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Does it ever makes sense to take a step back in pay and benefits?

Posted on 1/31/17 at 7:24 pm
Posted by Jorts R Us
Member since Aug 2013
17238 posts
Posted on 1/31/17 at 7:24 pm
I have an opportunity to work for a Fortune 50, but I'd have to take a step back in title, and my commute would go from 10 minutes to an hour. The vacation policy is also less favorable and I lose a week although it sounds like I can use sick days to maybe make up some of that. Oh, and I lose 5k off my base (90k to 85k) but i get a signing bonus for the difference in the first year.

Is it worth it? It feels like I'm losing a little too much but I think this new job could be a good investment for the long term.

I'm a tax manager, for whatever that's worth.
Posted by Teddy Ruxpin
Member since Oct 2006
40672 posts
Posted on 1/31/17 at 7:39 pm to
quote:

my commute would go from 10 minutes to an hour


frick that
Posted by DawgCountry
Great State of GA
Member since Sep 2012
32767 posts
Posted on 1/31/17 at 7:40 pm to
It depends what you think your growth prospects are at new company vs old company

If you can move up faster at new company it could be worth it
Posted by TrebleHook
Member since Jun 2016
1356 posts
Posted on 1/31/17 at 7:53 pm to
Subtle brag bro
Posted by kywildcatfanone
Wildcat Country!
Member since Oct 2012
137646 posts
Posted on 1/31/17 at 7:54 pm to
Do you think your growth potential is better at the new place? Would it make you happier?

Posted by Epic Cajun
Lafayette, LA
Member since Feb 2013
36709 posts
Posted on 1/31/17 at 8:07 pm to
Before I took my new job I would have left my previous job for less pay and benefits, if it meant that I could work from home. Luckily, I didn't have to do that

If your current job is stable, I don't see a benefit that will out weigh the longer commute. Maybe if you are really early in your career. Is there a possibility that you could move closer to your new job?
Posted by yellowfin
Coastal Bar
Member since May 2006
98818 posts
Posted on 1/31/17 at 8:17 pm to
1. I would never work for a company that large.
2. I would never work an hour away from my house. Doing that once was enough
Posted by WILDTURKEYisgood
Madisonville
Member since Aug 2010
3320 posts
Posted on 1/31/17 at 8:42 pm to
I took a 30k pay cut 2 years ago to relocate to better school district and work for a better company with more advancement opportunities. 6 months ago I was promoted (i would have guessed that it would have taken about 4 years) and making more than I was originally, still having the better hours.
Posted by barry
Location, Location, Location
Member since Aug 2006
51357 posts
Posted on 1/31/17 at 8:58 pm to
quote:

Does it ever makes sense to take a step back in pay and benefits?


How are you going to a F50 and your benefits are going down?
Posted by Ric Flair
Charlotte
Member since Oct 2005
13873 posts
Posted on 1/31/17 at 9:19 pm to
90k to 85k seems like a wash in my book. The commute is a bigger issue.
Posted by TheWalrus
Land of the Hogs
Member since Dec 2012
46447 posts
Posted on 1/31/17 at 11:23 pm to
The answer to the question in your subject is yes, a lot of times. This seems like a situation specific question hidden in a generalized title.
Posted by Jorts R Us
Member since Aug 2013
17238 posts
Posted on 2/1/17 at 6:13 am to
The reason pay is going down is because this would be a senior role vs manager, but I'd be going from small company to F50. It's also an international tax role and that's not an area I've had a lot of experience in. They are manager heavy so going over as a manger isn't an option.

I work for a person right now that just doesn't know their stuff as much as she thinks she does. I have to walk her through why she's missing the issues and i usually deal with the external consultants (friends of mine) through the back channels to move things along. Frankly, I think it's not enough of a challenge for me.

The bigger issue for me with the F50 is the benefits. The pay is a wash. The commute I could even make peace with. But they are offering one week of vacation and 5 sick days in year one when I currently get 3 weeks of PTO plus sick days. The F50 vacation does jump to two weeks after year 1.

