May 1, 2008

Schwab to relocate as early as June/July of 2007.

It's been in the works since late last year, rumors about the "other" Trust in Phoenix, and whilest Phoenix will be the primary location for CSTC, Austin Texas was also rumored to be the mirroring Trust, mainly because the acquisition of the 401(k) Company in Q1-Q2 of 2007 had left us with a half transitioned merge between the two companies.

It's all a part of the grand Corporate Relocation Strategy for the prospects/future of Schwab, and it's been rumored that Chuck Schwab will retire one final time in 2010, the same time that this relocation strategy is to be fully completed. Coincidence? Maybe.

So the big question is: Do I stay or do I go?

What would I be missing out on if I stayed, if I went? Would I maintain a healthy social lifestyle, outside of work? Am I being compensated enough to relocate for a number of years? Would it be too long, too short? With increased inflation, and housing prices dropping, as well as feds cutting rates, a San Francisco salary in Phoenix would be decent, but would I be equally compensated in the following years after I've moved?

If I took severance, I'm entitled to at least 2 months formal notice(
the pink slip), and the severance of at least 22 business days or more depending on salary. I have 66 business days, on top of the 2 months, giving me a whooping 5 months of paid leave, not including my vacation time. If I'm lucrative/highly demanded enough I would think 5 months is enough to find another secured position, and I'll have gotten so use to getting up at 6AM that I'll probably start looking as soon as I can, and still receive the full benefits.

Another thing to consider would be the company environment/philosophy/philanthropy/mission statement, and how they really behave in the industry, etc. It was a big reason I became so in love with Schwab that I worked my a** off to get in. Would any other companies give me that sort of warmth, and would I still wake up every morning and love being at work?

Sadly I won't know until I've been there, and I'm going to choose especially wisely now that I've been, in a sense, pampered and spoiled by a good company. I do know one thing, I'd love to be able to come back in a couple of years with more experience to this company.

So farewell to Schwab at least for a little while.