Moved to new state/job 6M ago. Previous employer wants me back!

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sunny_socal
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Moved to new state/job 6M ago. Previous employer wants me back!

Post by sunny_socal »

I moved from CA to TX about 6 months ago. I liked the old job but things had really dried up and all projects were killed. I endured about 6 months of doing nothing before I left (ie. I would have been sitting around for about a year had I never left.) I'm in ASIC engineering.

Anyway, all settled in at the new place now, just finished unpacking the last boxes and have a brand new house. Then I get a message from my old boss offering my old job back! And he calls me on a Saturday to briefly discuss and make sure I got the message.

New (existing job)
- Very mundane work, not even something I can put on my resume. I'm busy with about 5h of meetings per day but no design activity.
- Company paid for my relocation, cost was $37k of which I received $18k as cash. Must pay it all back if I leave within two years!
- Nice people, relatively low stress.
- Four weeks of paid time off per year, cannot accrue. Granted at the start of the year.
- Very good 401k (7% match at 100%), fairly good health insurance
- $170k salary with potential 10% bonus, no stock
- Future prospect: No promotion due to flat company structure, pay increase likely 3%/year (COLA), pace of life likely always slow
- Very stable company. I could stay here for the rest of my career if I don't mind the slow pace.

Old job (with prospect of return)
- Supposedly a brand new project being started in a hot field (AI)
- Very interesting work. Interface with many different engineering disciplines, much more responsibility, plenty of design.
- More stress mostly due to job complexity, but old boss and colleagues were great!
- I mentioned the 'poison pill' I'm facing with current (new) employer, boss assured me they could work something out
- 4 weeks PTO/year, must be accrued
- Good 401k (5% match at 100%), excellent health insurance (eg. 100% of kid's braces, new glasses every year)
- $180k salary with typical 15% bonus, annual stock grant worth about another 15%
- Employer has a local office about 10min up the road from current employer

Family situation
- Two kids in high school. Asked them what they thought, they don't want to move again. First time was bad enough!
- Wife doesn't want to move, likes it out here. Just started making new friends and feeling settled. Loves the weather!
- In-laws live in CA. Would likely go see them 2-3 times a year anyway
- My age almost 50. Feeling like my career took a nosedive with the new job although family life improved (far better schools, slightly shorter commute, a little more time off)
- Still own our old home in CA but we're renting it out. We were planning on keeping it as income property during retirement

So the new (old) job is looking somewhat attractive but a move back to CA is not. IF I decide to discuss further with old employer it might look something like this:
- I'd like to come back but only if I can work out of TX. Willing to fly back as necessary for face time.
- Want my old salary and seniority restored
- Company wipes out my $37k poison pill
- Push for additional hiring bonus?
- Push for promo? (Promo at old place almost impossible to get unless you leave & later return)

Anything else to consider?
awval999
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by awval999 »

There's nothing to consider.
You answered the question in your OP.
I really doubt they are going to pay you that much to work remotely.

Family situation
- Two kids in high school. Asked them what they thought, they don't want to move again. First time was bad enough!
- Wife doesn't want to move, likes it out here. Just started making new friends and feeling settled. Loves the weather!
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Johnsson
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by Johnsson »

Plan to stay where you are.

Develop a list of EVERYTHING you AND YOUR FAMILY will need to move back.

Negotiate knowing you'll stay where you are unless your needs are met (at least until kids graduate HS).

Continue maxing out retirement and savings... ageism and retirement will soon be upon you.
'In theory there is no difference between theory and practice. In practice there is.' Yogi Berra
TroutMD
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by TroutMD »

Give in to the family, they are being smart.

Texas >>>>>> Cali.


