I’m currently making 60k in industry in a LCoL area and was offered 120k to move across country for a new role. Would I be crazy to turn that down to be closer to the people I love (fam/friends)?

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No, not at all. At the end of the day your happiness is all that matters, this is only a job.

likeuplifting

No. You should optimize your life around what matters to you. That being said, worth considering whether taking that role for a couple of years, then leveraging it to improve your salary somewhere closer to home, is worth it. It might not be, and that’s ok, but just another alternative to think about.

likesmart

Are you single? Do it now, push yourself outside of your comfort zone because you won’t get the opportunity to do so if you ever plan on getting married, having kids, etc it’ll be harder to do this because you’ll have other variables to consider.

Also, the minimum you’d have to stay there is 1-2 years and I’m sure your friends and family can visit and you can visit frequently. And lastly I’d make sure that the job opportunities are good in the city you move it in case you do need to jump ship or stay there longer, you can move onto something else.

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I’d say yes. You will make friends, and still hang out with old friends.
Your friends may also move out of the current city when they get new opportunities so don’t feel tied down by this.
If you find this move making you unhappy, move back in a year or so.

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If expenses dont double, you need to take that job for 1-2 years and now if you want to return you have a $120k negotiating price point

likesmart

I’d suggest that you take the job, and reassess in a couple of years. It will be worth it for your whole life, and it will be relatively low risk. I do believe that moving out of your town / area where you grew up and live independently somewhere else is an experience that makes you grow quite a bit (assuming you always worked in your area). Also you will always be able to go back if the faraway town does not work for you, thanks to the network of family and friends. On the other hand, an offer that doubles your salary is very rare.

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My question is if it doubles the salary but doubles the expenses - is it still worth it? There should still be money left over but it's not $60k, maybe it will end up being $10-15k.

Honestly, yes.

No

All depends on what you value

Where’s the new city?

Ditto.

Early in my career, my employer transferred me from South Carolina, where I was living comfortably on $40k, to DC with a new salary of $72k. My standard of living noticeably went down. It wasn't until 1.5 years later when I got a roommate and a raise that I got back to my previous standard of living. The gap has gotten substantially worse in the years since, I think the equivalent for me of $40k in SC is probably closer to $80-85k here now.

Definitely run the numbers for the potential new location through a cost of living calculator. While $120k gives you bargaining power if you decide to look elsewhere down the road, it could potentially result in less net income than what you have now, depending on the cost of living in the new location.

On top of that, I've since turned down multiple fairly lucrative job offers that would relocate my family to the west coast, away from all my friends and quite far away from any of my extended family members. Money aside, I personally view family and friends as a very strong reason to stay in a location.

Nope - money isn't everything. And as you mentioned you are in a lcol area (where I am, $60k is good money, once you hit $85, you are close to highest earners).

Life is short - the people in your life matters more than money.

I left my hometown (couldn't even find an entry level job) and just moved back when I joined consulting. 12 years. My life would have taken a different path sure but could have been just as good or better. I wouldn't make as much money probably but all I am doing now is saving it so I can retire asap.

Passing can be scary, but you never know what the next opportunity is around the corner.

I’ve moved all over the country for better jobs. It’s lonely. You don’t make friends like you do where you grow up. It’s been a lot move lonely then if I had stayed home. On the other hand if I did I’m sure I’d be stuck in a shitty job. So, no clear answer here.

Go. Maximize your earnings potential. Then settle where u want to be.

If u are happy at where u are then don’t. But see long term... will ur family and friends do the same or will they chase their dreams in future and move out. Then u will be stuck alone in ur town

Glad to hear you’re doing well. If you feel like that place / scenario is keeping you feeling good, maybe staying put is the right move for you.

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Use that offer to negotiate higher salary with current company

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