fulfilling job question
fulfilling job question
(OP)
Hi
I have a conumdrum, and I hoping to hear some insight from others who might have faced a similar situation. I realize that I am very fortunate to have this decision, but it is not an easy one!
I my present job is almost exactly my dream job, except for the pay. I work at a very small company, designing custom vehicles and equipment. We have an in-house machine shop where we fab all of my parts. Because of the size of the company, I have the opportunity to work on a large variety of projects, from mechanisms, structural components and hydraulic design. Never the same thing twice.
I recently purchased a house with the wife and 2 kids. We barely have the income to stay afloat, have a very minimal retirement savings (income too low for regular savings), no 401k etc. My schedule is very flexable to allow me time with the young kids. My present company is struggling financially, but I think there is great promise for future projects. But at the end of the day, this company does not exist to make a profit, so wages will always be under industry standard. The company exists to make cool stuff. We have 4 engineers, and a total of about 10 people on staff.
I have been here since graduating school 7 years ago. I am not too familiar with "the outside world" regarding other engineering jobs.
I have an opportunity to make considerably more money (~40%) doing something more on the industrial side. The new company has maybe 10 engineers,and ~200 total. If I did not have my present job, this oppurtunity would be very good; not a dream job doing robotics, but relatively interesting, with good benefits and pay.
so here is the question: have you had to make this type of decision? what did you do, and are you happy with your decision? Is it time for me to grow up (I'm 36 years old...) and work a real job, or will I regret "selling out" for the cash?
cheers, all!
I have a conumdrum, and I hoping to hear some insight from others who might have faced a similar situation. I realize that I am very fortunate to have this decision, but it is not an easy one!
I my present job is almost exactly my dream job, except for the pay. I work at a very small company, designing custom vehicles and equipment. We have an in-house machine shop where we fab all of my parts. Because of the size of the company, I have the opportunity to work on a large variety of projects, from mechanisms, structural components and hydraulic design. Never the same thing twice.
I recently purchased a house with the wife and 2 kids. We barely have the income to stay afloat, have a very minimal retirement savings (income too low for regular savings), no 401k etc. My schedule is very flexable to allow me time with the young kids. My present company is struggling financially, but I think there is great promise for future projects. But at the end of the day, this company does not exist to make a profit, so wages will always be under industry standard. The company exists to make cool stuff. We have 4 engineers, and a total of about 10 people on staff.
I have been here since graduating school 7 years ago. I am not too familiar with "the outside world" regarding other engineering jobs.
I have an opportunity to make considerably more money (~40%) doing something more on the industrial side. The new company has maybe 10 engineers,and ~200 total. If I did not have my present job, this oppurtunity would be very good; not a dream job doing robotics, but relatively interesting, with good benefits and pay.
so here is the question: have you had to make this type of decision? what did you do, and are you happy with your decision? Is it time for me to grow up (I'm 36 years old...) and work a real job, or will I regret "selling out" for the cash?
cheers, all!





RE: fulfilling job question
Make a list with two columns - PRO & CON
Fill them out. Think it out. Talk to your wife. If gutsy enough talk to your boss about a raise.
Weigh the columns.
Make your call.
Good Luck. Been there - done that. I generally moved on..but not always. As they say "the devil you know...."
RE: fulfilling job question
I've certainly gone the route of ditching a low-pay/stock option deal. That company folded because its basic technology concept was not that well conceived, and the principal made some bad decisions. The road I did take turned out reasonably well.
There's no way I can promise that it'll turn out the same way for you; YMMV. Nonetheless, at some point in time, you do have to deal with the responsibilities of having a family and the attendant choices.
What happens if your present company folds in a year? Will you be able to get the same opportunity that you have now?
Realistically, the only possible regret is whether you have spent enough time with your family. All else is mostly secondary.
TTFN
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Chinese prisoner wins Nobel Peace Prize
RE: fulfilling job question
IRstuff,
I really like your last line: "Realistically, the only possible regret is whether you have spent enough time with your family. All else is mostly secondary." I work less than a mile from home, and so can easily take lunches with the family etc. Kids grow up fast! The new job is not too far, though would require a car (~20 minute drive).
RE: fulfilling job question
Then it is not a company, it's a "non-profit". But it doesn't sound like that is strictly true, just that your company is small and struggling right now? Who is bringing in new projects/contracts, and can the rest of the company assist with that (marketing)?
I had almost the diametric opposite career path to yours, starting in a large corporation, and over the years have steadily moved to smaller and smaller companies, to find a place where the responsibilities and opportunities matched my talent (or lack of? whatever, say desires then). It meant setting my sights somewhat lower regarding monetary compensation, but was worth it I think. I also have lucked out in having ridden most of the latest housing boom on the uphill side, so the mortgage was never a real issue for us; however we waited on kids until the 2nd mortgage was paid off (14% interest rates had a way of focusing the mind). I guess this latter comment is that we found and lived a lifestyle that suited our income, not the opposite.