Welcome to the Great State of Texas.
SrGrumpy
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by SrGrumpy »

Furious wife and kids has to add at least $2.5 million to the calculation. You made your bed, alas. Now "Sunny SoCal" is just a distant memory.
PaunchyPirate
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by PaunchyPirate »

I would not relocate again in this situation. Family first. Tell the previous employer you need to work from the Texas office with periodic travel to CA as needed. But be aware this could turn into you going to CA every week for the entire week. I would set some level of reasonable travel limits. I would remind your former employer that you left for good reasons. In order to get you back, I would not ask for the same salary. They need to pay you more. I wouldn't put it in the form of a hiring bonus. It should be in a salary increase to match and exceed what you are making now so that you will get the money every year. You could ask for the $37k as a signing bonus to recoup the moving expenses you would have to pay back to the current employer.
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ResearchMed
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by ResearchMed »

PaunchyPirate wrote: Sun Feb 17, 2019 11:09 am I would not relocate again in this situation. Family first. Tell the previous employer you need to work from the Texas office with periodic travel to CA as needed. But be aware this could turn into you going to CA every week for the entire week. I would set some level of reasonable travel limits. I would remind your former employer that you left for good reasons. In order to get you back, I would not ask for the same salary. They need to pay you more. I wouldn't put it in the form of a hiring bonus. It should be in a salary increase to match and exceed what you are making now so that you will get the money every year. You could ask for the $37k as a signing bonus to recoup the moving expenses you would have to pay back to the current employer.
IF you go a route that includes being reimbursed for moving expenses (is it only the cash, or also what the company paid?)... that money might be taxable. Adjust the amount accordingly.

Good luck.

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TxAg
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by TxAg »

Welcome to Texas. Stay put.
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8foot7
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by 8foot7 »

Would not drag two high schoolers through another move. Wife could probably get over it if she is not in a decent paying job now or is stay at home, but those are really formative years for a child.
dbr
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by dbr »

From what you say moving back to California is not on the table. So the only question is whether or not it is realistic to work your old job from the location in Texas. Is that realistic? Note this is not a negotiation. Working in Texas on a job that is actually performed in California is not going to work even if everyone might like it to.
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by KlangFool »

awval999 wrote: Sun Feb 17, 2019 9:08 am There's nothing to consider.
You answered the question in your OP.
I really doubt they are going to pay you that much to work remotely.
awval999,

A) It really depends on the nature of the job and culture of the company. I telecommute from Asia with my US job for many years.

B) In my current employer, many of the senior technical folks worked from home.

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mighty72
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by mighty72 »

I think you need a list of impact of moving back on the following with each having it column side by side:
1. family
2. professional advancement
3. financial

Then prioritize within each column & then across all columns. Show it your wife and listen.

I made a move within Bay Area for a company which is very engineering driven, lots of exciting work (get to do a lot of things), etc to a company which is sales driven, you work only on a small area, etc. As an engineer, I would be happier in the former but holistically, I prefer the latter. I get more time with family, my commute is cut down to 2/3, etc.

If you can get work from TX option it is great. I have to warn you though, remote workers take a backseat when it comes to promotions, bonuses, etc if most of the group is onsite. This is my experience
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by Jack FFR1846 »

Uh.....no. Minimum in my mind would be $100k signing bonus and an extra $100k on salary. No....really. I'm serious.
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SimonJester
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by SimonJester »

I'd stay put with the new job, you said returning to the old job would be more stress. Traveling to Socal multiple times a month will add to that stress both on you and your family.

"Supposedly a brand new project being started in a hot field (AI)"

This doesn't sound super promising, the new project could never materalize, could not take off and be canceled after six months?
"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin
Quantumfizz
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by Quantumfizz »

If they want you back, they are either willing to pay the price or they are not. Ask them for 2x salary, maybe they meet you at 1.5x, otherwise, sounds like the play is to stay in the current spot.
mortfree
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by mortfree »

I think your only option if you want to work at the old company is to work out an arrangement where you go there Tuesday to Thursday and rent a hotel room. Then work Mondays and fridays from home.

You really can’t move the family, again.
28fe6
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by 28fe6 »

Do not go back.

You won this one, handily. If you moved from CA to TX without substantial paycut, you just pulled off the coveted geographic arbitrage. Do not be stupid and throw it away. Do not go back for less than 50% raise, AND bonus, AND severance, AND remote work. Maybe!. You probably know this is not likely they will offer that. They are only fishing. Ergo, there's no practical possibility of going back.

