The temptation of a better(?) job

running with money
Weeks ago I was approached by a headhunter for a job at Citi bank.
The job would be a classical outsourced job from London to Budapest, in which I would do mid-office tasks related to brokers activities: booking, checking, reporting and making suggestions based on forecasts.
I had an interview with the headhunter, then I had an online personal and numerical test.
(By the way my favorite exercise: you have 9 balls, one of them is lighter than the rest. You have a classic 2 sided scale, which you can use only twice. How can you surely identify which one is the lighter ball? Took me about 10 minutes to solve… My solution / general solution will be in the bottom of the article.)
Then I had a video conference interview with a woman and a guy from London. They asked me some sweet questions on SWAPS, futures, options, derivatives… Honestly, I love finance. I know that I don’t know as much as I want to, and I told them that I do know what these are, but I am not as much familiar with them as I’d like to be.
They kept on asking, at one point, I really thought the final moment came and it’s pointless to continue.
The interview was later over and I walked home happily that I achieved to be an interesting candidate for a relatively good position at bank like Citi, for a position that can clearly be linked to finance. (My current job is also linked to finance – collection analyst – but it’s not so strongly financial.
Anyways, 4 days later my phone rang and accepted another round interview.
I would roughly get a net $ 1.400/month or $ 16.800/year for this position.
(Keep in mind we earn less in Hungary for the same job as in the western world, but we have an active state pension system (won’t get a dime from there by the time I’ll turn 70), a state provided medical system, free higher educational system and so on…
So honestly this job would mean roughly +25% more income, +55% disposable income that I can save. Tempting isn’t it?
The real bad news for me was that instead of working from 8:00-17:00 (current job), I would work from 9:00-18:00, but with usual overtime it would be rather till 19:00.
Both my current and offered job’s offices are nearby (10min by walk vs. 15min by metro – I know how the distances are great but took a lot of effort organizing my life this way).
So why do I praise this extra 2 hours free time so much? Well to me that was the decision point. I tell you why.
Right now, I do have extra time, even during my work: to arrange personal things, like phone calls or anything else that can be done in an office but is not work related. Now it is okay to disappear for 30-45 minutes then shift that time to later work time. From what I learned of the new job offer, I realized that there I would have less free time due to overtime and also during working hours.
Furthermore, I wouldn’t get paid for the overtime so actually it’s not that better of a deal at all.
Additionally, I want to get passive income or income outside my paycheck.
As from a previous post you might remember, with my family we started an apartment business via Airbnb. That will be additional income and for that I need my time.
A plus for the new job would have been that it is more linked to finance and I could improve my financial knowledge further, but the cost in time is too much for me.
I hope I am making a right decision, but in the bottom of my heart I simply know I am.
Funny, whenever I tell anyone that I am not taking the job with higher salary, they stare at me and don’t understand…
The solution for the numerical exercise: you measure 3 vs 3 balls, this way you know which 3 balls has the 1 lighter ball. If the 3 vs. 3 is equally weight then it’s in the batch of 3 you left out, if the 3 vs. 3 is not equal, then whichever group was lighter. Then you do almost the same with the 3 balls, weighing 1 vs. 1 and this way you’ll surely know which one is the light ball.