Submitted by frondjeremy t3_120obic in personalfinance
I (34) currently make 66k at a completely remote position in a mid cost of living area. I bought a house with my partner in 2020 and our interest rate is 2.75%. My half of the mortgage is only $600 and we have just over $200k left to pay off. My quality of life is phenomenal. I can easily pay my bills and save moderately for retirement. My job is easy and I love the team I work with. I’ve gotten excellent raises in the last two years and am now reaching the cap of my current position.
Yesterday I was offered a management position for $80-85k at the same company that would require relocation to a city 10 hours away. They would give me $10k for moving expenses and provide support and training in the new position. This would not be remote, and the circumstances would be much more stressful. The cost of living, particularly housing is much higher there and with interest rates now we would struggle to afford a house comparable to what we have now.
I would have to leave all my support systems and community. My partner would have to do the same and start fresh at a new job, probably to their detriment. They have seniority in their current position. They would also leave family they are very close to, including missing young children growing up. It’s ludicrous to consider all this for $20k right?
My only temptation is that the title change opens up a world of opportunity for my future. Managers in my field typically make $80-125k or higher, while my current role averages $40k. It would be a shitty adjustment for a couple of years that might allow me to retire earlier and have an eventual better quality of life. Thoughts?