Daughter's First Job

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nebogle
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Daughter's First Job

Post by nebogle » Sat Apr 27, 2019 2:18 pm

Long time lurker here. I have seen other posts about parents asking for advice about their young adult children. Our daughter has two first time job offers from college. The first one is a 1 year contracting gig in a Large Pharma multi-national thirty minutes from home. The second is a full-time job from a large consumer products multi-national three hours from home. She would be able to stay home if she took the first offer and save a lot of money in terms of rent, utilities etc. The second full-time offer is in a more HCOL area where she would have to rent an apartment and pay her own utilities etc. Both jobs have similar scope in terms of learning for a fresh grad.
Our daughter is leaning towards the contracting gig since it is closer to home and she can save more by staying home. We feel that the full-time is more stable with benefits, paid vacation etc. Any advice on which offer our daughter should take up?


Thanks

tibbitts
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Re: Daughter's First Job

Post by tibbitts » Sat Apr 27, 2019 3:18 pm

nebogle wrote:
Sat Apr 27, 2019 2:18 pm
Long time lurker here. I have seen other posts about parents asking for advice about their young adult children. Our daughter has two first time job offers from college. The first one is a 1 year contracting gig in a Large Pharma multi-national thirty minutes from home. The second is a full-time job from a large consumer products multi-national three hours from home. She would be able to stay home if she took the first offer and save a lot of money in terms of rent, utilities etc. The second full-time offer is in a more HCOL area where she would have to rent an apartment and pay her own utilities etc. Both jobs have similar scope in terms of learning for a fresh grad.
Our daughter is leaning towards the contracting gig since it is closer to home and she can save more by staying home. We feel that the full-time is more stable with benefits, paid vacation etc. Any advice on which offer our daughter should take up?


Thanks
Pay is the same? Including benefits?

Is that 30 minutes ... well, what kind of commuting? How reliable is the 30 minutes? How close to the HCOL job could she live? What about safety in the HCOL area vs. where you live and where the contract job is?

livesoft
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Re: Daughter's First Job

Post by livesoft » Sat Apr 27, 2019 3:22 pm

People sometimes learn from their mistakes. If this was my daughter, I would not offer any advice from me personally. She would have to get advice from elsewhere: friends, the internet, even Mom.
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Dottie57
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Re: Daughter's First Job

Post by Dottie57 » Sat Apr 27, 2019 3:27 pm

I agree full time with benefits is better. Does she have student debt? Saving money is fine but adult children also need to leave the nest. If the pay is fairly good, I would actually collect rent. Make the choice more equal.

staythecourse
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Re: Daughter's First Job

Post by staythecourse » Sat Apr 27, 2019 3:30 pm

nebogle wrote:
Sat Apr 27, 2019 2:18 pm
Long time lurker here. I have seen other posts about parents asking for advice about their young adult children. Our daughter has two first time job offers from college. The first one is a 1 year contracting gig in a Large Pharma multi-national thirty minutes from home. The second is a full-time job from a large consumer products multi-national three hours from home. She would be able to stay home if she took the first offer and save a lot of money in terms of rent, utilities etc. The second full-time offer is in a more HCOL area where she would have to rent an apartment and pay her own utilities etc. Both jobs have similar scope in terms of learning for a fresh grad.
Our daughter is leaning towards the contracting gig since it is closer to home and she can save more by staying home. We feel that the full-time is more stable with benefits, paid vacation etc. Any advice on which offer our daughter should take up?


Thanks
Easy take the one that will give her the best chance of getting a better job in the future, i.e. make more money. Location and proximity to mom/ dad do not matter.

Good luck.
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DrGoogle2017
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Re: Daughter's First Job

Post by DrGoogle2017 » Sat Apr 27, 2019 3:31 pm

Mine wouldn’t take the contract job to live at home. None of my kids lived at home after high school. No way, they are too independent.

dbr
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Re: Daughter's First Job

Post by dbr » Sat Apr 27, 2019 3:32 pm

staythecourse wrote:
Sat Apr 27, 2019 3:30 pm

Easy take the one that will give her the best chance of getting a better job in the future, i.e. make more money. Location and proximity to mom/ dad do not matter.

Good luck.
I agree. The second is a real job and the first is marking time.

pdavi21
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Re: Daughter's First Job

Post by pdavi21 » Sat Apr 27, 2019 3:33 pm

If she is good at getting jobs, either is fine. The full-time job is likely going to be more stable, less risky.

