Should I take it?

J

jbenko_IHB

New member
So I was talking to a buddy of mine who needs a sr finance analyst position filled. He asked me to take it.



The job is pretty simple...cash flow analysis, data mining, reporting, presentations bla bla...



The pros: 91K/yr and the big one is health insurance (since currently I pay for my own health-insurance and I have a baby coming)



The cons: I can't day trade as actively as I would like and the job is in LA. (1hr train ride). Oh and I also can't work naked...



Now, if I didn't have access to a computer/bberry I wouldn't even think about it. But the fact is he says I'll have a computer, a laptop and a bberry. So making a couple of trades during the day won't be an issue unless I'm in middle of a presentation.



I'm just trying to weigh the cost of not being "engaged" in the market 100% of the time and not being able to literally stare at the screen vs. the benefits of a steady income + insurance and still being able to trade. I mean who knows, maybe I can capture the same gains making less frequent trades vs. current...I just don't know how to calculate the benefit vs. cost properly...



I'm leaning towards taking it I guess. If it doesn't work I can always drop it eh?
 
[quote author="blackvault_cm" date=1227075589]



Oh and I also can't work naked...



</blockquote>


Are you currently a porn star? If so, you should definitely keep your day job.
 
[quote author="Shooby" date=1227076115][quote author="blackvault_cm" date=1227075589]



Oh and I also can't work naked...



</blockquote>


Are you currently a porn star? If so, you should definitely keep your day job.</blockquote>


LOL. Funny. Nah, I wouldn't even post this if that was the case. I day trade stocks...So at times I just roll out of bed and trade.
 
[quote author="blackvault_cm" date=1227075589]So I was talking to a buddy of mine who needs a sr finance analyst position filled. He asked me to take it.



The job is pretty simple...cash flow analysis, data mining, reporting, presentations bla bla...



The pros: 91K/yr and the big one is health insurance (since currently I pay for my own health-insurance and I have a baby coming)



The cons: I can't day trade as actively as I would like and the job is in LA. (1hr train ride). Oh and I also can't work naked...



Now, if I didn't have access to a computer/bberry I wouldn't even think about it. But the fact is he says I'll have a computer, a laptop and a bberry. So making a couple of trades during the day won't be an issue unless I'm in middle of a presentation.



I'm just trying to weigh the cost of not being "engaged" in the market 100% of the time and not being able to literally stare at the screen vs. the benefits of a steady income + insurance and still being able to trade. I mean who knows, maybe I can capture the same gains making less frequent trades vs. current...I just don't know how to calculate the benefit vs. cost properly...



I'm leaning towards taking it I guess. If it doesn't work I can always drop it eh?</blockquote>


I would take it. But I wonder if your wife's pregnancy would be considered a pre-existing condition. But healtcare is a must have.

One of kid costed half million at Stanford(child is healthy now) but the circumstance of her birth was a bit scary. I was doing consulting work but took a low paying job, comparing to my consulting job, for the health insurance.
 
Employer based health insurance is Guaranteed Issue, so they would have to accept him for coverage regardless.



Unless of course, there is a benefits waiting period of say, 6 months, and she's 5 months pregnant...
 
[quote author="blackvault_cm" date=1227075589]So I was talking to a buddy of mine who needs a sr finance analyst position filled. He asked me to take it.



The job is pretty simple...cash flow analysis, data mining, reporting, presentations bla bla...



The pros: 91K/yr and the big one is health insurance (since currently I pay for my own health-insurance and I have a baby coming)



The cons: I can't day trade as actively as I would like and the job is in LA. (1hr train ride). Oh and I also can't work naked...



Now, if I didn't have access to a computer/bberry I wouldn't even think about it. But the fact is he says I'll have a computer, a laptop and a bberry. So making a couple of trades during the day won't be an issue unless I'm in middle of a presentation.



I'm just trying to weigh the cost of not being "engaged" in the market 100% of the time and not being able to literally stare at the screen vs. the benefits of a steady income + insurance and still being able to trade. I mean who knows, maybe I can capture the same gains making less frequent trades vs. current...I just don't know how to calculate the benefit vs. cost properly...



