Evaluating New Job Offer

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arm25
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Evaluating New Job Offer

Post by arm25 » Wed Jul 04, 2018 1:47 pm

Hello,

I am evaluating a new Job offer, Here is my situation.

Age: 43
Professional : iT Professional
Base Salary:- 112000
401k Match:- 4.5% of First 6 Percent.
Bonus:- 10%
Employee STock Purchase progream discount:- 15%
PTO- 28 Days
Commute:- 0, Full time Tele-Commuter
I get to work with latest cutting edge technology. Member of Core Technology Team
Industry:- Health care

New Job:-
Base:- 165k
401k Match:- 2.5% of first 5% then nothing
Bonus :- 15% of base
RSU:- 0 cost to employee and 15% of base salary with 6 year vesting period
PTO: 15 days
Commute:- 40 Miles and will take 90 mins each way in traffic
Technology:- old and Legacy Technology and Job role is not member of core technology application

What should i choose? New Job will let me save lot more and quickly meet my retirement goals but current job has better work life balance and i can retire from the company.

MP173
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Re: Evaluating New Job Offer

Post by MP173 » Wed Jul 04, 2018 2:47 pm

3 hours per day in travel.

That would make it a no brainer for me. I enjoy working upstairs at home.

Ed

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bogleblitz
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Re: Evaluating New Job Offer

Post by bogleblitz » Wed Jul 04, 2018 2:56 pm

I guess I'm lucky to have best benefit of both of your jobs.

I would stick with job #1 with latest technology and keep looking.

Dottie57
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Re: Evaluating New Job Offer

Post by Dottie57 » Wed Jul 04, 2018 3:04 pm

bogleblitz wrote:
Wed Jul 04, 2018 2:56 pm
I guess I'm lucky to have best benefit of both of your jobs.

I would stick with job #1 with latest technology and keep looking.
+1. Keeping up with technology is paramount if you want a long work life in the area.
Last edited by Dottie57 on Wed Jul 04, 2018 3:11 pm, edited 1 time in total.

spin_echo
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Re: Evaluating New Job Offer

Post by spin_echo » Wed Jul 04, 2018 3:07 pm

I vote for sticking with your current job. 3hr commute is soul-sucking.

TexasCPA
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Re: Evaluating New Job Offer

Post by TexasCPA » Wed Jul 04, 2018 3:08 pm

I would personally stick with your current position because of the technology exposure and no commute

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TomatoTomahto
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Re: Evaluating New Job Offer

Post by TomatoTomahto » Wed Jul 04, 2018 3:12 pm

I would not consider option #2 unless you’re more than 55 years old. It’s a dead end.
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TxAg
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Re: Evaluating New Job Offer

Post by TxAg » Wed Jul 04, 2018 3:37 pm

MP173 wrote:
Wed Jul 04, 2018 2:47 pm
3 hours per day in travel.

That would make it a no brainer for me. I enjoy working upstairs at home.

Ed
Agreed on the travel. That is unhealthy.

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abuss368
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Re: Evaluating New Job Offer

Post by abuss368 » Wed Jul 04, 2018 4:11 pm

My concern is that 3 hours a day commuting will tire and you may not last long.
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mortfree
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Re: Evaluating New Job Offer

Post by mortfree » Wed Jul 04, 2018 4:14 pm

Skip the commute.

I’ve been commuting 40 miles (one way) for 18 years - it sucks.

Any reason to take the new offer to current employer and see if you can get more $$ ?

3funder
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Re: Evaluating New Job Offer

Post by 3funder » Wed Jul 04, 2018 4:26 pm

MP173 wrote:
Wed Jul 04, 2018 2:47 pm
3 hours per day in travel.

That would make it a no brainer for me. I enjoy working upstairs at home.

Ed
+1.

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gunn_show
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Re: Evaluating New Job Offer

Post by gunn_show » Wed Jul 04, 2018 4:49 pm

MP173 wrote:
Wed Jul 04, 2018 2:47 pm
3 hours per day in travel.

That would make it a no brainer for me. I enjoy working upstairs at home.

