VOTE!! Should I take this job?

chickenhawk

chickenhawk

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OK, I just got an offer for a new job. Below are the pros and cons. Now I know some people will flame me for asking an internet message board for advice on whether or not to take a new job, but I don't care! If you are one of those people, please post elsewhere. I am by no means basing my decision on the results of this poll....just asking for CAG opinions.

Pros -
- 13%+ increase in annual pay
- Better benefits
- Larger, more prestigous firm
- More growth opportunity
- boredom in current job will go away
- Nice little sign on bonus

Cons -
- will lose 20% vesting of retirement
- will have to commute ~1 hour each way (currently work from home)
- tied to the above, won't be home as much to see the lil dude and wifey (it's important to note that changing jobs was inevitable though)
- CAG time will become very limited - :sad: :lol:

Vote away!!!! :D
 
I suppose it really boils down to your age.. losing a 20% vestment in your retirement could be a minor deal that will easily be compensated for with the 13% increase in pay.. or it could be disastrous.

Well that and how important the extra 2 hours with your family is.
 
Based on the benefits and growth opportunity alone, I say go for it. It sucks that you would lose your investment funds, but your increase in salary might make up for it.
 
[quote name='Cornfedwb']I suppose it really boils down to your age.. losing a 20% vestment in your retirement could be a minor deal that will easily be compensated for with the 13% increase in pay.. or it could be disastrous.

Well that and how important the extra 2 hours with your family is.[/QUOTE]

I'm 29, so the 20% could translate into alot of money down the road assuming normal rate of return. On the flip side, I still have tons of time to save for retirement and will likely get a nice retirement package from the new company.

The extra 2 hours with the family is very important, but like I said changing jobs was inevitable so a commute was inevitable as well. Since I can take the train, the commute isn't too bad.....it could be a lot worse. I can also start earlier in the day and get home earlier so that could help to offset the loss of time as well.
 
[quote name='danny-o']tough choice. take into account that you would now have to pay to commute as well.[/QUOTE]

Very true and I did think of that.....train is about $1500 a year.
 
[quote name='chickenhawk']Very true and I did think of that.....train is about $1500 a year.[/QUOTE]

My dad has to commute an hour to denver and back, but since it's rush hour, it can be more around 2 hours on the way back. Aside from him not being home, there's also the problem of gas; his car isn't very economical, fuel-wise.
 
I would take it, but then again I'm looking for myself right now, so if you don't take it foward them my resume ;)
 
[quote name='Wombat']I would take it, but then again I'm looking for myself right now, so if you don't take it foward them my resume ;)[/QUOTE]

I'll do that.....have any problems commuting to Chicago? :lol:
 
I'd say to go with the new job. You gotta keep yourself stimulated jobwise which apparently this new job will provide also more growth opportunity will allow this aswell. Better benefits benefit the family. Plus an hour commute will get you in touch with portable gaming. In the end I think you must decide what is best for your family, is that make more money and benefits, with less time with them or more time with fam, less money, and you looking for somewhere else to work.
 
[quote name='chickenhawk']Very true and I did think of that.....train is about $1500 a year.[/QUOTE]
that's not terrible considering the prices of gas and the upkeep/insurance on a car.

If you can get up earlier, you could sacrafice an hour of sleep to get an hour back with the fam, in theory.

I'd say go for it, providing that 20% of your vested retirement isn't some ludicrous amount. Then benefits and the pay increase will not only improve your quality of life, most likely, but will help to improve the quality of your family's life.

Any chance you could convince the new job to let you work at home some of the time.... like so you only travel in 3 or 4 days per week?

I'd roll with it.

Evolve and let the chips fall where they may. :)
 
Does your wife stay at home, or will you have daycare now that you may not be home all day?

Check to see if the new employer offers discounted (pre-tax) Metra or CTA passes. If you take CTA, you can get a 30 day pass (unlimited rides and transfers) for $75.
 
I say go for it, you shouldn’t consider vested plans as worth anything unless you are very close to getting a full vested step. Keep your 401k contributions maxed out for company matching and look at setting up an outside account. NEVER rely on the company to provide you a pension, it is of course the most likely place a company will fold on in under bankruptcy.

If you don’t mind us asking, what kind of firm? Consulting, finance, or law? They hiring? ;)
 
[quote name='onetrackmind']i vote no... i dont have a reason. Although it seems you already have your mind made up[/QUOTE]

I am definitely leaning in one direction, but my mind is not made up yet. The lack of CAG time is definitely a HUGE disadvantage. :D
 
[quote name='shieryda']Does your wife stay at home, or will you have daycare now that you may not be home all day?

