Help me think this through. This is obviously assuming I get offers from both jobs.
Job A) $30,000 Same benefits - state retirement plan, which would carry over what I have now, no matching. Tuition assistance (I'd like to finish my MPA) Parking is $40 and complicated No room for upward movement. Great atmosphere, small office, with a window.
Job B) $30,000 - $35,000 depending on what they offer Same benefits - except they don't have the state retirement plan which I have now, so I will lose what I have put in the last few years. They do have a retirement plan and match what you put in after 1 year of employment. No tuition assistance Free parking and parking is not an issue Lots of room for upward movement and I could see staying here a very long time, most people I talked to have been there and long time and keep passing up opportunities to move because they like it so much. Free sporting event tickets, opportunity to travel to Big12 type events for free, including travel. (I love sports, but I'm not a crazy fan) No window and working in an open office floor plan Much larger environment, a lot younger, which would probably be fun. Must wear purple every single day and I don't own that much purple.
I'd pick Job B with no hesitation, mostly because of the possibility for advancement. If you plan on working a long time (meaning, no plans to become a stay at home mom or wife), you don't want to be stuck in a $30k a year job and not be able to advance within the company.
I can't imagine that you would lose the money you have already put into your state retirement plan. If so, that is the shittiest retirement plan ever. You may lose the money that the state has contributed as a match if you are not vested, but the money that you have actually contributed from your own earnings can be rolled over to a different account.
Hmm. I would think job B simply because it sounds like more room for growth. I also think that working with a lot of different people is fun and especially if they are around your age. Since you'll be new to the area and starting over with social stuff, I think that would be a better fit for meeting people.
The wearing purple thing every day is weird, though. How much purple? Purple is my favorite color and I own several purple things, but I wouldn't want to be stuck wearing the same color every single day, and some things clash with purple and I wouldn't want to totally eliminate them from my wardrobe. This is kind of minor I guess, though, unless it means purchasing a whole new wardrobe I guess. Could you just wear some purple accessories or something simple that won't cost much to accumulate?
Also, I know nothing about state retirement plans, but I thought it was pretty much true anywhere that whatever YOU put in, you get to take with you when you leave. It is just the employer match that they can take back. Is that not the case for state jobs? How much do you have in your retirement - enough that you'll lose a significant chunk of money or are we talking a small amount to begin with?
Well Job B sounds like it is working for the best University ever. So I vote them!
How different are these areas? Do you prefer one location over the other?
Same University for both Just different departments if that makes sense. I spent Monday evening down in Aggieville and thought of you. If this all works out you'll have to come hang out with me there. I'd forgotten just how much I love there.
I think job B sounds better, but how much retirement money do you stand to lose if you take it? And how much will it cost to finish your MPA, and how much would tuition assistance pay?
From what you've posted, the atmosphere for job B sounds more interesting/engaging. Would you basically be starting from scratch with retirement? How significant is what you're losing?
Hmm. I would think job B simply because it sounds like more room for growth. I also think that working with a lot of different people is fun and especially if they are around your age. Since you'll be new to the area and starting over with social stuff, I think that would be a better fit for meeting people.
The wearing purple thing every day is weird, though. How much purple? Purple is my favorite color and I own several purple things, but I wouldn't want to be stuck wearing the same color every single day, and some things clash with purple and I wouldn't want to totally eliminate them from my wardrobe. This is kind of minor I guess, though, unless it means purchasing a whole new wardrobe I guess. Could you just wear some purple accessories or something simple that won't cost much to accumulate?
Also, I know nothing about state retirement plans, but I thought it was pretty much true anywhere that whatever YOU put in, you get to take with you when you leave. It is just the employer match that they can take back. Is that not the case for state jobs? How much do you have in your retirement - enough that you'll lose a significant chunk of money or are we talking a small amount to begin with?
From my observations yesterday, a purple scarf or necklace would work.
My state requires 5 years for you to be vested, or else you lose what you have put in. My employer/state doesn't put anything in.
I'd also say Job B even if you lose a little retirement money up front. If you like it and stay there for a long time, you could make up for that loss with their match. It sounds like a better environment with more possibilities.
From what you've posted, the atmosphere for job B sounds more interesting/engaging. Would you basically be starting from scratch with retirement? How significant is what you're losing?
I would lose $2,500 I think, yes, I know I should know for sure. I would be starting over retirement wise.
Hmm. I would think job B simply because it sounds like more room for growth. I also think that working with a lot of different people is fun and especially if they are around your age. Since you'll be new to the area and starting over with social stuff, I think that would be a better fit for meeting people.
The wearing purple thing every day is weird, though. How much purple? Purple is my favorite color and I own several purple things, but I wouldn't want to be stuck wearing the same color every single day, and some things clash with purple and I wouldn't want to totally eliminate them from my wardrobe. This is kind of minor I guess, though, unless it means purchasing a whole new wardrobe I guess. Could you just wear some purple accessories or something simple that won't cost much to accumulate?
Also, I know nothing about state retirement plans, but I thought it was pretty much true anywhere that whatever YOU put in, you get to take with you when you leave. It is just the employer match that they can take back. Is that not the case for state jobs? How much do you have in your retirement - enough that you'll lose a significant chunk of money or are we talking a small amount to begin with?
From my observations yesterday, a purple scarf or necklace would work.
My state requires 5 years for you to be vested, or else you lose what you have put in. My employer/state doesn't put anything in.
That's so weird that they would take your money.
If there is no match from your employer, I'd stop putting anything into a 401k and start putting it into an IRA in that case. That way if you leave jobs again you can take your money with you. Without an employer match, I see zero benefit to putting your money into an employer plan.
I think job B sounds better, but how much retirement money do you stand to lose if you take it? And how much will it cost to finish your MPA, and how much would tuition assistance pay?
Tuition assistance would pay for 3 hrs/semester. Cost is $327.20/hr. It would cut my cost in half because I only plan to do 2 classes per semester, that is all I think I can handle.
Hmm. I would think job B simply because it sounds like more room for growth. I also think that working with a lot of different people is fun and especially if they are around your age. Since you'll be new to the area and starting over with social stuff, I think that would be a better fit for meeting people.
From my observations yesterday, a purple scarf or necklace would work.
My state requires 5 years for you to be vested, or else you lose what you have put in. My employer/state doesn't put anything in.
That's so weird that they would take your money.
If there is no match from your employer, I'd stop putting anything into a 401k and start putting it into an IRA in that case. That way if you leave jobs again you can take your money with you. Without an employer match, I see zero benefit to putting your money into an employer plan.
It is a required 6%. It's not a 401K or IRA, totally different. No way to opt out.
Post by SusanBAnthony on Oct 31, 2012 9:58:01 GMT -5
The parking, retirement, and window would not sway me.
The opportunity for advancement, coworkers, and tuition would. So for me it would come down to whether you would really go back to school, and how much more you would make with a masters.
I'm guessing where you are based on what you posted. Here's some info I found:
If you're not vested, you need to withdraw within five years.
You can withdraw after 31 days.
If you withdraw, a direct rollover is the best way to avoid federal taxes and penalties.
And: If You Are Not Vested You are not guaranteed a retirement benefit. You need to withdraw your account within five years. After five years, your contributions stop earning interest and you forfeit your service credit.
If you do not withdraw or retire and you return to employment within five years, you will immediately become an active member again and keep your service credit.
I really think you need to check your info on your retirement.
Thank you. I talked to our plan administrator and he said I will just lose it. I will do some more research.