RE: fulfilling job question
I guess a follow-up question would be why did you move to smaller companies? for flexability? variable responsibilities? what did you dislike about larger co's?
cheers
RE: fulfilling job question
RE: fulfilling job question
You cannot.
You are running out of money.
Leave.
Mike Halloran
Pembroke Pines, FL, USA
RE: fulfilling job question
RE: fulfilling job question
RE: fulfilling job question
RE: fulfilling job question
"Gorgeous hair is the best revenge." Ivana Trump
RE: fulfilling job question
Cheers
Greg Locock
New here? Try reading these, they might help FAQ731-376: Eng-Tips.com Forum Policies http://eng-tips.com/market.cfm?
RE: fulfilling job question
RE: fulfilling job question
Thought #2: A fun job is great, but adequate compensation pays the bills. It sounds like your boss is getting a free ride out of you.
Thought #3: If you have seven years doing your dream job, it's conceivable that you have a wealth of experience that might be in demand. Perhaps you would consider freelancing on the side to augment your income. The rewards come with a price, tho....
Thought #4: When your kids turn 14, they will disown you anyway. They won't return until they're 23 or so.
TygerDawg
Blue Technik LLC
Virtuoso Robotics Engineering
www.bluetechnik.com
RE: fulfilling job question
A lower-than-average wage is very different than a wage that's 40% below your market value. Someone is reaping the benefit of that difference. It may be your employer, or it may be their clients, but it isn't you.
If you do make a profit on a job, is that profit shared equitably? That also makes a difference.
If your current employer really is all about the fun, you need to talk with them about how much this fun is costing your family. Who knows: it could be that you're being paid so poorly only because you've never asked, or never asked in a credible way- i.e. it's been quite clear that you loved it there too much to ever consider leaving, regardless what they paid you.
A job paying 10-20% less than the market rate, but offering a great work environment, cool projects and lots of flexibility- that's a great deal, as long as you're both willing to live and capable of living within those means. If you're not, and you're borrowing from your own future to finance the present fun, it's a bad deal and you need to make some compromises.
It's not impossible to find a great work experience in a profitable company. In fact it's easier to find a truly great work experience in a profitable company than in one that makes none.
RE: fulfilling job question
A star for that, Molten.
RE: fulfilling job question
The other position is at a growing company, so they can afford to pay relatively well.
I have always looked at my pay rate as an investment in my continuing (practical) enducation and future. being paid with great, varied experience rather than cash.
I think part of my hesitance for this new position is that I had envisioned moving from my present job to a "NASA/ ferrari" type job. this new opportunity pays well, but it is not in robotics, and I worry it could limit my opportunities in robotics in the future.
And, moltenmetal, great way of putting it- Financially, I am borrowing from my family's future. I think I have hit that turning point where I have made a great investment in my skill set, but growth presently is slowing.
RE: fulfilling job question
Well, I'd be hesitant to take 'salary.com' information as being too definitive, it seems to be weighted on the high side from what I've seen. So you're probably closer to being paid typical 'market value' than you think.
However, what you do have is apparently 40% higher than current position real data point.
What is Engineering anyway: FAQ1088-1484: In layman terms, what is "engineering"?
RE: fulfilling job question
-Dustin
Professional Engineer
Pretty good with SolidWorks
RE: fulfilling job question
Just something that recently happened to my SB and I. She recently accepted a position with a company she had waited over a year to get in to. That was with help from the inside as well. It equated to a 45% increase in pay. That is something you notice right now. In her case it turned out to be her dream job as well. A win win for her/us. I like it when the SB is happy with her job. SB happy=Scott happy :)
Because of this, I have been able to max out my 401k deductions, and we are banking about one of my paychecks per month. (Paid every fortnight)
Just my two cents...
Good luck,
Scott
I really am a good egg, I'm just a little scrambled!
RE: fulfilling job question
The salary survey data you've relied upon has been called into question and I can't confirm or deny that- we do have good salary survey data where I work (though you have to pay a membership to get it). I've heard many people talk about how it's "skewed high" by participation of certain organizations, but that's usually a baseless ploy used by employers to get away with paying less.
Taking the salary survey data as gospel, here's two things for you to consider:
1) If you can't live on 10-20% less than market rate, you need a change in lifestyle or expectations, and
2) 20% beyond market rate as base pay rather than incentive/bonus pay won't last, unless your new employer has invented robotic chickens that lay golden eggs
This is purely a personal choice. If working for less than you can command elsewhere makes you feel cheated, get another job. If you get up every day looking forward to what you're going to accomplish that day, pay is secondary.
RE: fulfilling job question
If he was a single guy only looking to support himself, sure. He has a family, and it sounds like he lives paycheck to paycheck. I don't think he should whore himself out for the biggest paycheck possible, but some compromises are appropriate in order to ensure his family's financial well-being. Just my $0.02.
RE: fulfilling job question
Tobalcane
"If you avoid failure, you also avoid success."
"Luck is where preparation meets opportunity"