Do nothing for the next 1-2 years except learn the new job, build relationships, and look for opportunities to add value.
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KlingKlang
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by KlingKlang »

You quit the old company because "things had really dried up and all projects were killed". Now the old company has ONE (?) new project. What happens when that one dries up?
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Watty
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by Watty »

sunny_socal wrote: Sun Feb 17, 2019 9:05 am - Very good 401k (7% match at 100%), fairly good health insurance
- $170k salary with potential 10% bonus, no stock

Old job (with prospect of return)
- Good 401k (5% match at 100%), excellent health insurance (eg. 100% of kid's braces, new glasses every year)
- $180k salary with typical 15% bonus, annual stock grant worth about another 15%
Be sure to factor in taxes, I would suspect that after taxes and housing costs you would be taking a big pay cut to go back. :oops:

Be sure to look at the vesting schedule of your new jobs 401k. Most likely the new employers match is not vested and you would lose that. If you are rehired you may also have to restart the vesting schedule of your new employers 401k. If you are laid off from that job in three years then any severance may just be based on three years of employment and the 401k match may not be fully vested.
sunny_socal wrote: Sun Feb 17, 2019 9:05 am Family situation
- Two kids in high school. Asked them what they thought, they don't want to move again. First time was bad enough!
- Wife doesn't want to move, likes it out here. Just started making new friends and feeling settled. Loves the weather!
I did a corporate relocation when my son was in middle school and it was hard on him. I would give a lot of weight to what your kids want since they are in high school.

You also have to consider what the state universities are like if they are likely to go to a state university.

I have moved several times but when I was in my 20's I lived in the Bay Area and one thing that I saw was that some of my older coworkers has adult children that were well into their 20's that were still living with them and that was not always a good situation. The problem was that the kids did not have high paying jobs and they could not afford an apartment even with roomates.

You should try to picture what living in California will be like for your kids when they are in their 20's if you you would be in an expensive area of California.

In contrast I am in Atlanta now where housing is still reasonable. I have a 30 year old son who is doing well in his career and he and his wife were able to afford to buy a nice house about ten minutes away from us so we frequently get to see our two grandkids. We also have some friends who have a son who is severely dyslexic and barely graduated from high school. At one point he was working in a chain muffler shop which is a good honest job but I am sure that it did pay a lot. Even on his income he was able to afford to buy a small older home that is in marginal but not terrible area.

Atlanta probably isn't where I would have chosen to live if it was not for the corporate relocation but it has worked out well for me and my family. I suspect that since your wife and kids want to stay there that Texas could work out well for you too.
sunny_socal wrote: Sun Feb 17, 2019 9:05 am Still own our old home in CA but we're renting it out. We were planning on keeping it as income property during retirement
You should start another thread with the details to ask about that. Whenever people have posted the "Should I keep my old house as a rental?" question it rarely turns out to be a good idea.

A huge factor is that if you have a lot of capital gains in that house you will likely qualify for the homeowners capital gains exclusion and not have to pay federal income taxes on a half a million dollars in capital gains. If you rent the house much longer you will lose that. If you have a burning desire to own rental property in California then in some situations it would make sense to sell that house and buy the identical house next door.

Depending on where it is at in California you also need to be careful about the earthquake risk. If it has even minor earthquake damage but is still "livable" the renter will still likely move out so you will have no rental income. If were living there then you could likely repair a lot of earthquake minor damage yourself too. Not being able to hire a contractor after a major disaster is often a big problem. After a disaster things like federal assistance or low interest loans are often just available for owner occupied homes. The risk of earthquakes is a lot different for an investment property so you need to consider that.
Jags4186
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by Jags4186 »

I’m shocked you’d even consider this for $10k. You can drive Uber and make an extra $10k in the time you’d spend flying back and forth to CA.
JD2775
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by JD2775 »

I don't understand this. The new job is mundane with poor future prospects. Why did you take this position/move in the first place?

i agree with the others though, you are there now. Stay put. At least until the kids are out of high school
MathWizard
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by MathWizard »

Family aside, going back is a bad career move. Had the old company wanted to keep you, they would have done what they could to retain you.

