Picking between two job offers...

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Topic Author
MikeZ
Posts: 336
Joined: Sun Dec 07, 2014 9:17 pm

Picking between two job offers...

Post by MikeZ »

This forum and it's members have always impressed me so much in the thoughtfulness of everyone's contributions. With this I wanted to get everyone's thoughts on a decision I need to make soon:

I am 34, Married with no kids. For a variety of reasons, including general boredom and uncertainty of how much of my skillset fits in with where our leadership wants to go, I have been looking for another job. My current comp is $98k with excellent benefits (Good health insurance, 6% 401(k) match, 5 weeks vacation, etc).

I have received two job offers that I am deciding between. Both are remote positions. Both are offering $115k.

Offer 1: Megacorp Internal Analyst position
Excellent benefits, very similar to what I have now. 3 years to vest in 401(k).
3 weeks vacation.
I would be 2 of 13 people on the team working remote. The rest would be based out of their corporate headquarters. Seems to be career limiting in that regard.
Individual contributor in what seems like a well running team though they seem overloaded to some extent.
Some travels every few months to the headquarters city to meet with the rest of the team.
Seems a very 'old school' culture, which in terms of benefits I like.


Offer 2: Small consulting company.
They are based in Canada but are hiring in the US to support additional contract wins. I would be one of a handful of US staff.
Consulting work traveling to clients sites ~25% of the time and the rest remote. Work would require I know a little about a lot of different technologies as they support implementations on various applications. Consulting would be a new area for me in this space.
Small (~30 people) but growing quickly. Most of the company's workforce is remote.
Target 5% bonus. No 401(k) but 'possible in the future'
4 weeks vacation though 1 of those must be at between Christmas and New Years.
May sponsor me for a security clearance.
The owner as part of the verbal offer said they would match my current insurance, but I have not seen what that means as far as particulars. I provided the details and cost of my current coverage and am awaiting their response.

I am leaning towards the consulting job from the standpoint that while it might be more 'risky' in terms of taking me outside of my comfort zone--I've worked at Megacorps my whole life, it could also be a good experience to working for a small, quickly growing firm. That said, the perceived security (not just in terms of the job but in my ability to meet expectations) of the megacorp has its appeal.

Just wanted everyone's thoughts.
Last edited by MikeZ on Mon Mar 18, 2019 9:36 pm, edited 1 time in total.
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Cycle
Posts: 1734
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Location: Minneapolis

Re: Picking between two job offers...

Post by Cycle »

I'm 35 and recently started to despise travel for work. I spent the last couple years with a fair bit of travel, including international, which got old fast. 25% travel seems like a lot, but if its all domestic that probably wouldn't be painful sleep-wise.
Never look back unless you are planning to go that way
FoolMeOnce
Posts: 1005
Joined: Mon Apr 24, 2017 11:16 am

Re: Picking between two job offers...

Post by FoolMeOnce »

Are you confident either of these would be an improvement over your current position? Neither seems like a clear step forward to me. Perhaps keep looking?
OnTrack2020
Posts: 667
Joined: Mon Mar 20, 2017 10:24 am

Re: Picking between two job offers...

Post by OnTrack2020 »

Do either one of them seem terrific to you? If I were to choose it would be #1. Reasons, you are used to excellent benefits and #1 has excellent benefits. I would try to negotiate 4 weeks of vacation however. Plus it has a 401k, which #2 does not have. 401k "possibly in the future" might mean "never."
123
Posts: 6544
Joined: Fri Oct 12, 2012 3:55 pm

Re: Picking between two job offers...

Post by 123 »

One time I was in a similar position trying to decide between job offers, except I happened to have 3 concurrent offers from other companies. I thought that it would be easy to decide with so many options but it wasn't. I talked it over with a friend and he gave me the insight I needed to resolve the issue. He told me that the reason I couldn't decide between the three offers was that they all somewhat "ugly sisters" of the job I held at the time. Sure they each paid more money, were in better locations, and the companies were more prestigious. But in the end none of them was a strong enough contender that was worth accepting. I turned them all down and have been forever grateful to that friend for his insight at the time. A few months later I got a much better offer that I accepted and moved on.

