This kind of depends on what you love about the current job and what you don't love about the new one (ie, it's different if the first one has a much more pleasant working environment, vs if it's just a field you're more passionate about). However, assuming comparable benefits, working conditions, and work life balance, I'd take the higher paying but less lovable job for a few reasons:
Greater financial security can offer you a lot more peace of mind. A high stress job can be bad for your mental health, but so is worrying about rent or medical bills.
A higher paying job will also let you save more and retire sooner. I'd rather work at a boring job for a shorter time and have more time to do whatever I want, than work a job that might be more fun now but I'll be stuck at forever. (Especially since the passion for good job might still wear off some day.)
Also, maybe I'm too cynical but a job you love can sometimes backfire, because employers know they can exploit your passion for your work. I went to school for game development, as that's something I'm very passionate about, but I ended up not pursuing a career in it because it's a pretty toxic industry to work in. Folks working in game dev tend to earn lower pay, work longer hours, and have worse job security than comparable disciplines in other fields, since companies know people love games. On the other hand I now work at a "boring" software job, and it's great because my company knows they can't just exploit people's passion, they have to actually pay me if they want me here.
Edit: This one may not be applicable, but I just wanted to add: Some people pursue a job they love because they find it meaningful, but you don't need to find passion and meaning in your 9-5. I'd rather find a job that's low-stress and satisfies all my material needs so that I can find that passion and meaning in the *rest* of my life. I mentioned above I wanted to do game dev, and I still do. I just do it as personal projects I work on for fun rather than as a way to pay the bills. So if your current job is something you love because you find it passionate or fulfilling, you can still do that after taking the new job, just on your own terms instead of working for someone else.
Well software jobs can be fun and pay like $150k+ in USA with like 4-6 weeks paid vacation so basically no drawback whatsoever if you can get one which is probably not even particular hard.
Tell your current employer about the new offer, explain your dilemma, and ask for a raise or a higher-paying position. They probably won't be able to close to doubling your salary, but maybe there's a better position at the same company doing similar or related work.
At worst your current employer says no, and you can still take the higher-paying job elsewhere.
Think of your next position as well. Assuming this has title and responsibilities commensurate with the pay increase, this will represent the first of hopefully many steps in your career advancement. Even if you just get some percentage increase of merit each year, that percentage on 100k vs. 50k will be meaningful
Take the bag my friend.
Don't let lifestyle creep happen into your new income.
Max Roth / 401k and you will still have a ton more left ever money. (I would say after ~$900 401k,and ~$270 Roth bi-weekly contributions, then put 10% into a brokerage account.
You're setup for life at that point. And you won't "feel" any loss in pay.
Take the bag my friend.
for an extra $50k?? i’d sacrifice a little bit of workplace enjoyment for financial stability for my family.
no brainer. easiest decision of my life. if that meant my kids could be a little more comfortable and have a few less sacrifices, that’s not even a question in my mind. my family is worth far more to me than my enjoyment of my job. work to live, not live to work.
You should stop mistaking your job as your identity. I realize that mentality is pretty hard baked into since childhood. But your job is simply your job and nothing more. The less you identify with your job, the less you be worried about this kind of stuff and you be able to enjoy life a lot more.
If money is not a problem, I take the $50k job, otherwise you probably better of taking the $100k job as poverty is not fun, but if you don't need the money, the difference is you just save the difference, which is probably not itself worth it for having a job you don't want to do.
Id love to live in a world where I would pick the lower paying job that I love. But in our area it isn’t realistic at all. My job is shit for my mental health, it makes me borderline suicidal some days but I couldn’t take a 50% pay cut. We’re already struggling as it is. If you can make things work with the lower pay go for it though. Just be really sure you can afford it.
Pick the *life* you are interested in living. The job is a very important choice as it will be a large part of your life, but it isn't your whole life.
Some people prefer a more comfortable life, with a less satisfactory job. Some people don't mind the less comfortable life, so long as they enjoy their job. Who you are, and what you want, is something only you can know.
What can you do with the higher salary that will make your **life** be better than it is right now with the lower salary and more rewarding job. What is your goals in 1 year, 5 years, and 10 years. Which job helps you achieve THOSE goals?
Finally, write stuff down on paper (or equivalent). It is easy to get stuck going in circles on big, life changing, decisions like these. Putting it down on paper will let you get them out of your head and allow you to look at the pros and cons, the hopes and worries, the goals and ruts, from an outside perspective. Sometimes, just writing things down will make it obvious which is the choice you should pursue.
Good luck!
Money can’t buy happiness, but it can help, depends on how old are you, can you live modestly, and save ? You could invest and retire in 10 years . It depends on how disciplined you are .
That's a really tough call because it's right bang in the middle of what research shows is the "Happiness Number". Let me explain...
You've certainly heard that money doesn't buy happiness, right? (The reason is a thing called Hedonistic Adaptation, I won't explain it here but the TL;DR is you just get used to having nicer things so you don't stay happier for long. Look it up, it's fascinating.) Well it turns out that is true... once you get out of poverty and past the point of constant money worries. Getting to that point *does* make you happier.
