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I have a job that has crappy pay. We do not get COL raises, no raise at the company for anyone in the last 7 years. I make less than the national average pay of a US person and I have a Master's degree in Finance.
The time off, the people, the schedule, the benefits, and lack of stress are all good. I'm highly over qualified for the job and could be pulling in 30-45% more than what I make if I take another job. Everyone always wonders why I stay in the position that is 'under' what I 'should' do. Yes, most days I'm bored but I look at it as being a blessing as I watch friends hate their jobs. But, I'm maxed out as far as promotions at age 28.
How do you know when to move on and what is worth giving up?
I think you already know. The moment you start asking yourself the question " How do you know when to move on and what is worth giving up?" then you know you should start looking. The nice thing is, you are employed and like the company. This will make the job hunt easier and less stressful.
Remember, while you can find a job with the same enjoyments but with higher pay, it will take time to adjust to the culture of that new company. There will be a feeling out period, which may make you question your decision.
You probably know this but, do not leave until you have another job lined up!
Also, are you sure there is no room to grow within the company? Have you tried discussing career goals with a boss or mentor?
Another thing to consider is if you are able to currently live within your means or is your lower pay scale affecting your quality of life. I don't mean "Oh man, I can't buy that Audi I have my eye on," but are you able to make rent, afford a vacation every once in a while, that type of thing?
You could very well step into a new job with higher pay and end up hating it and feeling extremely stressed out. Tread very carefully here. Scout out any companies before making a move: make some connections on LinkedIn and other business-related social media and try to feel out the company culture.
The good news is that you have a job that you like right now, so you won't feel pressure to GET.THAT.NEW.JOB.IMMEDIATELY!!
Coach, I am in a very similar situation to you. I'm a recent college grad in Business Management. I work in HR in a small financial company. The people are fun to work with, there isn't much stress, and I've been given a whole lot of high level responsibility in a short amount of time.
The biggest downside has been the pay. I think i make way less than a college grad should make, and with all the added responsibility I've been given, there's been no title change or promotion. I did get a fairly decent raise on my last performance evaluation, but I'm still making well under the market average.
Now granted, I'm only 25, and have been working for about a year and a half. So I think I definitely have more room for growth, but I know the only way that will happen is if I get a title change (I work in a department of 3).
I've been scoping out the job market looking for any job opportunities. I think you should keep in mind that when you work in a toxic environment, making a few extra thousand dollars a year will quickly not seem worth it. So I would listen to the advice of trying to see what you can do at your current company and being very cautious when moving to another.
I just left a job where I was overpaid and bored silly. I would receive less than 10 work emails a day and some of those were just spam. Spoke with others in my department about 1 time per week for an hour. Had no face to face interactions since my 'team' was remote in California/and Romania.
I've taken a job that revitalizes my experience in software development and gets me working with others. It sucks that it is less pay and also now higher rent. I will be able to last a year and then look to bailing to save on rent.
Haha.. sounds like my situation as well, coming from another underpaid MSF.. (except some days/weeks it can be quite stressful, once in a blue moon.)
In that situation, you might want to find more things to do.. not necessarily things related to work (if you can get away with it.) Focus on learning new skills.. read some Finance books, study for the CFA (if you don't already have it), etc. If you have a smartphone, consider using it to search for jobs (I'd advise not using the company network for obvious reasons.) Until you found something else, just hang in there.. there are many unemployed and underemployed people in Finance who would love to be in your situation: underpaid but also underworked rather than unemployed or working at a minimum wage job.
Whatever you do, do not leave without another job lined up.. you say you're bored.. imagine how much worse it'll get without a job (not to mention no income)!
Last edited by ragnarkar; 09-06-2012 at 08:23 AM..
At 28 you are young. This is the time to take risks. Look for another job, but make sure you really interview the other companies that it is a good fit.
I am still searching after leaving the same situation as you (on company number 2). The first leap I took because I had the same question in the back of my mind for two years. I was so excited I lept without looking. The second one I wanted to make sure was a good match. I did, but unfortunately the reality is completely different.
I have a job that has crappy pay. We do not get COL raises, no raise at the company for anyone in the last 7 years. I make less than the national average pay of a US person and I have a Master's degree in Finance.
The time off, the people, the schedule, the benefits, and lack of stress are all good. I'm highly over qualified for the job and could be pulling in 30-45% more than what I make if I take another job. Everyone always wonders why I stay in the position that is 'under' what I 'should' do. Yes, most days I'm bored but I look at it as being a blessing as I watch friends hate their jobs. But, I'm maxed out as far as promotions at age 28.
How do you know when to move on and what is worth giving up?
In my opinion, there is only one reason to work and that is to make money. If I wasn't getting what I wanted/deserved, I'd be hitting the road pronto.
If you're bored most days, then it's not great with everything besides pay.
I don't know if bored is always a bad thing. It's annoying but certainly better than having so much work that you never have time to breathe.
Thanks for the advice. It's tough but I'd never leave without another job. I know better than that! Ha
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