Submitted by pookiewook t3_zz40qs in personalfinance
I currently make $35.70/hour, and I get overtime over 8 hours per day. I’m allowed to do overtime whenever I want/need, I do not need prior approval. Additionally I get 4 weeks of paid vacation, 2 personal days, 5 sick days and I work 100% from home and have since 2018.
Because we are a small business (and I am an integral part) last year I agreed to a profit sharing bonus paid out quarterly since there was no extra $ for raises. I grossed an additional $3k in 3 quarters, 4th quarter hasn’t paid out yet. I also received a small end of year bonus.
The small business suffered a devastating flood in Sept 2021 and we are in the process of recovering. I anticipate the profit sharing to increase in 2023, but of course that isn’t guaranteed.
All told I made about $87k gross in 2022
We live in a medium to medium-high cost of living area and we have 3 children, ages 5, 3 & 3.
My spouse also works from home 100% of the time since 2018 and he just received a market adjustment to his salary this fall, he now makes about 1.85x what I make (not including overtime & profit sharing) but we work in different industries. He carries the family health insurance, I carry family dental & vision.
Both of us used to live and work in NYC, but moved several states away to Portland ME in 2018. We kept our same jobs when we moved.
My husband seems to think I can get a different job in my very niche field here, and I disagree that I can find something so flexible (my boss, the owner, doesn’t even blink if I need to take my kid to the dr, attend an IEP meeting, take my kid to weekly speech therapy, etc) that pays more and it is worth it to me to have this set up while my kids are little. I already know if I pursued the sales sector of my industry I could make a lot more $$, but I’d also be traveling quite often.
We max out our retirement savings, 20,500 each this year (neither of us have a match, he also has a pension plan), plus we max out our Roth IRAs yearly. We have a detailed monthly budget, childcare is the highest item and then our mortgage.
Our only debt is the mortgage & about $4k and 1 year of payments left on our minivan. We pay $352/mo at 3.9%
We do fine, but we wish there was extra to save (we want to renovate our 1,800sf cape to add another bathroom and bedroom and create some sort of home office area) and also to contribute to the kids 529 accounts.
edtb t1_j29bscl wrote
You can look at different jobs and openings currently it won't hurt anything. But as it seems you know the grass isn't always greener on the other side. There you may take an increase in pay but what else will you get with a different company that y don't know about yet? I considered taking a different job with a 40% raise. But after interviews and talking with different people there I decided it's not worth going to a more restrictive company. As you said your boss is very flexible. I think you'll have a hard time finding that again.