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Job search - what a ride!

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  • Job search - what a ride!

    I'm thrilled to share I'm starting a new job after a few months of searching. It's been wild! My industry (healthcare IT) has shifted to mostly remote or hybrid/in-office over the last few years. While that's been great for increasing the size of the candidate pool for employers and available positions for a job seeker, there's a lot of disparity in pay depending on where the employer is based, which also means a lot of competition. There are more LCOL areas than HCOL areas, and I'm not getting any younger. There are lots of young/eager candidates willing to work for less.

    This was incredibly eye-opening as never before have I had such a selection of open positions to chase from so many different employers nationwide.

    Looking back, I put in more than 25 targeted applications (direct experience in the role/industry). Of those 25 applications, I'd say about 20 elicited some kind of positive response - a discussion about salary expectations, or a phone screen, interview. A good handful wanted to talk salary as the first thing, which I think serves everyone well. Not surprisingly, employers in LCOL's had a low top-end and that resulted in a few short conversations; thank you, we are way too far apart. The others had already hired their candidate or there was simply no response, i.e. it was a required posting of the position for someone internal they had already planned to hire.

    Other positions outside of industry I applied for - I was 100% iced. Ouch. The only response I got from those, if anything, was the auto-generated rejection email.

    Most interviews were done via Zoom or Microsoft Teams, with video. I became an expert at producing candidate-Barbie for those talks, complete with staged office background, interview outfit, pre-planned elevator speeches. It was exhausting!

    A few weeks ago I became very frustrated. I had received a few low offers at that point, and was considering taking one of them as I had felt the market had spoken. I had clearly set my sights too high and/or being unemployed causes employers to punch low on salary. It was almost demoralizing. My fans kept telling me to keep my chin up, hold out, and they were right. Something good came along, and it worked out.

    I've so enjoyed my time off and wish it could go on forever. But, it's time to get back to work...!
    History will judge the complicit.

  • #2
    Congrats on the new position. I hope it’s a great fit for you.
    Steve

    * Despite the high cost of living, it remains very popular.
    * Why should I pay for my daughter's education when she already knows everything?
    * There are no shortcuts to anywhere worth going.

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    • #3
      How long have you been unemployed? Congrats and glad it worked out. Fully remote?
      LivingAlmostLarge Blog

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      • #4
        Originally posted by LivingAlmostLarge View Post
        How long have you been unemployed? Congrats and glad it worked out. Fully remote?
        I was about 3 months unemployed, right in the middle of summer - could have been worse, right?! The new gig is fully remote.

        Now for the mess of personal finance I've created. Unemployment only withholds 10% tax on their payments. I'll owe some come tax season. I lost time to contribute to my 403 this year and probably won't be able to hit the max contribution. New job has a 45 day wait, and the year is ending soon. I'll make up some progress next year with the new employer's contribution matching, so that's good.

        I've informed my husband that the cook, laundry-doer, landscaper, heck, the whole crew! ...is putting in their notice and going back to casual employment status.
        History will judge the complicit.

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        • #5
          Originally posted by ua_guy View Post

          Unemployment only withholds 10% tax on their payments. I'll owe some come tax season.
          You can also send in an estimated tax payment if you prefer.
          Steve

          * Despite the high cost of living, it remains very popular.
          * Why should I pay for my daughter's education when she already knows everything?
          * There are no shortcuts to anywhere worth going.

          Comment


          • #6
            Congrats on the new job!
            The last time I made a career change I was off for about 2 months in between.
            It was wonderful and definitely was a nice break.
            Brian

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            • #7
              Pretty exciting. I hope it works out.

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              • #8
                Originally posted by ua_guy View Post

                I was about 3 months unemployed, right in the middle of summer - could have been worse, right?! The new gig is fully remote.

                Now for the mess of personal finance I've created. Unemployment only withholds 10% tax on their payments. I'll owe some come tax season. I lost time to contribute to my 403 this year and probably won't be able to hit the max contribution. New job has a 45 day wait, and the year is ending soon. I'll make up some progress next year with the new employer's contribution matching, so that's good.

                I've informed my husband that the cook, laundry-doer, landscaper, heck, the whole crew! ...is putting in their notice and going back to casual employment status.
                Could have been worse. And as for retirement contributions it's a marathon, not a sprint! I'm sure you'll be fine even with the short hiatus you experienced. Congrats on the new job!
                “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”

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                • #9
                  My only period of unemployment was back in 2000 when I left my first practice. I was also out about 3 months and loved every minute of it. It was my mini-retirement. We went to Vegas for a week and Disney World for 10 days and I sold full time on ebay during that period. I hated to go back to work. Honestly, I barely even looked for work. A job found me eventually through word of mouth.
                  Steve

                  * Despite the high cost of living, it remains very popular.
                  * Why should I pay for my daughter's education when she already knows everything?
                  * There are no shortcuts to anywhere worth going.

                  Comment


                  • #10
                    Originally posted by ua_guy View Post

                    I was about 3 months unemployed, right in the middle of summer - could have been worse, right?! The new gig is fully remote.

                    Now for the mess of personal finance I've created. Unemployment only withholds 10% tax on their payments. I'll owe some come tax season. I lost time to contribute to my 403 this year and probably won't be able to hit the max contribution. New job has a 45 day wait, and the year is ending soon. I'll make up some progress next year with the new employer's contribution matching, so that's good.

                    I've informed my husband that the cook, laundry-doer, landscaper, heck, the whole crew! ...is putting in their notice and going back to casual employment status.
                    Congrats on your new job!

                    If you have not reached safe harbor income tax withholding for the year, my suggestion would be to increase withholding from your new job (and/or your spouse's job) to reach a safe harbor (if that is possible). Taxes you pay from withholding are treated as if you have made equal payments throughout the year (even if you haven't). If you have reached a safe harbor then disregard this footnote.

                    Estimated taxes have a gotcha if you have not met a safe harbor. IRS wants you to make 4 equal payments and they penalize you if you don't. They do have a way around that for "lumpy" income, but it will make your taxes more complicated.

                    IRS Form 2210 Annualized income
                    Form 2210 is used to calculate underpaid estimated taxes and penalties for self-employed individuals. Those who didn’t withhold enough from their paycheck may also need this form. Learn more about when the 2210 form is used, how underpayment penalties work, and how to avoid this penalty in the future.

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                    • #11
                      I typically make payments because I like not oweing a ton in April. But to me anything over $10k is painful
                      LivingAlmostLarge Blog

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                      • #12
                        Originally posted by LivingAlmostLarge View Post
                        I typically make payments because I like not oweing a ton in April. But to me anything over $10k is painful
                        I guess I should clarify on my footnote above. I'm not saying don't pay estimated taxes, but rather make sure you have also met a safe harbor with withholding. (If you make unequal estimated tax payments, your taxes are more complicated at tax time. )

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                        • #13
                          Yes it does. I tend to just pay it when i realize something needs paying. It's easier honestly if you make a bunch of capital gains from selling stock to pay the government then and there.
                          LivingAlmostLarge Blog

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