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Started By
Message
What percentage of a bump in pay would it take for you to move
Posted on 1/3/18 at 6:25 pm
Posted on 1/3/18 at 6:25 pm
I know this has been asked before, but my company is moving three hours away.
Basics:
- Merger with another company.
- 15% to 20% bump in base, but take away 5% for cost of living increase.
- Single no kids late 40's
Pros:
- Top management will be mostly from my company.
- If the same incentive structure and 401k plan stay in play that's even more $$$.
- Gets me out of of a city I don't like very much, but it's not horrible.
Cons:
- It takes me away from being near my mom, to be close to my parents is why I moved her as they got older (ended up losing my father earlier this year.)
- The move is North so to a colder climate.
- Will have to commute in a bigger city.
- Big acquisition company, like one every 12 to 18 months, so job stability is questionable.
- Depending on the role I choose, I may not report directly to my old boss anymore who is very good to work for.
- Moving me to another city I really don't care to live in.
Basics:
- Merger with another company.
- 15% to 20% bump in base, but take away 5% for cost of living increase.
- Single no kids late 40's
Pros:
- Top management will be mostly from my company.
- If the same incentive structure and 401k plan stay in play that's even more $$$.
- Gets me out of of a city I don't like very much, but it's not horrible.
Cons:
- It takes me away from being near my mom, to be close to my parents is why I moved her as they got older (ended up losing my father earlier this year.)
- The move is North so to a colder climate.
- Will have to commute in a bigger city.
- Big acquisition company, like one every 12 to 18 months, so job stability is questionable.
- Depending on the role I choose, I may not report directly to my old boss anymore who is very good to work for.
- Moving me to another city I really don't care to live in.
This post was edited on 1/3/18 at 6:30 pm
8
Posted on 1/3/18 at 6:29 pm to DoUrden
3 hours doesn't seem far
Posted on 1/3/18 at 6:38 pm to DoUrden
Sounds like your options are a bit more limited in this situation.
I'd take a 15-20% bump to move with my current company in lieu of having to find another job in the town I don't like.
I'd take a 15-20% bump to move with my current company in lieu of having to find another job in the town I don't like.
Posted on 1/3/18 at 7:00 pm to DoUrden
just reading your post, sounds like you should stay put
Posted on 1/3/18 at 7:12 pm to DoUrden
One major issue you didn't address...
If you stay, what are your employment options?
Unless I misunderstood something, you're comparing a salary bump to your current job...which is going away, is it not?
If you stay, what are your employment options?
Unless I misunderstood something, you're comparing a salary bump to your current job...which is going away, is it not?
Posted on 1/3/18 at 7:15 pm to DoUrden
Depends on how much the 15-20% equates to.
Posted on 1/3/18 at 7:23 pm to Moots
quote:
If you stay, what are your employment options?
Unless I misunderstood something, you're comparing a salary bump to your current job...which is going away, is it not?
Currently I'm the controller along with IT and HR. They have an HR person and I am glad because I hate that shite.
Options seem to be:
Assistant controller (they are keeping the CFO and current controller) which puts other managers between me and the COO, my current boss.
A mixture of Accounting and full on site IT control.
Cost Accountant, hard pass.
I have gravitated to privately held companies because I always report to the owner or president.
I implemented the ERP we are going to use company wide, the company we are merging with is using Peachtree.
The president of my current company soon to be the COO has assured me whatever roll I choose I will be compensated.
Posted on 1/3/18 at 7:26 pm to LZ83
quote:
Depends on how much the 15-20% equates to.
Lets just say if the incentive program is adopted it puts me real close to six figures.
Posted on 1/3/18 at 7:30 pm to DoUrden
I might would take that. Sounds like a decent deal and it’s only 3 hours away. If you don’t take it, hopefully there is no consequences.
Posted on 1/3/18 at 7:42 pm to DoUrden
quote:
- 15% to 20% bump in base, but take away 5% for cost of living increase.
- Single no kids late 40's
Both of these are good for relocation. Have you actually found the 5% increase in COL? We talking just housing? Have to be a helluva increase in housing cost to equate to a 5% salary loss.
quote:
- Gets me out of of a city I don't like very much, but it's not horrible.
Another solid point.
quote:
Cons:
- It takes me away from being near my mom, to be close to my parents is why I moved her as they got older (ended up losing my father earlier this year.)
How near are you now? 3 hours isn’t much. But if you’re really taking care of her, that’s an issue. If you just need to be close to spend time with her and assist with major things, 3 hours doesn’t really change this THAT much.
quote:
- The move is North so to a colder climate.
Again, 3 hours. We’re not talking temperate to artic here.
quote:
- Will have to commute in a bigger city.
Housing location plays heavily into this. Are you not commuting now? Time-wise, this should play into that 5% COL as closer should be more expensive (but less commute). Or just the general discomfort of driving in 7 lanes of traffic?
quote:
- Big acquisition company, like one every 12 to 18 months, so job stability is questionable.
- Depending on the role I choose, I may not report directly to my old boss anymore who is very good to work for.
This part kinda sucks. However, depending on who you do report to, you can create more value for yourself. If your current boss values you, and he’s in a higher position, this should help you provided the new boss is not awful.
quote:
- Moving me to another city I really don't care to live in.
Better or worse than current? Is there a location you could live?
