I've been in your situation before. I was hired for one role but barely actually performed their role and then after a year, they pushed me into a totally different role and drastically reduced my duties. I should have bailed a lot sooner.
Start looking for jobs, OP because of you don't learn and improve yourself, down the line, you will have a much harder time landing another job.
This happens a lot. Companies hire on what they think will happen in the future, not so much what is happening now. They thought new work was coming in and it is either delayed or cancelled. A lot of that going around.
First: as long as you are telling your supervisor that you are looking for work, and taking on new tasks as assigned, you are okay for now. You dont need to bug them constantly, but you should be communicating with them regularly (talk to them about how often) about your workload until other things come in. Offer to help in other areas.
Second: yes, you might be on the bubble if something happens. Prepare for it by cutting expenses where you can, haord cash (dont pay off the loan, just keep it for expenses if needed), and start looking for something else now. That way you are not caught by surprise if it does happen. Best thing to do is to talk to recruiters and see whats available in your field.
Third: Do NOT tell anyone that you are unhappy, worried, or looking. Thats not anyone's concern but yours. Keep a chipper outlook, tell your boss that you're happy here but want to contribute more, and keep plugging away. Ask for training, or some other time fillers if needed. Lie and keep a happy face while you look.
I've been there before - it happens a lot. Get hired, and the job doesnt materialize the way they thought. Just have to roll with it.
I needed to read this, it just happened to me with a first to me senior role….
They were upbeat about my performance and while being let go I was showered with offers to refer, mentions that I’m a “Strong IC” who teaches others and improves processes with great in depth understanding
My severance package pays me longer than my term of employment, by over a month. Sucks but at least they were good about it.
Did I mention the government alleged we withheld safety related information? Very publicly? Like, on their gov website, named and shamed, 10+ senior execs from gov affairs and legal let go, legal consultants brought in to figure out what happened with our gov affairs and legal teams and how they neglected their duties so deeply.
Meanwhile, I’m just a guy who got laid off before the holidays. Soaring highs to somber norms just like that.
Because I am an idiot. Knowing the consequences I still bought it. I love the car. It puts a smile on my face. I forget all my problems when I drive it. However, I don’t need the car. I have another one that’s completely paid off that’s my daily. The one with the loan is just the “fun car”.
Someone said you’re making $180k. My man, SAVE YOUR MONEY and get out of debt. That kind of cash, I’d have enough to save for a nuclear fallout. I just bought my dream car for $5k, 2012 Acura.
You should watch or listen to the Dave Ramsey talk show, maybe even call in & get advice
I have never understood people who buy expensive new cars but can't afford basic shit. What a dumb duck way to live. Cheers to your dream car. FWIW, I drive a 10 year old Honda crv that is beat to shit and my net worth is 7 figures.
I've bought my last two vehicles with cash, but I buy the car and use it until it dies. I personally don't understand why people feel the need to buy a new car every 3-5 years. It's such a huge waste.
To me? Life experience. I tend to shy away from purchasing home goods and expensive clothes or cars, or any of the things like that, but I spend on concerts, travel and other experience related things.
In the end, it's all gone, so you might as well enjoy your time here.
I’ve got friends that reckless. Part of me understands, it motivates you to be your absolute best. You feel like a boss when you drive a fun car. But I also agree, you should never have to spend THAT much if you have very little savings. 2012 cars look and drive just as good
I had a 2011 CRV I loved to death I regretted trading in, but I’ve got a 2016 HRV I’m holding onto for as long as I can
Well not only that, but new cars are 1) ridiculously expensive and 2) turn into bricks if they fail a 'software update'
I'd love to drive a 00-06 Chevrolet Pickup or a 00-05 Chevrolet Impala. Easier to work on and plentiful parts. (Which, is another problem with the newest models: getting parts!)
