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Old 01-28-2015, 11:46 AM
 
170 posts, read 233,412 times
Reputation: 129

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(This is being crossposted in the Employment forum, but this is very much related to Los Angeles, so I thought it might be well placed here, as well.)

So I have a little situation I'm in and I would love some outside, unbiased opinions (I apologize in advance for the detailed post, feel free to skip to the bottom if you aren’t interested in the details…)

Professional Background: I have over 12 years’ experience in supply chain/logistics/production control with 8 of those years being in Aerospace Manufacturing. I'm currently in a leadership role, but am limited to growth in my current (Fortune 500, top 150) company because of a lack of formal education. I’m an hourly employee that is held in high regard by my peers, management, and subordinates. I makes just over 50k a year with minimal overtime/bonuses.

Personal Background: I'm an early 30's male, recently married and have no children (we have two dogs and a cat.) I own our home in a great neighborhood, and have decent equity in it. Not a dream home by any stretch, but exceptional for a (at the time of purchase) 24 year old kid.

Situation: My wife and I have talked for YEARS, about relocating from our home town in Arizona to someplace in Southern California. Her family is from there, I'm all about the big city, and we have discussed this over our relationship, at nausea. Well, come the end of last year, I got a phone call from a recruiter that saw my LinkedIn profile and wanted to know if I was interested in a opportunity in Los Angeles. Ok, I'll bite....so they fly me out, put me in a nice hotel, and interview me three times in four hours. The company is progressive and the people are amazing. I'm totally interested.

Since December, I’ve talked to the recruiter four times. Many discussions were had on what my plan is, if I’ve been looking into housing, and what my requirements are for relocation. It’s also been discussed that the company knows I’m applying for a “lower” position than what I’m qualified for, but they have higher expectations for me and they aren’t expecting me to stay in this role for very long. They are outwardly very interested in me.

Monday they gave me an initial verbal offer, which is significantly lower than my current pay rate. Like, 20% lower. My response was a simple “it’s low” (FWIW, the offer includes 30 days in corp housing or option to cash out the relocation cost (<$1,500) and pre IPO stock options. Not to mention the other fringe benefits are exceptional. Like I said, very progressive.) The recruiter went back to see what they could do, and yesterday responded with another verbal offer with an additional dollar an hour more, with all other terms staying the same, which is still significantly lower than my current pay and about 40% lower than my initial salary request (which was based on my current salary, and the MIT Living Wage Calc.) Their response is that this is an hourly job with very consistent OT (16 hours a week), and that combined is actually over what I had originally asked them for in salary. In their words, the survivability of the wage is completely dependent on the drive for MANDATORY overtime.

The whole premise behind relocating to this job is that I’m taking a step backwards to have the ability to grow more professionally. To actually be able to do what I’m good at, and what I can see myself doing long term. Plus, my wife and I get to experience the “fleeing the nest” and do it with at least some sort of stability with a very good company. BUT, what kind of life could I actually live if I’m working a 10 hour shift that starts at 3pm, and work three Saturdays a month, with really no guarantee that I advance as they describe?

So what do you guys think? Is it worth leaving my cushy, stable, yet personally dissatisfying existing job, and very ho-hum lifestyle, for an exciting, yet possibly exhausting opportunity with a very innovative company? How much weight should I put into the potential limitless growth opportunity, while possibly missing out on A LOT of “outside of work” personal stuff? Oh yeah, not to mention the fairly significant financial hit of losing 18% of my pay (if the OT stops), and going into a city that is 21% more expensive (based on MIT COL Calc)….

Thanks all...
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Old 01-28-2015, 12:01 PM
 
Location: West Hollywood, CA
490 posts, read 656,749 times
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Does your wife work? Are her job prospects in LA realistic? If not, will she consider working?
I would say go for it, while you're young and childless.
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Old 01-28-2015, 12:07 PM
 
822 posts, read 1,279,044 times
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Some quick comments...
1) If you do this it would be for the upside from the IPO. Having said that, are they backed by a major VC? The better the current investors, if any, the more likely you would be able to monetize the change. This is the major reward for your risk. But make sure there is the possibility of a reward. How many options are they granting you?
2) You didn't say if your wife works. $50K is going to make living in El A difficult unless you accept a lower standard of living relative to AZ.
3) The relocation costs are expected. They should not be a major factor in your decision. If you need more money ask for it. Whatever you estimate it takes. Usually for a corporate relocation, they might set it up and pay directly. Regardless, this is a minor variable.
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Old 01-28-2015, 12:25 PM
 
170 posts, read 233,412 times
Reputation: 129
Quote:
Originally Posted by IM90046 View Post
Does your wife work? Are her job prospects in LA realistic? If not, will she consider working?
I would say go for it, while you're young and childless.
Yeah, she is an Aveda hair stylist. Unfortunately she isnt/won't be qualified to be licensed in CA for at least a few months. She will be working, somehow, somewhere, until we have our first child.

