Job Change - Looking for Feedback

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dcw213
Posts: 158
Joined: Sun Dec 16, 2012 3:04 pm

Job Change - Looking for Feedback

Post by dcw213 » Mon Sep 02, 2019 3:08 pm

Without getting into too much detail, I have not enjoyed my job for some time. I even made a post on here 5 years ago about being burnt out but I have pushed onward. I now have a family and have taken the foot off the pedal big time at work. That transition was better than expected. However, I have fallen into a trap at work where most new initiative get thrown to my team and my management is getting progressively less sensitive to the impact on resources or morale. This year, a very influential external stakeholders insisted that we had to do something that makes no sense. Every executive at my company agrees that it makes no sense yet I have been asked to do it. It is becoming very hard for me and my team to remain motivated.

I have received an offer for an external position. It involves a 20% pay cut but is with a great growing organization with a great reputation and I think the work will be rewarding. It is also a better commute from my new house in the suburbs. I am seriously considering it.

I am 35, married, 2 kids. Just bought a house. Net worth is about $1.6 million (about 800 in tax advantaged retirement, 750 in taxable, 50 in hsa and 529).

Financially it will be a bad move. I feel like that is OK. The job will pay me about market rate, I am making above market now due to cleaning up the messes at a pretty dysfunctional organization (I will give them credit for compensating me fairly for dealing with a lot of BS). I feel like it can work out but also feel a bit inexperienced about the possibilities that life raising kids may bring. My oldest has mild special needs if that influences any feedback.

Goal33
Posts: 1105
Joined: Sun Apr 12, 2015 12:30 pm

Re: Job Change - Looking for Feedback

Post by Goal33 » Mon Sep 02, 2019 3:14 pm

Can you be more specific on the $ amount we are talking about? Are you a single wage earner or is this a dual income situation? What’s the total wages for the household.

If this 20% wage cut is only 10% or household income, for example, that is less impactful and either way this is only at the marginals.

I assume you’ve already negotiated the best you can. Is there upside at the new job aside from the growing organization (I.e equity)

Will the shorter commute save you money?

It sounds reasonable to leave.
A man with one watch always knows what time it is; a man with two watches is never sure.

HomeStretch
Posts: 3515
Joined: Thu Dec 27, 2018 3:06 pm

Re: Job Change - Looking for Feedback

Post by HomeStretch » Mon Sep 02, 2019 3:36 pm

How does the 20% cut affect paying your expenses and savings level? Can you cut expenses to negate all or most of the pay cut after tax?

Are the new job title and benefits comparable to current job?

Aside from that, a new job that is more satisfying and closer to home with a family is a huge plus for work-life balance. Being closer to home to deal with family emergencies, enjoy kids school and sports events, etc. is priceless.

Lalamimi
Posts: 197
Joined: Mon Jun 24, 2019 4:22 pm

Re: Job Change - Looking for Feedback

Post by Lalamimi » Mon Sep 02, 2019 3:47 pm

take the new position. The stress is not worth it. I dealt with it for 8 years, my husband for over 10. We are finally retired and realize how stupid we were to put ourselves through it. You have years to make money. Is your wife working? Could she find something to offset the 20% or spend less money for awhile? There are many ways to cut costs without noticing - more dinners at home with the kids, cut all the excess cable and read to the kids, etc. You have a great start on savings and 30 years to worry about it. The commute and stress is not worth it. Trust someone who has been there. RUN to the new position.

Thegame14
Posts: 1354
Joined: Mon May 07, 2018 11:53 am

Re: Job Change - Looking for Feedback

Post by Thegame14 » Mon Sep 02, 2019 5:54 pm

can you negotiate with the new offer? How much shorter is the commute? Id lean towards trying to counter the offer and ask them to meet you in the middle of current income and their offer, and take the new job.

Elam
Posts: 20
Joined: Sun Sep 01, 2019 5:55 pm
Location: Dallas

Re: Job Change - Looking for Feedback

Post by Elam » Tue Sep 03, 2019 12:05 pm

.
Like most people, during the many years on my corporate job, I encountered several bad situations that could have made me quit. There was one supervisor at the company who had it in for me for some unknown reason [she was never my direct supervisor] and she kept trying to undermine me. But it was a good job with great benefits [especially the retirement benefits] and I was a single parent with too many responsibilities to risk being foolish. So I persevered and things got better. That supervisor who kept harassing me was fired many years before I retired early with a paid off house, no debt, money in the bank and investments and great retirement benefits. Contrast that with a coworker and friend who did quit over a problem with her supervisor. She went from employer to employer every few years. While she made good money, she mismanaged her money and she never worked long enough at any company to qualify for retirement benefits. She was over 70 when she had to retire for health reasons and she struggles every month to make ends meet.

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