Would you change jobs purely for more money?

Milky_Mocha

If you were offered a promotion in your current job from a managerial to a senior managerial position and then another company offered a managerial position (equivalent to your current position) at a different company but offering more money than the senior managerial position at the current company which would you opt for?

I'm not talking about much more but approximately 4% higher.

Googlewhacker

It never really matters what advice we give you, I would suspect you already know where your heart is at

dori2o

It would depend on how secure the current position is when promoted, and how secure the new job would be.

At a time when the economy is still unpredictable, I would also be thinking of how many years service I have with the current employer as if it came to redundancy then obviously you would ahve the benefit of that service in any redundancy payment, where if you start for the new employer you would have to start from scratch.

Bannik

If the difference is that small, I'd prefer to stay where I was, and have a more senior job title to add to my CV. It's also a case of "better the devil you know" in a recession. However, I would also try to negotiate the money up a bit too.

When I used to work on an employee basis, I often moved jobs for more money. Some went well, some went from security to insecurity (one change in particular was to a new start-up propped up on £15M venture capital). However, I'd think twice now if I was in that situation due to the economic climate. That said, I wouldn't swap self-employment for even the most secure employed position nowadays, I don't think I could put up with answering to a board of directors again.

dori2o

It would depend on how secure the current position is when promoted, and how secure the new job would be.

At a time when the economy is still unpredictable, I would also be thinking of how many years service I have with the current employer as if it came to redundancy then obviously you would ahve the benefit of that service in any redundancy payment, where if you start for the new employer you would have to start from scratch.

FATBALLZ

Well really this depends what you mean by 'more money'. Short term the other job may be more money but long term you are likely to earn more taking the lower paid senior manager job. Get it on your CV, in a couple of years demand a pay rise or go elsewhere, where you will be able to get much more than a 4% rise.

Milky_Mocha

Googlewhacker wrote: »

It never really matters what advice we give you, I would suspect you already know where your heart is at

Surprisingly, no I'm actually torn between the two.
All really sensible replies which does help me weigh things. Fatballz comment about getting the senior manager title on my CV strikes a chord though. I don't know the package for the senior manager role yet but from rumours I've heard it is actually lower than I initially thought - more like 10% so if offered it I will seek to negotiate, otherwise I will go for the higher paid alternative.

Job security - well, I feel there's very little of that nowadays but yes, severance package would be better at the current job, although I haven't been there that long anyway.

My 'heart' is probably with the new company because it is an expansion of my experience and remit, i.e. a slightly different area which will also enrich my CV. Decisions-decisions!

Thanks all!

shikoku

No I wouldn't.

shikoku

No idea why that repeated !

bristol_pilot

I would not change employer for a 4% pay rise. Around 15-20% is more like it. The reason is that there is considerable risk in changing employer: worst case scenario is they could finish you on the first day - I have seen this happen! If the new employer really wants you, they will offer more than a 4% rise.

pineapple

If I was happy with my current company I would stick with them. Plus the new job title might be advantageous in future moves.
I would research the other employer very carefully before jumping ship. That means trying to talk to people who work for them. You might not like them, they might not like you. A lot of firms put people on 3 month probation at the start. And don't forget it is still a fragile market. What do they say? Last in, first out!