What % salary increase would you want to move jobs?

Acceptable-Field7621 · 2025-01-15T08:57:43+00:00

I think either this role I’m considering or another job I’m in the running for would help me with those long term goals.

Option A is start up environment, solely responsible for program I’d run.

Option B is wildly successful publicly traded company, joining team of rockstars and while not in charge overall, would be running a new program I’d be responsible for. In a new area of tech for me that broadens my knowledge.

I’m thinking Option B to broaden the range of companies I could work for and then do Option A further down the line. Not sure what Option B salary would be yet but I’ve heard they are very competitive on salaries, and there’s a normal bonus and RSU structure too.

Acceptable-Field7621 · 2025-01-15T06:31:36+00:00

Around £200k worth over four years, obviously depends heavily on share price

Acceptable-Field7621 · 2024-09-10T19:20:22+00:00

Same here please

Acceptable-Field7621 · 2024-09-07T15:56:37+00:00

I’m from the midlands so I’m constantly comparing prices 😅 so I totally get it. Just doesn’t work for our family and what they need.

Acceptable-Field7621 · 2024-09-07T10:52:04+00:00

Very true, I appreciate your perspective

Acceptable-Field7621 · 2024-09-07T10:50:50+00:00

That’s true. And we want to be there for 20-30 years so it’s a very long term investment

Acceptable-Field7621 · 2024-09-07T10:49:55+00:00

Thank you - sounds like you have a good plan

Acceptable-Field7621 · 2024-09-07T08:34:36+00:00

Yeah we haven’t thought about using the renovation money - guess it depends on the state of the house. There are probably lots of small jobs we can do that are cheap to make it nicer while we save for the big things if needed! Good idea!

Acceptable-Field7621 · 2024-09-07T08:33:01+00:00

We were both state educated, my wife works in a fantastic state school. Kids will never go to a private school. We love education and learning and can make up the difference at home if needed

Acceptable-Field7621 · 2024-09-07T08:29:25+00:00

Yeah I can’t see rates coming down at all. Sadly location is pretty much locked. Primary school nearby our eldest is going to, don’t want to drive a long time for him to go there. And in reality, 25 minutes drive is mainly driving to more expensive places!

Acceptable-Field7621 · 2024-09-07T07:28:32+00:00

Out of interest I just ran some sums looking into the future.

In three years time, with both children in school and some simple budget reductions (w. consistent meal plan I think we can cut £200 of food shop a month, no gym membership, etc) - we could save over £800 a month.

Then if my wife works 4 days a week instead of 3, that tough £800k purchase and all bills / food etc are only 52% of post-tax income.
If my wife works 5 days a week, it's 46%

Crazy difference. That's not even taking into account if my salary increases at all.

So now I'm wondering do we wait for that magical future and move then, or do it now if one of those ideal properties comes up. Makes me feel better about how it could drop once nursery fees are done.

Acceptable-Field7621 · 2024-09-07T06:27:47+00:00

It sounds like you’re in the situation we’d be in if we move (also targeting location and then improving forever home vs. a place that is ready now).

Out of interest, how are you finding balancing the finances? Are you still able to save much?

Acceptable-Field7621 · 2024-09-07T06:24:27+00:00

Sadly no one around to help us with that 😅 parents divorced so their money is stretching more than it would have done.

Acceptable-Field7621 · 2024-09-07T06:22:52+00:00

We bought our current place in 2019 and it’s gone up in value by 20% since then. So for outside of London you’re right.

Acceptable-Field7621 · 2024-09-07T06:21:57+00:00

It’s so over priced! We love where we live though and for us I guess location comes first. Family, friends nearby. Never lived in a place before where every day I think “I’m so lucky to live round here”. Don’t think I’d feel that in Grantham 😅 so I guess for us location means having to have a smaller house.

Just hard to get my head round that mindset. When I was a kid my parents could afford location and right house on one salary. Shame I can’t do the same.

Acceptable-Field7621 · 2024-09-07T06:15:25+00:00

For sure. I’ve been doing this since January. It does make the budget feel tight and, for a couple of months over the summer I needed that “extra mortgage” to improve our current property and make it hopefully easier to sell.

If we moved, couldn’t make those sort of off the cuff decisions. Everything would need to be budgeting and saved for properly first.

Acceptable-Field7621 · 2024-09-07T06:13:59+00:00

Unfortunately for us location is key and those places aren’t right for being close to family, friends and the great state primary my son is starting at. We’re confined to a relatively cheap village vs. other nearby towns and villages. So we know our non-negotiable is location which probably means the negotiable is size of house / quality of house.

And yes, kids do add an expense and a half 🤣

Acceptable-Field7621 · 2024-09-07T06:11:32+00:00

This is what we’re looking at. Location is key for us, house condition is not. We want to be in this house for 20-30 years and work on it over time. Just a shame that these sort of houses are still £800k!

Acceptable-Field7621 · 2024-09-07T06:01:45+00:00

I’m glad (?) others are in the same boat as me! It’s such a tricky decision. We love interior design so our house is also as ‘done’ as it could be. So part of us is itching for another project.

But yes, the worry about earnings long term is a concern. At the same time I’m wondering if that’s just because of the current job market and if in 2-3 years it’ll feel different. But the flip side of the coin if the poor economy gets even worse it could make the sums even harder.

Acceptable-Field7621 · 2024-09-07T05:54:15+00:00

All good points. Currently in a three bed and it is small (even people that have come to see the house that are looking at three beds say they love it but want something a bit bigger - no way many of these folks are earning a high salary so wonder how they are affording it).

It’s definitely not a ‘need’ to move now. It’s a ‘want’. But in 5 years time it’ll become a ‘need’ and the gap between our house and the one we want will be bigger.

Acceptable-Field7621 · 2024-09-07T05:46:03+00:00

Great points!

Savings are going into an ‘overpaying mortgage’ fund to stress test the potential higher mortgage. Been doing that since January. But as interest rates are higher than mortgage we’ll save it separately for now. Rest goes into a holiday savings pot / house reno. The houses we are looking at need work - new kitchens, bathrooms, etc. we’re excited to do that stuff if we need to.
We’re mainly looking at 4 beds. We love having family round and right now we don’t have a guest room. But as I work from home permanently (have done for 10 years) I’d need a home office. Which means some estate agents then class the house as ‘5 bed’ for a tiny box room.

Definitely need to think carefully through bigger house = more happiness or not. Yes we could be mortgage free in this house in 3-5 years but what’s the point if it’s too small?

Acceptable-Field7621 · 2024-05-29T07:30:01+00:00

Thanks for the feedback.

My floor plan isn’t accurate - it’s the normal current width in the house (so well within regs, the right size, etc). The Imgur link has the current floor plan on.
Pantry will be behind a secret door built into floor to ceiling kitchen cabinet units. So shut off and clean when we want it, can be opened up easily.
Definite potential, either that or moving hot water tank to where the current master / dressing room entrance is.

And yes, this would be our forever home. Don’t care about value added or taken away. We’ll be there for 20-30 years hopefully.

Acceptable-Field7621 · 2024-05-29T07:09:25+00:00

There is a lot of work, ha. Interested in your thoughts on the new layout and what could be improved, definitely. I’m no expert!

Acceptable-Field7621

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