Should I go alone?

edited 30 November -1 at 1:00AM in Employment, Jobseeking & Training
2 replies 705 views
plymouth_janner_boyplymouth_janner_boy Forumite
149 Posts
Hi all, I haven't posted in ages as my computer has packed up!!:mad: I am now hijacking my parents comp...

Any hoooo, I am a Civil Engineer and have worked for my current employer (whom I joined straight from Uni) for 4 plus years. I am on 26k a year, have a brand new company car every 4 years (new one is on its way!) pension, fuel card sick pay and holiday pay etc...all the benefits you expect from your employer, with good promotion prospects and a training scheme to get me chartered. However.....

A close friend of mine has always offered me the chance of working with him doing the same thing as i do now.The difference is he is a limited company and earns a whole lot more lolly!

He is now offering me:

a rate which equates to 29k a year AFTER tax (which is an extra 1k take home a month)
5k to spend on a van
a fuelcard
4wks holiday
new equipment to allow me to work alone
10% stake in his company's profits.

The drawback is that the work isn't guaranteed, (although he hasn't been out of work in the past 5 years i've known him),but there are also several agencies with work. My current job does guarantee work

The argument is construction isn't going to dry up in the forseeable future and if it does, my current employer isn't going to have work either. another drawback is my training will stop. It isn't due to finish until 2008 and i have lost interest in it. The money going freelance is really good though, and I'm not in a position financially to turn it down.

Basically, does any one have any advice? or similar experiences you can share? sorry about the long post!

Replies

  • NileNile Forumite, Board Guide
    14.9K Posts
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    Hello plymouth janner boy

    We can't make the decision for you.

    I've spotted that if you stay with your current employer you'll have a pension, sick pay and I'm guessing (because you don't state) more than the minimum 20 days holiday leave. The training to enable you to reach chartered status is another benefit of staying.

    Won't your salary increase when you reach chartered status anyway.........so wouldn't it be worth your while staying where you are?

    Failing that, wouldn't your chartered status help you to move to another company (after 2008) and get the equivalent or better 'package' your friend is offering?

    If I was in your position and only two years away from achieving chartered status in my profession..............I'd stay.;)

    Best of luck with your decision.

    Nile
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  • hi nile, thanks for the reply

    becoming chartered will give me a bonus of 2k but not increase my wage significantly. the main benefit will be in getting another job with a different company in that i'll be more "attractive" than those who aren't chartered.

    Money will increase in the company as my role improves, I am currently a newly promoted sub agent with a wage bracket of around 25k - 30k, a couple of years would see me as a site agent = 30k - 35k, then senior site agent around 40k.

    remember the money from freelancing is 29k after tax, which is rougly 35k to 40k gross.it's a big increase and If successful could have a business of my own.

    I know I can't be told what to do (if only! would be easier;)) but i'm really struggling at the moment. I feel like i'm at a cross road in my life, I know my wife would love me to take the money.. i'm just really really thinking it through as i sense this could make or break my career.
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