How important is money?

[Dr.Brian]

As you are aware, your situation is a complex one because of all the moving parts and uncertainty. I don’t think I would leave a great job that pays well to take one for the same work for less money unless there was a compelling reason to do so. Things like children move to that city long term, I can buy my retirement home there while still working, conflict with superiors that is likely to threaten my future, or a major lifestyle change, better path to retirement, etc.
It seems like you’re in a good position as your department was axed and you’re the last man standing. If they didn’t want you, you’d be gone as well. It sounds like you’re at a market leader, and that’s pretty valuable. If not, can you move to a market leader instead of a relative start up? I don’t think I would move to a smaller riskier job without some kind of profit sharing, ownership stake, higher income, etc. Can they realistically move up into the big leagues?
You had issues with the old President, but they now have a new President, so those issues probably won’t be any worse with a new chief.
The money issue is real. Unless you think the old job was significantly overpaying you for your work, the idea of taking a 1/3 pay cut would be a deal breaker for me. I would try to negotiate that up. My wife was recruited to a new company a few years ago and unknown to them she was unhappy at the other company. She wanted to get out of sales and all of the headaches and “emergencies” that she didn’t cause, but had to fix. The new job wasn’t sales based, so she spun that angle to negotiate a much higher base salary than they initially offered. She makes less overall (maybe 20%), but is 1000% happier in her new job, and she is out of the sales management role that she was done with anyway. If you’re really serious about the job and not just spitballing some options, do formal interviews, and negotiate hard for a better package.
If everything stayed the same, and you went back to work in 2 months, in the same role, at the same pay, would you want to stay?
Does your career have a better trajectory at the new company, or more of the same at a different HQ?
Do you want your old bosses job?
Good luck.


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[AzPaul]

. . . . the unofficial word is I will be brought back, and (possibly/probably) be promoted to my old boss’s job. I am not rich by any stretch of the imagination but this job paid pretty well.

My old boss has been encouraging me to quit and join him. I would enjoy the opportunity to work for him again. Here’s the thing. The salary range is a LOT less then what I was making at my company. It is more then one third (1/3) less, not too far away from half!

So here's the wheat of your situation, seperated from the chaff.
The question is one of patience. Are you willing to wait for the opportunity to take over your old boss' position, or not.

Personally, I would wait. So long as you're not starving, think the angst will be worth it. That way you'll have no regrets if the opportunity you really want was to open up and you weren't in a position to accept it.

[Dsmith1974]

Take the best package you can get.


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[Tri-Tip]

Originally Posted by m j b

Sometimes we need a push.

I would definitely ask my current (???) boss at the current job when they intend to bring me back. If I get anything less than a "oh hey, I was about to call you, how about tomorrow?" then I'd give them an ultimatum, and move on as needed.

But that's me. At this point in my life, I value job stability over money.

Agree 100%

[Rashid.bk]

Originally Posted by FTX I

I get where you're coming from my friend but I respectfully disagree. Happiness is a state of mind and has nothing to do with money or material things IMHO. Of course money is great to provide comfort to ourselves and our families, it's great to enjoy what life has to offer like travelling, living in a beautiful place, driving a nice vehicle and even having a nice watch on the wrist, but happiness comes from mental health and self-esteem IMO and not material things. The acknowledgment of who we really are, our values in life and what we do for others. Only then we can be trully happy with ourselves an any circumstance, be it in a lower social position or loaded with money. Money is great but mental health is priceless IMHO.

Wishing you good luck, Paul.

It’s okay to disagree, but half your post relates to what money provides. Even mental health can come from money, how, piece of mind, no worries about bills, family is safe. I’m not saying you need Jeff Bezos money but you’re not going to have a fulfilling life and offer your children the best opportunities if you earn $450 a week.
Heck, Paul’s dilemma doesn’t just revolve around the fact he wants to labor, money is involved, his mind wouldn’t be filled with such uncertainty ie affecting his mental health(worrying) if he had as he clearly stated, a paycheck.
Money buys happiness and piece of mind in my book. It’s the one thing I’ve never heard a person say no to.

[Fleetlord]

Money and health run neck and neck…and increasingly so it’s very difficult to have health without wealth, so as long as the acquisition of the money itself doesn’t negatively contribute to health (stress, time,physical toll) get all that you can…too much is never enough.

