Married with 1 child who is about to start Kindergarten this year. Currently own a home with about 40-50k in equity. Current base salary is 53k but with overtime I make about 70k currently. Was offered a chance to move to our Chicago office which would come with an immediate promotion and raise to a base pay of 73k and would still be eligible for overtime at 1.5hr rate. I typically work about 10hrs OT a week. Position also comes with a guaranteed 5% raise every year I am in Chicago, but I am not sure what the cap is at. I imagine 85-90k base at this position, but still can get OT. We have about 10k in credit card debt we have been trying to payoff slowly the last year or two. Company would pay for all moving expenses, 2 trips up to Chicago to scope out a place to live, and an immediate $6k bonus. We have to accept by Monday.
We would have to do spend some money to get the house ready to sell, but it would increase our return when sold.
I never thought I would be posting one of these stories in here, but this opportunity sounds too good to pass up. My wife works remotely so it won't affect her job. What things should I be considering in this decision that I may not be already.
edit: the raise would equate to about 38-40% increase immediately. To get that where I am would probably take several more years.
Edit 2: Would be looking to rent an apartment in Deerfield due to school zoning and proximity to work. Approximately 6 miles. Estimated apartment rent would be 2200/month. Estimated expenses based on COLA increase is 4500/month. Estimated income between 5000-5600 take home/ month. Would be debt free with about 25-35 emergency fund.
Submitted May 10, 2018 at 05:36PM by NothinsOriginal https://ift.tt/2I4xE6t
