What should I do
What should I do
(OP)
I'm looking for some career advice.
I recently left Company A to join Company B, this involved relocating to a new city. Unfortunately with the housing market slide in Alberta, I have been unable to sell my house in my old town and am stuck paying $5000/month between mortgage in the old residence and rent in the new city.
Part of the package to join the new company was an incentive signing bonus which I haven't touched to date but will have to start tapping into to pay for housing if my house doesn't sell soon.
I have been offered another job with Company C, which would see me move back to my old town, thus relieving my housing woes...
What do I do with Company B, They are depending on me, as they had been looking for someone for a long time, they pay well, and the job is interesting, on the other hand, I financially can't keep this up. Any advice on how to deal with Company B???
I recently left Company A to join Company B, this involved relocating to a new city. Unfortunately with the housing market slide in Alberta, I have been unable to sell my house in my old town and am stuck paying $5000/month between mortgage in the old residence and rent in the new city.
Part of the package to join the new company was an incentive signing bonus which I haven't touched to date but will have to start tapping into to pay for housing if my house doesn't sell soon.
I have been offered another job with Company C, which would see me move back to my old town, thus relieving my housing woes...
What do I do with Company B, They are depending on me, as they had been looking for someone for a long time, they pay well, and the job is interesting, on the other hand, I financially can't keep this up. Any advice on how to deal with Company B???





RE: What should I do
<<A good friend will bail you out of jail, but a true friend
will be sitting beside you saying " Damn that was fun!" - Unknown>>
RE: What should I do
RE: What should I do
RE: What should I do
However you need to do all the sums now that you've got company C to consider.
Cheers
Greg Locock
SIG:Please see FAQ731-376: Eng-Tips.com Forum Policies for tips on how to make the best use of Eng-Tips.
RE: What should I do
RE: What should I do
Cheers
Greg Locock
SIG:Please see FAQ731-376: Eng-Tips.com Forum Policies for tips on how to make the best use of Eng-Tips.
RE: What should I do
Am I right, Greg? If so, I think it is reasonable to allow you to remain a contributor to this engineering board. Now cedar remaining on this board is another issue...
Since this post is intended to be all in fun, you should know that I have been tweaked for not completely reading an OP much more often than just once on this forum...and deservedly so.
Craig
RE: What should I do
Greg,
I am not being obstanant over the price of my house. If you must know I bought a year ago, I listed it 10% ($38,000) below what I paid in October of 07, and for $8000 less that the appraised value (appraisal done in September 08)
The house is in small town alberta, and the housing market is crashing! There have only been two houses sell in this town in the last 2 months, it's not that I'm stuck on a selling price, there is simply no one around to buy.
Of my $5K/month for housing it is split about 60-40 between mortgage and rent respectively. (once again moving from small town Alberta to Calgary where the prices are still high).
Company B hasn't paid for any relocation yet as all of my stuff is still in the old town.
If I dropped it another $40,000 I would lose over $75,000 in under a year!
RE: What should I do
"If I dropped it another $40,000 I would lose over $75,000 in under a year! "
Sadly that's what a housing market crash can mean.
Trust me, reduce it low enough and someone will be interested, it's just at the moment 'low enough' is very low, possibly lower that the 'appraised' amount by some way.
A difficult situation and I wish you the best, just try to consider everything including quality of life issues etc.
Is there any possibility of renting out the old place? It can be a pain and may not be a long term option but you might consider it.
KENAT,
Have you reminded yourself of FAQ731-376: Eng-Tips.com Forum Policies recently, or taken a look at http://eng-tips.com/market.cfm?
RE: What should I do
Perhaps refinancing to a short-term interest-only loan. That way you are not adding equity into an asset with declining value.
Can you turn the house into a rental? Maybe it can make money for you.
RE: What should I do
If it were me, I would certainly talk to my employer - especially if it means possibly leaving the company because of.
It sounds like they were looking for you for a while and would at least make some effort to retain you - especially in assisting you with something that isn't your fault. And they knew you were moving towns when they hired you, right? And they also know this housing market is in the crapper, right? So....none of this should come as a surprise.
At least, if I were your manager, I'd certainly want to know the situation. Plus, the stress of the situation might affect your work - another item I'd like to know about/discuss as your manager.
Just my 2 cents. Good luck!
RE: What should I do
jk.
RE: What should I do
-
Syl.
RE: What should I do
Good Luck!
RE: What should I do
RE: What should I do
........Yes were slow and Im on lunch break
RE: What should I do
RE: What should I do
At least you'll know how much they like you, or don't.
Seriously, why not explain the situtation to them and see what kind of arrangements might be possible. Those that don't ask...
**********************
"Pumping accounts for 20% of the world's energy used by electric motors and 25% to 50% of the total electrical energy usage in certain industrial facilities." - DOE statistic (Note: Make that 99.99% for pipeline companies) http://virtualpipeline.spaces.live.com/
RE: What should I do
RE: What should I do
Company A was not able to keep me busy enough with the project they had promised (welcome to 2008/2009) and I was extremely bored so I quit for greener pasture. I decided to pay back the signing bonus to Company A and moved to Company D. I am still living in Calgary and renting out the house I own, but the new job at least promises to be challenging and there looks to be enough work to keep me busy for a while.
It's been a hard few months, moving to a new city and a new job that promised greater responsibility and better pay, only to find that the job was terrible, unbearable and not as advertised (pay was still good though:) )
Here's to starting fresh in a new year!
RE: What should I do
An acquaintance of mine not too long ago quit his job to accept a new one, only to find out at the very last minute that U.S. citizenship was required. You'd think that would have been something the recruiter and the company both would have made clear and verified before any offer was made.
Hg
Eng-Tips policies: FAQ731-376: Eng-Tips.com Forum Policies
RE: What should I do
The manager did a good job of selling me on all of the responsibility and extensive world travel that I would be involved in.
In their defense, I started in September and the world economy went south shortly after. However it was the first job that I have worked where I thought of the Management as complete donkeys. Usually I manage to have a pretty good relationship with management, but these guys were a real piece of work.