A good job and a good offer -- how to choose

When forced to choose between a great job with good compensation and a good job with great compensation, choose the great job -- unless you really need the money

Dear Bob ...

I have a kind of strange question, especially considering the current economic environment.

It seems that I have too many opportunities at the moment. Currently, I am in a position I like that has challenges, a great team, interesting work, great future potential, but also a moderate amount of future risk as well.

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I'm viewed as a key technical leader for my current project and some other projects, and I'm being given much larger responsibility in charting direction for the business as a whole.

Sounds great, right? The problem is that a former employer recently approached me to see if I was interested in a new position with them. I left them on very good terms and am held in high regard by them.

The new position is a step up on the technical ladder from what my job title is now, but is pretty much a lateral move from the actual work I'm doing with my current employer. I know the work they have and would like that work as well, but it's not quite as exciting and interesting as my current job.

But, as I said, the position is for the next level up from where I am now, meaning that the pay would be substantially higher. Here's the rub: If I could have the title and pay for this new job at my current job, there's no doubt I'd stay where I am. However, I am not confident that a promotion or pay increase is in the cards as I feel that since I'm already working at this level, why would my employer pay me more for the same work they're getting for less money now?

I'm nervous about going out and getting an offer for the new job and informing my current employer about the opportunity as I'm sure it would be seen as blackmail (which I guess would be what it would be).

All in all I think I'm ready to be at the next job level, but I really want to be paid at the next job level and not give it away for free. Any ideas on how to handle the situation?

- Overwhelmed by opportunity

Dear O-by-O ...

Gee, that is too bad! You're going to get sooooo much sympathy from Advice Line's readership ...

Nonetheless, I do understand your dilemma. Beyond the career decision and potential economic consequences, you've stepped into emotional quicksand. Harry Truman once called regret the most crippling of emotions, and no matter what you decide, you risk experiencing regret once you do so.

There isn't much either of us can do about that, though, other than giving you confidence you've done what you can to make a rational decision.

Here's the key for me: You said, "If I could have the title and pay for this new job at my current job there's no doubt I'd stay where I am."