Check to see if the new employer offers discounted (pre-tax) Metra or CTA passes. If you take CTA, you can get a 30 day pass (unlimited rides and transfers) for $75.[/QUOTE]

The wifey works part time and we have grandparents watching the lil dude while she is working (except on Saturdays when I watch him).
 
I voted no. The best reasons to take the job are financial gains - and I think you're underestimating both your loss by changing jobs. You are losing 2 hours per day. Factoring in the time-value of money, assuming you work a 10-hour day you have taken a 20% loss right there.

You're taking a 20% loss on your retirement, which you've already agreed is a fair amount.

Then you're PAYING an additional amount in terms of gas, wear&tear on the car, etc. I just don't think it's worthwhile, unless the "advancement" opportunities are significant. My humble opinion is, if you have a good-paying job and you have reasonable hours, stay with it and use that extra 2 hours/day to seek out investments so you can get your money working for you, or looking for a better job that is either closer to you or pays a LOT more...
 
[quote name='chickenhawk']I am definitely leaning in one direction, but my mind is not made up yet. The lack of CAG time is definitely a HUGE disadvantage. :D[/QUOTE]

well you even said that finding a new job was enivable and it would have to be done sooner than later. Thats why i said it seems you've made up your mind already. plus the option for advancement is definetly a huge positive. The lack of cag time defiently blows... ill have to find someone else to bother during the day. Rat Bastard!
 
[quote name='iufoltzie']
If you don’t mind us asking, what kind of firm? Consulting, finance, or law? They hiring? ;)[/QUOTE]

Management consulting.

The new employer is flexible with work schedules (or so they say) so I should be able to some time at home down the road.
 
[quote name='onetrackmind']well you even said that finding a new job was enivable and it would have to be done sooner than later. Thats why i said it seems you've made up your mind already. plus the option for advancement is definetly a huge positive. The lack of cag time defiently blows... ill have to find someone else to bother during the day. Rat Bastard![/QUOTE]

Yeah, I will switch jobs sooner or later so in that regard I have made my mind up. I haven't made my mind up about THIS job though. It would be nice to find something closer but that is not all that realistic. There just isn't very much out near me.

Maybe I'll have to get a PSP and surf the web on there during work hours since they will likely be watching the internet activity at this new job. :roll:
 
[quote name='chosen1s']I voted no. The best reasons to take the job are financial gains - and I think you're underestimating both your loss by changing jobs. You are losing 2 hours per day. Factoring in the time-value of money, assuming you work a 10-hour day you have taken a 20% loss right there.

You're taking a 20% loss on your retirement, which you've already agreed is a fair amount.

Then you're PAYING an additional amount in terms of gas, wear&tear on the car, etc. I just don't think it's worthwhile, unless the "advancement" opportunities are significant. My humble opinion is, if you have a good-paying job and you have reasonable hours, stay with it and use that extra 2 hours/day to seek out investments so you can get your money working for you, or looking for a better job that is either closer to you or pays a LOT more...[/QUOTE]

You are right, most of the pros are financial, which definitely makes me think twice about it. To be fair though, most of the cons are financial as well (save for the loss of 2 hours with the family).
 
Here's my analysis of the situation, looking at all of your points:

Pros -
* 13%+ increase in annual pay - which ends up being about 10% net, due to annual 2-3% COLA increases
* Better benefits - could be a huge plus, because of having the wife + very young child, costs could be expensive for healthcare (though, how are they better compared to now?)
* Larger, more prestigous firm - could be a springboard for better jobs at other companies
* More growth opportunity - a good opportunity if you're not looking for something short-term
* boredom in current job will go away - important to keep the job interesting, as it'll increase productivity
* Nice little sign on bonus - nice perk, though what's "nice little"?

Cons -
* will lose 20% vesting of retirement - at 29, you should be able to make that up quickly by changing how your portfolio is constructed with some higher-risk, higher-gain options
* will have to commute ~1 hour each way (currently work from home) - increases of cost & wear/tear on car, plus change in work schedule with commute figured in there
* tied to the above, won't be home as much to see the lil dude and wifey (it's important to note that changing jobs was inevitable though) - if this was an inventiable change, they should be understanding in the change of you being around
* CAG time will become very limited - :sad: :lol: - should be the last thing on your mind

Some questions:
1) Quantify how your benefits will be "better". Lower cost? More coverage for more things?
2) Define the "nice little sign on bonus".
3) Can you do the commute through means other than the car? I know in Chicago, your transportation options are better than they are here in St. Louis, though if you could it via train, that could be some "downtime" for you to read/listen to music/etc. I'm sure if you can do it via train, that'll even out some of the mess of the commute.
4) Do you think it'll be much issue to make up your vesting by changing around your portfolio to generate the difference?

