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How do you measure/quantify non-monetary benefits against the dollar?
Posted on 3/31/17 at 1:12 pm
Posted on 3/31/17 at 1:12 pm
For those that have taken less money opportunities, curious to hear how people weigh or measure the "other benefits" against the money they are missing out on - whether that be more enjoyable job, less of a commute, better quality of life, or even a better job even though its less pay.
I'm struggling a bit in my head with it. There are some great positives to the other position, but leaving $30-$35k/yr on the table has its costs too. In 3 years, that's $100k missed.
How do you analyze that "is it worth it" question?
I'm struggling a bit in my head with it. There are some great positives to the other position, but leaving $30-$35k/yr on the table has its costs too. In 3 years, that's $100k missed.
How do you analyze that "is it worth it" question?
4
Posted on 3/31/17 at 1:31 pm to Htown Tiger
Take the number under the face at your old job minus the number under the face of your new job. Multiply by $5k
This post was edited on 3/31/17 at 1:32 pm
Posted on 3/31/17 at 1:31 pm to Htown Tiger
Imo, you can't truly quantify things like happiness, etc. best i can come up with is look at the life you live now. Look at what you do for fun, where you vacation, save, etc.. now imagine you make 30% less and imagine doing the above. Does it affect you at all? Can you still do all of that? Do you care if you have to save less or cut some things out? What lifestyle changes will your family have to make as a result (not trying to guilt, but something to consider).
Flip side: are there greater potential for future opportunities with this job that would counteract the immediate drop in $$ in say 8-10 years? Personally, that would be the only reason i choose to leave a job on my own.
When it comes to pto, commute, location, and time spent working, that shouldn't be too difficult to definitvely establish.
I'd be curious to see what the wiser folk in here have to say.
Flip side: are there greater potential for future opportunities with this job that would counteract the immediate drop in $$ in say 8-10 years? Personally, that would be the only reason i choose to leave a job on my own.
When it comes to pto, commute, location, and time spent working, that shouldn't be too difficult to definitvely establish.
I'd be curious to see what the wiser folk in here have to say.
Posted on 3/31/17 at 1:53 pm to Htown Tiger
(no message)
This post was edited on 9/26/20 at 10:58 pm
Posted on 3/31/17 at 2:11 pm to Htown Tiger
The starting point is deciding how much money you "need" to make to attain the things that find the happy medium between "need" and "want". For me, I could have earned easily 25% more than I did. But I was more concerned about keeping hours low enough to spend time with my kids as they were growing up, having vacation time when I wanted it, not working weekends, etc. Your life can change- or end - in an instant. There are a lot more important things than making the maximum amount of money you can possibly make. Don't get caught up with working yourself to death so you can retire early or ball out in your golden years - you don't know you'll ever live see those days. Then again, you don't want to spend life driving a Prius. Dtermining how much is enough is a question people can only answer themselves. And it's hard to put a price on having a job you actually enjoy.
Posted on 3/31/17 at 2:15 pm to TrebleHook
quote:
TrebleHook
I like it. Although it only came out to $20k. haha
Posted on 3/31/17 at 2:19 pm to shotcaller1
quote:
shotcaller1
Yeah, I wouldnt say my lifestyle would really change much. I think we'd live pretty much the same way, with just a bit less savings. It's more about how easy other things would be- like 2 kids soon to be starting catholic school. It would help a ton there. But I dont think it really affects how we live.
The question about the future opportunities is the main reason the other job is there. Someone once told me its not about the next job sometimes, its about the one after that. It definitely sets me up for that possibility down the line...though of course there are no guarantees.
Posted on 3/31/17 at 2:41 pm to Htown Tiger
quote:
I like it. Although it only came out to $20k. haha
$30k pay cut > $20k quality of life benefit
Should keep the better paying job
This post was edited on 3/31/17 at 2:42 pm
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