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I'm in a dilemna

Discussion in 'Members' Lounge' started by Bob Vila, Apr 27, 2007.

  1. Bob Vila

    Bob Vila ɐןıʌ qoq Admin VIP

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    Well as some may know, I've been in the process of interviewing outside of my company.

    I've gotten an offer this afternoon for $24,000 more dollars per year. I have a second interview at another company this upcoming Tuesday and this one looks promising as well.

    I'm torn as to what to do, I can't say I'm the happiest at my current company (IMO it's gotten to big for its britches, and I feel as though I'm just a number), there seems to be no job security lately (already survived two rounds of layoffs), but I do have a ton of vacation time, corporate perks, friends, somewhat nice bonus' (I'll get these too at the other place), work/life balance - if I want to work from home I can (not sure about the new place, the second interview place I know I can), etc. etc. I guess I'm having a realization that I'm leading into an unknown knowing that I'm very comfortable at my current company. The money is very enticing however I'm sick over the fact that I have no fucking clue as to what to do. Money isn't everything and surely it wouldn't hurt to put those bucks in the bank and towards the house but like I said, it isn't everything and isn't going to be the sole reason that I leave the company.

    The company that offered is a firm of 400 people, the second interview place on Tuesday is a firm of 1800 people and my current employer is 31000 people.

    Ugh, what did I get myself into?


    I should also mention that on 9/3 I'll be fully vested in the company and with a pension - I then can take that 10g's or so and roll it over into an ira or something, If I leave now, I won't get a dime of it, as well as a Long term incentive award that is valued at 15,000 which is to pay out 3/2009. I have my 401k, which will be transfered over to the new company. I think these are the things that are really wearing me down, knowing that I have 20k accessible to me within the next few years, however, in that time frame assuming that I stay with this company, I would have already received this amount 2-3 fold just in base salary alone. Bonus potential looks to be about 12% of my yearly salary at this new place.
     
    Last edited: Apr 27, 2007
  2. BodyDroppedNikes

    BodyDroppedNikes ...PENDEJO.... VIP

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    caught in a mosh...
    have the other interview and see what happens. only then should you be really torn as to what to do...
     
  3. reckedracing

    reckedracing TTIWWOP VIP

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    whats the approx % increase?
    if its like 50% i would leave in a heart beat
    just don't burn bridges

    job security would be my #1 concern with a house
     
  4. smarty009

    smarty009 Senior Member

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    yea...what they both said...take the interview and just see what they say...then think more about it after the interview...and #1 thing to do is NOT to burn bridges...you never know if you will ever have to go back to that company or not...or you never know if they could help you out in the future with something else...just go with you heart man...do what is right for you...if the current company you are at is starting suck...and you think these new companies will be better for YOU...then go with them...dude...money is NOT everything...i know youre looking at the 401k and everything...and yea its a lot of money...but you already mentioned how much more you will be making with one of the new companies...just think about yourself in a situation like this...i would rather be happy where i work and make less...than be miserable at my work and make more...and in your case...you could be happy at your work and make more...
     
  5. pissedoffsol

    pissedoffsol RETIRED

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    a big thing to consider is that that 24k is going to bump you to max tax bracket (especially if you file jointly with robyne), so your total take home is going ot be FAR less than that. if you see more than 10 of it in your wallet, i'd be suprised.

    On the other hand, the 401k and offerings at the current place will not get hit by that.

    Me, I'm all about the small place. and even 400 is too big for me.... but compared to 31k, it gets my vote hands down. Smaller the place, the less red-tape and micromanagement exists.

    Pension is a joke. Basically, you'll have to stay there for the rest of your working life to make it worthwhile. And here you are at age 26, and already looking to leave (or possibly even get laid off). 40 more years bro! lol

    My dad is in a situation now, where he will get a HIGHER pension if he retires at 59 than if he stays longer than that. its retarded, but its typical. The 10 grand now very well may drop off over time so its something to consider.

    Plus, will they really let you TAKE your pension and move it somewhere? i've never heard of that. usually its just a number on paper until its time to retire. it's not yours to invest... it's the company's money to invest to pay for itself.

