New job offer...what to do??

[BUSA_CHeMiST]

Ok, will keep this short and at the same time try to give as much detail to my dilemma without generalizing it too much...here goes.

So, I've been with my current company for 1.5 years now. I am a Drilling Fluids Engineer down here in East Texas, pretty much the heart of Natural Gas drilling wells. I absolutely love what I do, and especially that I get to do it in this area.

Recently, a very good friend and ex-coworker of mine went to another Drilling Fluids company. We have kept in touch since he left (mid November 2007) and he has repeatedly said that if there ever was a position with his new company available, he would give me a call. Well, HE CALLED!

The company that I am currently employed with operates in 77 different countries and employs over 15,000 people, majority of which are engineers. The company he works for is an up and coming independent, operating in 4-5 states here in the southern US and employs roughly 125 people. So, needless to say, the job security will be there with the larger, but obviously its not going to be 100%. The new company is very innovative, doing some very state of the art drilling systems.

Here's the dilemma. The NEW company is offering me $25,000/year MORE than my salary right now. Yes, that's not a typo. PLUS, i will be getting in on what can still be considered the ground floor of the company and will be able to potentially grow and expand with them. I will be able to stay here in my house and not have to relocate, and the work load will inherently be the same as I'm doing now. Job security is one of my fears, but i think everyone has those thoughts, no matter how large the company is. (remember ENRON???)

I'm 25 years old, no kids and own my own home. Very comfortable with the way I live now and my current salary, but I really don't have anything to lose since I don't carry a substantial amount of debt. My girlfriend and I definately live within our means, but I make enough for us to have fun on it as well (vacations, BUSA mods, etc)

I know, the decision is ultimately up to me, but I turn to this board for most everything, so i want to hear some of you alls input on this. WHAT WOULD YOU DO IN MY SHOES

 

[firebug]

You are young yet. I say go with the new job, enjoy the salary increase, and grow with the company.

Then . . .

Spent some of that money on the Busa!!

 

[BusaWhipped]

I've moved from large stable to small risky startup twice in my like.  While there is some risk that needs to be weighed with the small startup, there is little opportunity for growth in large and stable. I won both times. BTW, the firat small risky became the second large stable that I left.

 

[ditchdr]

well like you said it is up to you. What are the chances of comming back ot your current job if you leave? If you are good at your job and unhappy at the new company I dont see why you could not return. In the end it is up to you.

 

[BigBSBusa]

You are young yet.  I say go with the new job, enjoy the salary increase, and grow with the company.  

Then . . .

Spent some of that money on the Busa!!

+1

 

[Charlesbusa]

I would go for it!

If you don't take some risk, you'll never get anywhere.

I would spend the first years at the new company, with the higher income, paying $25,000 a year more into your house if its already not paid off. That way if the crap hits the fan, you won't have to worry as much about the mortgage.

 

[BUSA_CHeMiST]

well like you said it is up to you. What are the chances of comming back ot your current job if you leave? If you are good at your job and unhappy at the new company I dont see why you could not return. In the end it is up to you.

well ditchdr,
the chances are actually pretty slim. With this particular company, they take things VERY personal when you leave to go market yourself to the up and coming competition. Now as far as being able to find yet ANOTHER company to work for if this one does go belly-up, that should not be a problem. I might not be able to get back with a major heavy hitter like the one i'm with now, but I will not count it out either.

The oilfield/natural gas field is booming right now. Price of oil will never see $90/barrel anymore. So i feel like atleast in my lifetime, the oilfield work will be stable.

 

[BUSA_CHeMiST]

Thanks for the responses guys. That is the direction I have been leaning too. I know I will burn some bridges leaving this office, but it cannot be helped. I just have to remember its all about business and who wants to pay me for my services and my talents.

well, here's to increasin the BUSA's MOD BUDGET!!!

 

[BusaWhipped]

Thanks for the responses guys.  That is the direction I have been leaning too.  I know I will burn some bridges leaving this office, but it cannot be helped.  I just have to remember its all about business and who wants to pay me for my services and my talents.  

well, here's to increasin the BUSA's MOD BUDGET!!!  

If you handle it correctly, even if they take it personally, it doesn't have to mean the bridges are burned.

Good luck.

 

[pbghost]

at 25 and few commitments, I'd take the oppertunity to grow. good luck

 

[GSXRFANN]

Man, go for the new job. You have only been with your current employer for a year and a half, so that really isn't that much seniority or time lost. Enjoy your freedom and go with the higher paying job. Just leave on good terms and they may hire you back if need be. GO FOR IT!!

 

[99'busa]

do it.

 

[fsusux]

GO!
FOR!
IT!

 

[Mr Bogus]

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1352477[/ATTACH] PM]
Thanks for the responses guys. That is the direction I have been leaning too. I know I will burn some bridges leaving this office, but it cannot be helped. I just have to remember its all about business and who wants to pay me for my services and my talents.

well, here's to increasin the BUSA's MOD BUDGET!!!