Quote:
Originally Posted by BeatAngMoh View Post
Some quick comments...
1) If you do this it would be for the upside from the IPO. Having said that, are they backed by a major VC? The better the current investors, if any, the more likely you would be able to monetize the change. This is the major reward for your risk. But make sure there is the possibility of a reward. How many options are they granting you?
2) You didn't say if your wife works. $50K is going to make living in El A difficult unless you accept a lower standard of living relative to AZ.
3) The relocation costs are expected. They should not be a major factor in your decision. If you need more money ask for it. Whatever you estimate it takes. Usually for a corporate relocation, they might set it up and pay directly. Regardless, this is a minor variable.
1) Yes, there is a major/high profile investor. Some entities value the company somewhere between 1-3.5B. Not too sure of the financial details as I'm still waiting on the email with the first "official" offer.

2) My bad, see previous quote reply.

3) Yeah, I'm strongly leaning towards asking for another month or two as opposed to fighting for more "salary." That would make the move a lot easier, would possibly pay for our rental deposit, and would most definitely buy us some time to figure out a more realistic budget before signing said lease.
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Old 01-30-2015, 11:10 AM
 
170 posts, read 233,412 times
Reputation: 129
Update:

They have come up again (third time around.) It's not a lot, but it's enough to make it much more comparable to what I make now, even excluding the OT (OT is now "icing on the cake" and not part of the budget.) Plus they are increasing relocation costs (and covering the deposit on a new lease, up to $2000.)

The only thing left to "negotiate" now is the hire date. They want ASAP, but the earliest I can make it work is 3/9. I really dont think that is super out of line considering it's an out of state move....
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Old 01-30-2015, 11:32 AM
 
Location: TOVCCA
8,452 posts, read 14,976,569 times
Reputation: 12529
Jump for it. They want you, but my feeling it that you've pushed them enough. I would move when they say to. Your wife can handle the moving details. Many couples do this.

In CA she would need to work Saturdays anyway, and many salons have evening hours now, so your hours may be able to match hers, and you could align your free time.
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Old 01-30-2015, 02:26 PM
 
170 posts, read 233,412 times
Reputation: 129
Quote:
Originally Posted by nightlysparrow View Post
Jump for it. They want you, but my feeling it that you've pushed them enough. I would move when they say to. Your wife can handle the moving details. Many couples do this.

In CA she would need to work Saturdays anyway, and many salons have evening hours now, so your hours may be able to match hers, and you could align your free time.
My concern isn't about having faith that she can help with the moving stuff. It's getting everything closed out properly at my existing job (I feel that is only right and I would do it for them, as well), having a few days to do some neighborhood searching with my wife before sending her back home, and lastly getting acclimated to a late second shift.
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Old 01-30-2015, 04:14 PM
 
17,815 posts, read 25,544,071 times
Reputation: 36267
Quote:
Originally Posted by nightlysparrow View Post
Jump for it. They want you, but my feeling it that you've pushed them enough. I would move when they say to. Your wife can handle the moving details. Many couples do this.

In CA she would need to work Saturdays anyway, and many salons have evening hours now, so your hours may be able to match hers, and you could align your free time.

Why do you say jump for it?

The OP will be making less money for starters and the wife hasn't bothered to pursue getting herself licensed in CA as a hair stylist. Is she willing to sweep up hair in a salon for a few months and make a lot less money in the interim.?

OP, you mention you own your home in AZ. What is the plan there? Are you going to rent it? You won't be able to sell it by March.

What if you can't find suitable tenants to rent to, remember now you're a long distance landlord. You can't go by every couple of weeks and check on the house to see if the house isn't being trashed.

So what if you end up having to pay your mortgage in AZ, a rental in LA, and your wife can't work in her field for a few months.

Sorry, sounds like a disaster. You're reducing your income, increasing your expenses.

You don't mention that you hate AZ or say you can't stand the intense heat, if you're content there stay.
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Old 01-30-2015, 05:33 PM
 
Location: TOVCCA
8,452 posts, read 14,976,569 times
Reputation: 12529
Quote:
Originally Posted by seain dublin View Post
Why do you say jump for it?

The OP will be making less money for starters and the wife hasn't bothered to pursue getting herself licensed in CA as a hair stylist. Is she willing to sweep up hair in a salon for a few months and make a lot less money in the interim.?

OP, you mention you own your home in AZ. What is the plan there? Are you going to rent it? You won't be able to sell it by March.

What if you can't find suitable tenants to rent to, remember now you're a long distance landlord. You can't go by every couple of weeks and check on the house to see if the house isn't being trashed.

So what if you end up having to pay your mortgage in AZ, a rental in LA, and your wife can't work in her field for a few months.

Sorry, sounds like a disaster. You're reducing your income, increasing your expenses.

You don't mention that you hate AZ or say you can't stand the intense heat, if you're content there stay.
But I recommended that the wife stay behind for all the details. She could therefore keep working in AZ. He could stay in an extended stay place.
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Old 01-30-2015, 06:11 PM
 
17,815 posts, read 25,544,071 times
Reputation: 36267
Quote:
Originally Posted by nightlysparrow View Post
But I recommended that the wife stay behind for all the details. She could therefore keep working in AZ. He could stay in an extended stay place.
Than they're paying a mortgage in one state and rent in another, in addition taking a pay cut for the OP.

So the expenses are going up, while the income has gone down.

You might do this if you were seeing a decent increase in income, but they're not.

And what is the plan with the AZ house? Even if you want to rent it, the wife has to get out of it and get their stuff out of it.

This doesn't sound well planned at all.

In this case, IMO it is a mistake.
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