I don't see a strong reason for you to accept either alternative to your present situation.
The closest helping hand is at the end of your own arm.
AtlBoglehead
Posts: 16
Joined: Sun Aug 12, 2018 11:19 am

Re: Picking between two job offers...

Post by AtlBoglehead »

I would not take # 2 - security iffy. I'd take # 1 or stay put. Give consideration to where you want to live - climate but esp family. Kids may be coming. Their grandparents may be passing. These intangibles are hugely important to 3 generations, or will be in retrospect.
Topic Author
MikeZ
Posts: 336
Joined: Sun Dec 07, 2014 9:17 pm

Re: Picking between two job offers...

Post by MikeZ »

I should add the following: My DW are I are both very excited about the prospect of working remote. We live in our current city for my current employer only and we would love to cash out the appreciation of our house that we bought as a foreclosure 7 years ago. Also we would likely park that equity in a savings account or pay off our rental house so we would have some security there to take more risks.

Also, in think both these jobs have good opportunities to increase my skillsets in population technologies that dont exist in my current employer. I expect a complete leadership change at my current employer within the next year and I have no way to predict if I will come out better for it. That said, I dont see any path to get my comp to what the other two companies are offering.

We would take the opportunity to live in different parts of the country to see where we would want to settle down next. Part of the #2 opportunity is that is seems more flexible in terms of when I would work my hours which would fit in with what we are thinking about.

Also, I kind of like the idea of trying out the 'non-megacorp' lifestyle for a change. The key being that we would likely either rent or buy an RV for the next couple of years so the downside of #2 not going well is somewhat minimized. I also see a lot of upside as far as if the consulting work goes well that opening up sales engineering in the future.
runner3081
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Joined: Mon Aug 22, 2016 3:22 pm

Re: Picking between two job offers...

Post by runner3081 »

Cycle wrote: Mon Mar 18, 2019 7:51 pm I'm 35 and recently started to despise travel for work. I spent the last couple years with a fair bit of travel, including international, which got old fast. 25% travel seems like a lot, but if its all domestic that probably wouldn't be painful sleep-wise.
If I travel more than 4-times per year for work, that is too much for me!

Of course, I end up being sent across the country for 27 hours, haha.

We have video conferencing, people!
BanditKing
Posts: 630
Joined: Tue Oct 29, 2013 11:11 pm

Re: Picking between two job offers...

Post by BanditKing »

#2 might be interesting for the security clearance. Once you have that, a lot of government and high-price contractor options open up. It's difficult to get a job to sponsor a security clearance, but having one can pay off many times over.
tindel
Posts: 170
Joined: Sun Nov 12, 2017 10:06 am

Re: Picking between two job offers...

Post by tindel »

BanditKing wrote: Mon Mar 18, 2019 10:42 pm #2 might be interesting for the security clearance. Once you have that, a lot of government and high-price contractor options open up. It's difficult to get a job to sponsor a security clearance, but having one can pay off many times over.
This. Having a security clearance opens many doors and increased salary. It may be worth negotiating a guaranteed clearance with #2 and that would make it a clear winner - or not.

I also like the suggestions of not deciding on either one and staying with your current position. If you're not stoked to move - you shouldn't. You should be grinning ear-to-ear about the new possibilities.
CurlyDave
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Joined: Thu Jul 28, 2016 11:37 am

Re: Picking between two job offers...

Post by CurlyDave »

What KIND of security clearance are they talking about?

In general there are: confidential, secret, top secret and then SCI. The first three are fairly easy and cheap to get and are not extraordinarily valuable.

The SCI clearance takes months of investigation and a polygraph. A big part of its value comes from the fact that once you have it, you can be read into a new program very quickly. Generally you do not get one for trivial reasons. You must be assigned to a program that requires one and then work on other things until the clearance is granted.

If they are willing to put in writing that they will put you on a program that requires a SCI clearance and will sponsor you for it, that is valuable.
time>money
Posts: 22
Joined: Mon Mar 30, 2015 3:24 pm

Re: Picking between two job offers...

