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Is $10k increase worth leaving a job I just started?

  • Last Updated:
  • Sep 13th, 2021 9:10 pm
[OP]
Jr. Member
Jun 5, 2018
104 posts
60 upvotes

Is $10k increase worth leaving a job I just started?

Just started a new position 2 weeks ago as a project coordinator, working at a mechanical contractor.

A well known construction company (which I've applied to 2 months ago) has reached out to me for an interview, for which they are offering me $65k, about +18% annually.

With having only worked at my current company for only 2 weeks, is it worth switching over for a $10k increase? I've factored in commute, job description (looks to be about the same) so it should be a direct comparison.

Here are some Pro's and Con's w.r.t. benefits I'm thinking about:

Current Employer

I am making $55k, with 6% RRSP matching, and half day Fridays.

$500 lifestyle spending plan, standard personal phone & gym membership discount (Benefits after 3 months)

New Employer

$65k, (didn't ask about RRSP matching)

Bigger company, better reputation. Immediate employee benefits from day 1.

$1500 lifestyle spending plan with phone & gym discount mentioned above

TL;DR: Is 18% increase to my salary somewhat decent for me to switch over?
35 replies
Newbie
Sep 5, 2021
2 posts
2 upvotes
So you only have an interview and no job offer yet?

If you get the job offer, yes I would go for it. Don't feel guilty at all.

But the point is moot unless you get the job offer.
Deal Addict
Aug 31, 2017
4506 posts
2405 upvotes
tkl2020 wrote: Just started a new position 2 weeks ago as a project coordinator, working at a mechanical contractor.

A well known construction company (which I've applied to 2 months ago) has reached out to me for an interview, for which they are offering me $65k, about +18% annually.

With having only worked at my current company for only 2 weeks, is it worth switching over for a $10k increase? I've factored in commute, job description (looks to be about the same) so it should be a direct comparison.

Here are some Pro's and Con's w.r.t. benefits I'm thinking about:

Current Employer

I am making $55k, with 6% RRSP matching, and half day Fridays.

$500 lifestyle spending plan, standard personal phone & gym membership discount (Benefits after 3 months)

New Employer

$65k, (didn't ask about RRSP matching)

Bigger company, better reputation. Immediate employee benefits from day 1.

$1500 lifestyle spending plan with phone & gym discount mentioned above

TL;DR: Is 18% increase to my salary somewhat decent for me to switch over?
Because you’re only 2 weeks into this new job, and appears you are already having doubts, I don’t think you have anything to lose with taking the other offer. You should still clarify with them about the RRSP matching if it’s of importance to compare apples to apples.

If you were 2 years into this job, and thinking of changing for $10K, then my answer may change a bit.

All that said, it sounds like you haven’t received an offer yet form the new company, only the interview?
Deal Addict
Feb 28, 2006
3757 posts
352 upvotes
Toronto
of course switch, no brainer. why even hesitate. making an extra 10k/yr is not easy
...
Deal Addict
Jan 1, 2017
1477 posts
1341 upvotes
tkl2020 wrote: Just started a new position 2 weeks ago as a project coordinator, working at a mechanical contractor.

A well known construction company (which I've applied to 2 months ago) has reached out to me for an interview, for which they are offering me $65k, about +18% annually.

With having only worked at my current company for only 2 weeks, is it worth switching over for a $10k increase? I've factored in commute, job description (looks to be about the same) so it should be a direct comparison.

Here are some Pro's and Con's w.r.t. benefits I'm thinking about:

Current Employer

I am making $55k, with 6% RRSP matching, and half day Fridays.

$500 lifestyle spending plan, standard personal phone & gym membership discount (Benefits after 3 months)

New Employer

$65k, (didn't ask about RRSP matching)

Bigger company, better reputation. Immediate employee benefits from day 1.

$1500 lifestyle spending plan with phone & gym discount mentioned above

TL;DR: Is 18% increase to my salary somewhat decent for me to switch over?
Why not ask the new company to increase their offer?
[OP]
Jr. Member
Jun 5, 2018
104 posts
60 upvotes
MyNameWasTaken wrote: Because you’re only 2 weeks into this new job, and appears you are already having doubts, I don’t think you have anything to lose with taking the other offer. You should still clarify with them about the RRSP matching if it’s of importance to compare apples to apples.

If you were 2 years into this job, and thinking of changing for $10K, then my answer may change a bit.

