need your opinion:jobs/decsions/money/happines...

[97tbird]

scenerio:
wife and I are both in pharmacy school: she finishes in May. I finish in 2 yrs. all the schooling for both of us are thru financial aid. (about $90k for each in debt, in other words).

now, wife has an offer for a retail pharmacist job which pays $120k/yr at Kmart (+ sign on bonus), which she has worked for about 17yrs as a tech/intern; meaning: she has great experience in retail pharmacy, but doesn't really enjoy it.

but: she has another offer from a hospital, for a more clinically involving job, which pays about $40k less than the retail job (optimistic here, it could even $50k less).
she likes this one better because she enjoys working in a clinical setting, it gives her more satisfaction, and lets her uses her real pharmaceutical skills, and not just "stand behind the counter and sell drugs". (all this she experienced during her clinical rotations, and she feels this is the ideal job that will make her happy; she hates retail now)

so, she wants to take the 2nd job; I thought: because we're both so much in debt, and especially with the recession etc, perhaps she can work the higher paying job for 2 yrs, earn a bunch, pay off (at least part of) the loans slowly/fast (you can take as long as you want to pay them, but they do accumulate interest), and then when I get out in 2 yrs, and start working as a pharmacist, she can get the dream/clinical job that she wants.
But she thinks she will lose the chance and that she will never be able to find the same type of job again.

what do you think?
she should:
A) take $40k/yr less and go with the job that makes her immensely happy and satisfied.
B) take the higher paying job for 2 years, reach a financially "safe" level, and then look for the other type of job after I get out of school, 'cause then I'll have pharmacist salary, too.

please post your opinion...just wanna see what you guys think.
also consider that the differences in pays may not be the same after tax. (because more pay=more tax?)
also : she had already said "yes" to the retail job (but not officially signed the contract); if she goes with the clinical job, she will have to take her "yes" back from district manager for that chain.

 

[ThirdeYe]

I would gladly take less pay to be happier. I went into college as a Computer Information Systems major, and it turned out I didn't really like it at all. I couldn't see myself doing that as a career and being miserable, even though it paid really well and jobs were in high demand. I could see doing that higher paying pharmacy job until her debts are paid off and more financially stable, then finding something else more satisfying.

 

[Pablo]

I say go for the money. Debt sucks. (besides it's lousy to pull out after accepting, but companies do worser junk to people...)

I'm obviously giving you a quickie answer - sounds like with just the 2 of you, the world is your oyster.

Better jobs will always be out there. Happiness can be found outside of work. Ask me how I know!

 

[addyguy]

Life is too short to make all your decisions on money. She should work the job she enjoys, and be happy going to work, instead of 'slaving away' for just a large paycheck, and completely burn-out in 3-5 years, and feel like its not worth it. Health care is a field that will, especially in coming years, be somewhat immune to regualr economic cycles, so both of you can change jobs at will when the time comes.

Just my opinion......

 

[Quattro Pete]

As long as she's not going to be miserable, I'd say go for B) for 2 years. With more experience on her resume, she may be able to get a little more money once she switches positions, too.

But if B) means she'll be coming home crying in your sleeve every night, then it's not worth it. It's going to put a strain on your relationship, and that is not worth the extra $80k (probably $60k after tax) or any amount for that matter.

 

[Cutehumor]

take the higher paid job. pay off debt in a few years, then get the job that makes her happy. how can you be happy with all that debt and interest over your heads???

 

[Shannow]

I'd really like to say take the job that she'd love.

But I loathe owing people money, so my own comfort would be best served in getting rid of debt.

 

[97tbird]

Originally Posted By: Quattro Pete
As long as she's not going to be miserable, I'd say go for B) for 2 years. With more experience on her resume, she may be able to get a little more money once she switches positions, too.

But if B) means she'll be coming home crying in your sleeve every night, then it's not worth it. It's going to put a strain on your relationship, and that is not worth the extra $80k (probably $60k after tax) or any amount for that reason.


QP; the difference will be about $40k, not $80/60k.
retail: $120k/yr, and clicnical/hosp: about $80k/yr (max), so difference is about $40k roughly.

 

[Bill in Utah]

I'd stay with the $$$ for now and get out of debt. (so before anything else, you guys are $180k in debt in student loans?)

As someone who is not happy with my job, I stay there for 2 reasons, the $$ (I make $10-15k more than any other place around here) and I have a job for as long as I need it. (it is recession proof)

Since health care is on the front burner, I'd be REAL concerned with some type of government health plan and that may REALLY screw you guys both in pay and jobs.

With some of the folks running for Prez and with our Current congress I think health care is in for real trouble.

You need to get out of debt first then once that monkey is off your back, then look at what may be coming down the line.

Sorry to be all gloom and doom, but the brown stuff is going to hit the fan hard.

We are going to be in some serious trouble. PLAN and HOLD on.

Bill

 

[VeeDubb]

Two questions:

1) Are the interest rates on your debts fixed or adjustable?

2) Have you guys spoken to people working on the clinical side about her prospects of getting back in after retail?

 

[CivicFan]

Originally Posted By: Pablo
I say go for the money. Debt sucks. (besides it's lousy to pull out after accepting, but companies do worser junk to people...)

I'm obviously giving you a quickie answer - sounds like with just the 2 of you, the world is your oyster.

Better jobs will always be out there. Happiness can be found outside of work. Ask me how I know!


I second that.

 

[Quattro Pete]

Originally Posted By: 97tbird

QP; the difference will be about $40k, not $80/60k.

I was giving you 2-year totals, cause that's how long she's planning to stay in that (B) job.

 

[97tbird]

ahh gotcha. Thanks.

 

[Pablo]

Originally Posted By: VeeDubb
Two questions:

1) Are the interest rates on your debts fixed or adjustable?

2) Have you guys spoken to people working on the clinical side about her prospects of getting back in after retail?


Veedubb always asks worthy questions!!!

Indeed sometimes clinical places sneer at retail/industry.......

I thought student loans are fixed, but somehow float (maybe fixed 6 months after leaving school)....don't remember.

 

[NJC]

Take the job that she would be happier. Having a job that is satisfying, compelling and a passion, cannot be equated with any amount of money.

 

[02zx9r]

i always go for happiness.

will i enjoy getting up and going to work everyday? will i have job satisfaction? etc....

 

[Al]

Might be worth going for the lower paying job..but then cut down your home expenses like [censored]. If she takes the higher paying job you'll windup spending more. Its human nature.

 

[ikeepmychevytoo]

The happiness from the better job is far from a childish whim as far as I can get... It looks like a job that utilises your assets better. Think utilizing your assets like getting back your money that you had lended to the university. So, eventhough pays less initially it is a investment for the long run. Since this is not an anytime-you-like kind of opportunity, and if the debt conditions bites in the short run I'd rather drive a Pinto as necessary but get the universally better job instead of the financially better one.

This is not a happiness vs. obligation dialect.

edit: also, never underestimate the infringing costs of being un-happy

 

[rpn453]

My girlfriend is also a pharmacist, working at the local university for considerably less money than retail pharmacy would provide her because she hated working retail. I quit my oilfield job last year because I preferred a regular engineering job that pays about 1/3 as much. Neither of us were capable of suffering just so we'd be wealthier in ten years. But neither of us are anywhere close to being in debt. It's possible that would motivate us to seek more money, as we both despise debt.

 

[Johnny]

Originally Posted By: NJC
Take the job that she would be happier. Having a job that is satisfying, compelling and a passion, cannot be equated with any amount of money.


Totally agree. You cannot buy happiness.