Hacker News Reader

> What would you do?...career or financial freedom.

Go back to the hiring executive that made you an offer.

Explain to them you're almost all-in and you recognize it's a great opportunity. Additionally, you believe that you can be accretive to their team. Your only issue, the minor gap in compensation. Let them know you would be inclined to move laterally. Ask if they have any flexibility to help with the difference (differed compensation, bonus program, stock options, perqs, etc...)

Be prepared to show the last 2 years of payment records. The transparency gives you leverage. This is an instance of no ask, no get.

This. If they want you to be their head honcho they should have substantial room to move on salary or options if they're convinced you're the best option and you have good reason to consider their existing offer low enough to be a deal breaker

Doesn't mean they'll match your previous role, but they should make your decision a lot easier.

I was in a strategical position with my last company and was an asset for a few reasons. When I gave my resignation my CEO said what do you want, name a number. I told him it's not about money, I need to move on to grow my knowledge and experience. I could have said 100k and would be happily making my 6 figure salary while in reality at the time I was worth half at best. (Friends at the company tell me the guy hired after me is making 110k, ouch).

BUT, since moving companies I've gotten my hands dirty, I've had opportunities to use tons of new technologies and I'm in sort of a lead developer role now. Im not making 100k but I'm damn sure much closer to being worth it then when it was just "offered" to me by my last CEO trying to prevent me from leaving.

My knowledge is now tenfold what it was before. I learn more and more every day and work on solving exciting problems. I know that whenever I switch companies next, or am up for a review I will be making a major salary jump because I have leverage now.

Strategic career moves that increase your value/skill/knowledge will always lead to more money in the end. Justifiable money.

Unless you're very close to full retirement (age), the career growth is likely to be the far better choice both commercially and emotionally.

No point earning an extra $50,000 per year if you burnout in 2 years and have to live off savings for a couple of years while you pull yourself back together.

More importantly, I live by the phrase "Income follows Assets". Think about property, think about product development, and think about your own personal skills and energy as your assets. Career growth is an investment in your personal asset base - much like buying a house to rent out or coding a new product, there will be an investment (in this case, both time and lost revenue) and it sounds like there will be a return on investment (income following your new assets) in time.

50.000 is a lot of money (maybe not so much if you're in SF or NY), is the new position a "once-in-a-lifetime" opportunity?

Do you think you will really have oppportunities being the "head honcho"? Can you turn the 50.000 into an opportunity for yourself? (your own startup?)

It's always easy to go down salary-wise, not so much to go back up.

I am in a very similar predicament. I can rake in cash doing things I dislike or look elsewhere for employment.

The conclusion I've come to is I either need to be saving the money towards some specific purpose (startup, long term travel, etc) or I need to look for a more satisfying job.

The question I ask myself is can I do this for X more years so that I can properly retire (where X < 10)? And the reality is I can't bare the thought of doing it for that long so clearly what I'm doing is unsustainable. With that in mind, you might as well make a change now because why prolong the inevitable?

This is something I've been wrestling with extensively for the last year or so. If you'd like to have someone to talk to about it please don't hesitate to reach out to me (email in profile).

What would you do with more money? Do you know you would be significantly happier with that money, or know exactly what you would spend it on, or would it probably sit in an investment account?

What would you suggest if your friend came to you in the exact situation?

Thanks for the exploratory questions, they help.

I would probably save it and try to "retire" that much earlier. "Retire" meaning being able to choose when and how much to work.

I would not be happy with more money, but perhaps happier with the freedom it would "buy" me. Spend time with my family, pursue other interesting careers, etc.

Its a light at the end of the tunnel thing. I absolutely hate my current role, but can/should I hang on (not go insane, drag myself out of bed every morning and be away 10 hrs a day from my family) for 1 more year to pocket the money and then get out of dodge.

Not sure what I would tell a friend. I guess I would tell them if you are not happy, make a change. But mine is more of decision between change now to a known role without extra money or change later to an unknown role (the other role will be gone, but I will still have a role somewhere in the company) with the extra money.

looks like you have already made your decision and is seeking for validation, but hear me out:

consider:

- burnout is real. check if your concern is an ongoing issue or a reflection of current events.

- grass is always greener on the other side. in 6 months you might be back where you started.

- you might close a door for something you are not entirely sure you will be good at.

- decide and don't look back.

You will still be saving a considerable amount of money, so I would consider taking the risk (and less money) in exchange for less grey hair ;)

Ask HN: Money or Career Growth?