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A place for Get Rich Slowly readers to ask questions
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It is currently Mon Jul 28, 2014 7:27 am




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 Post subject: Need advice on job offers!
PostPosted: Mon Aug 13, 2012 8:47 am 

Joined: Fri Jul 27, 2012 8:28 am
Posts: 88
So, here is my situation. I've worked for a major financial firm for 9 years in various administrative roles - all the way up to assistant to one of the C-level executives. However, because I was hired originally part-time, and promoted during a salary freeze in 2008 to full-time, my pay is roughly half of what other people holding the same job titles are. I can't really use that info to make a case for a raise, though, because I got it when a document was accidently fowarded to me instead of HR.

I have two really good job options right now, but I need to pick one ( I almost feel guilty about it in this economy).

Option 1) Continue working as an executive assistant but at a nearby global bank headquarters making roughly twice my current salary with equivalent benefits and commute, BUT absolutely no room for growth. I'd be doing the same job for the next 30+ years. I should also mention that I'm not particularly fond of being an assistant, although I'm good at it. This option is at a salary about 25k higher than option 2.

Option 2) Continue working at the same company, but taking a job in the accounting department, which actually uses my education and which I'm actually interested in. BUT, only making about 2k more per year than I currently do. However, they have offered to pay in full (tuition and fees) for me to get my MBA at the school of my choice. There is also a great deal of room for growth in this department as all of the top staff have worked their way up, AND I'd get to keep my traditional pension which I am fully vested in.

I am totally torn - obviously I have to decide here but wondering if anyone has any advice or maybe sees something I'm missing.


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 Post subject: Re: Need advice on job offers!
PostPosted: Mon Aug 13, 2012 8:52 am 

Joined: Thu Apr 05, 2007 3:05 pm
Posts: 1321
I would go for option 2, no hesitation. For one, you'll be happier and use skills that you want to use. That's more important than doubling or even tripling your salary. And the opportunity for growth vs. stagnation makes this a no-brainer as far as I'm concerned.


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 Post subject: Re: Need advice on job offers!
PostPosted: Mon Aug 13, 2012 8:55 am 

Joined: Fri Jul 27, 2012 8:28 am
Posts: 88
That's how I feel too - but I feel horrible turning down the money when we are clawing our way out of debt. I guess I just need validation that I'm not just being selfish getting to have a job I don't dislike.


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 Post subject: Re: Need advice on job offers!
PostPosted: Mon Aug 13, 2012 9:40 am 

Joined: Thu Apr 05, 2007 3:05 pm
Posts: 1321
We all have competing priorities; debt reduction and getting your finances in order are just one piece of the puzzle and you have to decide how important they are relative to everything else.

I rarely let money considerations rule my decisions, but they of course are factored into the equation. But in this case, what's the point in being out of debt and wealthier if you're going to be unhappy and unable to reach your professional potential?


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 Post subject: Re: Need advice on job offers!
PostPosted: Mon Aug 13, 2012 9:45 am 

Joined: Mon Nov 01, 2010 5:15 pm
Posts: 1120
Option 2 sounds best.

I also left a job with a traditional pension just like yours. It was difficult to leave that behind but once I realized they were slicing a few dollars every month off of the projected payout on the sly without any reasoning or justification, I figured it might not even be there in 30 years. I wasn't going to stay in a semi dead end job just to get shafted in the future.


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 Post subject: Re: Need advice on job offers!
PostPosted: Mon Aug 13, 2012 1:07 pm 

Joined: Wed Oct 07, 2009 4:16 pm
Posts: 959
Definitely Option 2, they pay full tuition.

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Be what you want to attract.


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 Post subject: Re: Need advice on job offers!
PostPosted: Mon Aug 13, 2012 1:33 pm 

Joined: Tue Jun 12, 2012 4:34 pm
Posts: 471
It seems like option 2 is really the one you want (at least, that's how I'm interpreting your posts). Also, with the room for growth, the option to keep your pension and the fully-funded MBA, it's really not a bad financial decision - even when compared with the large salary increase that comes with option 1.

FWIW, about 7 years ago, I was faced with a similar decision and chose what was the equivalent of your option 2. Not only have I not regretted it, but I make more money now - and am in a more satisfying career - than I would be had I gone with the equivalent of your option 1. (Of course, YMMV.)


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 Post subject: Re: Need advice on job offers!
PostPosted: Mon Aug 13, 2012 2:52 pm 

Joined: Fri Jul 27, 2012 8:28 am
Posts: 88
Thanks everybody. I think I'm going to go ahead and take option 2 - it's what I really wanted but I just didn't feel validated in turning down that much money.

