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At the beginning of this month, I started my new job. For the sake of anonymity, let’s say I am working for Pied Piper. I hope there are some Silicon Valley fans in my readers ;) Since I am just starting working at this company, I do not want to disclose it on this blog. And since I am still anonymous, I am going to try to stay like this.
This is going to be a shorter post than usual. In this post, I will describe all the financial aspects of my new job. I am really happy about my new job. Working at Pied Piper is an incredible opportunity. In my field, this is a great company. And in the region where I live, they offer really good conditions. This will help me a lot in my path towards Financial Independence (FI). As you will see, there are many advantages when working at Pied Piper.
My work at Pied Piper
Pied Piper is a large corporation with one part of the company in Switzerland and another bigger one in the United States. It is a Tech company. I am going to work at Pied Pied as a software engineer.
I have just started this month working at Pied Piper. Actually, I was very lucky. I never looked for a job. I had worked with them already through research projects during my Ph.D. They already tried to offer me a position during my Ph.D. But I wanted to finish it. After I finished my Ph.D. one of my contacts inside Pied Piper recommended me for a position. I went through several hours of the interview. And I was accepted :)
It is a really great opportunity. First of all, what they are doing is awesome. They have some very interesting challenges to solve. And from what I know, they have a very good work philosophy. It is really exactly the field I want to work in. And then, the conditions are really good. For the small region I am living in (Fribourg, Switzerland), they offer much better advantages than their concurrent. They also have an office in a foreign country. This will give me the opportunity to visit them. I am really happy about this job.
But this is a money blog. So, let’s talk about money now! I have been hired with a gross salary of 118K CHF per year. The bonus (around 10% of the yearly income) is not included. But the bonus is subject to performance. And they offered me around 12K CHF of stocks, vesting in the next four years. It may not look really great for some people who have much more benefits and salary in cities like Zurich. But for me, it is a lot :) It is significantly more than what I was being paid until last month. And for what I know, in the state of Fribourg, where I live, it is a great income :)
Growing the income is one of the ways to reach Financial Independence (FI) faster. As long as I do not increase my expenses as well, this will help me reach FI faster. We will see how it goes in the coming years.
The nice salary and the nice location are not the only benefits I am going to enjoy when working at Pied Piped. You should always consider the full set of benefits when you are comparing two jobs.
Maybe the biggest of the remaining benefit is their Employee Stock Purchase Plan (ESPP). If you do not know what an ESPP is, you can read my article about ESPP. Basically, it is an offer to buy stocks of Pied Piper at a discounted price. The way the price is calculated is a bit special. But the discount is very interesting. I am definitely going to put money into this. I do not yet know my strategy about selling the stocks. Once I am decided, I am going to blog about this later. I will share the details once I know them and once I discover the system. I probably will not have stocks vesting for at least six or seven months. But I will be sure to tell you about it!
But that is not all. Pied Piper is paying for my health insurance, up to a certain amount. Since I am paying around 240 CHF per month, this will save me 2880 CHF per year. Health insurance is really expensive in Switzerland. And my insurance price is actually one of the lowest. I will probably consider moving to a better insurance with less deductible. This may save me even more money during the next year.
Another small advantage I will have is that parking is now free at my new company. My previous company was making me pay 40 CHF per month. This is not a huge deal. But this saves me 480 CHF per year!
Another advantage is that I now have access to free coffee! And it is good Nespresso coffee. This may not be an advantage since I can be a heavy coffee drinker. I may end up drinking too much coffee. But at least, I will save money on coffee. We will see about that. Before, I was bringing my Nespresso capsules to work. That means I was spending about 2.40 CHF per day on coffee. If we take 200 working days per day, that is yet another 480 CHF per year saved!
All these advantages will grow my income and reduce my expenses. Once again, this should mean that I will be able to reach FI faster.
In summary, my new job at Pied Piper is an excellent offer. This will be an occasion for me to develop new skills and learn a lot. And moreover, this will also be a very good way to accelerate my path towards Financial Independence (FI). I do not intend to scale my lifestyle too much with this new job. This means I will bring more money in. And I will have many financial advantages compared to now :)
Even though spending less money is very important if you want to reach Financial Independence, it can also help a lot to grow your income. This will speed up your path to FI.
By the way, I
stole used the idea of using a fictional company from Mr. RIP. He explained his dream job at Hooli. I encourage you to read his great posts.
What about you? Did you get a great new job Are you happy with your current job?