Should I change from a secure, reasonably well paying job to a riskier, much higher paying job?

I have tenure at a major university, which is about as secure as a job gets. However, it is also a little like being in a union where pay has little to do with job performance, and i’m pretty much plateaued.

I have an opportunity to go into a high-risk job in industry that would pay 50% to 75% more and would be about the same workload. I’d have to move my family (kids, ages 8, 7, and 6). I would be moving to a much larger city where there are some fallback jobs.

What are your thoughts? Have you faced a similar situation?
Thank everyone for their thoughtful advice so far.

I should add that

*i’m 34 years old (i finished PhD at 26 and have been out 9 years doing research and teaching).

*the cost of living is comparable in the two cities (though the new city is bigger, the suburb i’d live in is one of the top ten cities)

*my family isn’t that happy where we are now, it isn’t bad, just average

Among other things that you need to consider, such as would your family be as happy as the are now – big city life is a Whole lot different!!

But you need to do some appropriate research on the internet and compare the ‘cost of living’ differences between where you are not, verses what it will be at the area you are moving to.

That could be a Big consideration. A 50 – 75% pay raise is not worth it if the cost of a house is 100%, or more, than what you are paying for now – comparible house! That will blow the advantage of the raise – and you are ‘assuming’ the amount of the pay raise, in this Tight economy, it is an ‘employers’ buying market. They ARE low balling everyone now a days. There are problem 20 people with equal qualifications for each job. They are going to pick the one that can do the job, and who they can get for the least amount of money – Fact!

Also, look around – Now is NOT the time to be changing jobs, Especially one where you have security!!!!!!!!

STONGLY suggest you reconsider, in the mean time, research the New skills that you will need for this job that you want to ‘eventually’ move into. Even check with some of the various employers who are In the industry that you would like to move to. Find out from them Which special skills would they like for the ideal candidate to have when they come into the door.

Then, try to prepare yourself to become educated and Skilled to a high degree in those areas – then when you do decide to make the move ‘in the future’, maybe 3 – 5 years from now, Your qualifications will help put you towards the Top of the candidate list.

Remember, a security job can be worth a million dollars in this High risk job market and economy.

I read yesterday in a high profile publication (can’t remember which one), that a highly paid manager/executive who Was making a little over $100,000 a year, was Now working at a $12 per hour job, cause even with his experience, he could not find a job.

In 2003, I, as a telecommunications project manager and engineer with over 25 years experience, and a BBA and an MBA, ‘I’ made $98,000 per year, plus a company car to use 100% of the time. I, along with 20,000 other managers (Verizon) that year were laid off.

I Had to self contract my skills for 2 1/2 years – made Good money ‘when’ I worked, but I might not work for 45 to 90 days at a time.

Finally, I found a full time job, making $45,000 per year. After 2 1/2 years doing that job, I had to quit in July of last year due to health reasons.

Lastly, if you are old enough to be teaching college with tenure, that means you were at least 25 – 30 when you finished your degrees, then most tenured positions take 15 – 20 years to get – so my guess is the your are 45 – 50 years old. Take my word for it – That age range is going to put you at the Bottom of the interview opportunities – NOT a good age to be. Every year additional is going to make it harder.

At these ages and above, employers want to pay you only 1/2 to 2/3 of what you are use to getting – partly due to the fact that they can hire a new, ‘young’ person right out of school, for 1/3 or 1/2 of what an ‘experience’, highly skilled 40 + year old person.

I Am stating the facts, and yes, I am mad and frustrated about it all – but so are Millions and millions of others – We ‘experienced – older’ people are not going to change it.

Just do Whatever you are going to do – With Your Eyes OPEN!!!

Tobit Harvey Show-”Gettin’ Paid, Stayin’ Alive…High Risk Days On the Job!”

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