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Hi Taylor
- I've got two job offers on the table, and I'm leaning toward taking
the one that pays about $10,000 less. I'll save money on commuting
and I have more PTO with the smaller salaried position, but I'm
worried I'll regret not taking the extra money. Thoughts and advice?
- Kerry
Hi Kerry - I don't have all the details, but I appreciate
you weighing your opportunities and leaning toward the job that
might make you happiest. At the end of the day, you need to consider
all the variables and settle on the position that will have you
feeling good when you wake up in the morning.
If you're saving money on mileage, that could make a bigger difference
than you realize. Let's say you drive 10 miles less each day for
the lower-paying position. Using the $.53/mile deduction rate from
2017, that's over $5 a day in savings. That ends up being over $1,000
at the end of the year, and that's just for 10 round-trip miles.
It doesn't equal the full $10,000, but it's still a significant
amount.
You mentioned paid time off, which is a very big deal. Not only
do extra paid days equate to a bigger salary, but that directly
impacts your quality of life. You should be able to enjoy personal
and family time no matter where you work, so I wouldn't fault you
at all if you decided vacation days were more important than dollars
earned.
What you haven't mentioned is your own expenses. I want to make
sure you're thinking about short- and long-term goals before you
pick your next employer. As much as you need to be happy with your
position, you should think about what's going to make you happiest
in 5-10 years, and how that might influence your daily peace of
mind.
If you have a mortgage or student loan or credit card debt, does
it make more sense to increase your earnings so you can become financially
free more quickly? If the work you'll be doing is relatively similar
at either company, which one will provide stronger opportunity for
upward mobility while meeting your spending and saving needs?
Picking the job you'll enjoy most is the top priority, but sometimes
a higher salary can be the deciding factor. There are plenty of
things more important than money, but when it comes to your day
job, there's no shame in letting earnings dictate which job you
accept.
As long as your bills are covered and your retirement is getting
funded, I see nothing wrong with taking a job that pays less but
meets other needs of yours. As long as you're being realistic about
how much money you need, go with the job that will make you happiest.
Best of luck in the new position, Kerry!
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