Should I take it or not??

jgreenway

All staff at my employers have been provided with their figures, in order to look at their options.

The package that has been offered is 1 months pay for each year of service, and an additional payment of 5 months. As the employement is based in Europe and not in UK. It is also subject to an additional holiday allowance payment. I am a EUROPEAN Tax payer not UK - so no 30k tax free as i understand it.

Calculations would suggest that a figure of about 70k EUROS would be payable before local TAXES, and approx 45k EUROS after....

But is it enough? Jobs are scarce, and it is likely that my own role is relatively safe....but you never can tell. I dont want to kick myself later for not taking the package and having to leave on less....

and the exchange rate is stonking....1.1?

Current salary is about 60k EUROS so it could be difficult to secure employment at this level currently.....but if done in less than 12months....thats breakeven? surely that is a fact for consideration...

The last point before i am bombarded with lots of you wanting more info (probably) is, I have been considering my options of moving in the not too distant future...so with that in mind...I should grasp it with open arms???

Maybe my age is important for your advice, I am 25 years old. Thanks for your help.

bristol_pilot

The offer is basically at the breakeven point - a year's net salary. At 25 I would take it, at 45 I wouldn't.

savingholmes

I think I agree with bristol pilot - having said that you need to consider how many jobs there are available in your field.... At 25 tho I would have thought you should find the job market reasonably buoyant? I do think tho this recession could last many more years yet so you need to be reasonably sure you can get another job... Perhaps redo your CV and sound out the agencies on your prospects before making a decision?

HTH

Pete111

A years net salary for redundancy at 25?

Usually that would be a no brainer but yes, take a few days to sound out the job market in the current climate. If you have good qualifications/skills (which you ought to do given your salary/age) then I would guess you will be able find a new role within 6 months. If you are you in the financial sector however you need to look particularly closely at what is out there.