Author Topic: When to take a pay cut?  (Read 2180 times)

Murse

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When to take a pay cut?
« on: October 20, 2016, 08:52:42 AM »
Okay, here's the deal, I don't mind my job all that much. The biggest con for me is the schedule (5 8's, work holidays, and shift worked is based on seniority, currently swing with Tuesday Wednesday off.)

When I was in school I did a clinical rotation at a dialysis clinic. The nurses there had the best schedule in my opinion. Day shift, 12 hour shifts, Sunday's/holidays off. Alternating 3 12s and 2 12s for a total of 30 hours per 2 week period.

my current base pay is around 6300$/month with 200-400$ in differentials depending on the month. I get 6% into a pension that will vest after 5 years (been here 6 months) and 6% into a retirement account. They also pay 95% of my health insurance. I also get 3 weeks vacation and 12 days sick

The con of the dialysis clinic is that the pay is lower (guesstimating around 30$/hour) and less hours for a total guesstimated pay at around 47k/year. Minus a bit for paying more of the benefits share.

Current expenses are around 15k/ year (plan on getting married and a house and losing a roommate relatively soon so it will go up) and my net worth has gone up 4-5k/month since starting this adventure. Current net worth just over 50k. Wwyd?




mozar

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Re: When to take a pay cut?
« Reply #1 on: October 20, 2016, 09:30:01 AM »
I would stay put. Do the hard stuff when you're young and have more energy.  You can always get a better schedule later.

tawyer

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Re: When to take a pay cut?
« Reply #2 on: October 20, 2016, 09:32:23 AM »
I struggle to make a clear comparison with the information presented here, so I would create a table comparing every aspect of "compensation" and add the elements up to create a final score for each option. For each element of compensation, define how much each element is worth to you, for example, how much do you value an extra day off? At the end, you will be able to see the cost of that different schedule to you. I would then ask myself "is that different schedule worth $X/year to me?

I would take the job that only has day shifts, because the long-term deleterious effects of night/swing shifts are widely known, and I choose to place a high value on my health.