How much money would it take for you to move from a job you loved?

[Sundaycoffee]

I have a job I really enjoy, great company, people, perks and a 30 min drive door to door.

A role has come up opportunistically through an industry contact and I'm at 2nd interview stage so starting to wonder what I would do if offered.

Pros: A step up the ladder, so a good career move in terms of new job title and a payrise from 47k current salary to 55k new salary but im assuming room to negotiate. Its a company I would be interested in working for but smaller compared to my current huge very well known employer. Lets assume perks and bonus around the same.

Cons: Would mean an hour and 15 commute into London on the train.
I am single, no kids or huge lifestyle commitments but have worked in town before doing a similar commute prior to my current role and I it was a factor in me finding a job closer to home. Also the risk of leaving a job I enjoy. Train fares eating into new salary increase.

Would you take the job on that salary or would you need more to make the move?

I'm not sure I'd bother with that sort of commute. Especially if you're happy where you are now. Unless it was a HUGE jump in salary and no extra costs incurred.

I'm currently going through the same thing on a smaller scale. Current salary 27.5k for 37.5 hours a week and I've just interviewed for a role which is 25k but for only 22.5hrs. I'm really happy where I am now but feel like I'd be stupid not to go for it.

How long have you been in current job? If its a while it might be time for your next move. What would your take home pay increase be after increased commute cost? If you could get the next salary closer to 60k, then the jobs you'd be going for after that would be 70k plus. So it's all about do you want to climb the ladder? Or are you happy to take your time doing that? There is no right or wrong there, just think about where you want to be in 5 and 10 years time. Just because a job is nice doesn't mean you should stay there too long.

I would need double what I’m on now to change to that commute.
To be fair I wfh now so no commute at all but I do enjoy my job, like my colleagues and have flexibility, I’m not sure money could replace that.
If I needed the money things might be different

I wouldn’t move for money if I was comfortable enough, I’d be much more to move for better work life balances and a longer commute wouldn’t do that for me.

I think your pay rise could quite easily be wiped out by an increase in train fare, it’s £8k more but on the higher rate tax band it’s not going to be that much more each month. Considering you’ll be in london and you aren’t now, that isn’t a big pay increase when you take into account London salary. Is the job more responsibility?

What would this add to your CV? Would working at a smaller place give you different challenges?

I would be looking at an increase in salary in about £10k to change at the moment but honestly more like £15K if my commuting costs were going up. I would only consider moving for less than that if the move could add something significant to my CV and make my next move easier.

Yeah the commute is the sticker for me. Note it would be 3 days a week in office and 2 at home. The same as I do now. I think I would be tempted at 60k maybe if I could bump them up but not sure that 55k quite cuts it! I am comfortable on current wage, but can't afford luxuries. Been wanting to upgrade to a new car from my current 12 year old run around. Holidays I have to save quite hard for now that I am paying a mortgage and bills alone!

If I worked in the same role in London but in a more competitive firm (very corporate culture) I would probably be earning about 35% more.

However I would have a 1.5hr each way commute, plus working my tail off from 8-6pm (likely longer..) in a very stressful environment. After paying for my train fares and with longer hours, I highly doubt my pay per hour would be much different.

I am lucky that I earn enough to be comfortable so I have no real desire to job hop. To me, most of the battle is not only having a job that interests you, but also be surrounded my a great team. I don't feel like sacrificing that.

I am a PA supporting at MD level and this would be supporting as an EA for the CEO of the company, so more responsibility in that respect.
The company I work for now pay well (I earn more than my friend doing the same job in London Zone 1) so technically I am already paid at London wage despite working in greater London (zone 4) which is why the increase doesn't seem as great. So realistically, if I ever want to earn more I will need to commute as i am unlikely to find a higher paying job where I am now. Sadly no opportunity for promotion at current job either.

You need to look at how much your commuting costs will be. I think the train fare is going to take most of that expected pay rise and so you won’t see any benefit expect longer days and more responsibility.

The commute cost will kill off a large chunk of that , it puts you in the next tax bracket so that will cost extra , you loose time on the commute .

Personally I’d use the fact you have got so far through the interview process to try an negotiate a pay rise at your existing job .

Very little gain, the commute in the winter will be a pain, I would stay in the job I loved, are there any opportunities for a pay rise where you are?

With commuting costs and the higher tax bracket, wouldn’t you be worse off?

One thing I found when I got a job offer a few years back is the contract terms were so bad they didn’t justify the salary increase. Despite this being a fairly senior role in a tech company there was no sick pay, no health insurance, only 20 days annual leave, very low pension contributions. I had been offered a similar increase to yours and accepted the verbal offer, once the contract came through I declined as the other benefits were worth more than the pay rise.

Just something to consider

For the change of life and commute you're talking about I would need a 20k + raise really after taxes/pension etc

If you get offered the EA post just negotiate a better salary. I’m surprised EA pay would be £55k in central London - is it quite a small organisation? If so perks may not be quite so good.

Anyway basically - negotiate the pay up as much as possible then either accept or use offer to get your current employer to pay you more.

Be hard nosed (pleasantly!) and don’t feel bad about it. Times are tough.

No, Not a chance.
Difference in salary is £8k. £55k take home is £3,412.45. £47k take home £2,998.54. £413.91 more. Once you take off commuting costs and the extreme hassle of commuting, will it be worth it?

I wouldn’t move to a new job for that commute.

if it’s something you really want you need to find out the monthly cost of train fares to work out how much extra you will have a month, I doubt it is worth it.

Yeah I've made the decision not to go ahead. I had another call today and they mentioned that they were moving to a new office within the next few months (next to current location) as they want room for everyone to be able to come into the office 5 days a week. So there's not flexible working either. It just seems so old school and inflexible not to offer hybrid working in am office environment.