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I am currently pursuing a position to be a 401k workplace planning consultant with Fidelity Investments. I would like to connect with someone who has gone through that training and early hiring process to make sure I have a solid understanding of the position. This is specifically for the Raleigh/Durham NC area if possible.
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Theres no way im uprooting my life for a $24k. $50k plus growth opportunities and a sign on bonus MAYBE.
Yes I agree, especially since taxes would eat up 20%+ of that. I think I’ll shoot for a $50k increase but if they say no I’ll just refuse the offer
Key questions for me in this situation: does the new position offer more possibilities that I won't have at the current gig?
Am I ok with hybrid?
For me it would be too much of a uprooting etc for 24k. My SO just switched for a new job and pay stays the same but it's does something he loves more than the current job so it's OK.
For a moment they wanted him to move but that's our non negotiable, esp for the non pay increase
I'd explore these internal options and you could always use the offer to get a raise.
Also I'd clear what hybrid really means for the company? Especially with two young kids you have to think about care options during that time as well.
If the offer was higher I'd give it serious thought but if you think you have similar options and calculate the costs and time not spend with fam it might not add lot
Pro
What percentage increase on your current salary is 24K?
It would be a 13% increase on my current salary
I ask similar questions of myself. Whose goals are you trying to fulfill. Yours, or someone else’s? Is it an opportunity to stretch your wings and grow your skill set? I have a 2.125 mortgage and I would have to buy so much less home if I moved. The real question is what is best for you and your family.
Personally I would never make a decision soley based on the gross salary increase. Compare all financial factors, as you have started to, and nonfinancial factors.
? What is the cost of living in new location, can you afford to pay mortgage and new mortgage/rent while waiting for house to sell (alternatively could you rent your house).
? How much more will commuting add to expenses in new location? How much time is it likely to add to your work day? Also any additional expenses for changing to in office (meals, clothes ect)
? How do other benefits compare?
You used the word sacrifice so I feel like remote is a pretty big upside for you and likely something you would really miss.
Pro
I guess it depends on significant of a bump 24k is for you because it sounds like significant change to your WLB. Could you position yourself for a raise in your current role?
$24K is not nearly enough.
Think about what you would being home after taxes. Then how much your cost would go up in gas, car maintenance, ext. I don’t think it would be a significant amount.
Yes after taxes it would probably be only an extra $1.5k a month which could be used for daycare or savings
I wouldn't relocate for 24k. Hybrid not a big deal; I am bybrid now.
Yeah sure if “hybrid” is an average of 3 days a month and my commute is less than 10 minutes.
No way. Not enough for the chaos it would create. You can get that without relocating. It’s just one offer. Go find more. Your new mortgage rate and commuting would eat a ton of that after tax money which is most likely only 14k. Be a shark not a sheep. Good luck
Hold onto that 3% interest rate with your house.
$24K is pretty significant.
Not to sell home and relocate.