Thread regarding Bank of America layoffs

In this environment? They’re measuring how much you’re willing to believe.

Check the benefits, like 401k contribution. Not sure of your age, but make sure you understand how Social Security payments are determined, based on contribution years and average salary.

The pay and vacations are red flags, I’d doubt their claims on flexibility and positive culture unless you downgraded roles to go in a new direction or something.

No.

Not just the pay cut and vacation, but did you look at the insurance? How much will that cost as well. For me, being a single, I have to be careful if I was offered that. Will their insurance pick me up right away? I won’t be paying Cobra costs that’s for sure, but I need to be protected. Think about the whole picture before making your move. Good luck!

I would take the $10k pay cut for being fully remote.

The two week vacation thing I’m not sold on, seems like a bad place to work where they don’t even pretend to care about the worker.

I say, keep looking.

Depends on how much you make and what the $10k cut equates to in overall percentage. Giving up 2 weeks of vacation time seems like the bigger drawback though. I'd either try to negotiate that piece or look for something else.

Absolutely not

"the role has more upside" - don't we all say this only to find out quickly its not the case. "We're looking to get someone up to speed for a management role" They tell people this kind of BS all time to get them in the door.

"lots of flexibility and is fully remote" -- Sounds like you're selling ice to yourself. Even saying the job is fully remote is highly questionable. Many tech companies say that today to get people in the door, 6mo later when everyone is back in the office and Covid dies down they're going to say you need to come in because everyone else is doing it. Or say Nasdaq crashes which is on deck right now, its RTO or your fired.

"Large, long time respected company" - what is this See's candy? I don't have much respect for companies other than what gets deposited in my bank account. Is it really just respected because they made you a job offer. Respected companies don't pay 10K less and give you 2 weeks less vacation.

However.. people shouldn't stay in jobs they don't like unless they have a family and obligations they need to meet. Not everything can be calculated, if you're passionate about this new job and think it will make you happier or your life better i say go for it. Just don't Jedi mind trick yourself.

Depends. 100% remote? For me, that meant somewhere in the $10,000 range all by itself, considering what is generally paid out as mileage, and how much I'd be spending on snacks and meals separately from my home budget. For me it would be absolutely worth it.

Keep in mind bank holidays. Not sure if you are using that as two weeks?

10,000 is in line with what you would pay in gas/parking/ car maintenance each year. ( basing on my drive)

Taking a pay cut right now is not recommended. Inflation is not going back down. Likely will increase until fed increases rates

How much are you currently making?

I was making about 50K 5 yrs. ago and was considering a 10K cut; and and same, less vacation days, but it was a smaller firm and have a more family -oriented environment and 8hrs. day--no checking emails or working nights and weekend, and just to get out here. Needless to say, I did not take it because of that was huge cut from my then salary. Also, I heard that when the pandemic hit, staff was cut. either voluntary or involuntary. which means either I was one of those leavers or if I'd stayed, it'd been more work.

Need to consider how much of a chunk it'll take out of your paycheck percentage-wise and the outlook and stability of the company where you're moving.

That's a huge cut. Nope, wouldn't take it.

No. Too many takeaways. Hold out for better.

Nope. Too many other options out there.