If you handle it correctly, even if they take it personally, it doesn't have to mean the bridges are burned.

Good luck.

The fact you are even polling on this tells me you are headed for greener pastures and only need a bit of reassurement.. Enjoy the new job sir!

 

[el stumpo]

Take the new job!

 

[johndoe]

Take the new job, Don't sell your home though. Buy a second home and rent it out and let the renter pay for the other home.= free home

 

[Charlesbusa]

PM -->

1352689[/ATTACH] PM]
Thanks for the responses guys.  That is the direction I have been leaning too.  I know I will burn some bridges leaving this office, but it cannot be helped.  I just have to remember its all about business and who wants to pay me for my services and my talents.  

well, here's to increasin the BUSA's MOD BUDGET!!!  

If you handle it correctly, even if they take it personally, it doesn't have to mean the bridges are burned.

Good luck.

The fact you are even polling on this tells me you are headed for greener pastures and only need a bit of reassurement..    Enjoy the new job sir!

Try not to burn bridges, it may come back to you later.

Any reasonable boss will understand $25,000 more a year. Heck, he'd probably leave for $25,000 more a year.

 

[zukracer]

so my 2c

The new company is a start up, look at their financials, are they publically traded?  Are you getting stock as part of the compensation?  Look into all aspects of the company, their debt & capital funds, venture capital groups that are invested, etc.

Look at all the benni's that are beyond salary, how do they match up?  Are you going to marry your girlfriend, start a family in the next 2-5yrs?  Look at what you have vs what you get for longer reaching stuff...health insurance is a huge piece of the pie.  Also do you contribute to any company sponsored/funded 401k or stock purchase plans?  At 1.5yrs, when do you vest in those items?  If its at 2yrs and is worth even 1/2 of the new salary, see if you can push the new job out a few months to get your vesting.  I'm sticking around at my job for that reason, I vest in the 401k and stuff at 3yrs, I'm crossing 2yrs but there's a fair amount of change I'd loose.

The fact is that at 25 you really dont have much to loose as long as you have other job leads in case your new gig isnt "greener pastures".  Look at your savings, can you live for 3-6months if you lost your job?  Just evaluate it all.

I'm a computer engineer working with cisco's software for contact centers.  I worked at cisco for 5yrs and left for a partner company doing the same work.  I got better benni's and 30% more money and a great job.  I did walk away from 8-9 other job offers, one for even more money and in hind sight, dont regret it at all.

Toss the 25k out of the equation, would you go work for the new company for the same salary?  Look at all other aspects of the job offer/company/situation and ignore your salary, make the decision based on those items and you will know you have made the right choice.

HTH

 

[BUSA_CHeMiST]

zuk, you bring up some very valid points

1. Company is not publicly traded, independent with private ownership, one of the main investors being the the current C.E.O. I will be asking he questions about their finances, projected goals and earnings and will request to see earnings from the last 7 years that they have been Incorporated.

2. Benefits are pretty much the same, with the new company actually carrying a tad bit BETTER medical plan than the major im with now. Yes, the girlfriend and I do plan to marry in the next year, but have decided that we will hold off on kids for 3-4 years for the sole reason that we are young and have plenty of time.

3. Yes, i very actively participate in my compaines 401k. In order to become vested with my company, we use the following table...
1 years of employment...20% vested
2 years of employment...40% vested
3 years of employment...60% vested
4 years of employment...80% vested
5 years of employment...100% vested

So, with the last 1.5 years, I can infer that I am approx 30% vested, so I will be bringing some with me. I also have a sort of "contingency" personal 401k you might call it with an independent broker that I started my last year of college. Parents taught me about money and savings early on, so I feel like I have put myself ahead of most my age as far as looking to the future at my retirement (which is definately NOT easy as a 25 year old).

<div class="iF-Passage"><div class="QUOTEHEAD">Quote:[/Quote]<div class="QUOTE clearfix"><span class="quoteBegin"> </span>
Toss the 25k out of the equation, would you go work for the new company for the same salary? Look at all other aspects of the job offer/company/situation and ignore your salary, make the decision based on those items and you will know you have made the right choice.[/quote]

There are still many questions here that I want to address with the VP in my interview monday. I honestly feel the ball is my court since they are actively pursuing ME, I didn't necessarily go to them. To be honest with you, I don't think I would go to work for this company for the same, atleast not until i sit down with the VP and discuss their plan for me, my potential future with the company and their goals and how they plan to achieve said goals. If he can answer my questions and make me feel as confident in my job security as I am with the major that I'm with right now, I feel like it will be then that I can definitevly make my decision.

Thanks for the help Zuk, always glad to have another mans perspective. I know the grass always looks greener, but you my friend have definately helped me take a step back and see the forest, instead of just the trees. Thank you sir!

 

[Projekt]

Jump on that rollercoaster and ride the hell out of. You need to broaden your horizons anyway and not fear leaving any job. Living life this way is much more carefree..