What is a Job You Love Worth?

Here's an interesting question: what is a job you love worth? At first blush, this might seem to be an easy answer ("it's worth a lot"), but when you look at a real-life scenario, it gets a little trickier.

For instance, consider this situation:

You have a job you really like. The people are great to work with, you love what you're doing, you're challenged, you're fairly compensated, and on and on. Then, another company comes along with a similar position and offers it to you. But you know that this job won't be nearly as fulfilling. There will be more hassles, the company isn't as worker-friendly, and so on. It's not horrible, but it's not the great place to work that you have now.

But the new job pays $5,000 more. Is it worth the jump? What if it's $10,000 more? $20,000 more? At some point, the jump is worth it. I'm just wondering -- what is that point?

I'm guessing that it's probably a function of how much any individual makes now. Someone who makes $100,000 a year is probably less likely to leave for a $5,000 raise than someone who makes $50,000 a year, wouldn't you think?

I'm interested in hearing your thoughts on this issue. Let me know what you think in the comments and I'll weigh in on the issue myself once everyone else has put in their two cents.

Comments

[Tyler]

I currently make about $45,000 plus a bonus.
I'd probably make the jump for $60,000 guranteed.
There are a lot of variables to consider in this question, but that is the simple answer I guess.

[Chuck]

Perhaps its easier expressed as a % of your salary rather than an actualy number. Mine would be somewhere around 25% to almost definetly jump ship.

[Thejester]

I think that if you are happy with your job, and you are capable of living within your means, moving to a less fulfilling job, no matter what the raise in pay might be, is a mistake.

Similar logic leads me to believe that sticking with a job that you do not like, no matter the pay, is a mistake.

With all of that said, I am currently working for free and finding it difficult to live within my means...

[Meaghan]

I already made the jump- in the opposite direction. Quit a job that wasn't making me happy that paid about $50K, moved to a job that is really fulfilling and makes me really happy just to be going to work each day, where I'm making about $40K. For me, it was worth $10K, or 20% of my salary... no question about it. I absolutely, 100% believe I made the right decision.

And I think in the long run, you have to consider whether your on-the-job happiness will affect your performance... which in turn will affect your ability to get promotions, raises, etc. Sometimes the lesser-paying, higher-happiness job can mean greater happiness in the long run.

[Kira]

Right now I am facing kind of a similar situation - but I am looking at it from the perspective that a different job would pay more and have more hassles, but would improve the quality of my WORK life. A lower paying job with less hassles would improve the quality of the rest of my non-work time.

[Kim]

I don't think I could be enticed away for anything less than a 50% increase. When I had a job I hated, I spent more on things to make me feel better about myself. It was subtle, but it happened. When I had a job I loved, I didn't worry so much about "things."

Frankly, I truely, deeply believe we can have both a job we love and the compensation we deserve.

[Lord]

For me, it is location, location, location. Moving costs for me would top $100k, %70k in capitalized property taxes, $30k in capital gains, and income taxes on top of those, none of which the irs considers moving costs. If moving weren't a necessity, it would have to be a lot more, possibly 50% or even 100% because it is very difficult to replace great work. More likely it would have to offer something more, a greater chance of advancement, a greater level of control, etc.

[Austin]

You should always make the jump. You never know about a job before you take it, and who knows, you make actually like the new job better. Plus if you really don't like the new job, most employers will give you your old job back.

[David Nethery]

I dont believe that it really has to do with the money. I jumped ship for a lower paying job, doing exactly, and possibly more than I did at my previous job. But the circumstances and the people that I work with are generally on the same level. But I do belive that my positive thought and meditation on my goals in life are making it even a better job than I had before. I do believe that this job will actually, manifest itself into more than I could have expected, because of my new frame of mind.