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My contract with the company I am at expired today and I was offered to come on board full time.
I will be making $16,000/year less than if I contracted souly with them for a year (which is illegal), however I won't have a $1500/month COBRA bill. They will pay for all my medical and half of the difference for the family plan, so I'm probably looking at about $200-$400/month. So that is sort of a wash.
I will be making $7000/year less than my last job. However, I had a $400/month gas budget (at $2/gallon gas). So that too is a wash.
Cons; pay cut (though my personal budget will break even) and I will have to travel more, not a lot just some.
Pros;
I found a job in this economy
I can take all the vacation I want, with no pay but hey! (they are also easy going, come and go as you like)
I am now only 5 miles from home instead of 50
They are very supportive of school (they won't pay for it, but they don't keep me from it; study at work, leave for class when I have to)
I will have cheaper health coverage
The guys I am working with are very knowledgable and good mentors
I have a private office with a door
Profit Sharing
New Industry, New Experiences
Active development of marketable skills across a wide range of industries; they'll pay for my training
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They told me that we would revisit my salary in 6 months. If we get the projects we are after I should be worth more to them. However, with things slow as they are right now they are really looking at my pay as a retainer. We have one funded project for next year, right now. And, even I would agree my time for just that project isn't worth more.
The Company: A start-up engineering consulting firm that targets ethanol and biomass facilities (fuel and food grade). We have the 2 founders who are ex-VPs from a large engineering consulting firm who had bad mojo with that companies new owner, a "retired" VP of engineering from another large engineering consulting company in the area who just works a couple of days a week but is a very good teacher (the PhD in ChemE helps), and a Engineering Manager from a large ethanol producer and an old employee of the founders, a secretary, and me.
So, 4.5 people (the old doc is the .5). I guess I can't expect to make biotech money here, especially since I'm in a new industry. I will be learning to design facilities, perform proof of concept work for VCs, and working on expert witness documents... all stuff I've never done and very marketable. Not to mention the people I am working are influential in the engineering consulting world. An MBA with this type of background will be gold, I hope.
Summary: I got a new job! Yeah!
I will be making $16,000/year less than if I contracted souly with them for a year (which is illegal), however I won't have a $1500/month COBRA bill. They will pay for all my medical and half of the difference for the family plan, so I'm probably looking at about $200-$400/month. So that is sort of a wash.
I will be making $7000/year less than my last job. However, I had a $400/month gas budget (at $2/gallon gas). So that too is a wash.
Cons; pay cut (though my personal budget will break even) and I will have to travel more, not a lot just some.
Pros;
I found a job in this economy
I can take all the vacation I want, with no pay but hey! (they are also easy going, come and go as you like)
I am now only 5 miles from home instead of 50
They are very supportive of school (they won't pay for it, but they don't keep me from it; study at work, leave for class when I have to)
I will have cheaper health coverage
The guys I am working with are very knowledgable and good mentors
I have a private office with a door
Profit Sharing
New Industry, New Experiences
Active development of marketable skills across a wide range of industries; they'll pay for my training
---
They told me that we would revisit my salary in 6 months. If we get the projects we are after I should be worth more to them. However, with things slow as they are right now they are really looking at my pay as a retainer. We have one funded project for next year, right now. And, even I would agree my time for just that project isn't worth more.
The Company: A start-up engineering consulting firm that targets ethanol and biomass facilities (fuel and food grade). We have the 2 founders who are ex-VPs from a large engineering consulting firm who had bad mojo with that companies new owner, a "retired" VP of engineering from another large engineering consulting company in the area who just works a couple of days a week but is a very good teacher (the PhD in ChemE helps), and a Engineering Manager from a large ethanol producer and an old employee of the founders, a secretary, and me.
So, 4.5 people (the old doc is the .5). I guess I can't expect to make biotech money here, especially since I'm in a new industry. I will be learning to design facilities, perform proof of concept work for VCs, and working on expert witness documents... all stuff I've never done and very marketable. Not to mention the people I am working are influential in the engineering consulting world. An MBA with this type of background will be gold, I hope.
Summary: I got a new job! Yeah!
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