Both options involve getting a job, which is better than not getting a job, so I'd just congratulate her and let her choose.

I took the more stable job once, and ended up hating it. Luck plays a big role in which is going to be better.
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mrc
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Re: Daughter's First Job

Post by mrc » Sat Apr 27, 2019 3:33 pm

dbr wrote:
Sat Apr 27, 2019 3:32 pm
staythecourse wrote:
Sat Apr 27, 2019 3:30 pm

Easy take the one that will give her the best chance of getting a better job in the future, i.e. make more money. Location and proximity to mom/ dad do not matter.

Good luck.
I agree. The second is a real job and the first is marking time.
That's what I was going to say. The latter is a real job. If they were both 3 hours away, which is better?
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Re: Daughter's First Job

Post by tibbitts » Sat Apr 27, 2019 5:29 pm

I don't agree with the "real job" comments. They're both real jobs, and we don't know enough to evaluate them further.

I know someone who chose a contract job and about six months later she was hired full-time. Although there's no way of knowing, it's very possible that her job performance over the first six months resulted in her being hired at a higher level than she would have received being hired in from the outside with no direct experience at the job. You just don't know; every company operates differently. With some companies I've worked at, there was essentially no path from contractor to employee, and at others, that was a frequent path. I was once offered a "real job" with a company and had the offer withdrawn - well, not really withdrawn, everyone involved in the hiring process was terminated. You just never know how jobs will turn out, but I think it's a huge accomplishment to be just graduating and have two offers to choose from.

Olemiss540
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Re: Daughter's First Job

Post by Olemiss540 » Sat Apr 27, 2019 5:36 pm

Personally, I wouldn't live at home regardless of which job I chose.
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Re: Daughter's First Job

Post by Thegame14 » Sat Apr 27, 2019 6:00 pm

ID would depend on the money, oen will be hourly the other salary plus benefits and the likelyhood of the contracting job going full time.

hourly rate tims 2080 is about yearly salary, so $20 an hour is about $41K per year salary. Id still lean the one living at home, but sucks she wont have a 401K to park money in. She should pad her savings and open a ROTH IRA and max that each year while she is young.

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Re: Daughter's First Job

Post by Herekittykitty » Sat Apr 27, 2019 6:04 pm

Is she confident of finding satisfactory employment either at the same place or elsewhere once the contract period ends?

Good arguments can be made in favor of staying in the nest a while and saving money and good arguments can be made in favor of flying the coop immediately. I wouldn't stay in the nest too long but for a while, maybe the year of the contract, I don't see that as being a big deal one way or another.
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Re: Daughter's First Job

Post by Trader Joe » Sat Apr 27, 2019 6:08 pm

nebogle wrote:
Sat Apr 27, 2019 2:18 pm
Long time lurker here. I have seen other posts about parents asking for advice about their young adult children. Our daughter has two first time job offers from college. The first one is a 1 year contracting gig in a Large Pharma multi-national thirty minutes from home. The second is a full-time job from a large consumer products multi-national three hours from home. She would be able to stay home if she took the first offer and save a lot of money in terms of rent, utilities etc. The second full-time offer is in a more HCOL area where she would have to rent an apartment and pay her own utilities etc. Both jobs have similar scope in terms of learning for a fresh grad.
Our daughter is leaning towards the contracting gig since it is closer to home and she can save more by staying home. We feel that the full-time is more stable with benefits, paid vacation etc. Any advice on which offer our daughter should take up?


Thanks
Welcome to the forum. Your daughter is on her own life path and will make her own decision. I wish her all the best.

tibbitts
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Re: Daughter's First Job

Post by tibbitts » Sat Apr 27, 2019 6:12 pm

Olemiss540 wrote:
Sat Apr 27, 2019 5:36 pm
Personally, I wouldn't live at home regardless of which job I chose.
It depends on circumstances. In my case when I was around that age both my parents were away for work two weeks out of every month and it didn't hurt to have someone at the house.