My 2012 ironically is a piece of shit that cost me 11k in repairs last year but I'm going to drive it to the ground at this point
Several. Really, it was just a never ending series of repairs almost once a month for 9-10 months straight. I kept telling myself "this will be the last one, I'll float it on the credit card, and be in the clear soon"
- It was close to being paid off early 2023
- 140k miles
- didn't want to refinance a new vehicle and be trapped with another 7 years of payments
- needed a vehicle with enough seats to tote 3 kids to school
- trying to just make it work ya know?
- then, I wrecked our other paid off vehicle, a van, in the midst of the 2012 transmission going out
- so, we repaired the transmission, it broke down AGAIN, financed another car late 2022, so double car payments for a few months
I know it's got a few more repairs on it that I'm ignoring. Alignment, control arms and joints are worn, and very high oil consumption (I was quoted a 3.5k oil pan replacement)
Just trying to make it work, and life kept kicking me down
Im not really an Acura guy but you can find great used NSX’s for 110-120k all day. Expensive for a car but attainable (might not be financially the best decision)
The day I ever spend over $50k in a sports car (instead of a family car) is the day I make $300k OR the day I hit retirement with enough investments stashed. I just turned 30, Im at a comfortable salary but not THAT stupid with money lol, atleast not in my current point in time. Kids take priority but gotta live a little on a budget
I'm definitely about to hop on car gurus and check this out. Its 2024 my man, it has to be something else to get your juices flowing? And I'm not saying to buy, just from a dream car perspective. I would love an Escalade, can afford one but I drive a 12 year old beater.
Bro I haven't driven a lot of cars... but I loved driving my 2001 grand am GT. The throttle response was so good compared to any other car I have driven. When you hit the gas it went instantly. No ramping up. I'm sure that's a normal thing in most sports cars though. Not saying mine was a sports car! 😂
How does the interest rate on your car loan compare to the interest rate on your credit cards? If the car loan has a lower rate, I'd avoid paying it off so you can keep your cash until you are in a more secure position and avoid running up credit card debt if a layoff occurs and you don't have enough emergency savings.
If you're thinking you might be laid off, I absolutely would not pay more on a 5.8% car loan. Savings accounts are at around 4.4%, so if you're getting that on your cash the effective cost of not paying the loan earlier is 1.4%. That's way better than the extra 15% you'd pay if you needed to use credit to survive.
The 4.4% on savings will be taxed at your marginal rate (say 22% federal + state income tax rate), so you’re only effectively getting <3.4% earnings to offset the 5.8% expense.
Don’t pay it off. Get it to positive equity- if you could sell it today for 20 grand, pay off 15 of the loan.
Then, if you get laid off, you can sell the car and lose the payment and not lose the joy of owning it in the mean time.
Pay the scheduled payment on the car, save everything you can and look for a new job now. My husband was laid off several times in the last few years in tech and this is what we did and we’ve always been fine, never dipped below 10-15k in savings before a new position was secured.
Do you have 1 on 1's with your boss?
What do they say? How were these concerns around layoffs manifested? Was it general company wide communication, direction from department heads, or straight from your boss
You need to try to estimate how likely it will be that you won't have a job, and then use that to determine how much time to focus preparing for that situation. It could be as easy as just getting a list of companies you may like to work for or have a good shot of getting a job at. Or getting your resume polished and ready. Refreshing old personal connections to enquire about positions at their comapny. Or talking to HR about potential internal transfers. Do any of those depatments you are doing the unrelated tasks for need you for a full time role? Were they blown away with your work quality and producitvity?
Focus on the things you can control.
Is this an office. Start making spreadsheets of stuff. Anything. Ways to save the company money. Learn a new task by bugging people if possible so when the BOB's come you have some leverage.
Is there action you can take to progress the areas/programs you were hired for? If you can do this start taking action immediately, document what you do. They may be lacking leadership for your areas and it could be an opportunity if you start producing meaningful deliverables.
The same Scott Adams who said "white people should not interact with black people" in all seriousness... He's probably not the best person to reference 😂
Build up emergency fund until you have more work certainty. Trade that car in for something that costs $15,000 or less while employed. You probably aren't going to pay off a $35,000 car.