To go back rewards them for not looking out for you, and you will be in a worse spot when the next project dries up.

Look forward, not back, and make the most of your new job.

With that many meetings, it sounds like you may have a more managerial role. Having needed to move to such a role myself, I sympathize that it is not as exciting. I solve the occassional technical problem myself, just because it is interesting, and I get sense of accomplishment, but I am trying to make sure I do my (more boring) job and let my subordinates do theirs.
gotester2000
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by gotester2000 »

At 50, family and stability matters more than an exciting project whose future is unknown.
niceguy7376
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by niceguy7376 »

If OP takes the CA company job but works remote from TX, would he be charged income taxes on CA or TX (no income tax)?
That extra 10K in salary (as currently proposed) would be eaten by CA state taxes if counted as CA based. In that case, I do NOT see any benefit of even the remote option.
rooms222
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by rooms222 »

niceguy7376 wrote: Sun Feb 17, 2019 12:52 pm If OP takes the CA company job but works remote from TX, would he be charged income taxes on CA or TX (no income tax)?
That extra 10K in salary (as currently proposed) would be eaten by CA state taxes if counted as CA based. In that case, I do NOT see any benefit of even the remote option.
California is not one of the five telecommuter tax states, so that would probably be ok. https://www.thetaxadviser.com/issues/20 ... uting.html
https://help.zenefits.com/Payroll/Learn ... Employees/
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Watty
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by Watty »

niceguy7376 wrote: Sun Feb 17, 2019 12:52 pm If OP takes the CA company job but works remote from TX, would he be charged income taxes on CA or TX (no income tax)?
That extra 10K in salary (as currently proposed) would be eaten by CA state taxes if counted as CA based. In that case, I do NOT see any benefit of even the remote option.
Another problem with working remotely is that as time goes by they may be expected to spend more time in CA. Flying out to CA Sunday night and returning to Texas Friday evening will get old real quick.
Nissanzx1
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by Nissanzx1 »

I wouldn’t consider moving back for even one second. Grow where you are planted. This stuff is napalm for marriages/kids.

I probably would look at other jobs in Texas in your current community after the 2 years elapses.
BanditKing
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by BanditKing »

Assuming going back fully appeals:

They pay off the poison pill, including grossing up any taxes
They let you work out of the local office. Offer 1 week in 4 to go to CA for face-to-face - company pays travel and lodging costs and a perdiem.
Salary at least 20% more than the greater of your old position or current one
Retain full vesting in 401k and vacation accrual.

I wouldn't move back though, if they family is against it.
Hockey10
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by Hockey10 »

Stay put and change your Bogleheads name to sunny_texas.
DrGoogle2017
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by DrGoogle2017 »

Take the new job, but staying in Texas. Tell old boss, your family is not ready to upgrade again.
onourway
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by onourway »

Doesn’t seem like the pay offered in CA is even enough more to cover the taxes, not to mention the COL or the fact that your dead company now has a single project. Even forgetting your family (which is actually the most important consideration) I don’t see how this would be a good move.
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by Teague »

You say you're renting out your old CA home. If you move back to CA, how do you plan to get the current renters out? My understanding is that if they do not want to go, that could be pretty difficult.
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by Bacchus01 »

My rule of thumb has always been to never take a job for less than 25% more than you make now. It’s worked well for me. The cost of change is high. This situation is a little unique, but you are the one with the leverage.

Do not move back to California unless the family wants to and it sounds like they don’t.

That fixes one issue.

Then focus on compensation. Get as much as you possibly can. I wouldn’t do it for less than $200.
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by 123 »

Install a gun rack in the back window of your pick-up and consider yourself fully adapted to Texas.
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by Strayshot »

You are 50, how much longer are you planning to work? 5 years? 10 years?