    IMO, theres more to a company than the interview. Walk around, talk to some people... see what its like there. I interviewed with nearly half my current company (yes, 4 people... lol) so i had a good idea of what i was getting my self into and what people i would be working with. A good portion of my interview was shooting the shit and talking about how microsoft sucks :D

    I say take it. Money isn't everything, but I know you're not happy there so it really can't be any worse at the new place :D plus, you get paid more.
     
  6. BigJ

    BigJ I'm just about that action Boss. VIP

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    Do the numbers.

    I mean crack the serious mother fucking numbers. Find out what you'll be paying in taxes, find out how much your pension will give you and find out how much more money or less you'll have over the next 5 Years, at the least.

    If Old job> New job cuz of the pension stay there, if New Job> Old job + Pension and you still have opportunity for one at new job, get said new job.


    Come on.


    Anyone take any management accounting on this board?
     
  7. smarty009

    smarty009 Senior Member

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    actually...i took management accounting...but only as an elective to fill up some credits...lol...it went in my head for the semester...and right back out afterwards...lol
     
  8. totalburnout

    totalburnout Well-Known Member VIP

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    Ask recked to help you with the math.

    You also have to look at potential growth. At your current company will you be able to move up the corporate ladder and potentially make more in the near future?

    How about the new job? If its +$24k up front with the possibility of greater growth, then regardless of what the current numbers are the future payout is greater with the new job.

    I'm going to go out on a limb here and say without number crunching that over an extended period of time, regardless of being bumped into a higher tax bracket, its in your financial interest to jump ship and go to the new company. Even if it is $10k cleared take home and the pension works out to be $12k cleared take home, over the next 5years you'll have made significantly more with the $10k annually.

    If you're looking to the future and thinking about retirement, start to set things up on your own. Take a look at some life insurance policies. I was just looking at a $200 a month policy when I was interviewing for my internship and the benefits of such a policy. That money, the way that the system is set up you can pull out in future years when you're ready to retire and it will be tax free. Its the same idea that the big dogs are using in hedge funds, just they obviously have far more significant amounts of money to invest. This is permanent life insurance, not term life insurance that I'm speaking to you about.
     
  9. Bob Vila

    Bob Vila ɐןıʌ qoq Admin VIP

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    43% increase. I'm three steps closer to accepting (I have until Friday), looking forward to the meeting tomorrow and seeing how that goes.
     
  10. Bob Vila

    Bob Vila ɐןıʌ qoq Admin VIP

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    Just got back from the second one. Another one coming down the pike. This week is crazy....

    :D
     
  11. TurboMirage

    TurboMirage YEEAAAHHH VIP

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    so you arent even making 50K right now? wow... i thought you made more :(

    definately take that job.
     
  12. reckedracing

    reckedracing TTIWWOP VIP

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    so what exactly is it that you do?
     
  13. JDMPlaya

    JDMPlaya Senior Member

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  14. pissedoffsol

    pissedoffsol RETIRED

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    he's in IT project management
     
  15. TurboMirage

    TurboMirage YEEAAAHHH VIP

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    you need to be an IT director :)
     
  16. Celerity

    Celerity Well-Known Member

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    I do IT Management and I took the job at Yale without doing one SECOND of negotiations to get out of the go-nowhere company that was about to tank.

    I make more than that, and I.T. Management is next in my career path too.
     
  17. Bob Vila

    Bob Vila ɐןıʌ qoq Admin VIP

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    I make well over 50k/year (base) at my current position, not including bonus', however the new positions will add that 43% or so to my base and does not include any bonus' at year's end (from what I was told, they average 12% of yearly salary for non-management individuals. I am not sure what management gets as far as bonus' are concerned).
    ____________________

    I'm a certified IT Project Manager in the Financial Services industry. I am currently studying for my PMP designation from the Project Management Insititute (PMI) and will be taking the exam in October of this year.

    ____________________

    IT Director, and IT Project Manager are completely different in all aspects in my industry - I have no ambition on being a director, however AVP or so sounds about right within the next 7 years.
     
  18. pissedoffsol

    pissedoffsol RETIRED

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  19. SiR_crx

    SiR_crx New Member

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    24K more!?!?! you son of a B.... i'd kill to make 24K a year, let alone another 24K more on top of it.... jeeze... this 19-20K per year is bullsh*t
     
  20. pissedoffsol

    pissedoffsol RETIRED

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    you live in nebraska dude. lol
     
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