Broken Man 1999
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Re: Daughter's First Job

Post by Broken Man 1999 » Sat Apr 27, 2019 6:33 pm

nebogle wrote:
Sat Apr 27, 2019 2:18 pm
Long time lurker here. I have seen other posts about parents asking for advice about their young adult children. Our daughter has two first time job offers from college. The first one is a 1 year contracting gig in a Large Pharma multi-national thirty minutes from home. The second is a full-time job from a large consumer products multi-national three hours from home. She would be able to stay home if she took the first offer and save a lot of money in terms of rent, utilities etc. The second full-time offer is in a more HCOL area where she would have to rent an apartment and pay her own utilities etc. Both jobs have similar scope in terms of learning for a fresh grad.
Our daughter is leaning towards the contracting gig since it is closer to home and she can save more by staying home. We feel that the full-time is more stable with benefits, paid vacation etc. Any advice on which offer our daughter should take up?


Thanks
My advice would be to not give your daughter any advice. She needs to fully own her decision. I would just say you believe she will make a good decision, and leave it at that.

Now personally, as a father, I would want her to stay nearby. But, that may or may not be a good decision, or the best decision for her. As a parent we have biases that may not align well with our children's decisions.

Broken Man 1999
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Re: Daughter's First Job

Post by 3504PIR » Sat Apr 27, 2019 6:36 pm

dbr wrote:
Sat Apr 27, 2019 3:32 pm
staythecourse wrote:
Sat Apr 27, 2019 3:30 pm

Easy take the one that will give her the best chance of getting a better job in the future, i.e. make more money. Location and proximity to mom/ dad do not matter.

Good luck.
I agree. The second is a real job and the first is marking time.
+2. I would be disappointed if my daughter didn’t take the second job.

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Re: Daughter's First Job

Post by sd323232 » Sat Apr 27, 2019 6:42 pm

Olemiss540 wrote:
Sat Apr 27, 2019 5:36 pm
Personally, I wouldn't live at home regardless of which job I chose.
I agree with everyone on this board. Let you daughter live her live, she is an adult now.

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leeks
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Re: Daughter's First Job

Post by leeks » Sat Apr 27, 2019 7:46 pm

If she asked me what I would do if I were her, I'd say move out of the parents' house no matter which job she took!

If you asked me what I would do if I were her parent and she asked to keep living at home, I'd say to charge her market-rate rent for her room (but food/utilities are included so it is a lower-cost option, but not completely free!). Maybe I'd track the amount of rent she paid and gift it back to her sometime later in life, but maybe not! She would be given a list of chores (split reasonably as if she were a roommate of the parents), be assigned to cook 1/3 or more of the family meals, and I would under no circumstances no matter what not ever do her laundry for her!

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Re: Daughter's First Job

Post by Hulu » Sat Apr 27, 2019 8:01 pm

I'd congratulate her and advise her to follow her heart, her gut and her head. And perhaps look a couple levels up and do the same. Saving housing money that young is an unbelievable opportunity, good on you for offering.

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Re: Daughter's First Job

Post by Watty » Sat Apr 27, 2019 8:13 pm

This is not a big factor but if she stays at home be sure to let your insurance agent know. It might affect the rates for your car, house, and umbrella insurance.

One concern that I would have with the contract job is that it is hard to predict what health insurance will be available next year so she should also consider that. The other is that the job market is real strong now but if she takes the contract job she may need to find a new job in a year and the job market could be a lot harder then.

You also need to be sure that everyone has the same expectations about things like dating. It could be more than a little awkward for some people if she starts spending the night at a boyfriends or she wants to have her boyfriend over for the night.

I would also be concerned about her social development. When I was about 30 I moved to a city where I literally knew no one. It was hard for a bit but it forced me to get out of my comfort zone and go out and do things and meet people so it turned out to be very good for me. If she lives with you she might not reach that stage and could still be living with you when she is 30.

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Re: Daughter's First Job

Post by Flyer24 » Sat Apr 27, 2019 8:18 pm

I don’t feel that living rent free at home will help her. One of the most important things at that age is learning to budget. Glad that she has a choice. It would be even worse to be living with the parents and no job. Let her go with her heart but don’t make it a free ride living at home. She needs to pay some form of rent either way.

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Re: Daughter's First Job

Post by Minty » Sat Apr 27, 2019 8:35 pm

leeks wrote:
Sat Apr 27, 2019 7:46 pm
If she asked me what I would do if I were her, I'd say move out of the parents' house no matter which job she took!
I tend to agree that she should move out either way, especially if she did not go away to college and spend summers away. Let her choose based on which job is best for her career, rather than skewing the decision to what is easy and comfortable. I'd rather support a young adult by contributing to a 401k rather than by letting her live at home.