However, I think I will see if I can get more money. I am thinking if I ask for just a little bit more, I might just get it, especially if I tell them I have a competing job offer. They do seem pretty set on me - so hopefully I won't be shooting myself in the foot.


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 Post subject: Re: Need advice on job offers!
PostPosted: Mon Aug 13, 2012 3:14 pm 

Joined: Tue Jun 12, 2012 4:34 pm
Posts: 471
Ms Kitty Cliche wrote:
However, I think I will see if I can get more money. I am thinking if I ask for just a little bit more, I might just get it, especially if I tell them I have a competing job offer. They do seem pretty set on me - so hopefully I won't be shooting myself in the foot.


Really good idea here. Make sure you research what people in similar positions in your geographic location are making (http://www.salary.com or similar websites can help with that). Also, there are a lot of great articles on the web on how to negotiate salary - and even a bunch with specific tips for women.

Good luck!


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 Post subject: Re: Need advice on job offers!
PostPosted: Tue Aug 14, 2012 8:06 am 
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Joined: Thu May 17, 2012 10:05 am
Posts: 960
I agree with Alohabear might be a good idea to look up what people in similar positions in your area are making. I would wonder if trying to negotiate a higher salary would be worth it? Sure you don't want to tick anyone off but valuing yourself is important as well. 2k doesn't seem like much. Maybe ask for 5 or 6k? Worst they could say is no. I agree having the opportunity for paid higher education would be worth it. Option 2 will likely be the better decision in the long run. ;)


Also see this article for tips on salary negotiation: http://www.washingtonpost.com/wp-srv/jobs/how-to/negotiate_salary_guidance.html

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 Post subject: Re: Need advice on job offers!
PostPosted: Wed Aug 15, 2012 10:21 am 

Joined: Fri Jul 27, 2012 8:28 am
Posts: 88
Thanks everyone for the advice!

Just wanted to let you know how it turned out.

I went back, and using data from salary.com and payscale.com, as well as my competing job offer, and asked if they could do better than they had offered. I know it's against all advice, but I didn't mention a specific amount. I just presented the info and said that I really wanted the job but that the pay scales were so different I was having a hard time committing.

They came back with an extra 9000! I was only going to ask for 2 or 3000 more, so that was phenominal. I've never actually negotiated for higher pay before, and I'm so glad I did.

Thanks again!


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 Post subject: Re: Need advice on job offers!
PostPosted: Wed Aug 15, 2012 12:20 pm 

Joined: Wed Oct 07, 2009 4:16 pm
Posts: 959
Ms Kitty Cliche wrote:
Thanks everyone for the advice!

Just wanted to let you know how it turned out.

I went back, and using data from salary.com and payscale.com, as well as my competing job offer, and asked if they could do better than they had offered. I know it's against all advice, but I didn't mention a specific amount. I just presented the info and said that I really wanted the job but that the pay scales were so different I was having a hard time committing.

They came back with an extra 9000! I was only going to ask for 2 or 3000 more, so that was phenominal. I've never actually negotiated for higher pay before, and I'm so glad I did.

Thanks again!


Congrats!

_________________
Be what you want to attract.


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 Post subject: Re: Need advice on job offers!
PostPosted: Wed Aug 15, 2012 12:37 pm 

Joined: Thu Apr 05, 2007 3:05 pm
Posts: 1321
That's fantastic, congrats, and it's a good illustration of one of the most significant benefits of staying with a company for a while: the longer you're there, the more indispensable you become (as long as you're making the effort to do a great job), and thus the more they're willing to do what it takes to keep you from jumping ship.

Several times in my career I've gone into a job with a long-term vision that I knew wouldn't be approved if I proposed it at the outset, but if I was patient enough to wait four or five years I figured it might fly. For example, I wanted to work at home, but that would require a big commitment of trust from my employer, so I waited until they could get to know and trust me, and I wanted to prove my worth to them by doing a great job. After three years or so, I popped the question: "Can I work at home?" Answer, "well, yes, I don't see why not." Me: "can home be anywhere?" Answer, "Anywhere within reason." We negotiated and I ended up moving to Vermont (my employer was in Boston) and it all worked out great.


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 Post subject: Re: Need advice on job offers!
PostPosted: Wed Aug 15, 2012 1:24 pm 

Joined: Tue Jun 12, 2012 4:34 pm
Posts: 471
That's wonderful! Congratulations!


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 Post subject: Re: Need advice on job offers!
PostPosted: Wed Aug 15, 2012 3:50 pm 

Joined: Mon Feb 04, 2008 7:35 am
Posts: 1148
Location: Maryland
Woohoo!! Congratulations!
What a big increase. You deserve it. :)


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