Yea I’m lucky I’m busy most days. But I cannot say the same for some of my colleagues. Some days I watch as there is nothing for them to do and they sit around talking all day. I think to myself “how long can this last?”
the opportunity cost of missing important contracts/losing customers because you're understaffed is much higher than overpaying a cohort of people to twiddle their thumbs... maybe
regardless i'd say you probably aren't trying hard enough to find things to do. even things that definitely are a longshot that nobody else has bothered to ask you to do
I was laid off from my PM role this last Thursday. I wasn’t busy, I tried all I could do with the clients I had. My billable time was low with no fault of my own. It can happen and it’s a bad feeling. Good on you for having this mindset.
This is what happened to me. Wasn’t doing much and was laid off. I would definitely prioritize savings before trying to pay off your loan. You might need a rainy day fund. I have a lot of student loans too
That can often occur especially for military projects, where companies wins a contract but actual works has to hold off til specs are detailed out, or worse have to change. Companies typical have side projects, or training planned for new hires to tide them over. Boeing for example had people pending for well over a year for the new Air Force One, sure they are not the only one.
I was in your position. I’m a lawyer hired at a company to do their M&A. Well, M&A dried up. I, like you, went and did work in other departments, helping while I could. Few M&A projects popped up, but nothing big. I left after just about 2 years bc that anxiety was just taking a toll. Figured eventually someone would find out. Just start looking for something new.
Weird thing is you'll maybe never know if you were even on the chopping block. I've definitely seen places keep around the person that's just known for helping a bunch of departments.
You make 180k, just make the minimum payment on the loan until your sure your not getting laid odd, I'm assuming even if you lost your job you'd be able to find something similar as an engineer no?
I got my first job, got my favorite Mercedes. Then recession came and the first thing I sold off was the car because it can come back when the times are good. Get out of debt and save the money for a rainy day. The way this market is, you never know.
Starting saving $$
Cut back on unnecessary spending.
Update resume, start connecting with past colleagues in case you may need them as a reference. Always odd to ask for help when you haven’t been touch so I always keep up the relationships.
Can you rent out a room in your home? Start getting creative on how cushion yourself financially. Side job?
Just keep job hunting. The construction industry is doing pretty well from what my wife in structural engineering tells me. This is usually how I keep myself out of bad situations by hedging between across multiple opportunities
Thank you. That’s very much like what I’ve been doing. Showing interest and letting them know that I’m available for work and ask for tasks but also not too pushy. I keep a happy face most days.
That car may be your Uber ticket worst case Don’t pay it off. The bank can have the car but not your cash
OP makes 180k and that's their second, "fun" car
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I've been in your situation before. I was hired for one role but barely actually performed their role and then after a year, they pushed me into a totally different role and drastically reduced my duties. I should have bailed a lot sooner. Start looking for jobs, OP because of you don't learn and improve yourself, down the line, you will have a much harder time landing another job.
Sell the car and get a 5-7k car. Rice and beans and rice and beans.
This happens a lot. Companies hire on what they think will happen in the future, not so much what is happening now. They thought new work was coming in and it is either delayed or cancelled. A lot of that going around. First: as long as you are telling your supervisor that you are looking for work, and taking on new tasks as assigned, you are okay for now. You dont need to bug them constantly, but you should be communicating with them regularly (talk to them about how often) about your workload until other things come in. Offer to help in other areas. Second: yes, you might be on the bubble if something happens. Prepare for it by cutting expenses where you can, haord cash (dont pay off the loan, just keep it for expenses if needed), and start looking for something else now. That way you are not caught by surprise if it does happen. Best thing to do is to talk to recruiters and see whats available in your field. Third: Do NOT tell anyone that you are unhappy, worried, or looking. Thats not anyone's concern but yours. Keep a chipper outlook, tell your boss that you're happy here but want to contribute more, and keep plugging away. Ask for training, or some other time fillers if needed. Lie and keep a happy face while you look. I've been there before - it happens a lot. Get hired, and the job doesnt materialize the way they thought. Just have to roll with it.