Tell the old company that you are intrigued, but you made the switch and want to give the new company the benefit of the doubt and at least another 6 months (a year on the job). Tell them if the project is going well and they want you back in another 6 months, you will work remotely from Texas but not relocate back to CA and they should give you a call with an offer you can’t refuse.

Kick the can down the road and see what happens. If it were me, I would be working as little as possible and taking a couple final awesome vacations with the family before the kids disappear to college or whatever and the rest of their lives. The new job sounds like a better fit for what I would want at 50. Then again, I am not yet 50, I am already FI, and I will be retired at 49 with kids in middle school so take my opinion with all that in mind.
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by BolderBoy »

sunny_socal wrote: Sun Feb 17, 2019 9:05 am I moved from CA to TX about 6 months ago.

- Two kids in high school. Asked them what they thought, they don't want to move again. First time was bad enough!
- Wife doesn't want to move, likes it out here. Just started making new friends and feeling settled. Loves the weather!
Where in Texas did you move?
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Rest Assured
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by Rest Assured »

  • You and your family relocated half a year ago.
  • The new company paid for your relocation, signalling that they'd really like for you to stay.
  • The perks offered at the new company seem to be very good to excellent.
  • Brand new projects can fail. And often do.
  • How would it feel for you to pass by the office of current employer every day while on the way to the office of former employer?
  • You're almost 50 and your family life has improved considerably.
  • Both companies seem interested in keeping you. Very good.
  • Renting out your old home is an extra source of income.
  • What would working half a year at a company, then leaving look like on your CV? Flip-flopping is frowned upon.
I'd stay at the new company, but make it clear to my former boss that I am open to suggestions a few years down the road.
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by DarkHelmetII »

SimonJester wrote: Sun Feb 17, 2019 11:37 am "Supposedly a brand new project being started in a hot field (AI)"

This doesn't sound super promising, the new project could never materalize, could not take off and be canceled after six months?
Agreed on the "AI" carrot, assuming this means "artificial intelligence." There's a ton of people / organizations claiming to be doing the latest in AI but when you pop the hood and see what is actually happening, often not very impressive. This, among other reasons, causes me to not get too excited about going back.
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by bltn »

KlingKlang wrote: Sun Feb 17, 2019 12:07 pm You quit the old company because "things had really dried up and all projects were killed". Now the old company has ONE (?) new project. What happens when that one dries up?
That was my question after reading the op. The old company doesn t seem as stable as the new one.
Stay where you are, home and job wise.
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F150HD
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by F150HD »

I moved from CA to TX about 6 months ago. I liked the old job but things had really dried up and all projects were killed. I endured about 6 months of doing nothing before I left (ie. I would have been sitting around for about a year had I never left.) I'm in ASIC engineering.

Anyway, all settled in at the new place now, just finished unpacking the last boxes and have a brand new house. Then I get a message from my old boss offering my old job back! And he calls me on a Saturday to briefly discuss and make sure I got the message.
why are you suddenly important 6 months after you left? if they wanted you to stay, that conversation should've occurred 6 months ago. This is the internet, but this seems kind of disrespectful (of your old boss) in a way.

IMO stay put.
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j9j
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by j9j »

Give your new job and your family at least 6 more months. A good chance that old job wont look appealing at all.

PS - Texas is a nice place
deikel
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by deikel »

You left your old company for a reason - which was what exactly ?

I am not a believer of counteroffers or hiring back people that have left before, I have seen it happen many times and only once did it work out - they all left a second time or were let go. Statistically, 50% of re-hired / counteroffered people leave within a short time frame - I think you will gamble on this one.

Ask yourself why no one in your old company wants to do this great new project that would look great on anyone's CV ?
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sunny_socal
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by sunny_socal »

Thanks for the feedback y'all!

Told the old company I'm not interested in moving back. They're now deciding whether they'd let me work out of the local TX office instead while working on the CA-based project. This is feasible since I've seen other people do it, but it depends on how much interaction there would be with other teams.