I'd put in a vote to make the change to the new job, since IMHO, it looks like a better long-term prospect than the current one.
 
Whatever you do, I commend you for considering time away from your wife and kid as a "con" rather than a "pro". The world needs more of you...
 
[quote name='shrike4242']Here's my analysis of the situation, looking at all of your points:

Pros -
* 13%+ increase in annual pay - which ends up being about 10% net, due to annual 2-3% COLA increases
* Better benefits - could be a huge plus, because of having the wife + very young child, costs could be expensive for healthcare (though, how are they better compared to now?)
* Larger, more prestigous firm - could be a springboard for better jobs at other companies
* More growth opportunity - a good opportunity if you're not looking for something short-term
* boredom in current job will go away - important to keep the job interesting, as it'll increase productivity
* Nice little sign on bonus - nice perk, though what's "nice little"?

Cons -
* will lose 20% vesting of retirement - at 29, you should be able to make that up quickly by changing how your portfolio is constructed with some higher-risk, higher-gain options
* will have to commute ~1 hour each way (currently work from home) - increases of cost & wear/tear on car, plus change in work schedule with commute figured in there
* tied to the above, won't be home as much to see the lil dude and wifey (it's important to note that changing jobs was inevitable though) - if this was an inventiable change, they should be understanding in the change of you being around
* CAG time will become very limited - :sad: :lol: - should be the last thing on your mind

Some questions:
1) Quantify how your benefits will be "better". Lower cost? More coverage for more things?
2) Define the "nice little sign on bonus".
3) Can you do the commute through means other than the car? I know in Chicago, your transportation options are better than they are here in St. Louis, though if you could it via train, that could be some "downtime" for you to read/listen to music/etc. I'm sure if you can do it via train, that'll even out some of the mess of the commute.
4) Do you think it'll be much issue to make up your vesting by changing around your portfolio to generate the difference?

I'd put in a vote to make the change to the new job, since IMHO, it looks like a better long-term prospect than the current one.[/QUOTE]

That's a very good analysis of the situation and my list of pros and cons. See below for answers to your questions....I don't think any of the below would change your opinion.

1) Benefits will be better in that they will be cheaper and more comprehensive than what we have now.
2) The sign on bonus is $4,000 (payable with my first paycheck) which helps to offset the bonus $$$ I'll be leaving on the table by leaving at this point in the year.
3) I will be commuting via train if I get a job downtown (where this job would be). The train station is about 15 minutes from my house, it's about an hour train ride, and would drop me off a half a block from work.
4) I work with an financial advisor now and have my own retirement and savings stuff going on in addition to my work retirement so changing things around and contributing more to those accounts would be no problem especially given the extra $$$ in base.
 
[quote name='chosen1s']Whatever you do, I commend you for considering time away from your wife and kid as a "con" rather than a "pro". The world needs more of you...[/QUOTE]

Thanks for that! It's a HUGE consideration for me. I know it's cliche, but work life balance has to be there for me or it's do not collect $200, do not pass go and I have always been up front about that with my current and potential employers.
 
[quote name='chickenhawk']That's a very good analysis of the situation and my list of pros and cons. See below for answers to your questions....I don't think any of the below would change your opinion.

1) Benefits will be better in that they will be cheaper and more comprehensive than what we have now.
2) The sign on bonus is $4,000 (payable with my first paycheck) which helps to offset the bonus $$$ I'll be leaving on the table by leaving at this point in the year.
3) I will be commuting via train if I get a job downtown (where this job would be). The train station is about 15 minutes from my house, it's about an hour train ride, and would drop me off a half a block from work.
4) I work with an financial advisor now and have my own retirement and savings stuff going on in addition to my work retirement so changing things around and contributing more to those accounts would be no problem especially given the extra $$$ in base.[/QUOTE]
Good to know that the time spent in the car, using gas, is only 15 minutes, plus you'll have that hour do do what you want on the train. Could be a lot worse.

Decent enough sign-on bonus, especially if it balances out/offsets bonus $$$'s you'll be leaving behind.

The more comprehensive benefits that are cheaper are a huge plus, especially with wife + child. My current healthcare benefits are paid for 100% by the company (just for myself, though, above that would be discounted), and it's a nice little perk to offset no real increase in salary when I shifted jobs last year. Old job was ending, so it was a change I had to make in any case.

I'm sure you can make up the loss in vested 401K without much issue in a small enough period of time. I stick to my original advice of having you make the change.
 