On the merits, I am risk averse, so I would lean toward taking a permanent job at a moment when we may be late in the business cycle.
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Re: Daughter's First Job

Post by Clarice » Sat Apr 27, 2019 8:38 pm

nebogle wrote:
Sat Apr 27, 2019 2:18 pm
Long time lurker here. I have seen other posts about parents asking for advice about their young adult children. Our daughter has two first time job offers from college. The first one is a 1 year contracting gig in a Large Pharma multi-national thirty minutes from home. The second is a full-time job from a large consumer products multi-national three hours from home. She would be able to stay home if she took the first offer and save a lot of money in terms of rent, utilities etc. The second full-time offer is in a more HCOL area where she would have to rent an apartment and pay her own utilities etc. Both jobs have similar scope in terms of learning for a fresh grad.
Our daughter is leaning towards the contracting gig since it is closer to home and she can save more by staying home. We feel that the full-time is more stable with benefits, paid vacation etc. Any advice on which offer our daughter should take up?


Thanks
HCOL position. I recommend maturing rather than living at home.

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Re: Daughter's First Job

Post by tibbitts » Sat Apr 27, 2019 10:24 pm

We haven't had any replies from the OP - it would help if the OP provided additional details.

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Re: Daughter's First Job

Post by PowderDay9 » Sat Apr 27, 2019 10:41 pm

Don't provide any advice to her unless she asks your opinion. Even then I would just talk through the pros and cons of each and not try to influence her decision.

Hopefully she picks whichever job gives her the best experience to set her up for her next job. That's probably hard to know and is a lot of luck. Next importance is industry and location. Sometimes kids move away and don't come back.

I wouldn't stress too much. College grads usually don't stay at their first job more than a few years. She'll be successful if she works hard anywhere.

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Re: Daughter's First Job

Post by beyou » Sun Apr 28, 2019 5:30 am

livesoft wrote:
Sat Apr 27, 2019 3:22 pm
People sometimes learn from their mistakes. If this was my daughter, I would not offer any advice from me personally. She would have to get advice from elsewhere: friends, the internet, even Mom.
Yet you have no problem giving advice to strangers ?

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beyou
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Re: Daughter's First Job

Post by beyou » Sun Apr 28, 2019 5:39 am

If asked, my suggestion would be to focus on the actual job itself, day to day responsibilities and career direction. Sitting at work 8 hrs/day or more, one should find some motivation and at her age, long term career boost. The other issues (annual savings, benefits) are not worthless to consider, but temporary in nature.

The educational value of living away from home may offset or outweight savings being home. But I wouldn’t advise to make a decision based on this as the primary criteria. If the jobs are identical in what would be done/learned and similar net after expenses (apartment cost) the living on her own adds to the long term educational benefit.

Just keep the perspective, if asked, ok to give an reasoned opinion in pros and cons of both, but I would not push one way or the other unless one was a huge and obvious (to you) mistake.

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Re: Daughter's First Job

Post by z3r0c00l » Sun Apr 28, 2019 5:47 am

Full time job sounds better and she would benefit from the chance to live on her own (or with roomate?) in a modern city full of culture and young-person networks. It isn't so much about this job, but about 5-10 years down the road. Choice 2 probably offers her better opportunities in the future, including the ability to move back to Peoria if she wants to. It would be helpful to name the big city, though. If SF or Seattle or New Orleans, I would have serious concerns. If Boston, NYC, DC, not so much.

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Re: Daughter's First Job

Post by livesoft » Sun Apr 28, 2019 7:05 am

beyou wrote:
Sun Apr 28, 2019 5:30 am
Yet you have no problem giving advice to strangers ?
I like that, thanks! I give my daughter and son advice all the time when it will make a difference.
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Re: Daughter's First Job

Post by csm » Sun Apr 28, 2019 7:19 am

I would advocate moving out regardless of the job she chooses. Just because she *can* live at home doesn't mean she should, or has to.

While I would normally favor the stable job with benefits, I think it's also important to focus on the industry. Does she have a preference between big pharma vs. consumer products industry?

What is her field?

I think she should choose the job that is most interesting to her, and find her own place to live. If the job interest is a toss up, then go for the stable one with benefits. Not that anything is stable these days - as others have suggested, the contract position might lead to full time. Does she know how contract positions have turned out for others in her situation at that company in the past?

