Need some outside perspective- stay or go? (employee, 401k, application)

[LaKings55]

TLDR- choosing between staying in current position, where I'm topping out, but a higher position is coming open soon; or taking a similar position out of state with a lower initial pay, but higher range and slightly worse benefits. 5 days a week vs every other Friday off and partial remote (current). Moving now would mean at least a year or two of living in that area without a social support network.


Hello all you fine people! I've been recruited to another organization (public sector, local government in a different state). It would require a move away from family for a couple years, until they're ready to move near me. However, there is another opportunity coming soon with my current org (also public sector, local government) .


-Few facts about me:
-Mid 30's, 10 year public sector data analyst (same org), make $44/hr (closer to $46/hr after some additional premium pay, etc).
-Vested in pension and stand to make $1700/month as it stands now, earning more if I stay longer.
-Friends have all left the area, but family is still closeby. Folks and I hope to move to a new area to stay close together within the next few years. The most likely candidate is the area the other position is in.


-Current position- hybrid schedule, 2-3 days in office each week, plus every other Friday off. Healthcare 100% covered, pension, plus 401k w/employer match.
-Employees partially fund the pension, and we pay social security/ medicare taxes, so that's a bit more out of our paychecks.
-Maxed out in my classification, so I'll only get COLAs unless I get the new position.
-I have a lot of vacation saved (over 400 hours) and earn 6 hours every pay period.


-Potential new job in current org (different department)- obviously same benefits, same schedule, same hybrid schedule.
–New pay range would go up to 120k per year, 5% bump on current pay to start.
-I know the manager and get bonus points on my application for being an active employee. Work is very similar to what I already do, supporting the same application.
-Obviously, no guarantee that I would get it.



-Out of state: very similar position, with a pay cut (down to $36/hr to start)
-Lower taxes, lower cost of living and the pension is 100% employer funded. No social security. After taxes, take home pay is basically the same as current (due to high taxes here and employee contributions to retirement)
-5 day a week schedule, but nearly 100% remote. Can be called into office at times, meetings, etc. A move is still required for residency requirements.
-Healthcare: several years of high deductible plan before being put on the regular plan.
-Less vacation time, not allowing new employees to use it during the probation period.
-No 401k with match, but does have 457b plan.

[LaKings55]

Obviously, I'm leaning towards just staying. I'm not too keen on the social isolation factor of the new area, at least at first. Plus, my ultimate goal is early retirement. Staying, even for a another couple years does get me there faster. I already have over $500k saved or invested, and one pension locked in.

[Colorado Rambler]

Originally Posted by LaKings55

TLDR- choosing between staying in current position, where I'm topping out, but a higher position is coming open soon; or taking a similar position out of state with a lower initial pay, but higher range and slightly worse benefits. 5 days a week vs every other Friday off and partial remote (current). Moving now would mean at least a year or two of living in that area without a social support network.


Hello all you fine people! I've been recruited to another organization (public sector, local government in a different state). It would require a move away from family for a couple years, until they're ready to move near me. However, there is another opportunity coming soon with my current org (also public sector, local government) .


-Few facts about me:
-Mid 30's, 10 year public sector data analyst (same org), make $44/hr (closer to $46/hr after some additional premium pay, etc).
-Vested in pension and stand to make $1700/month as it stands now, earning more if I stay longer.
-Friends have all left the area, but family is still closeby. Folks and I hope to move to a new area to stay close together within the next few years. The most likely candidate is the area the other position is in.


-Current position- hybrid schedule, 2-3 days in office each week, plus every other Friday off. Healthcare 100% covered, pension, plus 401k w/employer match.
-Employees partially fund the pension, and we pay social security/ medicare taxes, so that's a bit more out of our paychecks.
-Maxed out in my classification, so I'll only get COLAs unless I get the new position.
-I have a lot of vacation saved (over 400 hours) and earn 6 hours every pay period.


-Potential new job in current org (different department)- obviously same benefits, same schedule, same hybrid schedule.
–New pay range would go up to 120k per year, 5% bump on current pay to start.-I know the manager and get bonus points on my application for being an active employee. Work is very similar to what I already do, supporting the same application.
-Obviously, no guarantee that I would get it.



-Out of state: very similar position, with a pay cut (down to $36/hr to start)
-Lower taxes, lower cost of living and the pension is 100% employer funded. No social security. After taxes, take home pay is basically the same as current (due to high taxes here and employee contributions to retirement)
-5 day a week schedule, but nearly 100% remote. Can be called into office at times, meetings, etc. A move is still required for residency requirements.
-Healthcare: several years of high deductible plan before being put on the regular plan.
-Less vacation time, not allowing new employees to use it during the probation period.
-No 401k with match, but does have 457b plan.

IMO, you should stay in your current job for the reasons in your post that I put in bold. If you take the out of state job, you'll have to factor in the cost of moving, buying a new house, etc. Will you be able to sell your old house for enough to cover these and any other similar expenses?

Personally, I think a 401k with match is a better deal than a 457b plan since 457b plans are not governed by ERISA, and employees miss out on some benefits 401(k) participants have. For instance, it protects employees in the event a fiduciary doesn’t uphold their responsibilities or misuses funds.

Also, while you are not guaranteed getting the new (and more lucrative job) in your current org,it sounds as though your chances of being chosen for it are fairly good. Even if you don't get a chance at the current opening, surely other similar openings will come along that you as an employee in good standing would have a very good chance at obtaining.

The lag in full health coverage in the new job would be a red flag for me. Sure, you are in good health now, but what if you (God forbid) get into a serious accident or develope a costly illness before you are fully insured again? These things do happen - in fact it happened to me when I sustained a TBI (traumatic brain injury) at age 47 that my health insurance didn't fully cover. To say that I was in a world of both financial and physical hurt is putting it mildly.

Plus, why throw away all that vacation time? Being a hard worker is a most admirable quality, but everyone needs some time off now and then to recharge and recuperate a little from the daily grind. And again, what if something should happen to a family member which might cause you to need to spend time with them? I don't know if you are a male or female, but we ALL can have elderly loved ones who may need our care at some point.

Just some of my thoughts, and I do hope that whatever you decide works out well for you!

[LaKings55]

In my case, no house to sell and wouldn't be buying for a while. I appreciate the input though

[Okey Dokie]

I’d wait to see if you get the new in-house position. If that falls through, then you start looking outside.

[b29510]

pay cut, depend on cost of living in new town, but still $36 is still good pay. nobody in my town makes that