The F50 job will be more demanding, in sure. So I'd be accepting longer hours, longer commute for slightly less pay and less time off. It's tough to swallow that. I'm not in a huge market so the number of corporate tax jobs in the area are limited. This F50 department seems like a solid bunch in terms of brains, experience, and personalities (ie I think it would at least be a positive culture, environment).

I just think I'm giving up too much if I go and I worry I'll resent that once the polish is off the new, shiny job. I could live with losing title for experience. I could make peace with the commute because I like listening to my language CDs on drives so it's not wasted time. But when you throw in the less favorable vacation time for a role that could average 50-60 hours a week, I think that's a lot to give up. I'm justified in that right?
This post was edited on 2/1/17 at 6:17 am
Posted by wfallstiger
Wichita Falls, Texas
Member since Jun 2006
14981 posts
Posted on 2/1/17 at 7:01 am to
Depends

Many moons ago I basically started over, salary was about 2k less, had to start accumulating time off and left quite a bit, commute was shorter, much, other benefits about the same.

One of the main reasons was education of children.

All worked well, retired about 3 years ago.
Posted by BeerMoney
Baton Rouge
Member since Jul 2012
8830 posts
Posted on 2/1/17 at 7:58 am to
You obviously feel it's worth it for you professionally. We are in different but similar fields but in my field it's beneficial to work in a number of different vertical markets just for perspective and exposure.

If you don't have kids then I don't see any real reason you shouldn't give it a shot. You obviously want to do it and feel like it'll help you long term. Even if you're begging to come back to the old place in 2 years you won't have lost anything. You'll gain experience and knowledge from jumping in on that big role.

Don't do the same year 75 times and call it life. -Robin Sharma
Posted by lynxcat
Member since Jan 2008
25095 posts
Posted on 2/1/17 at 10:03 am to
Why can't you counter and get an extra week on vacation? That seems to be what is holding you back.
Posted by Jorts R Us
Member since Aug 2013
17238 posts
Posted on 2/1/17 at 10:15 am to
Apparently it's not negotiable. Strict HR policy. It seems like it is one week of vacation that is holding me back but it's that on top of all the other things I give up. I Think it's just one thing too many.

I'm about 8 years into my career. Newly wed and no kids...yet. Wife is already hating the idea of an hour commute which is weighing on me too. She values the flexibility and hours at the current job and I get that, especially since we plan on trying for kids in the next year. She is the breadwinner and likely will be for the foreseeable future. I guess what is driven this is that I am not satisfied professionally even though from a personal perspective I'm in a fine place. We don't really need the extra income but I don't want to be bored with my career either.
This post was edited on 2/1/17 at 10:21 am
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 2/1/17 at 10:21 am to
Are you a goals oriented person? I mean, do you set written goals that guide your actions?

Let's look five years down the road. From what you know of your current job vs. the new one, which job puts you closer to your goals over that time period?

I don't know how old you are, your current financial needs, your family status or where you are in your career. Those are also big factors, as others have said.

IMO, if you're single and in the early part of your career, I'd choose the job that would provide the best step to the next rung on the ladder within 3-5 years. If you're 40 and have a wife and kids, maybe you decide to just stay where you are and take advantage of the short commute for as long as it lasts.
Posted by 632627
LA
Member since Dec 2011
14751 posts
Posted on 2/1/17 at 10:24 am to
are you happy at your current job? do you have a good relationship with your coworkers and superiors? do you sit and stare at the clock all day long waiting until its time to leave?

i agree that 90 to 85k is pretty much a wash. the much longer commute will suck. it's tough to put a price on happiness, so that should be a consideration.
Posted by castorinho
13623 posts
Member since Nov 2010
87089 posts
Posted on 2/1/17 at 10:24 am to
quote:

IMO, if you're single and in the early part of your career, I'd choose the job that would provide the best step to the next rung on the ladder within 3-5 years. If you're 40 and have a wife and kids, maybe you decide to just stay where you are and take advantage of the short commute for as long as it lasts.


Well put.
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