Job opportunity - but losing pension benefits - I'm three years into my career post-masters and have been incredibly happy in my job. I make $56,000 currently. I am 90% WFH and have great work-life balance. Job has a great reputation for treating employees very well, I have no reason to leave. My current job typically 'caps' at $65k unless you're willing to take on overnight on-call responsibilities (i'm generally not).
My wonderful supervisor recently left after nearly 15 years to take a state level job. A role directly under them is being posted, and it's come to my attention that this supervisor (strongly) wants me to apply (it's a very good fit for me, I would excel in this position and have extensive knowledge and experience in the specific role). I think I've built a great reputation, and I'm honestly very flattered in this situation.
That role is currently paying it's 4 employees in that position $74, $75, $76k, and one at $68k. I'm not sure what negotiations are like on the state level, but I'd expect/ask for at the very least 70-75k.
The job is mostly WFH (maybe 1x a week max. in office with 1hour each way commute), with potential for more travel/conference responsibilities (which is a con for me). Current commute is 15min 1x week.
My husband and I make decent money and are in a stable financial spot. We can pay our bills, own a home... However, an additional 20k would be incredible to invest a lot more/pay off my final bit of student loans, etc.
​
Pros:
\-Increase of 15-20k salary
\-significant increase in room for growth (responsibilities and income)
Cons:
\-leaving comfort and work-life balance
\-increase in commute (1hr each way, 1x per week max) and possible increase in travel to conferences etc. (I do not enjoy work travel).
\-lose pension at current position (it vests at 5 years, is not portable until that point, so I'd get a cash-out refund from my contributions of about $8k). Pension is 5% employee contribution, and calculated at: avg highest 5 year salary x .016 x years of service / 12 months.
\-leaving current job in a bind, that department would be honestly floundering without myself and my supervisor's specific contributions. I'm not trying to toot my horn, it's just the reality that it would leave them in a bind. I'd want/try to give as much notice as possible to help replace and train someone.Personal Finance
Job opportunity - but losing pension benefits - I'm three years into my career post-masters and have been incredibly happy in my job. I make $56,000 currently. I am 90% WFH and have great work-life balance. Job has a great reputation for treating employees very well, I have no reason to leave. My current job typically 'caps' at $65k unless you're willing to take on overnight on-call responsibilities (i'm generally not).
My wonderful supervisor recently left after nearly 15 years to take a state level job. A role directly under them is being posted, and it's come to my attention that this supervisor (strongly) wants me to apply (it's a very good fit for me, I would excel in this position and have extensive knowledge and experience in the specific role). I think I've built a great reputation, and I'm honestly very flattered in this situation.
That role is currently paying it's 4 employees in that position $74, $75, $76k, and one at $68k. I'm not sure what negotiations are like on the state level, but I'd expect/ask for at the very least 70-75k.
The job is mostly WFH (maybe 1x a week max. in office with 1hour each way commute), with potential for more travel/conference responsibilities (which is a con for me). Current commute is 15min 1x week.
My husband and I make decent money and are in a stable financial spot. We can pay our bills, own a home... However, an additional 20k would be incredible to invest a lot more/pay off my final bit of student loans, etc.
​
Pros:
\-Increase of 15-20k salary
\-significant increase in room for growth (responsibilities and income)
Cons:
\-leaving comfort and work-life balance
\-increase in commute (1hr each way, 1x per week max) and possible increase in travel to conferences etc. (I do not enjoy work travel).
\-lose pension at current position (it vests at 5 years, is not portable until that point, so I'd get a cash-out refund from my contributions of about $8k). Pension is 5% employee contribution, and calculated at: avg highest 5 year salary x .016 x years of service / 12 months.
\-leaving current job in a bind, that department would be honestly floundering without myself and my supervisor's specific contributions. I'm not trying to toot my horn, it's just the reality that it would leave them in a bind. I'd want/try to give as much notice as possible to help replace and train someone.
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
🔺 Student Loan Delinquencies Hit Record 12.9%... The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...