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Re: Daughter's First Job

Post by Stinky » Sun Apr 28, 2019 2:45 pm

Broken Man 1999 wrote:
Sat Apr 27, 2019 6:33 pm
nebogle wrote:
Sat Apr 27, 2019 2:18 pm
Long time lurker here. I have seen other posts about parents asking for advice about their young adult children. Our daughter has two first time job offers from college. The first one is a 1 year contracting gig in a Large Pharma multi-national thirty minutes from home. The second is a full-time job from a large consumer products multi-national three hours from home. She would be able to stay home if she took the first offer and save a lot of money in terms of rent, utilities etc. The second full-time offer is in a more HCOL area where she would have to rent an apartment and pay her own utilities etc. Both jobs have similar scope in terms of learning for a fresh grad.
Our daughter is leaning towards the contracting gig since it is closer to home and she can save more by staying home. We feel that the full-time is more stable with benefits, paid vacation etc. Any advice on which offer our daughter should take up?


Thanks
My advice would be to not give your daughter any advice. She needs to fully own her decision. I would just say you believe she will make a good decision, and leave it at that.

Now personally, as a father, I would want her to stay nearby. But, that may or may not be a good decision, or the best decision for her. As a parent we have biases that may not align well with our children's decisions.

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Re: Daughter's First Job

Post by miamivice » Sun Apr 28, 2019 2:51 pm

livesoft wrote:
Sat Apr 27, 2019 3:22 pm
People sometimes learn from their mistakes. If this was my daughter, I would not offer any advice from me personally. She would have to get advice from elsewhere: friends, the internet, even Mom.
This is likely the best advice on the thread. Let your daughter decide based on what makes sense for her.

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nebogle
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Re: Daughter's First Job

Post by nebogle » Sun Apr 28, 2019 3:33 pm

Thank you all for the very helpful comments. I have tried to share some more info below:

Pay is 10% more in the HCOL full-time job compared to the contracting job which is 30 minutes from home. The 30 minute commute could double a few days a week depending on traffic/accidents etc. Our daughter plans to live at home if she took the contracting job. She does not have any student debt since we paid for her education. If both jobs were 3 hours away and full-time, it would be a tough choice for her since both are good companies.
My daughter is good at interviewing. The job market is good now, but could become slower next year. That has been our concern too. She would have to look for another job next year if the contract was not extended in April 2020. We live in central NJ and the HCOL area is in Long Island which turns out to more expensive in terms of rents compared to NJ. The full-time job is in an industrial area and the office is partly a manufacturing/warehouse set-up. The contracting offer is a typical corporate location with proper offices/cubicles etc. She doesn't like the industrial area and the towns around central Long Island. We would have to look carefully at the safety of the towns she decides to rent in.

Her field is Engineering. She used to intern in both Pharma and Consumer and liked both experiences. She says both the jobs are similar in terms of future scope.

We will look into incorporating the following comments:
- Giving her the freedom to make her own decision for whichever job she took and supporting her decision.
- Charging some form of rent which can be paid back in some other form.
- Contributing to her IRA.
- Giving her the freedom so that it doesn’t become socially awkward for her if she wants spend time with her friends.
Last edited by nebogle on Sun Apr 28, 2019 8:26 pm, edited 1 time in total.

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Re: Daughter's First Job

Post by dm200 » Sun Apr 28, 2019 3:35 pm

Olemiss540 wrote:
Sat Apr 27, 2019 5:36 pm
Personally, I wouldn't live at home regardless of which job I chose.
My - how times have changed since I was young! Back then, almost nobody wanted to "live at home" when they had a choice! Just a few folks who had (or were perceived to have) some kind of problem.

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Re: Daughter's First Job

Post by stoptothink » Sun Apr 28, 2019 3:42 pm

dm200 wrote:
Sun Apr 28, 2019 3:35 pm
Olemiss540 wrote:
Sat Apr 27, 2019 5:36 pm
Personally, I wouldn't live at home regardless of which job I chose.
My - how times have changed since I was young! Back then, almost nobody wanted to "live at home" when they had a choice! Just a few folks who had (or were perceived to have) some kind of problem.
It's absolutely a growing trend, and I am probably half your age. I left home at 16 and never returned. Seeing as how it is pretty socially acceptable now, I probably would have given some strong consideration to staying at home and just stockpiling money until I started a family.