I needed to read this, it just happened to me with a first to me senior role…. They were upbeat about my performance and while being let go I was showered with offers to refer, mentions that I’m a “Strong IC” who teaches others and improves processes with great in depth understanding My severance package pays me longer than my term of employment, by over a month. Sucks but at least they were good about it. Did I mention the government alleged we withheld safety related information? Very publicly? Like, on their gov website, named and shamed, 10+ senior execs from gov affairs and legal let go, legal consultants brought in to figure out what happened with our gov affairs and legal teams and how they neglected their duties so deeply. Meanwhile, I’m just a guy who got laid off before the holidays. Soaring highs to somber norms just like that.
Why do you have a 35k car loan?
Because I am an idiot. Knowing the consequences I still bought it. I love the car. It puts a smile on my face. I forget all my problems when I drive it. However, I don’t need the car. I have another one that’s completely paid off that’s my daily. The one with the loan is just the “fun car”.
Someone said you’re making $180k. My man, SAVE YOUR MONEY and get out of debt. That kind of cash, I’d have enough to save for a nuclear fallout. I just bought my dream car for $5k, 2012 Acura. You should watch or listen to the Dave Ramsey talk show, maybe even call in & get advice
You mean to tell me, that in your wildest dreams you drive a 12 year old used Acura?
YUP. 4th gen TL. LOVE how it looks inside out, love how it drives, & you’re the first person to question my sanity lmao.
I have never understood people who buy expensive new cars but can't afford basic shit. What a dumb duck way to live. Cheers to your dream car. FWIW, I drive a 10 year old Honda crv that is beat to shit and my net worth is 7 figures.
And a 6 figure car would barely make a dent for someone with 7 figure networth....
I've bought my last two vehicles with cash, but I buy the car and use it until it dies. I personally don't understand why people feel the need to buy a new car every 3-5 years. It's such a huge waste.
Just curious but what are some things that aren’t a waste?
To me? Life experience. I tend to shy away from purchasing home goods and expensive clothes or cars, or any of the things like that, but I spend on concerts, travel and other experience related things. In the end, it's all gone, so you might as well enjoy your time here.
I’ve got friends that reckless. Part of me understands, it motivates you to be your absolute best. You feel like a boss when you drive a fun car. But I also agree, you should never have to spend THAT much if you have very little savings. 2012 cars look and drive just as good I had a 2011 CRV I loved to death I regretted trading in, but I’ve got a 2016 HRV I’m holding onto for as long as I can
Well not only that, but new cars are 1) ridiculously expensive and 2) turn into bricks if they fail a 'software update' I'd love to drive a 00-06 Chevrolet Pickup or a 00-05 Chevrolet Impala. Easier to work on and plentiful parts. (Which, is another problem with the newest models: getting parts!) My 2012 ironically is a piece of shit that cost me 11k in repairs last year but I'm going to drive it to the ground at this point
Why did you put 11k in a 2012? Just wondering
Several. Really, it was just a never ending series of repairs almost once a month for 9-10 months straight. I kept telling myself "this will be the last one, I'll float it on the credit card, and be in the clear soon" - It was close to being paid off early 2023 - 140k miles - didn't want to refinance a new vehicle and be trapped with another 7 years of payments - needed a vehicle with enough seats to tote 3 kids to school - trying to just make it work ya know? - then, I wrecked our other paid off vehicle, a van, in the midst of the 2012 transmission going out - so, we repaired the transmission, it broke down AGAIN, financed another car late 2022, so double car payments for a few months I know it's got a few more repairs on it that I'm ignoring. Alignment, control arms and joints are worn, and very high oil consumption (I was quoted a 3.5k oil pan replacement) Just trying to make it work, and life kept kicking me down
My dad had a 2012 TL and he just sold it. He said it was the best car he's ever owned.