Ed
+100% no-brainer decline for me to go from WFH to 3 hours per day travel. Big NOPE. I am not even sure I drive 3 hours a MONTH currently as a WFH tech guy. For real. I was amazed when I filled up my gas tank the other day, how high gas has gotten, I think I last filled up in May.
bogleblitz wrote:
Wed Jul 04, 2018 2:56 pm
I guess I'm lucky to have best benefit of both of your jobs.

I would stick with job #1 with latest technology and keep looking.
+100% me too.

Net net here is... stay in current WFH job and keep looking. If you got this great of an offer already, there are more out there that will allow you to WFH with similar boost in pay. You are an in-demand recruited role, hold out for better. You have all the leverage, trust me.

http://www.kalzumeus.com/2012/01/23/salary-negotiation/
"The best life hack of all is to just put the work in and never give up." Bas Rutten

youngpleb
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Re: Evaluating New Job Offer

Post by youngpleb » Wed Jul 04, 2018 4:58 pm

I agree with the other post that you should try to get a counter offer from your company. It sounds like they treat you well so it seems like a reasonable course of action. Not saying they will match the new salary, but if they give you a 10%-20% raise I think that is the optimal outcome.
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TomatoTomahto
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Re: Evaluating New Job Offer

Post by TomatoTomahto » Wed Jul 04, 2018 5:03 pm

I disagree about trying to get a counter. It’s a bit like saying to Harvard, “Backwater U offered me a full ride; can you match it?”

Overcoming the drag of a legacy job would be almost impossible after a few years.

If an employee came to me seeking such a counter, I’d wish them good luck and (silently) wonder what I ever saw in them.
Zero Net Carbon by 2019.

123
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Re: Evaluating New Job Offer

Post by 123 » Wed Jul 04, 2018 5:10 pm

Just quietly decline the new job offer without trying to get some kind of a counter from your current employer. You likely only have a chance of having the counter-offer routine work once with an individual employer, save it for some occassion where there is really a substantially better offer without the baggage of commuting, etc.
The closest helping hand is at the end of your own arm.

Dottie57
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Re: Evaluating New Job Offer

Post by Dottie57 » Wed Jul 04, 2018 5:24 pm

123 wrote:
Wed Jul 04, 2018 5:10 pm
Just quietly decline the new job offer without trying to get some kind of a counter from your current employer. You likely only have a chance of having the counter-offer routine work once with an individual employer, save it for some occassion where there is really a substantially better offer without the baggage of commuting, etc.
+1

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Stinky
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Re: Evaluating New Job Offer

Post by Stinky » Wed Jul 04, 2018 5:37 pm

abuss368 wrote:
Wed Jul 04, 2018 4:11 pm
My concern is that 3 hours a day commuting will tire and you may not last long.
If you work 8 hours per day, the three hour round trip commute makes it an 11 hour day. And that’s if there’s no accidents, road construction, etc. Kind of screws up any kind of work-Life balance.

Keep looking if you want. But don’t take this new job.
It's a GREAT day to be alive - Travis Tritt

mmmodem
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Re: Evaluating New Job Offer

Post by mmmodem » Wed Jul 04, 2018 5:47 pm

$112000 / (2080 - (28 days PTO x 8)) = $60.34 effective hourly pay

$165000 / (2080 - (15 days PTO x 8) + (3 hours commute x 47 weeks x 5 days)) = $61.91 effective hourly pay

The math says both jobs pay similarly by the hour.

I wouldn't mind driving 3 hours a day for $186. Uber drivers work a whole shift for $200. However, echoing others, your current job pays well enough and meets your needs. If it was a $47k job versus a $100k job, I would take the 3 hour commute. At $112k, I would keep your current job.

