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Hi Blinders, I got the following offer from Albertsons for a Senior Data Analyst position: Base: $130k Performance bonus: $0 Stock: $0 Sign on: $5k Relocation: $7k So, year 1 TC is $135k. Location: Phoenix, AZ -or- Pleasanton, CA. Same offer for both locations. Thinking of choosing Phoenix for LCOL. Current TC: $127.5k $115k base, $11.5k bonus. I work as an Analytics manager for a mid size mortgage bank in Irvine, CA. So basically almost a lateral move. Pros for leaving: 1. Somewhat of a job security: mortgage is the worst industry to be in right now. Our lending division is down 90% in revenue. Other divisions are going to be very adversely affected Q1 and Q2 2023. 2. Better brand name and I finally get to leave the mortgage space. 3. Decent savings as LCOL and no income tax in AZ. Cons: 1. Idk if it is a good idea to move to Phoenix. Should I buy a $300k house? Should I rent? I'm confused. 2. My girlfriend moved to LA last week. I cannot ask her to move with me to Phoenix although I really want to. She said she's ok with a long distance relationship but it's going to be tricky. 3. No longer an "Analytics Manager". What do you guys advise? Should I take the offer? Please tell me your rationale or general thoughts. Thank you 🙏
Relocation, setting up the new place, getting adjusted to new env, proving yourself again.. may be $150 more per month? $75 per pay check? - Totally not worth it if you can stay and prep. Lot of good companies hiring. But I don’t know the package for data quality analyst- is it similar to SDET?
+1 not at all worth moving for peanuts and probably losing your gf
You won’t have any leverage once you get laid off. Bad market
I would say just keep interviewing and stay sharp, if you are laid off, take the severance and get a job quick. You will still be in a much better shape.
I like this advise, thank you. Only caveat though is the severance pay wouldn't be a lot. It would only be a week of pay per year of tenure which is going to about a month of pay since I've been with the company for 4 years.
Agreed. I also feel that the other offer is not necessarily that much better. It's better, but I wouldn't make a life change for just a low difference, considering also your personal life situation you just mentioned.
Will housing market go down?
Take it. You can shift to other tech in Phoenix. Get plugged in quick and network during that year. You may be surprised. Don’t buy a house.
Tough one. I would say the move is not worth it. I did a similar downlevel and regret it. If your ultimate aim is to go the managerial route, get some more management experience and then re try after a few years. It's very hard start from stratch and climb the ladder in a new company. Certainly will take more time. Making a shift from banking is hard but not impossible. You have done it once you can do it again
Not worth it. Btw, AZ income tax is 2.5%, not zero. I would either try negotiate $25k more or just keep interviewing.
I think the odds of getting laid off within mortgage is quite high. It is by nature a very cyclical business.
I have worked in banking my entire career and would never work in a large bank’s mortgage division for this reason, much less at a mortgage bank.
A little bit of fuzziness in the future with the potential Albertsons/Kroger merger.
Take it. No brainer
Curious if you could expound on why you think it’s a no brainer?
Why is it a no brainer?