I'm leaning towards taking it I guess. If it doesn't work I can always drop it eh?</blockquote>
Take the job!!! You'll basically be in the same shoes that I'm in now....steady paycheck and benefits with the ability to day trade in the market. I'm a commercial real estate lender/relationship manager so my schedule can be fairly flexible. There are days that I have to travel out-of-town or go to client meetings in their office or at the site but other than that I'm either at home or in the office with access to a computer. I normally get in to work around 10am so I wake up around 6am and watch the market till about 9am. I normally have my TDameritrade trading platform when I'm at work and follow the markets through closing. I've found that sometimes it's better to make a few trades than to overdue it.
 
Take the position. I have more than enough to support my lifestyle (and however meager it is). But insurance is a killer. My wife's insurance lapsed 1 month before I could get hers on mine. It cost nearly 6k JUST IN MEDS FOR THAT MONTH. Now imagine how much it would have cost if she attended any of her doctor visits.



-bix
 
[quote author="Shooby" date=1227076773]Employer based health insurance is Guaranteed Issue, so they would have to accept him for coverage regardless.



Unless of course, there is a benefits waiting period of say, 6 months, and she's 5 months pregnant...</blockquote>


I know from past experience that a pregnancy was considered pre-existing condition for one parent's insurance but it was covered under another parent's insurance. However, it depends on what doctor is picked in the emergency room, even with health insurance you could go broke paying for the non-deductible.
 
BV,



What!

Don?t just roll over like that man.

You might know day trading but you need a lesson in marketing.

Don?t just jump at any offer like that.



You need to make them realize if they want the best, it?s going to cost them.

That firm needs to pony up for your services.

Here?s what I?m talking about.

A fat expense account is a must.

Corner office preferably, under no circumstances will you sit in a cube.

You?re going to need an advance on salary for a new wardrobe.

Bottom line is they have to make it worthwhile in order for you to take the job.

Good luck!
 
[quote author="tenmagnet" date=1227077766]BV,



What!

Don?t just roll over like that man.

You might know day trading but you need a lesson in marketing.

Don?t just jump at any offer like that.



You need to make them realize if they want the best, it?s going to cost them.

That firm needs to pony up for your services.

Here?s what I?m talking about.

A fat expense account is a must.

Corner office preferably, under no circumstances will you sit in a cube.

You?re going to need an advance on salary for a new wardrobe.

Bottom line is they have to make it worthwhile in order for you to take the job.

Good luck!</blockquote>
It's an employer's market now Ten. BV should definitely see if he can have them sweeten the pot, but needs to tread carefully when doing so if he wants the job.
 
[quote author="usctrojanman29" date=1227078502]

It's an employer's market now Ten. BV should definitely see if he can have them sweeten the pot, but needs to tread carefully when doing so if he wants the job.</blockquote>


That depends on how badly they want him, but for sure negotiate. I literally just hung up with a possible new employer, and I was told that my asked-for salary plus other perks (home internet and cell paid for, etc) wouldn't be a problem.



However, I have always taken to heart an article I read many years ago that suggested that the male/female pay gap was caused, in part, by womens' tendency to take whatever is offered and not negoiate.



Be reasonable, but see what you can get.



Edit to add: Working naked really is a nice perk, especially in the summertime. Lower cooling costs, FTW!
 
I have a mixed opinion about this. If I were you, I would add up what you make trading, then subtract the health ins. cost, and see if it is near the $91k. You will be able to make some trades during the day, but not any where near like what you do now. I miss so many opportunities by getting caught up in work, and I don't always have access to a computer. It sounds like you won't either. You will have to hide the razorblades after you get out of a meeting and realize that some blunderhead reported Citi is going to right off a brazillion dollars and your calls are worth nothing and you didn't get the chance to buy some puts on the way down to $4 a share. Trust me, it happens, and saying woulda coulda shoulda sucks.



Also, $91k does seem a bit light for a FA position. Are there bonuses, stock options, 401k matching, high growth potential? If there are those things, I would lean more towards taking the job.



Do you have a good accountant? Are you just taking short term cap gains hits on your trades, or have you set up a company like blackvault inc.? I don't know if you can or what you can do, so hopefully some of our resident accountants can chime in, but I think you could, and you could run the health ins. through the biz and write it off, plus a whole lotta other stuff.
 
[quote author="tenmagnet" date=1227077766]BV,



What!

