 15.  Will the new place meet or beat?

svndezafrohman

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Re: When is it worth it to take the job offer?
« Reply #15 on: October 31, 2015, 12:14:20 PM »
Yes will let you guys know what happens monday.

They still want me to come in to meet with the CEO and CFO.

Lets see what their offer is and then I will make my decision.

svndezafrohman

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Re: When is it worth it to take the job offer?
« Reply #16 on: November 05, 2015, 04:21:44 PM »
Ok they gave me an offer. $75K plus 5K signing bonus.

But from the interview it seems like you are expected to work long hours.

Plus I only get 10 days of annual leave.

Thoughts?

jeromedawg

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Re: When is it worth it to take the job offer?
« Reply #17 on: November 05, 2015, 04:36:06 PM »
Ok they gave me an offer. $75K plus 5K signing bonus.

But from the interview it seems like you are expected to work long hours.

Plus I only get 10 days of annual leave.

Thoughts?

Wow, 10 days is barely anything (compared to what you have now). What about sick time and holidays? How are the rest of the benefits? That's a decent bump in salary but if they're going to work you way harder, it may not be worth it (unless you only plan to get on board strictly for experience aside from the pay). I would list everything out in a matrix or side-by-side list for comparison and rank and mark what's more important to you. Right now, despite the bump in salary, personally I don't know if it would be enough for me to justify getting worked like a dog (which is kinda what it sounds like). *Especially* if the rest of the benefits aren't as good as what you may have now.
« Last Edit: November 05, 2015, 04:49:22 PM by jplee3 »

svndezafrohman

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Re: When is it worth it to take the job offer?
« Reply #18 on: November 05, 2015, 06:25:17 PM »
Yes, I would say Work Life Balance is #1 in my priority.
The Salary bump is nice, but honestly speaking, money doesn't interest me much.
I feel if I take this new job, it will lead to more opportunity and better experience, but i would be miserable working the long hours.

I just feel like i'm just trying to talk myself out of it now.

jeromedawg

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Re: When is it worth it to take the job offer?
« Reply #19 on: November 05, 2015, 07:06:02 PM »
Yes, I would say Work Life Balance is #1 in my priority.
The Salary bump is nice, but honestly speaking, money doesn't interest me much.
I feel if I take this new job, it will lead to more opportunity and better experience, but i would be miserable working the long hours.

I just feel like i'm just trying to talk myself out of it now.

If you can stick it through in the "short-term" (e.g. 1-2 years) then go for it if you think the experience will lead to more opportunity. If you maintain a good working relationship with your current manager and coworkers, it could lead to an even better opportunity at your current place. I've seen this on different occasions where if you excel at your current job, and then leave, your former employer will *beg* for you to come back. Never a guarantee but just depends on how vital you are to company functions.

rmendpara

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Re: When is it worth it to take the job offer?
« Reply #20 on: November 05, 2015, 08:36:26 PM »
Up to you.

I'd take a 25% raise, but if that money doesn't change your life or make you any happier in the short or medium term (or long term), then what good is it?

Bearded Man

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Re: When is it worth it to take the job offer?
« Reply #21 on: November 05, 2015, 11:12:05 PM »
That's not worth the switch. You could try it for a week usung vacation time...

Murse

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Re: When is it worth it to take the job offer?
« Reply #22 on: November 05, 2015, 11:18:43 PM »
Nah, stay with your current job. You are having no problem saving a stash with your current income and have good work life balance. My opinion is the risk does not outweigh the reward.

svndezafrohman

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Re: When is it worth it to take the job offer?
« Reply #23 on: November 06, 2015, 08:35:51 AM »
Well, today I am going to talk to my boss and see if they will give me a raise or counter offer.

Will see how that goes.

Time to check if I really am valuable to to the company...

JLee

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Re: When is it worth it to take the job offer?
« Reply #24 on: November 06, 2015, 08:45:44 AM »
Ok they gave me an offer. $75K plus 5K signing bonus.

But from the interview it seems like you are expected to work long hours.

Plus I only get 10 days of annual leave.

Thoughts?

Wow, 10 days is barely anything (compared to what you have now). What about sick time and holidays? How are the rest of the benefits? That's a decent bump in salary but if they're going to work you way harder, it may not be worth it (unless you only plan to get on board strictly for experience aside from the pay). I would list everything out in a matrix or side-by-side list for comparison and rank and mark what's more important to you. Right now, despite the bump in salary, personally I don't know if it would be enough for me to justify getting worked like a dog (which is kinda what it sounds like). *Especially* if the rest of the benefits aren't as good as what you may have now.

Yeah, pretty much this.

