Originally Posted by saintforlife
The $80k and the $100k numbers are the base salary. At the new job I'll be eligible for 15% bonus vs 10% at my current job. Also the new employer has agreed to fully take care of my relocation to CA including house hunting trip, moving stuff in the house, cars etc.
We are also moving to CA because of better job opportunities for my wife (who is in IT). Also we both plan to do our MBAs and there are better business schools in the Bay Area compared to Houston.
So will this kind of tip the scale in favor of CA?
How much seniority have you built up in TX that you would be giving up?
To me, the CA economy just looks shaky. They are essentially bankrupt while TX is in much better shape financially. I know you are not working for either government, but I wonder what the implications of CA's financial woes are going to be for people living there.
What about the relative stability of the 2 companies?
Keep in mind that if you work in CA, even if you move away, whatever part of your pension comes from the CA work, they will tax it (I am shaky on the details, but I know some people are stuck paying CA income tax on pension income even though they don't live there anymore).
At the same time it seems to me you want an excuse to go to CA. Well you don't need any particular excuse, go on and go there if that's what you want to do. Probably the most important thing is which company will give you the best opportunities *for you two*.
And like I said it depends how you live, how you spend, save, and invest, how much worse the cost of living will be in CA. I think it's a given that COI will go up, but without knowing your habits it's not possible to say how much.
Charles, you recently moved from AL to CA, how much of a COI hit did you take?