Don?t just roll over like that man.

You might know day trading but you need a lesson in marketing.

Don?t just jump at any offer like that.



You need to make them realize if they want the best, it?s going to cost them.

That firm needs to pony up for your services.

Here?s what I?m talking about.

A fat expense account is a must.

Corner office preferably, under no circumstances will you sit in a cube.

You?re going to need an advance on salary for a new wardrobe.

Bottom line is they have to make it worthwhile in order for you to take the job.

Good luck!</blockquote>


I did the negotiations to an extent. I know 91K isn't much around Irvine, but it was 82K at first. Also, a regular desktop came with the job, but I insisted on a laptop and bberry mainly for additional trading venues on top of the desktop. Corner office? Hmm...not sure I can swing that one...but I do get an office.



However, the thought of traveling and loosing 1hr each way got to me. So I did negotiations based on that and got what I wanted relatively easy. Perhaps they already have employees that do this so it wasn't a big deal to them. But I was able to have the travel time (1hr there 1hr back) counted towards work. They will give me vpn access + wireless connection on the laptop. So that completely eliminates the travel issue and I can be engaged in the stock market too in the mornings. The following suprised me a bit, but he said that other seniors do it as well and I'm welcome to it too and that is to take 1 day a week and work at home.



Not sure how much more I can get thrown on top of it all and I don't want to push it. However, the big question still looms and that is how much I'll lose by not being engaged 100% in the stock market and creating time to meet with the few clients I do have; but the later shouldn't be a big deal at all.
 
[quote author="caycifish" date=1227080020]Edit to add: Working naked really is a nice perk, especially in the summertime. Lower cooling costs, FTW!</blockquote>


I can say without a doubt, this is one of the best perks ever! Not to mention that it is wonderfully hot in the middle of November. :coolhmm:
 
[quote author="WestparkRenter" date=1227077513][quote author="Shooby" date=1227076773]Employer based health insurance is Guaranteed Issue, so they would have to accept him for coverage regardless.



Unless of course, there is a benefits waiting period of say, 6 months, and she's 5 months pregnant...</blockquote>


I know from past experience that a pregnancy was considered pre-existing condition for one parent's insurance but it was covered under another parent's insurance. However, it depends on what doctor is picked in the emergency room, even with health insurance you could go broke paying for the non-deductible.</blockquote>


Well I do have health-insurance, its just that I pay for it and its expensive. So pre-condition or not, I should be able to get it through whoever if you can prove you had prior insurance. I believe pre-existing conditions only apply if you didn't have insurance at all. But I'll double check. Thanks.
 
[quote author="blackvault_cm" date=1227075589]So I was talking to a buddy of mine who needs a sr finance analyst position filled. He asked me to take it.



The job is pretty simple...cash flow analysis, data mining, reporting, presentations bla bla...



The pros: 91K/yr and the big one is health insurance (since currently I pay for my own health-insurance and I have a baby coming)



The cons: I can't day trade as actively as I would like and the job is in LA. (1hr train ride). Oh and I also can't work naked...



Now, if I didn't have access to a computer/bberry I wouldn't even think about it. But the fact is he says I'll have a computer, a laptop and a bberry. So making a couple of trades during the day won't be an issue unless I'm in middle of a presentation.



I'm just trying to weigh the cost of not being "engaged" in the market 100% of the time and not being able to literally stare at the screen vs. the benefits of a steady income + insurance and still being able to trade. I mean who knows, maybe I can capture the same gains making less frequent trades vs. current...I just don't know how to calculate the benefit vs. cost properly...



I'm leaning towards taking it I guess. If it doesn't work I can always drop it eh?</blockquote>


Black Vault, what does your wife do for a living? The reason i ask is because my wife is a corporate accountant and I am an entrepeneur. I call it Panda's diversification strategy. If my company goes under, I know that i've got Ms. Panda's health insurance and her steady income to cover by butt :). It really depends if you really love what you do as a trader. I certainly don't have that gift. Is there potential that you can make more that $91,000 in gross trading all day in your underwear? In this situation, i would tell you to keep trading in your underwear. I could never hold a corporate job, and would get fired within a week in any job working under someone else because i just have so much passion in my current vocation. I breathe and think about my work constantly because that is what i love to do.
 