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Re: Daughter's First Job

Post by Grt2bOutdoors » Sun Apr 28, 2019 4:46 pm

Take the job that offers the most opportunity for future career advancement. If your daughter is interested in working for pharmaceutical/healthcare industry then perhaps the consultant role may be more advantageous than that of the consumer products company. But let her make the decision without any added pressure from mom and dad. As for others who say the steady job is the better selection; let’s evaluate what we know. You have two job offers, the first is a 1 year contract as a consultant for a large multi national pharmaceutical. The second job is a full time role with a start date for a large multinational consumer goods company. The difference between the two jobs as to security - almost none. The first job has a firm start and end date, the second has a firm start date and you can be terminated on day 1 on. Still think job 2, is the better opportunity?
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Re: Daughter's First Job

Post by 3504PIR » Mon Apr 29, 2019 12:29 am

stoptothink wrote:
Sun Apr 28, 2019 3:42 pm
dm200 wrote:
Sun Apr 28, 2019 3:35 pm
Olemiss540 wrote:
Sat Apr 27, 2019 5:36 pm
Personally, I wouldn't live at home regardless of which job I chose.
My - how times have changed since I was young! Back then, almost nobody wanted to "live at home" when they had a choice! Just a few folks who had (or were perceived to have) some kind of problem.
It's absolutely a growing trend, and I am probably half your age. I left home at 16 and never returned. Seeing as how it is pretty socially acceptable now, I probably would have given some strong consideration to staying at home and just stockpiling money until I started a family.
It is a growing trend in the US which is beginning to mirror the trends in some countries in Europe.

I always give my parents a guilt trip about this, but they gave me a piece of luggage for my 18th birthday and it was meant to a large degree as a farewell gift. I left a couple of weeks later after high school graduation. That was in 1981 and ironically, I began packing it today (an Eddie Bauer duffle) for our two month transition to our retirement home as we have movers coming this week. I’ve lived in 35 different places in my life, 25 of them since getting that duffle and always pack it when moving but never on vacation. It’s got a lot of miles on it.

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Re: Daughter's First Job

Post by 986racer » Mon Apr 29, 2019 12:57 am

As a contractor, she can likely put a LOT more into retirement plans than she could if she was a W2 employee. Also, many business expenses may be tax deductible

Grt2bOutdoors
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Re: Daughter's First Job

Post by Grt2bOutdoors » Mon Apr 29, 2019 5:09 am

986racer wrote:
Mon Apr 29, 2019 12:57 am
As a contractor, she can likely put a LOT more into retirement plans than she could if she was a W2 employee. Also, many business expenses may be tax deductible
Not likely. First job, how much do you think they are paying. Hard pressed to fully fund a 19k 401k.
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oilrig
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Re: Daughter's First Job

Post by oilrig » Mon Apr 29, 2019 5:56 am

I read something recently that made a lot of sense for people taking their first job out of college. Go big! Work for the biggest, most prestigious company you can right out of college (think fortune 10-100 companies). The major advantage of being able to put that company on your resume/Linkedin, AND the huge network of current/ex employees of that company will pay huge dividends down the line.

It’s almost like attending a top college, the alumni from that college take care of each other by hiring each other, promotions, selecting vendors, choosing business partners etc. It works the same for top companies, ex google/amazon/Exxon/PG/J&J employees will likely follow each other in their career path and look more attractive on their resume.

The same thing happened to me once I started working for a well known fortune 100 oil and gas company. Companies started reaching out to me like crazy trying to hire me because of this Experience. Also, the network that I built while working there was amazing, I keep in touch with so many former colleagues and we all try and help each other out when we can.

My advice is for your daughter to go with the biggest company that is more well known, prestigious, biggest player in the market etc. She may not know it yet, but it will pay huge dividends later in her career.

Broadway2018
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Re: Daughter's First Job

Post by Broadway2018 » Mon Apr 29, 2019 6:09 am

nebogle wrote:
Sun Apr 28, 2019 3:33 pm
Thank you all for the very helpful comments. I have tried to share some more info below:

Pay is 10% more in the HCOL full-time job compared to the contracting job which is 30 minutes from home. The 30 minute commute could double a few days a week depending on traffic/accidents etc. Our daughter plans to live at home if she took the contracting job. She does not have any student debt since we paid for her education. If both jobs were 3 hours away and full-time, it would be a tough choice for her since both are good companies.
My daughter is good at interviewing. The job market is good now, but could become slower next year. That has been our concern too. She would have to look for another job next year if the contract was not extended in April 2020. We live in central NJ and the HCOL area is in Long Island which turns out to more expensive in terms of rents compared to NJ. The full-time job is in an industrial area and the office is partly a manufacturing/warehouse set-up. The contracting offer is a typical corporate location with proper offices/cubicles etc. She doesn't like the industrial area and the towns around central Long Island. We would have to look carefully at the safety of the towns she decides to rent in.

