$100K Job Vs $145K Job

Chippy47 on 16/10/2018 - 22:45
Last edited 17/10/2018 - 07:12 by 1 other user

Hi all, I’m in a bit of a dilemma with my career and just looking for some opinions. I’m a tradie looking to get off the tools after 11 years and get into a more of a management position.

I’ve been offered a job as a project manager with an entry level salary of $100k plus a company car etc. And with that I will have the option of being mentored by more senior PM’s and a lot of support around me. Work on some big projects with blue chip clients and gain very good experience. And in a few years probably earn $130-140k.

My other option is to remain on the tools and earn $145k+ and do work that really doesn’t motivate me anymore. I would have to provide my own car, fuel, tolls etc. I’m pretty driven by earning decent money but I always want progression in my career and at 30 years old I feel it’s time to do this.

Most of my mates are earning $140k+ a year and I feel this is impacting my decision also. My current weekly expenses are about $700-$800 and I don’t have any loans etc.

Any advice welcome.

Cheers

Education & Work

Comments

  • Quantumcat on 16/10/2018 - 22:47
    +9

    Do what makes you happy, if it can pay your bills. Not like you're facing the choice of $40K or $140K. This should be easy.

  • Hybroid on 16/10/2018 - 22:49
    +6

    I would go the PM route even if holding a 9-5 paid (9-8 usually) job is difficult at first. The progression routes as you mentioned are very real and you can get specialism/charterships to further this.

    30 year old PM in an engineering field with approx 8 years experience is easily $150K so would expect you to achieve that within 2-3 years easy especially with prior hands-on knowledge if it's relevant.

    More stability but less flexibility. Make a pros and con list and see how you go.

  • sahh on 16/10/2018 - 22:51
    +1

    Think about the potential of each option and which one you gravitate towards. You talked about the progression with the project management role; with sticking with the tools, I assume the future potential would be owning your own business one day?

    Don’t get too caught up with what your mates are earning, it won’t matter in a few years time

  • kindshibe on 16/10/2018 - 23:09
    +6

    Consider that after tax the difference is $28k (instead of $45k). May make the decision a little easier!

    • [Deactivated] on 17/10/2018 - 00:53
      +2

      Mind you that represents nearly 100% more disposable income with $800 / week expenses.

    • [Deactivated] on 17/10/2018 - 00:59
      +11

      Consider that after tax the difference is $28k

      Do tradies pay tax?

      • 87percent on 17/10/2018 - 09:32
        +1

        they pay "tax"

    • AustriaBargain on 17/10/2018 - 04:03

      Also consider that the first 100k will also turn into 75k after tax. Having an extra disposable 28k per year would be pretty cool on top of your regular 75k after tax income.

    • HighAndDry on 17/10/2018 - 09:59

      Even less after expenses too and accounting for the perks of the $100k job.

  • Davo1111 on 16/10/2018 - 23:22
    +1

    and do work that really doesn’t motivate me anymore

    If you dont have debts, it sounds like it's an easy choice

  • hawkeye on 16/10/2018 - 23:31

    Company car would bring fringe benefits you'd be lucky to take home $1500 + super it would be pretty hard to go from 3.5-4.5K a week cash flow on to that and have to do more hours I know I couldn't do it unless I was injured.

    • Chippy47 on 16/10/2018 - 23:52

      Sorry mate, I don’t really understand your comment?

      • hawkeye on 17/10/2018 - 12:40

        I thought you were a subbie trade chippy sparky something like that obviously I'm mistaken. You'd have that sort of cash flow or more with a lot of deductions then going from that to take home 74K P.A with no deductions.

    • airzone on 17/10/2018 - 01:30
      +1

      Company pays fringe benefits tax, not the employee.

  • watwatwat on 16/10/2018 - 23:45

    Previously, on Whirlpool:

    https://forums.whirlpool.net.au/forum-replies.cfm?t=2759076

    At least you pasted it here first and whirlpool 5 mins later. You must really like us.

    • Chippy47 on 16/10/2018 - 23:53
      +2

      Just trying to get a variety of opinions that’s all!

  • Some Human on 17/10/2018 - 02:49
    +4

    Eventually you’re going to feel “too old” to be on the tools, might as well take the opportunity while it’s there.

    Poll?

  • mskeggs on 17/10/2018 - 07:34
    +7

    Looks like an easy decision to take the project management job to me.
    It aligns better with your longer term needs, and with your intrinsic motivation.

    If you discover after six months it was a poor choice, you could easily reverse it.
    If you turn it down you will always regret it.
    Over the longer term the dollars are probably in favour of the project job as the chance of injury resulting in time off work or (unwelcome) earlier retirement when on the tools is higher, and it isn't like you would be suffering financially anyway.

    Simple stuff.

  • barbarella on 17/10/2018 - 08:18
    +4

    Do the work you enjoy…money is NOT everything

    • boomramada on 17/10/2018 - 14:02

      Or do the work you have to do, then enjoy the life from the money you get :)

  • jellykingdom on 17/10/2018 - 08:33
    +3

    I work in PM Engineering field, and knowing plenty of people who have done what you did, so maybe i'm biased. But:

    • Next time it's super hot, or raining, or you're just not in the mood, you'll certainly appreciate that more office-based job
    • You aren't going to get any progression at all by doing the same thing, and staying on the tools
    • It's not like the on-the-tools knowledge is a bad thing, you'll go further now because of it
    • You can still make $150k+ in that line of work
    • You have more opportunities to transition to other types of projects - i have friends who have managed Vivid installations, IT projects, Defence projects, etc because PM knowledge is transferable
    • When you get to 50 and still on the tools, you're going to wish youd taken it easier. I know plenty of ex-tradies who have busted knees and hips and backs and it honestly doesn't look like a great job to be doing anymore, especially when i then have to ask them to clamber inside a machine to do some welding
    • Yeesh, don't worry about your mates having slightly more money than you for now! If you're so worried about the money aspect, i'm surprised you aren't also considering the higher status of being a PM and not a tradie
  • onevstheworld on 17/10/2018 - 08:59

    You should also consider longevity of your working life.

    You don't mention what trade you do, but I'd imagine a PM's work would be less strenuous on your body and allow you to work until your older.

  • Ryanek on 17/10/2018 - 09:01
    -1

    It all depends on your star sign. If you're an Aries then definitely no way.

  • cypher67 on 17/10/2018 - 09:33

    Think long term. My Father and his brother both started on the tools, my father stayed on the tools and his brother went took a slower route but into management. Now his brother earns a lot more and sits in an office all day while my father is in 60s isn't able to physically keep doing his job being forced into early retirement and constant pain.

  • Chippy47 on 17/10/2018 - 16:57

    Thank you all for your comments, much appreciated.

  • TheBilly on 17/10/2018 - 21:53

    What is your trade background? what will you be PM'ing? what level will you be PMing at (consultant, client, builder, subcontractor)? as an experienced PM in construction on the builders side you would be bumping 200k easy, but by experienced I mean 10 years in the role and you will have to be on the ball and really good and innovative, look at it as future proofing. Also, there is longevity - on the tools you could get injured or tired. Also as a PM you deal with a different category of people too, no longer getting calls from the drop kick apprentice that he is late or sick, delegate your work to the team etc. The only alternative I would consider is starting your own business in your trade, but scaling up the operations by winning big commercial contracts and having site teams that do your work otherwise PM is the way.

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