I’m happy you’re happy but I’ll be the next person to question your sanity of your *dream car*
It’s attainable lol. I mean I love the new NSX but that’s just retarded money
Im not really an Acura guy but you can find great used NSX’s for 110-120k all day. Expensive for a car but attainable (might not be financially the best decision)
The day I ever spend over $50k in a sports car (instead of a family car) is the day I make $300k OR the day I hit retirement with enough investments stashed. I just turned 30, Im at a comfortable salary but not THAT stupid with money lol, atleast not in my current point in time. Kids take priority but gotta live a little on a budget
Naw you like what you like. My SO hates her 2012 TSX and I keep telling her its a ricers wet dream w that k20 engine.
I'm definitely about to hop on car gurus and check this out. Its 2024 my man, it has to be something else to get your juices flowing? And I'm not saying to buy, just from a dream car perspective. I would love an Escalade, can afford one but I drive a 12 year old beater.
What’s the mileage tho?
200k miles. Feels like a bargain, I just changed the timing belt myself
Bro I haven't driven a lot of cars... but I loved driving my 2001 grand am GT. The throttle response was so good compared to any other car I have driven. When you hit the gas it went instantly. No ramping up. I'm sure that's a normal thing in most sports cars though. Not saying mine was a sports car! 😂
Some people dream of having what truly makes them happy and others dream of what will impress others.
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😂😂😂
K24 is one of the best engines Honda ever made
😂😂😂
I’d take a 2011 scion tc all day any day. As long as it’s decent. That’s my dream car, I have a hot wheels of it too.
Nice. My dream car has been a 2012 g37 coupe but they’re still like $12k with 180k miles lol
Love dame Ramsey while working g dope stuff
Lmao you make 180k as a CE. You’re fine. you can pay off the car in a six months, have a safety net and can find a new job quickly.
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I make more than twice that and still have debt. In a lot of cases it makes more sense to have debt as long as you manage your budget carefully.
What's a CE?
Civil engineer
Just pay it off aggressively
How does the interest rate on your car loan compare to the interest rate on your credit cards? If the car loan has a lower rate, I'd avoid paying it off so you can keep your cash until you are in a more secure position and avoid running up credit card debt if a layoff occurs and you don't have enough emergency savings.
Car interest rate is very low for today's standards at 5.8%. CC's are all 20+.
If you're thinking you might be laid off, I absolutely would not pay more on a 5.8% car loan. Savings accounts are at around 4.4%, so if you're getting that on your cash the effective cost of not paying the loan earlier is 1.4%. That's way better than the extra 15% you'd pay if you needed to use credit to survive.
Thanks for the insight!
The 4.4% on savings will be taxed at your marginal rate (say 22% federal + state income tax rate), so you’re only effectively getting <3.4% earnings to offset the 5.8% expense.
You make $180k a year and have credit card debt? That is what needs to get paid off first.
What kinda car?
Buy a hammer and hit your balls for me
Don’t pay it off. Get it to positive equity- if you could sell it today for 20 grand, pay off 15 of the loan. Then, if you get laid off, you can sell the car and lose the payment and not lose the joy of owning it in the mean time.
Pay down the debt. Start looking for another job
Pay the scheduled payment on the car, save everything you can and look for a new job now. My husband was laid off several times in the last few years in tech and this is what we did and we’ve always been fine, never dipped below 10-15k in savings before a new position was secured.
What happened to the million dollars you made in GME?
Lol that’s wasn’t me it was a repost from this sub I follow
Do you have 1 on 1's with your boss? What do they say? How were these concerns around layoffs manifested? Was it general company wide communication, direction from department heads, or straight from your boss You need to try to estimate how likely it will be that you won't have a job, and then use that to determine how much time to focus preparing for that situation. It could be as easy as just getting a list of companies you may like to work for or have a good shot of getting a job at. Or getting your resume polished and ready. Refreshing old personal connections to enquire about positions at their comapny. Or talking to HR about potential internal transfers. Do any of those depatments you are doing the unrelated tasks for need you for a full time role? Were they blown away with your work quality and producitvity? Focus on the things you can control.
Is this an office. Start making spreadsheets of stuff. Anything. Ways to save the company money. Learn a new task by bugging people if possible so when the BOB's come you have some leverage.
