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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

Asked By: Captain_Ahab_ - 3/3/2009
Best Answer - Chosen by Asker
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... More
Answered By: M M - 3/3/2009
Additional Answers (4)
In this job market I wouldn't leave anything secure. Enjoy your job security and don't worry about the pay difference. Even you said it's risky. Listen to your self.
Answered By: funinthegreat - 3/3/2009
 
I think you should take the economy and your family into consideration on this one. Security in the work-place is hard to come by. If you and your family are happy in the city you're in and are in a reasonable situation money wise I wouldn't suggest that you move.
Answered By: futuremrsbooth - 3/3/2009
 
I have faced this. For me, most of the riskier jobs didn't work out. It turned out that there were higher expectations for my performance (which was understood); and then there were even higher expectations (which I did not expect). As reference, I was a stockbroker managing consumer investments for a number of... More
Answered By: 1snowlubber - 3/3/2009
 
i think it sounds amazing, but since you're going to be moving to a bigger city, it's not tht great because bigger city mean more expenses and i would just stay where you're at! who knows, you might get promoted or something big might happen! the economy is getting better! obama knows what he is doing! obviously! so... More
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Answered By: peachesz - 3/3/2009
 
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