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That’s a personal question - is the promotion + 15k + new team worth it for you to make the jump and consider the additional commute? Personally, I’m not a fan of any commute over 30 mins, but I’m fully aware that that’s considered lazy to some people. Are you a parent? Would the 15k help you out with child costs?
The tax evens out at the end of the year. You get money back from NY and would owe Jersey a few bucks here and there. I would not consider NY tax as a deterrent because it doesn’t really impact you unless you decide to move to NY, especially NYC where the killer is the local city tax.
Given the information here I would only take it if you think it would be a nice opportunity to help you step up to the next level and then move again to get paid more. Or if you really dislike your current team / really like the new company.
15K is too little for a promotion personally and will keep you at the low salary band on your new level until you jump again. Plus all the additional cost for taxes and commute are making it look like just a title change. And a higher title in a small company doesn’t really translate into a same title in a big company. Small companies might also have worse benefits but without more details we can’t really tell.
For somebody who is a “manager in finance” you’re sure sloppy with your explanation. The only thing clear is that you got a promotion, what is your compensation now to add to that the extra 15k and it’s that the total compensation package or is there some aid given for transportation etc. and how are you planning to commute? Plane? Car? Bus? Let’s circle back once you get it together and explain accordingly so we can give you an informed suggestion/advice.
Trolling like this is Redditt gotta love it.
Personally, I wouldn't take on that kind of commuting responsibility for only $15K more a year. After taxes, there's not much left over to compensate for the commuting cost or the loss of time spent on the road.
Don’t hate my current position but politics at a larger company are terrible and it takes a little more than I’d like to get promoted. I think if I can negotiate a larger pay or potentially 1 day in the office it might be worth it
Definitely ask for more to compensate the tax and commute. I think you can tell them honestly that 15K is like keeping you flat for a promotion and it just doesn’t make sense.
Your time is valuable-make sure you are willing to do the long commute.
There is no NYC personal income tax unless you are a resident of NYC. Assuming your new employer assigns you to NY office, 100% of your wages will be subject to NYS tax under the convenience of the employer rule. Don't know how much you make but assume it's ~100k- 150k...then that 15k raise is around 9k after tax.
Yes this is around the numbers I crunched too. Doesn’t make sense IMO
Depending on your bracket, you could actually save money with the taxes (not an accountant, but just a quick google).
You won't save in taxes by working in NY.
I can only put it this way. I live in central Jersey and commute to the city 3x a week for work. I would probably take a 15k pay cut to not ever have to go to the city.
Ah that makes sense. The NJ trains are shit. I’m debating on whether or not it’s doable if im close to the bus station and it should take about an hour to get in assuming no traffic. I already sit in a lot of traffic going to north Bergen
$15K is absolutely not enough of a pay raise to commute into NYC 2x week IMO. It needs to be at least $25-$30K increase. Ultimately its a personal decision. Assess how much will it progress your career in the long run.
50k minimum to consider for a job change I’d say. 15k increase is too small, after taxes you might be looking at 10k(which is $400 more per paycheck), I would never make a change for that little unless the opportunity is so good that’ll dramatically increase your future earning ability.
NYC tax is around 2%. Add to it the old toll, the new toll, parking, etc.
Did you get confirmation on the in office requirement? Is it subject to change? Do you have any room to negotiate for more on the pay raise?
Thanks that is a very good point
I hate dealing with commuting and traffic. so my opinion is probably biased. A one-day commute would be ok but I would have to reconsider anything more than that. The 1.5-hour commute would get old quickly. I once joined a bowling league with a couple of co-workers a while back. Our league schedule had us meet every Monday for about 8 weeks. I was tired of it after 3. If you're going to be dealing with Airport security and boarding every week, I think it would also get old quickly. You may want to weigh out the cost/benefit of the raise after taxes, expenses, and the burden of travel versus the potential future upside value of the job experience, to make it worth it.
I travel into NYC every week a few times a week from the PA border. I go into Newark and hop on the path. The days are long but no complaints. If you feel it will give you more exposure go for it.
It’s a personal decision on pay alone. Don’t look for the next year but for what opportunities it may open up down the line for you. If you’re making decent money now and commute is less you have to weigh it all.