Anyway all of this seems unlikely to make me want to take any offer. I think it might be a bad career move to leave a local company 6M after joining and hence burn many bridges! A career isn't built only around the things I've learned, the products I build or the money. I'm not into "networking" but I do value my relationships. If I look 5-10 years down the road I'm more likely to have a stable career in my new town by putting some good years into my current position and getting to know people.
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fizxman
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by fizxman »

rooms222 wrote: Sun Feb 17, 2019 1:09 pm
niceguy7376 wrote: Sun Feb 17, 2019 12:52 pm If OP takes the CA company job but works remote from TX, would he be charged income taxes on CA or TX (no income tax)?
That extra 10K in salary (as currently proposed) would be eaten by CA state taxes if counted as CA based. In that case, I do NOT see any benefit of even the remote option.
California is not one of the five telecommuter tax states, so that would probably be ok. https://www.thetaxadviser.com/issues/20 ... uting.html
https://help.zenefits.com/Payroll/Learn ... Employees/
OP said that the CA company has an office in TX, so taxes won't be an issue.

See what they say about working in Texas. If it's possible, have them make you an offer. If it's a good offer, have them bid against themselves by stating your issues switching back six months after starting your new position, the relocation costs needing to be reimbursed (if you haven't mentioned that to them yet) and any other issues you may have. Perhaps they will increase their offer. If not, you can either accept their good offer or stay put.

To state the obvious, only go back if you'll come out ahead of (a) where you were when you left CA and (b) where you are currently. And not just financially.
Saving$
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by Saving$ »

You sound like you are not going to accept the offer from the old company regardless, which in your situation sounds like the absolutely correct decision.

Thus you should give them a call back and explain after consideration, you just can't leave a job you started just 6 months ago that is going well, so you want to save them the trouble they may need to go through to get the remote working approved, etc. This will build goodwill with the people who may need to go to bat for you - you don't want them to cash in favors to make you an offer to work in Tx when you won't take it. You can explain that just as you would not ditch them after 6 month you won't ditch your current employer. Keep the lines of communication open for future possibilities, but don't take the CA job at this time. If you do, you have a high probability of being laid off in 6 months....
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Mel Lindauer
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by Mel Lindauer »

Reading through this thread, staying in TX with your new company sounds like a slam dunk to me.

You got HCOL pay to work in a LCOL location that your family loves. You'll likely reach FI much faster in TX with a lot less stress than you ever would in CA.

My choice would be to stay put and enjoy TX living.
Best Regards - Mel | | Semper Fi
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by haban01 »

Mel Lindauer wrote: Tue Feb 19, 2019 8:29 pm Reading through this thread, staying in TX with your new company sounds like a slam dunk to me.

You got HCOL pay to work in a LCOL location that your family loves. You'll likely reach FI much faster in TX with a lot less stress than you ever would in CA.

My choice would be to stay put and enjoy TX living.
Could not of said it better than Mel!!! :sharebeer
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by random_walker_77 »

Stay w/ the new company. For asic engineering, my experience has been that it's pretty typical to earn ~90% of what you'd make in CA while working in central texas, which after state taxes, is a big win for working in Texas. I don't know why more people don't make the move.

The industry leader for AI chips also has a sizeable office out here, so later on, you could always pursue opportunities with that team.
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by AlphaLess »

Johnsson wrote: Sun Feb 17, 2019 10:36 am Plan to stay where you are.

Develop a list of EVERYTHING you AND YOUR FAMILY will need to move back.

Negotiate knowing you'll stay where you are unless your needs are met (at least until kids graduate HS).

Continue maxing out retirement and savings... ageism and retirement will soon be upon you.
Excellent advice.

If I were in your situation, I would ask for a large up-front sign-on bonus, and DOUBLE the old pay.
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Re: Moved to new state/job 6M ago. Previous employer wants me back!

Post by Grt2bOutdoors »

Stay where you are. If you want excitement, take a trip to Six Flags and ride a rollercoaster. No need to ride the job rollercoaster.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
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