[FTX I]

Originally Posted by Rashid.bk

It’s okay to disagree, but half your post relates to what money provides. Even mental health can come from money, how, piece of mind, no worries about bills, family is safe. I’m not saying you need Jeff Bezos money but you’re not going to have a fulfilling life and offer your children the best opportunities if you earn $450 a week.
Heck, Paul’s dilemma doesn’t just revolve around the fact he wants to labor, money is involved, his mind wouldn’t be filled with such uncertainty ie affecting his mental health(worrying) if he had as he clearly stated, a paycheck.
Money buys happiness and piece of mind in my book. It’s the one thing I’ve never heard a person say no to.

Well put and once again I get what you're saying Rashid. All I'm trying to say is that if money brought happiness in itself, once you had money, ipso facto you'd be happy and that's not what happens in real life at all. Money is an instrument. Of course it is. But it's the person and what he/she does with his resources that will bring a state of mental happiness or not IMO. People tend to think that someone with less means would be less happy, but like I said on my previous post I don't believe that at all for the reasons stated above.

[Dr.Brian]

I thought of another factor in the math to contemplate.
How much do you really need that extra 1/3 of your income to meet your long term goals?
If you have a solid retirement account and you’ve got your nice townhouse, where maybe you want to stay long term, that extra 1/3 is less valuable to you than if you still are making up ground to get to where you want/need to be to retire.
Though maybe you don’t want to retire and can see yourself doing that job into your 70’s? I don’t see myself working past 60 and I’m fine taking some lifestyle hit to retire early.

[TheVTCGuy]

Than you everyone for the nice comments, much to think about.


And Don, I’m shipping my stuff out today.

[GradyPhilpott]

I don't know much about money, but I think I would do what I could to keep an ample cash flow, while continuing to look for a better opportunity.

You might have to tighten the belt a little, but you won't founder and when something else comes along, and it almost assuredly will, negotiate with the boss and if he's not in the mood, move on.

The worst catastrophes to befall me, and brother, I've had more than a few, have lead to the most promising opportunities. It sounds cliche, but it's the truth. Every cloud does have a silver lining, if you have the wherewithal to recognize it and take action.

[Star Ferry]

Originally Posted by Rashid.bk

On an island by yourself, means nothing.
In society with family, kids, health stability and desire for Rolex ss, means everything.
Money does buy happiness contrary to cliche sayings.

Tend to agree. There are folks who manage to be happy without money, and the tradeoffs involved in making more money are often not worth it (e.g. 40 hour weeks for 200K may trump a 70 hour week for 400K).

But overall, it solves a lot of problems. Especially for children. An adult might be thrifty enough and smart enough to live well on the cheap, but kids need resources from others.

[Brenngun]

Paul, your a person who's very comfortable with high risk. You've proven that during your earlier military career. Follow the path you want but don't choose it because it's less risky. You handle risk very well and will survive the result.

[Yobber76]

I think Barrett Strong said it best

"The best things in life are free....
But you can give them to the birds and bees.....

I need money! (That's what I want)

[Wools]

Originally Posted by FTX I

Well put and once again I get what you're saying Rashid. All I'm trying to say is that if money brought happiness in itself, once you had money, ipso facto you'd be happy and that's not what happens in real life at all. Money is an instrument. Of course it is. But it's the person and what he/she does with his resources that will bring a state of mental happiness or not IMO. People tend to think that someone with less means would be less happy, but like I said on my previous post I don't believe that at all for the reasons stated above.

Totally agree and well said.

[TswaneNguni]

Money is very important,if you don't have it .

[swils8610]

Tough situation Paul. A few things I’d consider….

How stable is your old boss at his new job?

Will you be able to work your pay scale up from when you start?

Is your old boss doing it as measure to “get even” with his old employer?

Can you sit down with your current employer and ask for a return to work/promotion timeline?


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[FTX I]

Originally Posted by Wools

Totally agree and well said.

[airchitect]

Are either of the gigs remote? I have a buddy working two full time gigs remote pulling down considerable funds. Anyway, the opportunity to work for your old boss and hang with the boys sounds like it may always be an open invitation. If you have the chance to bump up in title and pay, do that BEFORE you move on.