If you're expected to work 50 hour weeks, that's 500 hours of OT a year, or the equivalent of $21,634.62 at your current hourly rate.

svndezafrohman

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Re: When is it worth it to take the job offer?
« Reply #25 on: November 06, 2015, 09:14:36 AM »
Any other accountants out there?
Does the type of industry your in make a lot of difference?
I really wanted to work with more people my age for my next job, but it seems like the new company is filled with middle aged people.
Currently, I work in a company which is pretty much 90% married middle aged women.
I really have no one to talk to as the only guy in the finance team.
Does this make any difference in my job selection?

svndezafrohman

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Re: When is it worth it to take the job offer?
« Reply #26 on: November 13, 2015, 02:46:55 PM »
Final offer from Current Company: $65K, Extra week of vacation. So in total 4weeks of vacation.
Final Offer from New Company: $75K, 2 weeks of vacation. Probably alot more hours and stress.

Verdict???

Gotta think about during the weekend.

Totemic

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Re: When is it worth it to take the job offer?
« Reply #27 on: November 13, 2015, 02:56:00 PM »
In my opinion, stay where you are. You're getting a 5k raise, that's amazing!

Bearded Man

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Re: When is it worth it to take the job offer?
« Reply #28 on: November 13, 2015, 03:19:05 PM »
Final offer from Current Company: $65K, Extra week of vacation. So in total 4weeks of vacation.
Final Offer from New Company: $75K, 2 weeks of vacation. Probably alot more hours and stress.

Verdict???

Gotta think about during the weekend.

I wouldn't do it. I've been in this boat before. Given the choice to do it over, I'd probably elect to stay where I was. Less work, less stress. You NEVER know what you will be getting into. I'd say unless you get a HUGE offer somewhere else that you deem worth it, stay here until the job ends or circumstance change (it turns into crap). Once it's time to switch, then it will be a no brainer. Escape a bad place and get a potentially better place with a huge pay increase.

Then again, I see this as a guy who made his money and less stress, being able to work for a few more years to let assets compound, is more important than getting more money. I'm looking at taking a pay cut right now for better long term opportunities.

Kaikou

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Re: When is it worth it to take the job offer?
« Reply #29 on: November 13, 2015, 11:18:58 PM »
stay

TheDudeReturns

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Re: When is it worth it to take the job offer?
« Reply #30 on: November 14, 2015, 02:13:18 AM »
You have $250k. Why aren't you "retired" already?

rockstache

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Re: When is it worth it to take the job offer?
« Reply #31 on: November 14, 2015, 05:05:05 AM »
Definitely stay with the current company! Quality of life matters.


albireo13

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Re: When is it worth it to take the job offer?
« Reply #32 on: November 14, 2015, 05:22:46 AM »
For only $10k more a year I would stay.   Not worth it.
Start enjoying life more at home with the extra vacation instead.

TomTX

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Re: When is it worth it to take the job offer?
« Reply #33 on: November 14, 2015, 11:32:54 AM »
The two weeks of vacation is (nominally) worth about $3,000. So, $7k difference

Plus your work is chill. 40 hour weeks. How many 50-60 hour weeks does it take to eat up that $7k? Could you make that much on a chill side hustle? Tax prep or something?

JLee

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Re: When is it worth it to take the job offer?
« Reply #34 on: November 14, 2015, 11:56:59 AM »
Final offer from Current Company: $65K, Extra week of vacation. So in total 4weeks of vacation.
Final Offer from New Company: $75K, 2 weeks of vacation. Probably alot more hours and stress.

Verdict???

Gotta think about during the weekend.

For two extra weeks time off and fewer hours, I would stay.

svndezafrohman

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Re: When is it worth it to take the job offer?
« Reply #35 on: November 14, 2015, 01:11:07 PM »
Like you guys said the added stress and work hours don't seem like it'd worth the extra money.  I figure I can reach my 500k goal  within the next 5 to 7 years so I might as well stay with the company that's gives great vacation time. 

I also get an extra birthday holiday.  Plus another floating holiday I get to use anytime during the year.  Add my 5 sick days and I get 27 days off per year. 

Hey It's Me

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Re: When is it worth it to take the job offer?
« Reply #36 on: November 16, 2015, 12:35:13 AM »
Like you guys said the added stress and work hours don't seem like it'd worth the extra money.  I figure I can reach my 500k goal  within the next 5 to 7 years so I might as well stay with the company that's gives great vacation time. 

I also get an extra birthday holiday.  Plus another floating holiday I get to use anytime during the year.  Add my 5 sick days and I get 27 days off per year.

WOW, that is a truly bad-ass PTO policy. If you planned that well (and got approval), you could take off nearly two months of work per year!

svndezafrohman

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Re: When is it worth it to take the job offer?
« Reply #37 on: November 16, 2015, 10:10:41 AM »
Yep, it is a pretty good PTO policy. I usually spread my sick time throughout the year so it doesn't look too suspicious. But getting 20 days of PTO when i only started working at this company 3 years ago is pretty sweet.