Hello guys!
(Throwaway account).
As the title indicates, I’m in the fortunate position of having 2 job offers (entry level in my field). Would you please help me decide? Below are the main terms of each offer:
Company W:
80hrs/biweekly. Pay: $56/hr. Location: Chicago, Illinois. Got word about this offer yesterday after intense networking over the last few months with recruiter and (potential) future supervisor. Offer is verbal at this point but the supervisor said he would make it official next week (HR paperwork also to follow if I accept the offer). 2 weeks of vacation time. Possibility for overtime. Company W is rather large (locations nationwide and abroad), and opportunities for growth are there if one is willing to relocate...or so I’ve been told. Annual bonus of up to $24k/year initially. 401k match at 4% rate.
Company S:
40hrs/weekly. Pay: $65/hr. Location: Middle of Nowhere, Washington state. ~2.5 wks of vacation time. Not clear about possibility for overtime (company S has so many locations in any given town). Not clear about opportunities for growth at this company as it seems to have more of a regional presence than a national footprint (Midwest and west coast; very few locations in NE). 401k match rate of 6% starting in year 2 of employment.
I should say I’m single; I’m from New England and don’t have any ties to either state above. At this point in time, I’m fine with moving to either place with the intention of coming back to NE in 1-3 years with experience and depending on opportunities. Wanna be close to family and friends, ya know.
Here’s the kicker: 248k in student loans (professional degree from private uni) 😑
Im a first gen immigrant and I grew up poor so living frugally (tho healthily) is second nature. I plan on living as I do now so I can pay off much of this debt as quickly as I can. For the move, I’ll only have what can fit in my car (own car outright with no payments)...Don’t own much really. Don’t plan on buying a house soon or anything. Don’t have/watch cable tv; don’t plan on getting it either when I move. To minimize renting costs, I plan on getting a studio apartment (preferably) or finding a roommate. In my field, work shifts run relatively long (~10-12hrs), so I feel there’s no need for a huge house or expensive toys as I won’t have the time/energy to use them. My hobbies usually include reading, biking and other outdoors activities (all rather inexpensive). One thing I plan on doing is giving a monthly allowance to my (widowed) mom. She’s helped me so much that I wouldn’t be where I am today if it wasn’t for her. Plus, she never went to college and worked low paying jobs to support us without much in terms of savings/retirement funds. This maybe a cultural thing but I wanna pay her back some, even tho she doesn’t want to.
Anyway, could you guys please give me your 0.02 cents about the above offers? Things I should be thinking about when deciding which one to accept? Taxes? Savings accounts to look into? I have such a poor financial literacy im scared of making blunders unnecessarily. I really could use any and all advice from you experienced folks. Please help. Thank you!!!
Submitted May 11, 2018 at 08:36PM by docofthepresent https://ift.tt/2KWinTe
