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So, I've worked in a wide array of environments for different companies and have seen some true lows and highs as far as work environments, pay, and perks go. Finally, I feel that I have found a company and role where I cannot say a single bad thing about my job.
My commute is under 5 minutes, I'm paid extremely well for the area, I have more vacation than I know what to do with, my health insurance is free, I have 401k match and pension, company gym, free parking, enjoy my work and like all of my co-workers. I've sat down for 1:1 chats with senior VPs to discuss how things are going and I legitimately did not have a single complaint.
However, my 'field' is absolutely booming in this area right now. It seems that there are very few qualified candidates that do what I do in this area with an excess of openings. I'm being pursued pretty aggressively by recruiters to check out openings that would yield a >40% pay increase over what I'm already making.
Yet... I've told every one of them that the timing is not right and that I am happy where I am at. Is this crazy? We're talking about life changing amounts of money here. However, I recognize how happy I currently am and choose to pass it up because I know that no amount of money can fill the gaps of a company and co-workers you genuinely care about.
Just curious to get your thoughts on this. Part of me feels like I'm passing up something big. The other part tells me that I'm doing the right thing and that it would be stupid to rock the boat when you've got something so good and stable.
I'd stay put. I put a high monetary value on my healthy and happiness. It sounds like you are pretty well set right now and a bit of extra money is not worth the potential to lose it all.
I do not rely on anyone for my happiness but the work in itself. Your fear of the unknown does not make sense to me because if you have good coworkers you can find good coworkers there. People are replaceable. You never know till you try.
So, I've worked in a wide array of environments for different companies and have seen some true lows and highs as far as work environments, pay, and perks go. Finally, I feel that I have found a company and role where I cannot say a single bad thing about my job.
My commute is under 5 minutes, I'm paid extremely well for the area, I have more vacation than I know what to do with, my health insurance is free, I have 401k match and pension, company gym, free parking, enjoy my work and like all of my co-workers. I've sat down for 1:1 chats with senior VPs to discuss how things are going and I legitimately did not have a single complaint.
However, my 'field' is absolutely booming in this area right now. It seems that there are very few qualified candidates that do what I do in this area with an excess of openings. I'm being pursued pretty aggressively by recruiters to check out openings that would yield a >40% pay increase over what I'm already making.
Yet... I've told every one of them that the timing is not right and that I am happy where I am at. Is this crazy? We're talking about life changing amounts of money here. However, I recognize how happy I currently am and choose to pass it up because I know that no amount of money can fill the gaps of a company and co-workers you genuinely care about.
Just curious to get your thoughts on this. Part of me feels like I'm passing up something big. The other part tells me that I'm doing the right thing and that it would be stupid to rock the boat when you've got something so good and stable.
I was in a similar situation. I took the money and the new company was great at first. Then they hired someone new to be my manager and I couldn't stand the new guy(neither could 3/4 the other people in the department). Fortunately for me, after I took the money job, my former "unofficial" boss left the old company and went somewhere new and contacted me to see if I wanted to come work with him.
Wound up getting another pretty good raise and got to work with someone I liked again.
Yeah, there was some luck involved, but those two hops got me about a 60% raise. I don't regret that move at all.
Sometimes you just have to take the leap. That 40% raise is going to compound over the years both in the form of your new higher salary per year as well as bigger raises(i.e. 3% of $100k is more than 3% of $50k).
If you already have the most valuable commodity available, time, and on top of that you have a well paying job and healthy benefits, you are ahead of pretty much everyone I know.
You're not crazy, sounds like a great thing you've got going. However, I also think it doesn't hurt to explore and have a sense of what is out there.
But it is curious to me that you say you are being "paid extremely well" but there are similar positions out there that offer >40% more. If true, why would you think you're paid extremely well? Sounds like the opposite.
Thanks everyone for the advice so far, it has helped me maintain perspective that money is not everything.
G-fused -- I'm just basing it on national averages for role, industry, education, skillset, etc. My current company well exceeded national averages and I live in a city that is much below the national average for cost of living. I also know a good chunk of those in my area who have similar roles with large companies and their input makes me think that I'm currently well compensated for where I live.
The company offering direct hire 40% more has been searching for months utilizing multiple recruiting companies. Its headquarters is based out of the highest CoL city in the US, while they're hiring for a local office here. My guess is that they're willing to pay San Francisco wages for the right person here even though cost of living here is on the other side of the spectrum.
While $100K (for an example) is chump change in San Francisco, it actually equates to around $165K buying power where I live according to CoL calculators.
40% pay raise at competitors might mean you are paid well below market rate. Is this true? Or are you getting the 40% by comparing to an hourly rate at a contract jobs that doesn't give PTO or benefits? You have to factor the costs of benefits/PTO/matching 401k to really see if it's a 40% difference.
If I found I was paid well below market rate...
I would start negotiation at my current company to get my pay more in line with market rate. I would do it softly at first and verbally ask the boss what we can do to get my salary increased and then hopefully come up with a plan.
Then again, pay is one of the things near the top of my list. Every individual has their own things that are at the top of the list in terms of 'importance' for their career.
40% more in wages, is life changing, to be sure. But taking a job that pays 40% more in wages would also be life changing.
If you are just getting by and don't have enough to do what you want to do in life, this may be the answer to your prayers, and a change in your lifestyle might be worth it.
But if you're comfortable financially and can do what you want, it's not worth giving up all the things you listed.....as well as your health. A longer commute, longer hours, a more demanding environment, more stress - they're like a stream of water rolling over a rock and eroding it.
So only you can answer that question and I think where you currently are financially is the only thing you should consider in making a decision.
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