[quote author="graphrix" date=1227082310]I have a mixed opinion about this. If I were you, I would add up what you make trading, then subtract the health ins. cost, and see if it is near the $91k. You will be able to make some trades during the day, but not any where near like what you do now. I miss so many opportunities by getting caught up in work, and I don't always have access to a computer. It sounds like you won't either. You will have to hide the razorblades after you get out of a meeting and realize that some blunderhead reported Citi is going to right off a brazillion dollars and your calls are worth nothing and you didn't get the chance to buy some puts on the way down to $4 a share. Trust me, it happens, and saying woulda coulda shoulda sucks.



Also, $91k does seem a bit light for a FA position. Are there bonuses, stock options, 401k matching, high growth potential? If there are those things, I would lean more towards taking the job.



Do you have a good accountant? Are you just taking short term cap gains hits on your trades, or have you set up a company like blackvault inc.? I don't know if you can or what you can do, so hopefully some of our resident accountants can chime in, but I think you could, and you could run the health ins. through the biz and write it off, plus a whole lotta other stuff.</blockquote>


You bring up some excellent points and the opportunity loss is what I can't measure. Perhaps I'll have to try it out and see.

However, if its a pure do I make more money taking the 91K + benefits vs. daytrading, the job offered then doesn't even come close. My thought is being able to retain most of what I make now + capture steady income. That way I can grow my capital at a faster rate than subtract a chunk from it to pay rent + food.



As far as 91K being low for an FA, I wouldn't know. I did some comperative searches and it came close...however I feel like a virgin to this who thing so its tough.
 
[quote author="PANDA DREAMING OF IRVINE" date=1227082715][quote author="blackvault_cm" date=1227075589]So I was talking to a buddy of mine who needs a sr finance analyst position filled. He asked me to take it.



The job is pretty simple...cash flow analysis, data mining, reporting, presentations bla bla...



The pros: 91K/yr and the big one is health insurance (since currently I pay for my own health-insurance and I have a baby coming)



The cons: I can't day trade as actively as I would like and the job is in LA. (1hr train ride). Oh and I also can't work naked...



Now, if I didn't have access to a computer/bberry I wouldn't even think about it. But the fact is he says I'll have a computer, a laptop and a bberry. So making a couple of trades during the day won't be an issue unless I'm in middle of a presentation.



I'm just trying to weigh the cost of not being "engaged" in the market 100% of the time and not being able to literally stare at the screen vs. the benefits of a steady income + insurance and still being able to trade. I mean who knows, maybe I can capture the same gains making less frequent trades vs. current...I just don't know how to calculate the benefit vs. cost properly...



I'm leaning towards taking it I guess. If it doesn't work I can always drop it eh?</blockquote>


Black Vault, what does your wife do for a living? The reason i ask is because my wife is a corporate accountant and I am an entrepeneur. I call it Panda's diversification strategy. If my company goes under, I know that i've got Ms. Panda's health insurance and her steady income to cover by butt :). It really depends if you really love what you do as a trader. I certainly don't have that gift. Is there potential that you can make more that $91,000 in gross trading all day in your underwear? In this situation, i would tell you to keep trading. I could never hold a corporate job, and would get fired within a week in any job working under someone else because i just have so much passion in my current vocation. I breathe and think about my work constantly because that is what i love to do.</blockquote>
 
[quote author="blackvault_cm" date=1227082597][quote author="WestparkRenter" date=1227077513][quote author="Shooby" date=1227076773]Employer based health insurance is Guaranteed Issue, so they would have to accept him for coverage regardless.



Unless of course, there is a benefits waiting period of say, 6 months, and she's 5 months pregnant...</blockquote>


I know from past experience that a pregnancy was considered pre-existing condition for one parent's insurance but it was covered under another parent's insurance. However, it depends on what doctor is picked in the emergency room, even with health insurance you could go broke paying for the non-deductible.</blockquote>


Well I do have health-insurance, its just that I pay for it and its expensive. So pre-condition or not, I should be able to get it through whoever if you can prove you had prior insurance. I believe pre-existing conditions only apply if you didn't have insurance at all. But I'll double check. Thanks.</blockquote>
I meant the new insurance won't take it, it has to go on the old insurance. Some do and some don't. Please check.
 
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