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A place for Get Rich Slowly readers to ask questions
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It is currently Sat Oct 25, 2014 3:19 am




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 Post subject: Money or happiness (short term)
PostPosted: Thu Oct 11, 2012 12:56 pm 

Joined: Tue Jun 03, 2008 8:30 pm
Posts: 158
This is not a question for advice, but rather a poll-ish question.

If I had a choice between a job with more money and being miserable, vs less money and being happy, of course I would choose the latter in the long-term.

What about the short term (1 year)? How much money would it take for you to stay in a job that you do not particularly like for a year rather than jumping to an adequately paying job that makes you happy immediately? Basically, how much would it take for you to sell out for a year? I'm sure this is different for everyone.

Assume no debt and appropriate savings, etc.


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 Post subject: Re: Money or happiness (short term)
PostPosted: Thu Oct 11, 2012 1:21 pm 

Joined: Mon Feb 04, 2008 7:35 am
Posts: 1148
Location: Maryland
As always, it depends on your goals. If it's definitely going to be only a year, and it's a stepping stone to more happiness/better job security, I'd suck it up and do it. If the year is tentative, and you are unsure about how it's going to provide you with what you're looking for, I would stay where you are. The devil you know is sometimes better than the devil you don't.


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 Post subject: Re: Money or happiness (short term)
PostPosted: Thu Oct 11, 2012 1:32 pm 

Joined: Tue Jun 03, 2008 8:30 pm
Posts: 158
Lets assume that you are already in the job that you do not like.


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 Post subject: Re: Money or happiness (short term)
PostPosted: Thu Oct 11, 2012 1:41 pm 

Joined: Fri May 04, 2007 8:14 pm
Posts: 1953
What's the potential/career path for either job? Sometimes it's not the job itself but the road it points you down that's important.


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 Post subject: Re: Money or happiness (short term)
PostPosted: Thu Oct 11, 2012 6:39 pm 

Joined: Sat Feb 12, 2011 5:47 pm
Posts: 90
Location: Ontario, Canada
It also depends on how sure you are that the job that would make you happy is going to be available in a year. So if you decide to take the crap high paying job because it's only for a year, could it actually turn out to be longer because you now can't find the happy job. It's a gamble.

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Kate


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 Post subject: Re: Money or happiness (short term)
PostPosted: Fri Oct 12, 2012 5:59 am 

Joined: Thu Jun 23, 2011 3:24 pm
Posts: 87
boorpoy wrote:
Assume no debt and appropriate savings, etc.


Then I'm going for happiness - what would the utility of the 'extra' money be if I'm already financially fit? Assume some debt (especially if could be paid off in the year of non-happiness) or inadequate savings and I might change my mind.


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 Post subject: Re: Money or happiness (short term)
PostPosted: Fri Oct 12, 2012 6:59 am 
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Joined: Wed Sep 23, 2009 9:01 am
Posts: 5398
I've been there. In the 90s I left a secure, cushy government job for one at a startup private company. We had 9 months to deliver a system that usually took 3-5 years to build. I was offered a leadership role and a incentive of almost 1 year salary if we met the delivery goal.

We did and I not only got a nice bonus, I eventually (after about 6 years) became a c-level executive after the company went public. That role was incredibly educational and great for me professionally. But I had no way to know that taking the job would lead to that. I was only realistically chasing the incentive.

Meeting out deadline took a huge effort and I literally worked 16-20 hours a day for 3 weeks straight at the end and at least 100 hours a week during the entire 9 months. It was not exactly miserable but it took its toll. But I think it was worth it in the end.

If I had to make the choice again I would probably do the same thing. But if I had to choose a miserable but high paying job for the long run over something I enjoyed more that paid less I think I would choose what I enjoy.


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 Post subject: Re: Money or happiness (short term)
PostPosted: Fri Oct 12, 2012 8:18 am 

Joined: Fri Oct 12, 2012 8:00 am
Posts: 6
Hi there,
beware with the short term plans, it could be easy to see from the outside, but if you really don't like what you are doing, it IS NOT really worth the extra money you will get.

In my opinion, I would stick with the happiness side, and find your way to success in another place. Remember, the only thing that blocks you from getting richer (in all aspects in life) is you, our mind could be a powerful device to make us live a difficult time.

My best advice is to seek for options, did you read Robert Kiyosaki's book "Rich Dad Poor Dad"??? I think it would be a good opportunity for you to read it now.

Regards!
Marce


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 Post subject: Re: Money or happiness (short term)
PostPosted: Fri Oct 12, 2012 8:41 am 
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Joined: Wed Sep 23, 2009 9:01 am
Posts: 5398
I was recently offered a job that would have been somewhat of a lateral transfer but more management, less technical because of the stage of the project. The pay would have been 80%-100% more than I make now BUT in Los Angeles. We are about 3 years from retirement so I'd commute meaning I'd need to pay for a weekly airline ticket and cheap apartment.

I know the last 2 people that held the job. They each lasted about 2 years so I figure I'd do the same and would be able to retire after that (at 50). Both the previous guys thought it was a good job but left for similar positions at other organizations so I have no reason to think the job itself sucked.

But after considering all the hassle, commuting, travel, etc. we decided it was not worth the extra money. Perhaps 10 years ago I would have jumped at it but not now. So I think things like this depend more on your future path than what you see over the short term.


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 Post subject: Re: Money or happiness (short term)
PostPosted: Fri Oct 12, 2012 2:52 pm 

Joined: Tue Mar 23, 2010 3:31 pm
Posts: 405
Id take the money regardless. Im never happy at any job I have ever had. I can tolerate some more than others, but in the end I find happiness outside of work.

Short of being harassed or treated badly/unfairly, Id take more money and perform a more miserable task. However, I seem to be one of those rare folk who immediately cease thinking about work the moment I leave my desk. I never dwell on arguments or mistakes at work. I see work as purely a means to an end. Each moment of agony is money in my pocket to do something worthwhile.

Only exception would be a long commute. To me, that isnt worth any amount of money. Long being more than an hour.


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 Post subject: Re: Money or happiness (short term)
PostPosted: Fri Oct 12, 2012 8:02 pm 

Joined: Tue Jun 12, 2012 4:34 pm
Posts: 532
boorpoy wrote:
Basically, how much would it take for you to sell out for a year?


2.3x my salary. That's what it took for me to sell out for a year. Well, 9 months in my case.

I took a 9-month term job within my organization in 2010. On my side, I agreed to work ridiculous hours (70 hours a week was the minimum, no full days off), move away from my family, live in a connex can with a roommate, stay confined to a tiny compound, eat really bad food, and potentially get shot at. Their end of the bargain was 2.3x the salary I was making at the time.

Why'd I do it. I had a lot of debt ($21k in cc debt), but that wasn't the primary motivator. I saw it as a path to promotion, and it paid off. After my term was over, I got a promotion with my organization. Came with a huge increase in salary and a move to Hawaii. (Hence, my screen name.)

It was absolutely worth it, but I won't do it again. Not for the reasons you'd think, though. The first time around, it was a path to promotion; now there are other things I need to do (trainings, projects, education, etc), things I need to concentrate on to get to the next level. Simply put, the opportunity costs from doing it the first time were worth it. I don't see the same level of worth in the opportunity costs if I were to do it again, at least, not at this juncture in my career.


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