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[904VT]

I don't think you're stuck Paul with having to commit to either company long-term. What I mean by that is you can always go to your former boss's new company later and being honest about your concerns now. You can also do the same with your current company leaving letting them know that you are taking a different position but that you are open to coming back when they figure out their next moves. I do understand though the frustration not knowing currently and the company stringing things along.

Can you do work as an independent consultant and/or get your own GSA approval? If the typical service would be too small on your own to meet requirements of bidding, may make sense to look at company 2 and hope to help grow contracts there to drive profit for increase in salary later. I think future growth potential is important, but perhaps the financials/timelines don't make sense to influence enough at company 2 and you will be locked at current salary projections. I think we will see growth in your field however, so I wouldn't be surprised to see structural demand shifts coming.

[904VT]

Originally Posted by airchitect

Are either of the gigs remote? I have a buddy working two full time gigs remote pulling down considerable funds. Anyway, the opportunity to work for your old boss and hang with the boys sounds like it may always be an open invitation. If you have the chance to bump up in title and pay, do that BEFORE you move on.


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It's not possible to work those gigs remotely.

[Duey]

The big thing that hasn't been mentioned is your age in the work force. Yes Paul you're getting OLD in the workforce. And the old saying a bird in the hand is worth two in the bush comes to mind in reading this. Take the new job - money is money

And people who say money can't buy happiness have never been poor ....

[AF_Rob]

Sorry to hear, Paul. I know money isn't everything, but is surely is something and a reality of our world.

Playing the game for 10 months and not knowing how many more can be frustrating and would make most leave by now. I hope they get back you you soon.

Drastically altering your lifestyle for a "maybe I'll be happier" is a bold move.

[Rashid.bk]

Originally Posted by Star Ferry

Tend to agree. There are folks who manage to be happy without money, and the tradeoffs involved in making more money are often not worth it (e.g. 40 hour weeks for 200K may trump a 70 hour week for 400K).

But overall, it solves a lot of problems. Especially for children. An adult might be thrifty enough and smart enough to live well on the cheap, but kids need resources from others.

Great example of the proper context. It matters a whole lot in life and the quality of that life. And I think this thread reinforces it as money is one concern Paul is having as it relates to his employer. That concern can convert to stress real quick, we all know what stress can do to our health and family relations...

Originally Posted by Duey

The big thing that hasn't been mentioned is your age in the work force. Yes Paul you're getting OLD in the workforce. And the old saying a bird in the hand is worth two in the bush comes to mind in reading this. Take the new job - money is money

And people who say money can't buy happiness have never been poor ....

Great advice and I can definitely agree and relate with your last sentence.

[Sthe]

It almost seems like we live for money.

[CharlesN]

Originally Posted by TheVTCGuy

Is my room ready?

Paul,

I am really upset to hear about your Dilemma.

That must be an awful position to be in.

Thankfully i retired well before the Covid things seemed to just get into everybodys life in one way or another. But, knowing that That is no benefit to you.

Just hang in there. Things will come right for you.
I know it must be an extreemly stressful time for you and your family but, Dont forget, You do have an alternative family that you can chat to 24/7/365 which hopefully will take the edge off the stressful emotipons and feelings. That family is right here.

You will make the right decision, just take it slow and easy, dont rush. Thats when errors occur.

I realy do wish you all the very best.

Charles.

[1William]

These are some very thoughtful responses and varying opinions. I am impressed. My two cents is money and happiness are not mutually exclusive. You can have both and it is OK and I do know people that have both. I believe that you need to get in touch with your current employer and get an up to date assessment of the situation and the projection of when you will be brought back and in what position. Ask, and see what they say. Without definitive time and role information I would take the other job and start working and moving forward. If they want you back when everything settles then they can contact you and make an offer. You are in control of you and I would get to work. Just my thoughts.

[Jocke]

Your room is ready and it costs half your income. So if you have zero income, it will be a good deal for you when I settle for half.

[TheVTCGuy]

Originally Posted by Jocke

Your room is ready and it costs half your income. So if you have zero income, it will be a good deal for you when I settle for half.

I’m on my way Jocke

[DonRickles]

Originally Posted by Jocke

Your room is ready and it costs half your income. So if you have zero income, it will be a good deal for you when I settle for half.

Hold on there! I’ll throw in free indoor garage parking for the C4! Environmentally controlled too!

You’re off the guest list now too, you big bully!

I’ve been dying for a way to use that emoji! lol ��

[BNA/LION]