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Not insane if you're driving a M3 and want to enjoy the car/drive.
Damn. Bain really lost a step if the mileage expense is really part of the value prop. #feelingbetteraboutpwc
Please ignore my spiteful colleague. Not worth it - yes, you do earn $1200 for another 20 hours of driving (translating to $60 per hour in additional pay), but those are 20 hours better spent connecting with friends, pursuing side interests, staying fit, or just relaxing - your finances in the long run will more than take care of themselves.
The 6 hour drive would result in an additional 1200-1300 dollars a month after taking fuel costs into consideration.
The car drives are nice to make phones calls, listen to audio books (can do anytime though), not have to worry about luggage rules, delays/cancellations, etc.
But 6 hour drive is pushing the limit. Extra money is wonderful if you have debt to pay down or whatever.
20 hours/month for. $15k raise? Sign me up.
PwC1: But if you have a lease and are under on miles, it really really does work out. I did the drive commute for about six weeks to get my lease within 1k of my allowed miles before turn-in
On a related note, which firms have the best mileage expense policies?
Haha wasn't being spiteful just joking
You have an extra 6 hours a week to sit in a car?
Would firms have different mileage reimbursement policies? I thought the reimbursement was set annual may by the IRS.
There's one other factor not mentioned by many commenters but in the OP--country driving vs. city. 400 miles over 6 hours screams country driving, which is a helluva lot nicer than 400 miles in the Acela corridor.
@the M3 post reference I am pretty sure you'd take a loss on the reimbursement when factoring in depreciation. I ran a similar analysis a while ago and I ended up netting something like $0.08 per mile after cost of fuel and lease payment. Would be different if you didn't have two worry about the car payment.
If you have a lease, it doesn't work out because of mileage limits. But I'll take the paper expense of depreciation on my car any day.
Yes.
Depends what type of car you have. If you have an older hybrid that a) doesn't cost a lot to driver (maintenance and fuel) and b) doesn't have a lot of value to depreciate then yeah it might make sense. But that's a lot of driving
You're also putting in at least 30,000+ miles on your car a year. That'll seriously age any nice car.
Id take that money.
This is insane, get the flight, spend the time with friends.
To put this in context, it's about equivalent to drive from DC to Boston on a regular basis. You have to really have the patience to do this. 1300 is a nice chunk of change. I imagine this might raise an eyebrow with your project team or accounting team?
6 hours each way or 3 hours each way? I'd do 3 hours easy. That's not long at all tbh