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11:26 pm September 7, 2011
| Buck Inspire
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Hi all,
Most of us have day jobs we've been at for awhile. We're comfortable and have our routines down. If a job similar to yours popped up, what salary increase would make you move out of your comfort zone and on to greener pastures? Of course there are tons of other variables, I am just focusing on a salary increase to keep things simple.
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12:03 am September 8, 2011
| The College Investor
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If I was talking just salary, no other benefits, it would probably be around $25k.
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1:56 am September 8, 2011
| The Financial Blogger
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I actually need 2 things:
a 4 days schedule (which I currently have)
a 10% increase with obvious chances of increasing my salary over a short term period (such as 5% per year for the next 5 years if I perform well).
I'm more looking into long term growth and quick jump in salary. It's important to see yourself in the future with your job as you can't jump from on job to another each year :-(
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4:38 am September 8, 2011
| Derek@LifeAndMyFinances
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It would take quite a bit for me because I already moved out of state once. It took quite a lot of effort to relocate again so that my wife and I could be near our families. If the new job took us out of state again, I think I'd need an increase of $50k or more. If it was local though, I would consider it for a $10k increase per year.
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5:11 am September 8, 2011
| everydaytips
| | Detroit Area | |
| Member | posts 455 |
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My husband has made many job moves for increased salary. Generally, it is at least 15 percent increase in salary, but bonus is also a big part of the equation, and sometimes stock options, and car allowance. It is hard to state just in salary because there are so many different forms of compensation.
However, my husband has always switched jobs during 'good times'. In today's economy, if he didn't like his job, his criteria for salary/general income increase would probably not be as high as it was before.
Regarding my job, nobody is going to give me what I want besides my current employer, so I can't even think about it. (Not so much in money, but part time hours, working from home, choosing my own hours, etc.)
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6:31 am September 8, 2011
| Frugal Confessions
| | Houston, TX | |
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Interesting question Buck, as I am worth much more money on the private market than working for government because of my skill set. And actually, it is typical for us investigators to be nabbed by people in industry that we investigated! I'll have to give this some thought…
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6:58 am September 8, 2011
| Sustainable PF
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This one is really hard for me to respond to. We have so many benefits as government employees (union, defined benefits pension, great health benefits, vacation, 36.25 hr work week, compressed work schedule).
Finding another employer with similar benefits/perks would be hard.
Assuming I could duplicate these benefits and work environment I would likely need about 10%. If I were moving to private industry I think i'd want 50%.
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7:19 am September 8, 2011
| Henry @ TotallyMoney
| | London | |
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It is very tough to keep the discussion to just to salary increases. I would say an increase of £20000 would be enough to get me to move. However, I could probably get that now if I left my job, so it is enough for me to consider leaving, but not enough for me to hunt for a new job. For me the working environment and hours is more important than the pay, so it is really tough to take them out of the equation.
I would probably be more likely to take a pay cut and start out on my own.
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8:18 am September 8, 2011
| The Happy Homeowner
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Interesting topic! I absolutely love the non-monetary benefits of my job: good work environment, friendly co-workers, a supportive supervisor, etc, so it's hard for me to put a price on leaving that. I would love more vacation time, but I already have a pretty flexible schedule when I need it. If only looking at salary, I'd have to have at least a 30% increase to even consider leaving.
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10:23 am September 8, 2011
| Buck Inspire
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Hi TCI,
Thanks for your quick reply. That's impressive you have such a definite answer! Would you review their benefits if the salary jump was only $10k?
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10:30 am September 8, 2011
| Buck Inspire
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Hi TFB,
4 day work week, nice! So the fifth day is dedicated to your empire? Great point about the long term view. Too often I only look at the short term. Thanks for the reminder!
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10:35 am September 8, 2011
| Buck Inspire
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Hey Derek,
That makes sense. That was quite a journey! Actually with such a huge move, can your moving expenses be written off? Also how are things after the move?
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10:40 am September 8, 2011
| Buck Inspire
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Hi Kris,
You're right. There are so many forms of compensation which makes these decisions so complex. To simplify, I am trying to create three categories. Won't consider, have to consider, and ARE YOU OUT OF YOUR MIND, TAKE IT!
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10:42 am September 8, 2011
| Buck Inspire
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Hi Amanda,
You seem to be in a unique and enviable position. Good for you! Would like to hear your thoughts from your POV after you think it over.
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11:06 am September 8, 2011
| MoneyIsTheRoot
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These are all post college answers:
I left my first job for the second one for a 28% increase
I left my second job for the third one for a 15% increase
And my current position was somewhere around the same leap.
If I had to move out of state, it would take a total package…relocation, signing bonus, and and double digit % increase in salary.
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11:08 am September 8, 2011
| Miss T @ Prairie Eco-Thrifter
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Gosh. Tough question. There really are so many other factors besides money that could influence this decision for me. However if I could get the same benefits, same perks, same opportunity, same awesome boss, and same flexibility, then a salary increase of 30% would be my tipping point.
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11:37 am September 8, 2011
| Buck Inspire
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Thanks SPF! Lot of great factors to consider. I'm guessing with Baby SPF on the way, changing jobs would be the last thing on your mind. But using your criteria, if something did arise, would you take it?
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11:44 am September 8, 2011
| Buck Inspire
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Thanks Henry! Work environment and hours are important to me, too. Like I said in an earlier reply, I am trying to simplify the decision making process. Also love hearing what my fellow bloggers think about this subject. Exciting that you would break off and form your own company!
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11:45 am September 8, 2011
| Buck Inspire
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Thanks Justin! That's quite an impressive track record. You must be in high demand. Good for you!
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11:48 am September 8, 2011
| Buck Inspire
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Thanks Miss T! Tough questions are great to find out what makes you tick and learn more about your fellow bloggers. In the future, I need to add this into my blog. Great for community building.
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