Her field is Engineering. She used to intern in both Pharma and Consumer and liked both experiences. She says both the jobs are similar in terms of future scope.

We will look into incorporating the following comments:
- Giving her the freedom to make her own decision for whichever job she took and supporting her decision.
- Charging some form of rent which can be paid back in some other form.
- Contributing to her IRA.
- Giving her the freedom so that it doesn’t become socially awkward for her if she wants spend time with her friends.
Take the more money and have her get a roommate. 10% does not seem like much but sets a higher baseline for future jobs and earning potentially.

She can always change jobs later. I am 30 years old and have worked at 5 companies holding 8 jobs.

FIREmeup
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Re: Daughter's First Job

Post by FIREmeup » Mon Apr 29, 2019 6:34 am

I am surprised by all the negative comments for the young lady wanting to stay home a few years to save. Everything is so expensive and that is one of the prime times to give yourself a solid foundation. Coming out of college still living a low cost college life style and now having money coming in. A year or two can go a long way in life. Now this shouldnt be done if the other job gives her better career prospects but being in NJ/NY region means there will be a lot of opportunites.

When I got out of college in 2007 I lived at home for a few years and had an insane savings rate I will never approach again. My friends who were responsible with their money, and chose to live at home a few years to save, as opposed to spending it on constant vacations, are so far ahead of the others I know.

I myself lived home for 4 years and my wife did for 5 years though she paid a rent which her parents then gave her a check the day of our wedding, paying it all back in addition to a gift.

You cant plan for this but my father ended up getting cancer and passing away a few years ago and those few years of being home at night, more than I would have, to have dinner, watch games, have laughs and help him with house projects are memories I am eternally grateful for.

I would let your daughter make her own decision. Either option is great. She's certainly not hurting herself if she chooses the contract job. Yeah blah blah she has to learn to budget, sounds like your daughter isnt wasteful. A female engineer with two job offers? Sounds like she has a good start in her adulthood. She's smart, she'll learn to budget at 24 if she moves out then, and then she'll get married and learn to budget more, buy a place perhaps and redo her budget again, and have kids, and up end her budget again. Each time becoming harder to save as priorities change. She has a golden opportunity to save a ton now. You live in a good job market let her decide.

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Tamarind
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Re: Daughter's First Job

Post by Tamarind » Mon Apr 29, 2019 6:49 am

Since either is fine and she's clearly thought it through, let her decide to do what she wants. Once she has income she should contribute to household expenses.

The idea that a child fails to launch merely by living at home for a little while after school is, I think, a brief blip in US social history. Multigenerational households are much more the norm in other times and places. A successful child contributing to the household and saving money has certainly launched and may move out whenever they like. A child who can't get it together may still be dependent on parental resources even if they live apart.

LawyersGunsAndMoney
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Re: Daughter's First Job

Post by LawyersGunsAndMoney » Mon Apr 29, 2019 3:11 pm

Most are looking at this as live at home vs. rent in a HCOL area, but I do think that the full-time vs. contractor aspect of each job also merits some thought.

Benefits have actual value - so if salary is the same, it is likely that the full-time position is a better offer. Additionally, will contractors be invited to staff outings, team-building, or holiday parties? Many are not, for legal and liability reasons. This mattered to me when I was 22, and it matters to me now as an older adult.

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Tamarind
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Re: Daughter's First Job

Post by Tamarind » Mon Apr 29, 2019 4:22 pm

LawyersGunsAndMoney wrote:
Mon Apr 29, 2019 3:11 pm
Most are looking at this as live at home vs. rent in a HCOL area, but I do think that the full-time vs. contractor aspect of each job also merits some thought.

Benefits have actual value - so if salary is the same, it is likely that the full-time position is a better offer. Additionally, will contractors be invited to staff outings, team-building, or holiday parties? Many are not, for legal and liability reasons. This mattered to me when I was 22, and it matters to me now as an older adult.
If the contacting job lacks health care benefits, hopefully she's factoring that in, including the premium costs for the parents to keep her on their insurance. Less important now than it will be in a few years when she must be able to find her own insurance.

When I was 22, I might have forgone health insurance to have an ironclad reason NOT to go to the company holiday party. :)

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