Would you quit your current job and take another job in a completely different industry for double the salary?
I was offered a position with a buddy of mine in the Natural Gas industry working on the job site in a non labor intensive role. The role would require managing equipment coming on and off the job site and confirming project completions.
The position is a 60-80 hour a week gig with pay in the in the high 100K area with most of my personal expenses paid for. This is easily doubling my current salary.
The part I would like some of your input on is what does this do to my long term job prospects if a year or two from now (after I have a nice nest egg of cash) when I want to reenter the real estate market.
For guys hiring, what are your thoughts of a guy quitting his job in real estate, taking a job in the middle of nowhere in an unrelated industry, collecting a $175K paycheck, and then trying to reenter real estate?
FWIW, I am a couple years out of college and currently work as an Asset Manager.
Can you use that money to fund a graduate degree and make a spectacular reentry?
Have fun in North Dakota.
I do not work in real estate specifically, but I would be intrigued if I received a hypothetical resume from someone that consisted of 1) Couple years as an asset manager, 2) Two years in an "off-the-beaten-track" job in Natural Gas.
Opportunities like this do not come around often. The worst case scenario is you don't enjoy the nature of the work, but at least you will have saved up a significant amount of money in the process and have an interesting story to tell when you re-enter real estate (or possibly grad school as someone else already mentioned). I'd say go for it.
Hell fucking yeah, you can rebrand back to finance at an MBA program if you like.
100% raise is a sweet deal
I messaged you.....are they still hiring?
If you're actually interested in this sort of thing, this might be a good read for you: http://www.jobsnd.com/sites/default/files/oilfield_employment_guide.pdf
(I still have absolutely no clue about the "what" or "where" regarding OP's plan, but I'd say North Dakota or the Canadian Oil Sands are both pretty good guesses.)
Brah, just combine the two and do RE up there. There's a ridiculous under supply of residential because of the flock of workers.
This may be just me but I actually wanted to get into finance because I love finance, the money was just a bonus.... so no I wouldn't. But that's just me. If you like the other job opportunity go for it.
Definitely sounds like something cool to be a part of, like telling your kids old gold rush stories.
You can always spin it as you didn't like it and realized your passion was actually with real estate. I think it's do-able and it'll allow you to essentially save close to $200K (before tax) if you consider living expenses that are saved as well as all the incremental income. That's a pretty nice savings account for someone who makes roughly 90-100K/year.
If anything, I think you need to consider more carefully the toll it might take on you working in the middle of nowhere. Being in the field is not a job most people enjoy and the company is paying a premium for working in those locations for a reason. Just as an example, someone I know was getting paid 90K / year to scan and stack paperwork. Quit after a month or two. Hated it and took a job in hometown for 2/3 instead. Granted it's not the same as getting paid double, but it's something to think about and prepare yourself for mentally.
Other than that, I'd say go for it. Just don't get stuck in the money mindset that a lot of field workers end up with - make sure you always think of it as temporary and plan you're way back into real estate or anything else.
Just a heads-up, lots of these jobs really fucking blow. And I mean REALLY. FUCKING. BLOW. Not in terms of experience, but lifestyle. That's why they pay a shitload.
I had one offer in the Middle East for $70k (completely tax free, all expenses paid, 2 business-class flights+4 weeks vacation per year). I didn't take it because everyone was miserable.
http://en.wikipedia.org/wiki/International_taxation
I have a buddy doing this in mining in W. Australia. As long as you don't mind brutal working/weather conditions, it's not too bad. He seems to have fun with it. His schedule is a couple of weeks on and then a week or two off.
Don't do it unless you can imagine serving a prison term. The pay doesnt seem attractive given the hours and location. Middle of nowhere with lady 'friends' bussed in and abundant of pot still does not appeal.
Something like this intrigues me but I don't think I'd want to do it for more than 6 months.
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