Ultimately, if your current job is going away, you really have to compare to the job you can find, not the job you have. It may not be realistic to compare against your current compensation, boss, etc.
Posted on 1/3/18 at 7:44 pm to LZ83
quote:
If you don’t take it, hopefully there is no consequences.
Not at all, the move is to be done by September and the president told me there will be a very nice retention bonus if I agree to stay through the transition as well as 6-9 months severance after that.
This post was edited on 1/3/18 at 7:47 pm
Posted on 1/3/18 at 7:45 pm to DoUrden
quote:
Currently I'm the controller along with IT and HR. They have an HR person and I am glad because I hate that shite.
Options seem to be:
Assistant controller (they are keeping the CFO and current controller) which puts other managers between me and the COO, my current boss.
A mixture of Accounting and full on site IT control.
Cost Accountant, hard pass.
I have gravitated to privately held companies because I always report to the owner or president.
I implemented the ERP we are going to use company wide, the company we are merging with is using Peachtree.
The president of my current company soon to be the COO has assured me whatever roll I choose I will be compensated.
OK,
Maybe I'm still missing something...
All these options seem to be "if you move" options.
What are the options if you decide not to move?
Does your current job in your current city continue to exist or does it go away? Assuming it goes away, do you have other opportunities lined up? How attractive are they, both financially and career path wise?
This post was edited on 1/3/18 at 7:47 pm
Posted on 1/3/18 at 7:45 pm to DoUrden
Me? Add a 0 to the end of my salary. I'm making enough to be comfortable.
Posted on 1/3/18 at 7:47 pm to Moots
quote:
What are the options of you decide not to move?
Find a new job, the company is moving.
Posted on 1/3/18 at 8:02 pm to DoUrden
quote:
Find a new job, the company is moving.
OK, I thought that was the case. So, you're really not comparing current job to new job option, because current job is going away.
So, I think you really need to focus on the if you don't take it and move, what do you do?
Are you ready to go job hunting in a city you really don't like to not have to move? Or, would you be willing to move to where you really want to be and go job hunting there?
The way I'm seeing, taking the offer and making the move offers more certainty than any of your other options.
Posted on 1/3/18 at 8:07 pm to Moots
quote:
So, I think you really need to focus on the if you don't take it and move, what do you do?
Are you ready to go job hunting in a city you really don't like to not have to move? Or, would you be willing to move to where you really want to be and go job hunting there?
The way I'm seeing, taking the offer and making the move offers more certainty than any of your other options.
Finding a new job here won't be much of an issue but would probably have to take a lateral move pay wise at first, and I don't want to live in either city, but I am here or close as long as my mom is around.
Financially I am not set for life, but certainly not hurting.
When my mom passes I will be headed to a beach local to live.
Posted on 1/3/18 at 9:55 pm to TigerintheNO
quote:
3 hours doesn't seem far
For the occasional trip no, but if the OP's mom starts having medical issues, needs frequent help, can't drive, etc will be a problem.
Just went through this with my parents who have needed more help the past couple years. We had them move to the ATL burbs earlier this year. They lived 2 hours north before and it was just a big pain to get up there on short notice and/or multiple times a week especially with ATL traffic.
OP if you move, would you be able to move your mom as well? If yes, then to me that's the ideal situation.
Also, is the company providing any assistance for relocating?
Even if things don't work out, you're in a bigger city which should mean more opportunities.
Posted on 1/3/18 at 11:21 pm to DoUrden
Maybe I'm an outlier, but I love moving. In the past 0 years, I've lived in different cities (3 states and 2 countries). I like the uncertainty, opportunities to learn and try new things, and potential to change things in my new location. Obviously, it is tough with a family (wife and 3 kids), so I don't know how much longer I can keep it up.
If I we're your boss, I would value those that moved. It shows a bit of loyalty, flexibility, and open mindedness... traits you can't coach up.
Biggest concern is the parents. How is your mother's health? If she is in good shape, then 3 hours isn't a big deal, and you can look at the move as temporary. Do it for 3 years to support the transition, develop a bit, and then move back (or move her to you) if things get worse.
If I we're your boss, I would value those that moved. It shows a bit of loyalty, flexibility, and open mindedness... traits you can't coach up.
Biggest concern is the parents. How is your mother's health? If she is in good shape, then 3 hours isn't a big deal, and you can look at the move as temporary. Do it for 3 years to support the transition, develop a bit, and then move back (or move her to you) if things get worse.
Posted on 1/4/18 at 1:01 pm to DoUrden
I don't know why you are factoring in your current pay as that is completely irrelevant as your current job is going away.
You need to apply elsewhere, maybe talk to a head hunter to see what your realistic options are. Your realistic pay to stay could be way more or way less then you are currently making.
You also need to compare things outside of pay, if you are hired elsewhere your company position could be much better or much worse then your new job will be. So again, comparing your current position is a moot point.
You need to apply elsewhere, maybe talk to a head hunter to see what your realistic options are. Your realistic pay to stay could be way more or way less then you are currently making.
You also need to compare things outside of pay, if you are hired elsewhere your company position could be much better or much worse then your new job will be. So again, comparing your current position is a moot point.
Posted on 1/4/18 at 1:27 pm to baldona
quote:
I don't know why you are factoring in your current pay as that is completely irrelevant as your current job is going away.
I have two or three options with the "new" company, my job isn't going away, the scope of it will change should I choose to make the move.
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