Post # 1
First off, I miss the poll option.
I am going to be graduating from college in May. As of right now I have my choice between two jobs.
Job 1 – pays $34K/year. Is in my hometown. 5 minute commute, flexible hours, I would like the job and have a lot of autonomy.
Job 2 – pays $45K/year. Is a 1 hour drive away, strict hours, and a lot of responsbility. While I’m not avoiding responsibility at all and am fine with taking on a lot – working 10 hour days with an hour commute each way makes for long times.
Other factors to consider: I have kids (ages 5 and 14), I would not want to move towards the higher paying job – I’m underwater with my mortgage. My FI works retail, has some flexible hours, but doesn’t make a ton of money either. I’d be spending about $75 in gas a week (so almost $4,000 a year).
I tend to want to pick the lower paying job, and keep on the lookout for something else. I just think a job you really really enjoy that they are flexible and you can kinda do your own thing is better in the end. Am I an idiot for not taking the higher paying job?
Post # 2
How would each job affect your childcare costs? That can easily add up if you’re gone 12 hours (10 hour days plus 2 hour commuting)
Post # 3
That is really, really tough. Financially, it makes most sense to let your SO take over a lot of the childcare so you can get an 11,000$ raise. A 30% raise is a big thing. And a job with more responsbility will look better on your resume and be a stepping stone to even better things. 2 years from now, you can look for an even higher paying job. If your FI doesn’t have any upcoming job prospects, this is how your mortage is going to get paid now and in the future.
But that sounds completely emotionally draining and incredibly stressful. If you’re home more often, you have more time with your children, more time with your SO, more time to cut costs in other areas of your life, more time to pick up odd jobs here and there. Good luck to you. Either way you choose, you have a job straight after graduation and that is a big accomplishment.
Post # 4
habibti: I’m not sure if I did my math right, but from what I calculated it would take 4 days of the week to pay off the amount you spent in gas money… leaving only one days worth of work extra that you’d earn. You might want to calculate your expenses out that way, but to me it seems like the closer to home job might be the best option for now, and you can keep looking.
Post # 5
Job 1. I’m not sure 11k is worth the cons that come with Job 2. I feel like the characteristics of Job 1 would lead to a happier you, if that makes sense.
Post # 6
I can’t offer advice, but I wanted to offer a huge congrats for getting 2 job offers out of college. The market is awful, that is an awesome achievement in and of itself!
Post # 7
habibti: the difference between job 1 and 2: $11,000 before taxes. Not knowing where you live I can’t say how much would taken out in taxes. In my heavily taxed state it would drop that number to about $9k or under! Let’s say it’s 10k after taxes, just estimating. Now subtract the $4k in added gas, you’re at $6k. (Don’t forget you’ll also be looking at extra oil changes and potentially other maintenance too.) Divide that by 52 weeks a year and you’re better off by about $115 dollars a week. Now you’ll be driving an extra 2 hours a day, so that’s 10 extra hours weekly, plus if I’m reading correct it sounds like job 1 is prbly 40 hrs/wk while job 2 is 50 hrs/wk, so plus commute it’s an extra 20 hours per week you’re committed. So divide the extra money, $115, by the extra hours, 20, and your extra hours are worth about $5.75 each. You decide if that’s worth it!
Another way of looking at, ignoring taxes, is Job 1: 34k at 40 hrs/wk 52 wks/yr is: $16.34 per hour
Job 2: 45k – 4k in gas at 60 total committed hrs/wk 52 wks/yr is: $13.14 per hour
Again, you decide! You would get about ~6k extra a year, but you will be at work/commuting an extra ~1040 hours a year.
(Side note too: if the 45k vs the 34k would put you in a higher tax bracket, then I’ll tell you it’s def not worth it)
Post # 8
What about the benefits packages? Growth potential? Career satisfaction? How important is it to you to be closer to home so you can easily take care of any needs that arise with your children? Plus being home more to be with them in general? There is a lot more that goes into deciding which job to take aside from just the number. Your happiness in your daily life means a lot more than the bottom line which shrinks significantly when you take into consideration commuting times.
Post # 9
I agree with the last poster, especially on the money issue. I don’t think it will be worth it. It sounds las if you already like the first job more. You can always keep looking while gaining experience and move into something where you earn more. I sure hope I have this dilemma one of these days, though.
I would take the first job. You have 2 kids, therefore, you must consider your work life balance. I have always had to travel way too far for jobs and I hated it so much. I hope and pray that in the near future I will not have to commute too far. Also, you are within walking distance to work if it is only 5 minutes away, that means even car repairs would not interfere with work! The second job sounds like a real pain. I know myself, and I would start to hate the commute and extra responsibility. It will begin to feel like it is not worth the headache. Good luck either way.
Post # 10
Thanks so much for all your suggestions – I do think that job 1 is the way to go and the one I would be most happy with – I just hear things like “don’t sell yourself short” and “you don’t realize how hard it will be making that little money” and the other job will be better for future earning potential etc. I know I am lucky to have these opportunities, I dont want to throw away a great opportunity – but it would be difficult financially to sell my house (I’d probably lose $10-$15K) and move to another city for a job I wasn’t sure I was going to like.