Post by time>money »

In my experience, companies that rapidly expand often rapidly contract. The consulting company’s US contracts are new. Seems quite possible they will not work out long term, leaving them with a bunch of remote foreign employees, who will be easy to lay off. I can see you want to go with option 2, yet you feel unsure enough to pose the question to the forum. I don’t know what your concerns are exactly, but if they involve unemployment at an inconvenient time, then I would watch out for 2.

I have worked remotely for a very long time, and it is absolutely the best. I would never go back, not even for a huge raise. Having the freedom to live where you want, not commute, take care of errands on your own schedule is wonderful. Some people don’t love it, though.
TheOscarGuy
Posts: 1123
Joined: Sat Oct 06, 2012 1:10 pm
Location: Where I wanna be.

Re: Picking between two job offers...

Post by TheOscarGuy »

MikeZ wrote: Mon Mar 18, 2019 7:14 pm This forum and it's members have always impressed me so much in the thoughtfulness of everyone's contributions. With this I wanted to get everyone's thoughts on a decision I need to make soon:

I am 34, Married with no kids. For a variety of reasons, including general boredom and uncertainty of how much of my skillset fits in with where our leadership wants to go, I have been looking for another job. My current comp is $98k with excellent benefits (Good health insurance, 6% 401(k) match, 5 weeks vacation, etc).

I have received two job offers that I am deciding between. Both are remote positions. Both are offering $115k.

Offer 1: Megacorp Internal Analyst position
Excellent benefits, very similar to what I have now. 3 years to vest in 401(k).
3 weeks vacation.
I would be 2 of 13 people on the team working remote. The rest would be based out of their corporate headquarters. Seems to be career limiting in that regard.
Individual contributor in what seems like a well running team though they seem overloaded to some extent.
Some travels every few months to the headquarters city to meet with the rest of the team.
Seems a very 'old school' culture, which in terms of benefits I like.


Offer 2: Small consulting company.
They are based in Canada but are hiring in the US to support additional contract wins. I would be one of a handful of US staff.
Consulting work traveling to clients sites ~25% of the time and the rest remote. Work would require I know a little about a lot of different technologies as they support implementations on various applications. Consulting would be a new area for me in this space.
Small (~30 people) but growing quickly. Most of the company's workforce is remote.
Target 5% bonus. No 401(k) but 'possible in the future'
4 weeks vacation though 1 of those must be at between Christmas and New Years.
May sponsor me for a security clearance.
The owner as part of the verbal offer said they would match my current insurance, but I have not seen what that means as far as particulars. I provided the details and cost of my current coverage and am awaiting their response.

I am leaning towards the consulting job from the standpoint that while it might be more 'risky' in terms of taking me outside of my comfort zone--I've worked at Megacorps my whole life, it could also be a good experience to working for a small, quickly growing firm. That said, the perceived security (not just in terms of the job but in my ability to meet expectations) of the megacorp has its appeal.

Just wanted everyone's thoughts.
Calculated 'adjusted income' since vacation, and 401Ks are not matched. You have claimed all other benefits are similar. I would dig more and ask them how much is the insurance, ask them details about the plan, if its HDHP with HSA what is deductible, are they putting any money into your HSA etc. to be sure they are indeed similar.

Here is how I would calculate adjusted income:

I will comment on vacation for the first offer: At your current rate of 98K, each week of vacation is ~$3769. So the offer *to you* is more like 115K - $7.538 (2 weeks extra over first company offer) = $107.46K compared to 98K at current company.I do not know what is second company's 401K match, so do a comparison there too if they are different.If 401Ks are similar are you willing to take the 107K offer from first company?

I dont know what your travel situation is with current company. Both offers they will make you travel. I don't know if you prefer traveling or not, but once you are married and have kids etc. it is painful to have to leave your family.

For second company no 401K means you are leaving 98K * 6% = $5.8K on the table. I read possible in the future as 'I can not use it when evaluation an offer, and comparing with my current compensation'. Will they give you target bonus for the first year, given you are new? I would ask that question. Lets say they do, second offer is ~$120.75K less 5.8K (401K) less one week less of vacation (3.769) = $111.181K. Are you willing to accept $111.181K offer from second company? If you are 'forced' to take a vacation during Xmas time, it isn't really a vacation :happy so if it were me, I would add that too in my calculations.
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