Go to higher paying Corporate Job, or stay at smaller, "safe" and comfortable company?
Not sure how to properly ask this question since I know there's quite a bit of background information. I'll just provide a bit of info in the hopes someone else has been in a similar situation and can bring up something I haven't thought of yet.
My main questions if you do not want to read my situation below: When did you realize it was time to move on from your comfortable, enjoyable job and take a risk at a new, higher paying company? Do you chase more income, or stability after having your first baby and being the sole provider for your family?
My thoughts are to weigh the pay, benefits, drive time/work-adjacent time, work-life balance, etc., but feel like I'm missing something that will truly give me a Stay or Go answer.
Just starting with the numbers:
(30) years old, living in Texas, currently making ~$160k/yr as a design engineer at a smaller company. Was recently offered an almost too-good-to-be-true position at a larger company, upwards of $250k/yr ($175k base + vehicle allowance + a profit-sharing check ranging from $45k-$80k once a year).
My situation (apologies for the random structure, just jotting things down that I believe are relevant):
Recently had a baby and my wife quit working. I thought we'd be living comfortably on my salary alone, but health insurance offered by my current company is completely insane for family coverage ($1700/month) - ended up going through the Government Health Insurance marketplace which puts our total monthly health insurance family coverage at $950/month. The new job has family coverage for right at $500/month. Money is alright, mama and baby are taken care of, which is why I'm hesitant to leave.
I have never left a job that I like before, and I really enjoy my current job. The drive to work is at 12minutes, freedom to take off whenever I need, mostly relaxed and fulfilling work being done with a great group of guys.
New position will be corporate, a branch off a multi-$billion company, and will come with all the not-so-fun corporate hurdles to clear during the day to day. I will be responsible for making big decisions on production, equipment procurement, etc. Those that have dealt with the bureaucracy around this kind of work in large corporations may understand why this is a big deal. I had a terrible experience with this at my previous company, filled me with constant stress and angst. The drive time to and from work will be about 1-hour each way, but the new company "says" (still getting this in writing on their offer letter) that I should be able to work from home 2-3 days/week.
I've always chased the money and been willing to sacrifice my time to better my wife and I's financial situation, but am really struggling here with risk due to recent family changes. I'm having nightmares about burning the bridge at my current company, hating/failing at the new job, and in general just trying to fix what isn't broken.
Hopefully in the vastness of this sub, someone has been in a similar spot and has some insight. Thank you very much for your time.