How much to switch jobs?

Jacka87

Firstly sorry if this is in the wrong place but wasnt sure where would be better.

Secondly, I am in full time employment and not in any danger of being made redundant or anything like that. I am also quite early in my career (2yrs after graduating). I have my CV's etc on the usual websites (monster, total jobs etc) and the other day I got called up by a recruitment agency. They think I would be ideal for a post and have asked if they can put my name forward. So I said yes. Hoping now to get offered an interview and then a job with the company in question.

The new job has a salary range depending on experience. The bottom figure is exactly what I currently earn, so moving will defo mean a matched salary or possibly an increase. I also have the advantage that I would be able to walk to work from the "new job" where as I currrently spend about £2500 on fuel each year plus car maintenance and waste 10hrs a week driving. So far a no brainer then!

Now the difficult bit! Moving would mean leaving a very cushdy Final Salary Pension scheme where the company currently put in 18% of my salary and I put in onlt a couple of %. Thats a loss of a fair some of Future Money as I would call it. I also have the benifit of knowing my current workplace and tho its not perfect I am able to come into work everyday without being depressed and know what the potential for career progression is etc etc.

So the question how do you decide if its worth moving to a new job? Basically how much of a pay rise would you need?

Hoping for a bit of a debate on this to help me make a decision (assuming I am offered the new job - but also for future use)

Oldernotwiser

Quite honestly, I'd wait until you're offered the job, particularly as you have no idea what salary they may offer.

What I would say is to be wary of leaving a secure job where you have worked for 2 years to move to a job where you could be made redundant in a couple of months.

getmore4less

The bottom figure is exactly what I currently earn

Does that include the 18% pension perk or any other benifits?

Personaly I think you have to be a bit carefull about broadcasting you are on the market.

Your current employer may also be looking at these sites or have contact with the agencies.

It is a small world which comes in handy when you really need to look.

I would focus on what the next move is where you are and see if that fits your goals/time scales.

Remember working next door has its disadvantages.

Travelqueen

I would also consider the size of the company you are currently working for, vs where you currently work - i.e. is it a large or multi-national company which might offer serious progression and new experiences in the future?
Equally, whilst having a pension, and certainly a final salary scheme is admirable, do you honestly believe you will be working for that company for the next 40 years? If not, then I would look at the portability of the pension pot you have paid into, and, subject to finding a new fulfilling role move onwards to new experiences. You can't be entirely happy in your job if your CV is out there, and take it from me, you really don't want to stay anywhere just because its easy or pays the bills, sometimes its just not worth it.

Good luck!

DCFC79

Why not wait till you get an offer, you are getting your hopes up a little early,

xbrenx

DCFC79 wrote: »

Why not wait till you get an offer, you are getting your hopes up a little early,

The OP did state in their original post

(assuming I am offered the new job - but also for future use)

so they are very aware

To the OP, it may be well worth going further with this offer if only to see what they might be able to offer regarding pensions etc.

As previously said, if your CV is out there, even subconsciously you may not be truly happy where you are.

Good luck with any decisions you do make

Nixer

Just because your current place offers a final salary scheme where you only contribute a couple of percent now, does not mean that they always will. Some schemes (such as my partner's one) are asking that their members increase their contributions, some may well just be frozen. So don't use that as your sole reason for staying.

Jacka87

Thanks for all the replies.

With regards to the pension and my salary. The salary I am currently on is the same as the bottom salary offered, both companies have pension schemes but one is final salary and I am yet to discover the complete details for the other. I would expect the other to be a good pension scheme but not final salary as I am aware of some details about the company.

With regards to me not being totally happy in my current role. Well I have to say their is some truth in that. My current role involves an hours drive morning and evening and that is very costly in terms of finance but also in terms of my life. 2 hours a day is a lot to lose and this increases if their is bad traffic and becomes very tiring. Working next door as somebody has put it doesnot put me off. I stay in a large city centre so next door is not like in a small town. On top of that my current job is a graduate role and that will change soon when I will start my permanent position. It is also a bit of a risk as I dont know if I will like that role either.

I have to say I am now worried that my CV is out there and that if my employer sees it then I may have an uncomfortable time. Which dawned on me before I read any of these responses but they have just made me worry even more! On top of this and with respect to the question about the size of the company, the new job and my current job are both companies part of the same group. So I am even more worried that somebody will pass my details sideways...however the company have also always said that progression may not always require you staying within the same company within the group so not sure if thats any defence.

Btw I am not activly looking, I am happy in my job but having grass is greener thoughts. I was more interested in less specifics and thinking more about the concept. If you are offered a new job on the same salary would you move? I wouldnt as the unknown and the risk is too high with regards to redundance etc. Obviouslly if I doubled my salary I would move in a second assuming I didnt need to move. So basically what would YOU require to make you move?

Thanks again for the advice.

Jacka87

PS I meant to say I dont expect to stay with this company for life. I do infact sometimes wish I was working somewhere else and moved here later in my career as in may ways it would suit better. But with regards to the pensio, they have already stopped it for new comers and thats probaly going to mean that it gets stopped for existing employees soon as well. The thing is to benefit from the final salary scheme I need to stay with the company for at least 2 years and even then the amount of benefit is only good when I have done a few years here.

I have a feeling if I stay here for 5 years and dont move about then, then I will be here forever. Just a feeling!

Tankrizzo_2

OP, I would have a look at the company in question before making any decisions. How big are they? How stable are they? How secure would your job be?

If it all checks out then I think you should go for it. Negotiate an increase for joining; minus the travel costs you will already be £2.5k better off even before you start. Yes you currently have a F/S pension but you have to remember:

1. This will probably not be the case for much longer, and
2. It's only really worth having if you stay there for years and retire on a decent wage at that company.

Jacka87

Tankrizzo wrote: »

OP, I would have a look at the company in question before making any decisions. How big are they? How stable are they? How secure would your job be?

If it all checks out then I think you should go for it. Negotiate an increase for joining; minus the travel costs you will already be £2.5k better off even before you start. Yes you currently have a F/S pension but you have to remember:

1. This will probably not be the case for much longer, and
2. It's only really worth having if you stay there for years and retire on a decent wage at that company.

Thanks for the input. The company are a fairly reliable company with regards to job security etc and the fact that the salary band rises above what I am currently on means that I do suspect that an increase plus fuel saving is defo an option. If and only IF an offer arises then I think I will be only willing to move for a payrise and I have the figure in my head now. If nothing comes of it then happy to stay where I am.

On the other hand Ithink I will be withdrawing some of my CVs that are out and about on the internet and maybe editing a few of them so that they are a bit more anonymous. At least that way their is less chance of my company seeing them and realising that I am open to offers.