Posted by Tim Stobbs on May 15, 2015
Consulting World – Money Really Isn’t Everything (Year 7 and 8 A.D. – After Degree)
I typically find most people are not really willing to stand up for what they believe is right. They get so sucked into the game of earning more, getting more stuff that they end up in such a tight financial situation that even the thought of taking a pay cut on purpose is alien to them. I’m not one of those people.
Despite making a disgusting amount of money in my previous job. Literally some years I was making just under $90K/year with bonuses, it wasn’t what I needed at that point in my life. If you have read my previously long winded post about my first son’s birth you know he had been born 10 weeks premature and spent over 60 days in the hospital prior to coming home. After that my wife and I made the conscious choice to seek out a job closer to our families.
I did actually try and almost got a transfer within my current company at the time to a sales job in Regina. Yet I lost out in the end, since they managed to high the competition’s salesman instead. I even told the manager I understand it. The guy required almost no training as he knew the clients and all the industries…of course he was the better choice than me.
But when push came to shove and my father asked to pass along my resume to a consulting firm he knew I said sure why not. Then the next week I had a causal conversation with one of managers from that company. After that I had fully expected to go through a full interview, but instead they phoned me up with an offer. Just one problem…they couldn’t get close to what I was making now. I had to take a $20K/year pay cut to move back near my family. I signed the offer with sigh. It was only money after all and Regina at the time had fairly affordable cost of living.
The decision ended up being a good one as I also got the opportunity to work on preliminary engineering work on a clean coal project being proposed in Saskatchewan (yes, THAT project that just came online here in 2014). It was extremely interesting work and right up my alley since many of the potential technologies were based on an amine system, which I had just spent the last few years troubleshooting so I provided some more common sense adjustments to few things that would help things out when it got to being operational.
Overall I actually enjoyed the work at this job. I also made several good friends while working this job so the co-workers were excellent as well. I just hit one major problem with the job over the years….the work load was extremely variable.
How much? Imagine your worse, most busy well EVER that have that occur every few months. But then also include a few weeks here and there were you are so dead for work you are actually cleaning up all your files, your inbox gets empty and you surf the internet a LOT and still don’t have much to do. That part really sucked. I learned I don’t do boring at work….like ever!
During one of these particular low spots in work I was sent out to one of the company’s east coast offices to help them for three weeks. While I was out there I would also tour a power plant with a FGD (Flue Gas Desulphurization) system which would be a helpful bit of professional development as some of the clean coal designs we were looking at included such a treatment system.
Yet my first job out there for a week, I never met the client and I did all the work on the computer….in summary it pissed me off to no end that I could have done the entire job from my desk back in Regina. Ugh, but most managers didn’t really get working remotely yet, so I was stuck in a hotel.
In the end, I found the extreme swings of the workload frustrating to me. I genuinely prefer to have a more steady workload so after putting up with this for a few years I was in the mood to seek out something new, but I had not even starting looking for a new job when an email from my father showed in my personal email. It was a posting from his company and the job description looked like it had been written just for me. (Aside: my father’s interest in my career stems from the fact we both have the same degree, so he tends to know what I would be interested in and keeps a lazy eye out for those sort of jobs. So when he hears about one that he thinks I might like, he sends me the posting.)
I figured why not and then applied for the job. I was off to anther adventure.
- Money is nice, but don’t underestimate the value of other things like living closer to family and don’t forget the cost of living in a location matters a lot when it comes to a salary. So $70K in a smaller city may be close to $90K in Calgary after housing costs.
- Know your personal work style and make sure you gets jobs that align to that. Otherwise you will be unhappy.
- Despite the pay cut, we did just fine. We cleared the last of our student debt with the move to Regina and managed to only have a mortgage of $150,000 on the house. Which is a major reason I’m so far along as I am in my plan. I didn’t overpay on housing.