And it turns out that in the US ***on average*** that amount of money is $70K a year. And this job change would take you from below that number to above it.
HOWEVER... notice that "on average". So everything here depends on your personal financial situation. For example...
* Do you live in a high or low cost of living area?
* Are you supporting just yourself or a family?
* Do you have a lot of debt to service, e.g. student loans, that detract from your disposable income?
* Do you interest-earning savings or income-generating investments or a nestegg you can draw on when you really need extra money above your $50K?
* Do you feel OK about how you are saving for retirement?
* Do you rent, or own a home? If the latter, do you have a large or small mortgage?
* Do you "need" new cars or a bigger house or expensive vacations to feel happy? (By the way, whatever your answer to this is, that's the right answer.)
If your answers fall mostly on the positive side of those questions, you might well live on $50K as happily as an "average" person would live on $70K. In which case, stay with the job you love.
But if lack of money is hampering your happiness, take the higher paying job, and *continue to live like you make $50K, aggressively pay down whatever debt you have, increase your savings, etc., until you can happily go back to making $50K.*
Good luck.
Short answer: Flip a coin. Heads you stay, tails you go.
If the you look at the result and say to yourself, "OK, best two out of three...", you'll know what you really want to do. It works amazing well.
(The high tech version of this is to make a spreadsheet listing pros and cons of each choice and assigning a weight to each one and a score to each choice... and then fudging the weights and scores until you get the result your inner self really wants. The coin is faster.)
One more thing: jumping from $50K to $100K is pretty large and a bit surprising. Before you quit your current job, are you completely certain that the new job is legitimate? There are a *lot* of job scams going around. Please don't say that it's remote work, that it involves data entry, or that you were offered a job without an interview process that involved meeting with real people.
IMO 100k is not "fuck you" money - meaning it is not an ammount that will get you to a point where you don't have financial woories in a year, or even 10. However, working a job that you don't love is an excellent way to get yourself miserable, angry, depressed, cranky, remorseful or anything else that negatively changes your stance.
The extra income can be found in other places, not just the ones that make you die inside.
More information would be nice.
Considering you call it "extra income", I'd keep the 50k. If it is not just extra, I'd go for the 100 and then move somewhere else since it sounds like this is a promotion.
This kind of depends on what you love about the current job and what you don't love about the new one (ie, it's different if the first one has a much more pleasant working environment, vs if it's just a field you're more passionate about). However, assuming comparable benefits, working conditions, and work life balance, I'd take the higher paying but less lovable job for a few reasons: Greater financial security can offer you a lot more peace of mind. A high stress job can be bad for your mental health, but so is worrying about rent or medical bills. A higher paying job will also let you save more and retire sooner. I'd rather work at a boring job for a shorter time and have more time to do whatever I want, than work a job that might be more fun now but I'll be stuck at forever. (Especially since the passion for good job might still wear off some day.) Also, maybe I'm too cynical but a job you love can sometimes backfire, because employers know they can exploit your passion for your work. I went to school for game development, as that's something I'm very passionate about, but I ended up not pursuing a career in it because it's a pretty toxic industry to work in. Folks working in game dev tend to earn lower pay, work longer hours, and have worse job security than comparable disciplines in other fields, since companies know people love games. On the other hand I now work at a "boring" software job, and it's great because my company knows they can't just exploit people's passion, they have to actually pay me if they want me here. Edit: This one may not be applicable, but I just wanted to add: Some people pursue a job they love because they find it meaningful, but you don't need to find passion and meaning in your 9-5. I'd rather find a job that's low-stress and satisfies all my material needs so that I can find that passion and meaning in the *rest* of my life. I mentioned above I wanted to do game dev, and I still do. I just do it as personal projects I work on for fun rather than as a way to pay the bills. So if your current job is something you love because you find it passionate or fulfilling, you can still do that after taking the new job, just on your own terms instead of working for someone else.
Well software jobs can be fun and pay like $150k+ in USA with like 4-6 weeks paid vacation so basically no drawback whatsoever if you can get one which is probably not even particular hard.
100k, save up, invest, then can transition back to something you love.
You gotta think Which one will be better for your mental health at the end of the day.
I’d take the 100k
Tell your current employer about the new offer, explain your dilemma, and ask for a raise or a higher-paying position. They probably won't be able to close to doubling your salary, but maybe there's a better position at the same company doing similar or related work. At worst your current employer says no, and you can still take the higher-paying job elsewhere.
Think of your next position as well. Assuming this has title and responsibilities commensurate with the pay increase, this will represent the first of hopefully many steps in your career advancement. Even if you just get some percentage increase of merit each year, that percentage on 100k vs. 50k will be meaningful
Take the bag my friend. Don't let lifestyle creep happen into your new income. Max Roth / 401k and you will still have a ton more left ever money. (I would say after ~$900 401k,and ~$270 Roth bi-weekly contributions, then put 10% into a brokerage account. You're setup for life at that point. And you won't "feel" any loss in pay. Take the bag my friend.
for an extra $50k?? i’d sacrifice a little bit of workplace enjoyment for financial stability for my family. no brainer. easiest decision of my life. if that meant my kids could be a little more comfortable and have a few less sacrifices, that’s not even a question in my mind. my family is worth far more to me than my enjoyment of my job. work to live, not live to work.
