I'm weighing whether it makes since for me to transfer locations with work.
It's technically a promotion and comes with an 11% increase (5% in weekly pay and 5% in bonus increase) and entry to a higher tier golden shackle program connected to my new branches profits that I will see first fruits from in 5-6 years (estimating that at roughly 10-18k per year every year after 5 years and a huge payout of around 300k when I retire at 65). My current state has no income tax and new state would have 5% income tax, the cost of living increase and online calculators put it at 15% increase from old location to new.
I have a wife and several young kids - we love our current home and have it paid down substantially with a very low interest rate and we'd have it paid off in 7 years. The new location would require a more expensive home purchase and we would get a new 15yr mortgage with a slightly higher interest rate. We have spent 6 years fixing up our current home from foreclosure and pretty much have it like we want it now.
I love my current job - and I'm not really being pushed to the new location by my current manager. There is room for growth for me at the current spot and the only reason I've been asked to move is the guy that had the new job burned out and didn't like working for that manager. The offer letter also requires me to move by the end of this year - which would be stressful. I currently have a company vehicle - I might lose the vehicle if I do not move - but that is an unknown for now.
I'm thinking the pain involved in the move and the potential unknowns at the new place makes this a pretty easy decision - staying put, not to mention a hardly noticeable difference in take home pay each week.
We're at the new location now looking at neighborhoods. One of the areas we could live in is incredible and like mayberry according to others - so if we really love it there, I might feel differently - but right now I just don't see it making sense for us.
Submitted October 14, 2017 at 09:10AM by chuckernorris http://ift.tt/2gDERea
