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To the broader question: your kids are only young once. If you’re only doing it for the money, don’t do it. You have to really think the value of challenging yourself and doing interesting work will be worth it.
You describe your industry job as a “bit boring”; if you’re still doing that job in 15 or 20 years would you be happy?
The great thing about jobs is that if you aren’t satisfied with them then you can find something new.
Get the money AND insist on being with your kid. No need to forfeit money advancement on the table. Also your kid grows up once. It’s time to change the world’s view. You should be able to have both.
Chief
In the US firm, we have not laid off a single person. Not one.
P1 isn’t lying - I’ve been an T3 forever now and expected a T4 based off what’s going on but still got my usual. Siding on him/her with this one.
Parent of a 4 year old and 8 month old. Please don't trade those moments with your children. They're your legacy, not what you do as a cog in the wheel of a large firm. These early years just fly and before you know it, they're about to start school and your real time at home with them is forever altered.
I switched to a less demanding industry job for 5-6 years while my kids were small and then came back to diligence work once they all got into school for exactly this reason.
I would say if you are doing it for the need of the money then absolutely you should do it. You have no choice. BUT if not just for the money, weigh that differently. I work my job not just for the money, which makes me stay for other reasons - if those reasons changed I would leave my job.
Enthusiast
You won’t have to travel until the pandemic ends. In terms of pay... it’s good here. We do counsel out the bottom 10-20% of the SA cohort at the end of each FY, so be warned.
Hours here can vary, but be prepared to work 70+ hours a week during bad projects - please ask yourself if that’s a trade off you’re willing to make.
Yes, I am aware of this but appreciate the reminder. The hours was never a problem but you are right. My situation has changed and will need to think about it.
Salary is: 168+30
Its always challenging to balance career and family with a demanding job, and some very good advice has already been shared. My only suggestion would be to check with your wife if she is on board with you probably spending less time with the baby at times (during those crazy mad projects) and pick up probably more of the child care responsibility and household responsibilities? The only reason I ask is burn out is real. If you will be putting in 70+ odd hours, you need some self care and time for yourself as well, along with time to support household and raise a child. Money is undoubtedly important, and some consulting projects do provide adrenaline rush, however its a fine balance and boundaries that need to be established. I don't know which industry you are in, but there are many roles in industry which give that adrenaline kick like launch projects etc... Have you looked at moving to different role/organization in industry?
Or husband?
What does your spouse think? If you are out of town Monday through Friday do they have other family support?
Honestly, it’s typical for babies to sleep from 7am - 7pm (with lots of breaks haha) so it’s hard for any working parent to get a ton of time with their kid during the work week. I would just make sure your spouse feels supported and that you are a super parent/spouse on the weekend. If its long weekdays as well as weekend work, then no way.
Weekdays I take the overnight shift and early morning shift so not a ton of milestone time but weekends I have my toddler attached to me 24/7 and that feels good for me.
If there's one thing I've learned from COVID it's that as much as my kids drive me up a wall, there's a very real silver lining to me in being able to spend so much time with them and with them during WFH. This is coming from someone in the heart of the NY/NJ Metro Area and on some form of lockdown or another since March 13. So much so that I have anxiety about the end of WFH and the expectation that I'll not be home until after bedtime.
If you don’t need the extra money, I will stay where you’re at.
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How much more money are we talking? 10k/yr? 50k/yr?
Overall, I'd say jump and do it for 2-3 years. I don't anticipate client travel until next summer. I am not a parent, but missing age 0-2 might not be as bad as missing, say, 7-9, ages when they have events and such and actively miss you.
And the money could be important, if it is enough. Go look up the cost of college. Compare that to the pay raise from S&. If you invest the difference between S& and what you make now, could you pay for college more easily later?
Hey what industry/team is your offer with? Might be able to provide better advice.
Thanks to everyone for their comments and thoughts. It helps to have unbiased opinions even though it’s a very personal decision.
My wife and I have talked about it, a lot. So much so that now, we are just gonna let it rest for a couple days and come back to it with our minds clear.
One thing that both of us agree on is that once I start work, I am all in and will most likely be unavailable during the week. Also, with respect to COVID, we are risk averse and have no family help here. We are not having any nannies come home either. I have seen how hard it is currently, so no doubt it will be ten times tougher. I am also on a H1b and so that carries its own inherent risk.
W.R.T money, there won’t be a huge difference between pay and it won’t matter much over the next 5 years. However, if I continue to perform well, the upside is huge and so is the opportunity for growth.
Once again, I appreciate everyone’s comments.
Is your wife planning on being a stay at home mom? Or is she going to attempt to work from home with the baby?