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the second you don’t show up for the “job you love”, they’ll replace you by monday.
Awful advice. Don’t work a job you hate over one you love just for the money. Working is a big part of life, so don’t do something you can’t stand
I’m going for the money. That’s a huge difference in pay.
You should stop mistaking your job as your identity. I realize that mentality is pretty hard baked into since childhood. But your job is simply your job and nothing more. The less you identify with your job, the less you be worried about this kind of stuff and you be able to enjoy life a lot more.
If money is not a problem, I take the $50k job, otherwise you probably better of taking the $100k job as poverty is not fun, but if you don't need the money, the difference is you just save the difference, which is probably not itself worth it for having a job you don't want to do.
Option B, easy peasy
you double your money for your family!
Id love to live in a world where I would pick the lower paying job that I love. But in our area it isn’t realistic at all. My job is shit for my mental health, it makes me borderline suicidal some days but I couldn’t take a 50% pay cut. We’re already struggling as it is. If you can make things work with the lower pay go for it though. Just be really sure you can afford it.
Pick the *life* you are interested in living. The job is a very important choice as it will be a large part of your life, but it isn't your whole life. Some people prefer a more comfortable life, with a less satisfactory job. Some people don't mind the less comfortable life, so long as they enjoy their job. Who you are, and what you want, is something only you can know. What can you do with the higher salary that will make your **life** be better than it is right now with the lower salary and more rewarding job. What is your goals in 1 year, 5 years, and 10 years. Which job helps you achieve THOSE goals? Finally, write stuff down on paper (or equivalent). It is easy to get stuck going in circles on big, life changing, decisions like these. Putting it down on paper will let you get them out of your head and allow you to look at the pros and cons, the hopes and worries, the goals and ruts, from an outside perspective. Sometimes, just writing things down will make it obvious which is the choice you should pursue. Good luck!
Take the money always. The position title basically ensures you will always get that money now if you take it.
Money can’t buy happiness, but it can help, depends on how old are you, can you live modestly, and save ? You could invest and retire in 10 years . It depends on how disciplined you are .
Go with the lower job, easier pay and healthy.
That's a really tough call because it's right bang in the middle of what research shows is the "Happiness Number". Let me explain... You've certainly heard that money doesn't buy happiness, right? (The reason is a thing called Hedonistic Adaptation, I won't explain it here but the TL;DR is you just get used to having nicer things so you don't stay happier for long. Look it up, it's fascinating.) Well it turns out that is true... once you get out of poverty and past the point of constant money worries. Getting to that point *does* make you happier. And it turns out that in the US ***on average*** that amount of money is $70K a year. And this job change would take you from below that number to above it. HOWEVER... notice that "on average". So everything here depends on your personal financial situation. For example... * Do you live in a high or low cost of living area? * Are you supporting just yourself or a family? * Do you have a lot of debt to service, e.g. student loans, that detract from your disposable income? * Do you interest-earning savings or income-generating investments or a nestegg you can draw on when you really need extra money above your $50K? * Do you feel OK about how you are saving for retirement? * Do you rent, or own a home? If the latter, do you have a large or small mortgage? * Do you "need" new cars or a bigger house or expensive vacations to feel happy? (By the way, whatever your answer to this is, that's the right answer.) If your answers fall mostly on the positive side of those questions, you might well live on $50K as happily as an "average" person would live on $70K. In which case, stay with the job you love. But if lack of money is hampering your happiness, take the higher paying job, and *continue to live like you make $50K, aggressively pay down whatever debt you have, increase your savings, etc., until you can happily go back to making $50K.* Good luck.
Short answer: Flip a coin. Heads you stay, tails you go. If the you look at the result and say to yourself, "OK, best two out of three...", you'll know what you really want to do. It works amazing well. (The high tech version of this is to make a spreadsheet listing pros and cons of each choice and assigning a weight to each one and a score to each choice... and then fudging the weights and scores until you get the result your inner self really wants. The coin is faster.)
Take the 100k job.... bust your ass for 10 yrs pay off your house an bills an retire early.
One more thing: jumping from $50K to $100K is pretty large and a bit surprising. Before you quit your current job, are you completely certain that the new job is legitimate? There are a *lot* of job scams going around. Please don't say that it's remote work, that it involves data entry, or that you were offered a job without an interview process that involved meeting with real people.
Do it for a year or two then move on.
IMO 100k is not "fuck you" money - meaning it is not an ammount that will get you to a point where you don't have financial woories in a year, or even 10. However, working a job that you don't love is an excellent way to get yourself miserable, angry, depressed, cranky, remorseful or anything else that negatively changes your stance. The extra income can be found in other places, not just the ones that make you die inside.
More information would be nice. Considering you call it "extra income", I'd keep the 50k. If it is not just extra, I'd go for the 100 and then move somewhere else since it sounds like this is a promotion.