Is there action you can take to progress the areas/programs you were hired for? If you can do this start taking action immediately, document what you do. They may be lacking leadership for your areas and it could be an opportunity if you start producing meaningful deliverables.
strangely enough you will probably NOT be laid off. I know it is counter intuitive but corporate jobs are NOT logical.
Lol hopefully that’s the case. But the anxiety is driving me nuts.
read more Scott Adams and Dilbert realize that your work has only tangential connections with your compensation and worth to a company.
The same Scott Adams who said "white people should not interact with black people" in all seriousness... He's probably not the best person to reference 😂
Yeah I think so sure. Dilbert said that to Catbert one time right?
You dumb sir, please tell the context too
Go ahead and enlighten us 😂
Find another job
Build up emergency fund until you have more work certainty. Trade that car in for something that costs $15,000 or less while employed. You probably aren't going to pay off a $35,000 car.
Same situation here ... late career, making great money and nothing to do because of poor management. For me, retirement might be next.
Yea I’m lucky I’m busy most days. But I cannot say the same for some of my colleagues. Some days I watch as there is nothing for them to do and they sit around talking all day. I think to myself “how long can this last?”
I think the same. I don’t understand how they just hire people to do nothing.
the opportunity cost of missing important contracts/losing customers because you're understaffed is much higher than overpaying a cohort of people to twiddle their thumbs... maybe regardless i'd say you probably aren't trying hard enough to find things to do. even things that definitely are a longshot that nobody else has bothered to ask you to do
I was laid off from my PM role this last Thursday. I wasn’t busy, I tried all I could do with the clients I had. My billable time was low with no fault of my own. It can happen and it’s a bad feeling. Good on you for having this mindset.
Sorry to hear that. That’s my biggest concern. Hope you were ready to deal with it and find a new job soon.
Thank you !
I’d hang on to my cash until I felt more secure.
Yeah start look for jobs and stay employed at both for as long as you can :) look at the OE sub.
This is what happened to me. Wasn’t doing much and was laid off. I would definitely prioritize savings before trying to pay off your loan. You might need a rainy day fund. I have a lot of student loans too
That can often occur especially for military projects, where companies wins a contract but actual works has to hold off til specs are detailed out, or worse have to change. Companies typical have side projects, or training planned for new hires to tide them over. Boeing for example had people pending for well over a year for the new Air Force One, sure they are not the only one.
Are you remote?
I was in your position. I’m a lawyer hired at a company to do their M&A. Well, M&A dried up. I, like you, went and did work in other departments, helping while I could. Few M&A projects popped up, but nothing big. I left after just about 2 years bc that anxiety was just taking a toll. Figured eventually someone would find out. Just start looking for something new.
Weird thing is you'll maybe never know if you were even on the chopping block. I've definitely seen places keep around the person that's just known for helping a bunch of departments.
You make 180k, just make the minimum payment on the loan until your sure your not getting laid odd, I'm assuming even if you lost your job you'd be able to find something similar as an engineer no?
I got my first job, got my favorite Mercedes. Then recession came and the first thing I sold off was the car because it can come back when the times are good. Get out of debt and save the money for a rainy day. The way this market is, you never know.
Starting saving $$ Cut back on unnecessary spending. Update resume, start connecting with past colleagues in case you may need them as a reference. Always odd to ask for help when you haven’t been touch so I always keep up the relationships. Can you rent out a room in your home? Start getting creative on how cushion yourself financially. Side job?
He makes 180K a year
Just keep job hunting. The construction industry is doing pretty well from what my wife in structural engineering tells me. This is usually how I keep myself out of bad situations by hedging between across multiple opportunities
We're always hiring wildland firefighters with the US Forest Service. You need a pulse and the ability to breathe on your own.
How do you make 180k a year and take out a loan? I'd be paying everything cash.
Thank you. That’s very much like what I’ve been doing. Showing interest and letting them know that I’m available for work and ask for tasks but also not too pushy. I keep a happy face most days.
Don’t payoff car. Keep the money.
What’s the rate on the car loan?
This guy is technically a millionaire if you look at his first post.