Disclaimer: I had a 3 hour commute for 8 years. I'm glad I no longer have to do it.

fanmail
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Re: Evaluating New Job Offer

Post by fanmail » Wed Jul 04, 2018 6:12 pm

Dottie57 wrote:
Wed Jul 04, 2018 5:24 pm
123 wrote:
Wed Jul 04, 2018 5:10 pm
Just quietly decline the new job offer without trying to get some kind of a counter from your current employer. You likely only have a chance of having the counter-offer routine work once with an individual employer, save it for some occassion where there is really a substantially better offer without the baggage of commuting, etc.
+1
Yep. Don’t do that unless you are truly prepared to leave if they don’t play ball.

arm25
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Re: Evaluating New Job Offer

Post by arm25 » Wed Jul 04, 2018 10:20 pm

Thank you every one for great suggestions!

limeyx
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Re: Evaluating New Job Offer

Post by limeyx » Thu Jul 05, 2018 12:01 am

spin_echo wrote:
Wed Jul 04, 2018 3:07 pm
I vote for sticking with your current job. 3hr commute is soul-sucking.
+1 Even more so after we had kids.

Cop51
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Re: Evaluating New Job Offer

Post by Cop51 » Thu Jul 05, 2018 12:36 am

The PTO cut in half is a real game changer if it was me.

tmcc
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Re: Evaluating New Job Offer

Post by tmcc » Thu Jul 05, 2018 6:30 am

mmmodem wrote:
Wed Jul 04, 2018 5:47 pm
$112000 / (2080 - (28 days PTO x 8)) = $60.34 effective hourly pay

$165000 / (2080 - (15 days PTO x 8) + (3 hours commute x 47 weeks x 5 days)) = $61.91 effective hourly pay

The math says both jobs pay similarly by the hour.

I wouldn't mind driving 3 hours a day for $186. Uber drivers work a whole shift for $200. However, echoing others, your current job pays well enough and meets your needs. If it was a $47k job versus a $100k job, I would take the 3 hour commute. At $112k, I would keep your current job.

Disclaimer: I had a 3 hour commute for 8 years. I'm glad I no longer have to do it.
on the surface I'd agree with your comp analysis. however, the company may also have different rules on the PTO ceiling. additionally, if he is in a state where balances don't cap, the analysis changes quite a bit and is not the correct way to evaluate the comp.

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rob
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Re: Evaluating New Job Offer

Post by rob » Thu Jul 05, 2018 7:10 am

The big difference for me is the technology.... As tomato says it's not easy to get back from dead-end legacy, so I would keep looking for a better alternative. The fact your looking means there is something missing in the current role - try and figure out what that is because the analysis you have listed makes it hard to see.

The commute is not ideal but for the right job I would, and have, do something like that.
| Rob | Its a dangerous business going out your front door. - J.R.R.Tolkien

mmmodem
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Re: Evaluating New Job Offer

Post by mmmodem » Thu Jul 05, 2018 7:12 am

tmcc wrote:
Thu Jul 05, 2018 6:30 am
mmmodem wrote:
Wed Jul 04, 2018 5:47 pm
$112000 / (2080 - (28 days PTO x 8)) = $60.34 effective hourly pay

$165000 / (2080 - (15 days PTO x 8) + (3 hours commute x 47 weeks x 5 days)) = $61.91 effective hourly pay

The math says both jobs pay similarly by the hour.

I wouldn't mind driving 3 hours a day for $186. Uber drivers work a whole shift for $200. However, echoing others, your current job pays well enough and meets your needs. If it was a $47k job versus a $100k job, I would take the 3 hour commute. At $112k, I would keep your current job.

Disclaimer: I had a 3 hour commute for 8 years. I'm glad I no longer have to do it.
on the surface I'd agree with your comp analysis. however, the company may also have different rules on the PTO ceiling. additionally, if he is in a state where balances don't cap, the analysis changes quite a bit and is not the correct way to evaluate the comp.
Agreed, the analysis does not fully evaluate the compensation of the two jobs. One could go more in depth on tax rates, additional wear and tear on another car, etc. But the precision is not there to calculate every variable. It would be difficult to put a value on better quality of life versus earlier retirement.

The math above was supposed to show that on the surface the second job seems a lot better as it pays 50% more but a back of the envelope calculation shows that it is only marginal viewed at hourly rates.

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