What's more important, salary or job fulfillment?

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Turkish

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Mr. Pink, I thought you lived in Toronto? Unless the "nice" car is a Porsche your dad bought for you...I don't think you should have it.

Take the TTC until you're making mid-6's then do it up with the "nice" cars.

I did the exact thing to get the job I wanted about 3 years ago, took a 15K pay cut out of a non-finance related gig. 3 years goes by fast.
 
"if I took this job, I would be making about $20K less than I could with another organization in a non-finance related field"

Is that really true? I always thought that finance was one of the highest-paying fields out there. I certainly can't think of another industry where I could make more money, although I don't have any particular talents to speak of, so I may not be a good example.
 
"if I took this job, I would be making about $20K less than I could with another organization in a non-finance related field"

Is that really true? I always thought that finance was one of the highest-paying fields out there. I certainly can't think of another industry where I could make more money, although I don't have any particular talents to speak of, so I may not be a good example."

starting out this is very true...many of my friends at Kraft, GE, P&G, pharma companies were making 15-30K more than me after graduation...
 
ymichael12 Wrote:
-------------------------------------------------------
> Concerning the statement "This car is an
> investment because it will last me many years."
>
> Very rarely are cars ever investments (some
> vintage cars can be), cars are an expense. Plain
> and simple.
>
> If this new position/career path is what you want
> to do, then change your lifestyles to accommodate
> the lower salary. If you are not willing to change
> your lifestyle then it would seem pretty apparent
> that this new opportunity is not worth changing
> your lifestyle for.
>
> Many people live off much less than 50k-100k per
> year and are completely happy. Will you be?


i was going to leave it alone, but its just too good and i cant resist. i think if the pink man wants a new car, thats his own personal choice and thats the reasoning he should go with. i think its a horrible idea, but given the fact that he has to deal with the consequences (aka getting a 2nd job at a bar) then i really dont care all that much.
trying to pawn it off as an investment on a CFA message board is... sort of ridiculous. i would love to hear a financial advisor telling a client to buy a new car because... you know... its a good investment... since it lasts so long.



Edited 2 time(s). Last edit at Friday, April 13, 2007 at 01:17PM by nolabird032.
 
I also faced a similar situation. I took the pay cut, though, and I gave myself a year to even the difference. Although, my situation involved transferring from one division to the other within the same firm. I made the move because I could see the light at the end of the tunnel. I concluded that I had a better chance to move up pretty quickly in the other division if I stay focused and out-perform the other lions in this big jungle of ours.

But I agree with other users that have responded to your question, Mr Pink, to dump that car of yours, and get a cheaper one. Sometimes, you have to make sacrifices in the short-term in order to accomplish a long-term goal.



Edited 2 time(s). Last edit at Friday, April 13, 2007 at 01:21PM by Damil4real.
 
I think it's a CPA message board.



Edited 3 time(s). Last edit at Friday, April 13, 2007 at 01:45PM by Damil4real.
 
internet super highway? I thought the internet was just a bunch of tubes? I must be in the wrong one...
 
i see i started a competition of high level sarcasm...
 
Thanks to everyone who stayed on topic and provided some good advice.

Turkish, I'm actually out in the burbs a bit. And as part of my job now I am required to travel so work pays for a portion of my car. I wish it was a Porshe, but I'm not paid THAT much right now.

This whole car thing spiralled out of control. You guys are taking me too literally, but I guess the word "investment" is going to be taken seriously on a CFA board, so my bad. Obviously a car is not a good store of value, but here's my reasoning. I can spend approximately 20K on a new Civic that I don't really care for, or I can spend just under 30K on a car I absolutely love.

Now imagine 3-5 years down the road when I'm hopefully making more money. If I'm driving a Civic, I would then want a different car and I would end up losing money on selling it (pretty much guarenteed not to get full value), plus I would have paid for the most expensive part of the depreciation. Then I would spend money on a better car and have to pay it off for another 5 years. OR (as is the current scenerio) In 3-5 years time when I'm making more money I'll have a car I still love, and will no longer be making any car payments at all (except for insurance). So I'll have even more money to save up, and I will have had the vehicle I wanted all those years. Obviously the time value of money comes into play, but there's something to be said for 'enjoyment.'

I can understand everyone who is super frugal with their money. But sometimes living poor and dying rich isn't always the best idea. Sometimes its nice to splurge and get what you really want sometimes. And if for you that thing is a car, I celebrate it.
 
If given the opportunity for employment with this firm. I think I would definately take the job despite the pay decrease (again). Like some of you mentioned, it's all about the end game.

I was just really surprised at how much the entry-level finance professionals are underpaid (at least in Toronto). It's a kick in the nuts when you could be making more money working at Enterprise Rent-A-Car. It probably has some correlation to all the people doing the CFA here. Obviously too much demand for these jobs and too little supply.



Edited 2 time(s). Last edit at Friday, April 13, 2007 at 02:23PM by Mr. Pink.
 
I look at two things before deciding whether to accept an offer:

1) Compensation
2) Quality of the secretaries
 
Man, forget about car, put a bigger goal. You don't optimize your food expenses driving around city to several groceries stores, do you?
 
Turkish,

I'm hesitant to post anything too specific given all the people from Toronto on these boards. You never know, someone could end up being the hiring manager for the job, or someone close to it.

It's trading related.
 
Cool. Here's my advice, if it's trading related and anywhere near a trading floor and that's where you want to be take it.

If you prove yourself, get along with the people, and things go your way...the money will come in a hurry and the car won't be a problem.

Be prepared to pick up everyone's lunch on Fridays, and rest your liver...you'll need it.
 
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