[quote name='ryanbph']go for it, but push for a bigger bonus or hold off on leaving your current job untill the bonus comes in[/QUOTE]

Holding off is not really an option or I would be doing that. If I am going to take this job, I pretty much have to start before the end of the year.
 
[quote name='chickenhawk']Holding off is not really an option or I would be doing that. If I am going to take this job, I pretty much have to start before the end of the year.[/QUOTE]
That brings up a different question.

Did you seek them out or did they seek you out?
 
[quote name='shrike4242']That brings up a different question.

Did you seek them out or did they seek you out?[/QUOTE]

They sought me out moreso than I sought them out. I have a posted resume on monster, and a 3rd party recruiter saw that and got in touch with me. I suppose waiting until the end of the year is a possibility, but I don't want to push my luck. I already was able to get $5,000 more in base than they were originally willing to spend plus the sign on bonus which they don't normally do.
 
[quote name='chickenhawk']They sought me out moreso than I sought them out. I have a posted resume on monster, and a 3rd party recruiter saw that and got in touch with me. I suppose waiting until the end of the year is a possibility, but I don't want to push my luck. I already was able to get $5,000 more in base than they were originally willing to spend plus the sign on bonus which they don't normally do.[/QUOTE]
That shows interest in you, with the increase in salary plus the siging bonus thrown into the mix.

I'd take that as a good sign that they're interested in bringing you on-board.

I wouldn't recommend waiting until year's end, since that's two months off, though when would they be asking you to come on-board, sometime in December?
 
[quote name='shrike4242']That shows interest in you, with the increase in salary plus the siging bonus thrown into the mix.

I'd take that as a good sign that they're interested in bringing you on-board.

I wouldn't recommend waiting until year's end, since that's two months off, though when would they be asking you to come on-board, sometime in December?[/QUOTE]

Yeah, I'm looking at about a month's notice if I do take the job which would put me into the beginning of December.
 
[quote name='onetrackmind']well you even said that finding a new job was enivable and it would have to be done sooner than later. Thats why i said it seems you've made up your mind already. plus the option for advancement is definetly a huge positive. The lack of cag time defiently blows... ill have to find someone else to bother during the day. Rat Bastard![/QUOTE]

haha, I vote no b/c then he'll harass me.
I say go for it b/c you're young enough to still be able to find another job if thi one doesn't work out.
 
[quote name='joevan']haha, I vote no b/c then he'll harass me.
I say go for it b/c you're young enough to still be able to find another job if thi one doesn't work out.[/QUOTE]

:lol: Probably true.
 
I would take this job only if you are absolutely sure that you have time to spend with your kid and your wife. Nothing damages a kid more than a parent who comes home too tired to play with him, particuarily a son-father relationship.
 
[quote name='chickenhawk']:lol: Probably true.[/QUOTE]

I completely agree with the time at home with family as was stated above - thats a great attitude but since you said the change will happen then this seems like a positive direction. Plus you get OTM off yoru back.
 
[quote name='joevan']I completely agree with the time at home with family as was stated above - thats a great attitude but since you said the change will happen then this seems like a positive direction. Plus you get OTM off yoru back.[/QUOTE]

you're just jealous cause i dont bother you with my trival issues... :roll:
 
[quote name='onetrackmind']you're just jealous cause i dont bother you with my trival issues... :roll:[/QUOTE]
And unlike joevan, you actually have trivial issues. :D
 
[quote name='shrike4242']And unlike joevan, you actually have trivial issues. :D[/QUOTE]

my issues are just as trivial as OTMs :roll:

[quote name='onetrackmind']you're just jealous cause i dont bother you with my trival issues... :roll:[/QUOTE]

:cry: damn, caught me again
 
[quote name='onetrackmind']pssst hey joe its not halloween anymore... time for you to take down your copycat version of my avatar. :lol:[/QUOTE]

Yeah, I guess I should switch mine too....although Hess art is timeless.
 
[quote name='$hady']I didn't read a single word in the entire post. I vote no because of the headline, JOBS ARE FOR SUCKERS![/QUOTE]

:lol: This very true!
 
[quote name='onetrackmind']pssst hey joe its not halloween anymore... time for you to take down your copycat version of my avatar. :lol:[/QUOTE]

yea, well, I neglected to save my old one so this one's staying up for the long haul until I can find the CD with all the contest stuff burned to it. :D
 
Better pay does not always mean better job. The only thing I liked that I read was
Better benefits
- Larger, more prestigous firm
- More growth opportunity.

The worst you could do was try, I quit my last job cause of boredom and low pay. So I'm going to say go for it.
 
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