All that said, it sounds like you haven’t received an offer yet form the new company, only the interview?
Correct, I haven't received an offer but just was curious about the whole situation. Yep, for sure I should ask about more details on matching. Don't really have doubts about my current position, I haven't seen too much based on the time I'm there for.
[OP]
Jr. Member
Jun 5, 2018
104 posts
60 upvotes
ProductGuy wrote: Why not ask the new company to increase their offer?
Hmm, I just don't know it would be fair for my current employer to increase it after we had agreed on a number. I guess it can't hurt to ask either?
Deal Addict
Oct 18, 2004
4877 posts
1413 upvotes
Wat
I kinda like the 1/2 day Fridays. Time is worth more than money sometimes.
Sr. Member
Jun 18, 2020
996 posts
869 upvotes
If you decide 10k isn't worth it, don't turn them down. If you interview and get offer, ask for 15k. Maybe if 10k isn't worth it, you can get them to a number that is.
Member
Nov 10, 2019
336 posts
252 upvotes
I've been in this situation before and I took the new offer without hesitation. No regrets whatsoever.
Deal Addict
Jan 1, 2017
1477 posts
1341 upvotes
tkl2020 wrote: Hmm, I just don't know it would be fair for my current employer to increase it after we had agreed on a number. I guess it can't hurt to ask either?
I am not talking about the current employer. I am talking about the potential new employer. Get them to up their offer to make it more enticing for you to move.
Jr. Member
Sep 25, 2020
183 posts
89 upvotes
Hard to decide.

Is the new company far? Or in the same area? Require to use up more gasoline?

I like the first employer. Half day fridays and 6% rrsp match is good. Seems like a laid back work environment.

Bigger company. More people. More rules. More stress. Less likely to get huge annual raise. But more opportunities to grow.
Deal Fanatic
Mar 21, 2010
6070 posts
2937 upvotes
Toronto
GTA12345 wrote: If you decide 10k isn't worth it, don't turn them down. If you interview and get offer, ask for 15k. Maybe if 10k isn't worth it, you can get them to a number that is.
Agree - there's no decision to be made right now, you haven't even interviewed. I would go for the interview and then see where you are if they actually give you an offer.

The only question right now, is: should I attend the interview? And I think the answer is yes, there's no downside and it's always good to have more info.

Everything else is just a philosophical discussion at the moment.
Deal Fanatic
User avatar
Dec 8, 2007
5172 posts
1399 upvotes
OP stop over-analyzing and focus on getting the offer.
Hydropwnics wrote:"TodayHello is a certified hustler and original gangster."
[OP]
Jr. Member
Jun 5, 2018
104 posts
60 upvotes
ProductGuy wrote: I am not talking about the current employer. I am talking about the potential new employer. Get them to up their offer to make it more enticing for you to move.
Whoops, I misread your comment. I'll definitely try that for the second interview.
Deal Guru
User avatar
Jul 12, 2003
12054 posts
4368 upvotes
Toronto
Don't feel bad about leaving for a job doesn't matter you work there for 10 years or 2 weeks. You just started anyway and they can terminate your during your probation period.

10k increase is a lot for a 55k job that you currently having, factor in other stuff are similar, it is a no brainer to jump the boat, just be prepared that this company may not rehiring you again in the future.
Retired Forum Moderator February 2009 - June 2015
Deal Addict
Sep 20, 2014
1471 posts
669 upvotes
Toronto, ON, CA
Assuming you get an offer…

Thoughts on telling the company you are leaving, not citing where, and then maybe a month later updating LinkedIn that you started at the other company?
Maybe you could tell your current employer you need to leave for personal reasons?

How does OP hypothetically tell his employer he left for money without telling them that?
Deal Expert
Aug 22, 2011
35910 posts
22035 upvotes
Center of Universe
You're actually leaving for under $10K in total compensation.
Deal Addict
Aug 31, 2017
4506 posts
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2009M5 wrote: Assuming you get an offer…

Thoughts on telling the company you are leaving, not citing where, and then maybe a month later updating LinkedIn that you started at the other company?
Maybe you could tell your current employer you need to leave for personal reasons?

How does OP hypothetically tell his employer he left for money without telling them that?
He could just wait to update LinkedIn until his probation period has passed. OP cannot control how the company reacts, he can prepare a soft landing by saying another opportunity presented itself that is more in alignment with what I’m looking for - can you match it? He’s still new, nothing to lose. People move around all the time.
Deal Addict
Aug 31, 2017
4506 posts
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vkizzle wrote: You're actually leaving for under $10K in total compensation.
Not necessarily. It’s financially better to get a good starting offer IMO as raises are sometimes not adequate. So OP could leave for $10K and then next year get a raise to $70K; whereas with the other company he could be at $60K, and even with no raise next year OP still comes out ahead. I’m only speaking monetary base salary here; but to your point you did say “total comp”

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