Employment dilemma

Lioness_Twinkletoes

I have a genuine work dilemma and am looking for some opinions on what others would do.

I have a job, working for a LA. Quite happy, although keen to progress my career to management (logical next step). Salary circa £30kpa. I am well liked and respected, have been in the job for 7 years. Lots of benefits including 31 days annual leave, plus bank holidays, flexi leave and six months paid sick leave. Good pension and a commute of less than an hour.

I've been offered a job through an agency. One year fixed term contract, fantastic opportunity. Would be the manager of the department. £43k per annum. No real benefits to speak of and the job is in central London.

Really the only draw is the money and the position. Although it;s a fixed term for a year, it could potentially be extended. It could open doors that are currently closed. It is fabulous money.

So, do I stay where it is safe and comfortable or move and take a risk?

What would you do?

double_mummy

depends on your situation

personally i would take it because even though its a one year contract it doesnt really make any difference you could be out of the 'secure' job in a year you never know

it also depends on how long the commute time will be and how much of the extra money will be swallowed by travelling costs

tomtontom

What is the commute like? I've done the London thing and you'd have to pay me a lot more than that to go back

Lioness_Twinkletoes

double_mummy wrote: »

depends on your situation

personally i would take it because even though its a one year contract it doesnt really make any difference you could be out of the 'secure' job in a year you never know

it also depends on how long the commute time will be and how much of the extra money will be swallowed by travelling costs

Married, no dependants but I am the main earner. My secure job is pretty secure; if my job was axed I'd be offered redeployment into another post. If not, I'd at least get some notice and redundancy.

The commute will be about an hour (on paper, so to speak) so I'd reckon an hour and half - delays notwithstanding. However, I might be able to start earlier and leave later. The extra costs will be around £50 per month.

PHILANTHROPIST

Lioness_Twinkletoes wrote: »

Married, no dependants but I am the main earner. My secure job is pretty secure; if my job was axed I'd be offered redeployment into another post. If not, I'd at least get some notice and redundancy.

The commute will be about an hour (on paper, so to speak) so I'd reckon an hour and half - delays notwithstanding. However, I might be able to start earlier and leave later. The extra costs will be around £50 per month.

Quite a dilemma Lioness. Should you stick or twist ?

Based on your current net basic pay, and after deducting say £1K before tax and NI for > travel cost, you'd appear to be say £12K gross better off if you twist.

After PAYE and NI deductions that would leave you with say £8K more money per year.

Then say you will lose one weeks leave entitlement and other valuable benefits, that may reduce the twist differential to say £6.5K.

You will also presumably give up your valuable employment rights, which would of course have some intrinsic value, after all who knows what may be around the corner. To allow for that I'd allow say a possible tax free lump sum of circa £8K, (assuming you are over 41) which could be discounted over a period of say 5 years to say £1.6K per annum.

Based on my calcs if you twist that would leave you say just less than £5K better off after tax etc. You'd then have the longer commute to deal with and all the related stress etc.

Based on the above differential many folk may stick. You could also drop a hint to your boss that you may be leaving and who knows you may get a swift offer of a promotion or upgrade.

Conversely, you only live once (well so I'm told !). I'm a risk taker. Are you ? A change can be as good as a rest. If it were me, on balance I may twist. But, I doubt many people would be so reckless.

Cheers

BTW, if all else fails you could always call ACAS lol

bristol_pilot

I wouldn't give a up a job on a permanent contract for a 1-year contract unless it was 'silly money'. £43k in central London is not 'fabulous'.

The value of your final salary pension alone is likely to be around £7-10k.

In your position, I'd stick. No question.

DigForVictory

For one year, stick.
For five years twist like a tornado!
All the best with whichever way you choose to jump!

PHILANTHROPIST

bristol_pilot wrote: »

I wouldn't give a up a job on a permanent contract for a 1-year contract unless it was 'silly money'. £43k in central London is not 'fabulous'.

The value of your final salary pension alone is likely to be around £7-10k.

In your position, I'd stick. No question.

In my calcs I had not fully accounted for the pension .... is OP on a final salary scheme ?. Although I'd presume your accrued pension rights will not be lost, such a final salary benefit (if OP has it) may move me more towards the "stick" option.

Ho hum .. at this rate I may recommend suggesting that you seek advice from a solicitor lol

getmore4less

stat holidays 28 from 31+BH of a drop of 2.1 weeks.

travel, holiday, pension,

That's before knowing the culture of the new place, re overtime.

Statutory redundancy would be £3248(less if under 29) up to £4872 if over 49
(how many LA offer enhanced these days?).

I think I would focus on career advancement in the LA.

PHILANTHROPIST

getmore4less wrote: »

stat holidays 28 from 31+BH of a drop of 2.1 weeks.

travel, holiday, pension,

That's before knowing the culture of the new place, re overtime.

Statutory redundancy would be £3248(less if under 29) up to £4872 if over 49
(how many LA offer enhanced these days?).

I think I would focus on career advancement in the LA.

Agree w/ getmore re the stat red calcs ... I had it at £5K assuming OP was 41> start date. I'd also allowed some PILON and fact that many councils I've dealt with appear to be a wee bit more generous re red'y packages, in particular if one considered a vol redundancy scenario. Even then my £8K figure may have been OTT, but say £6-7K may be a realistic compromise.

Based on the above Lioness may well be (even) better off financially to twist, but it's not without risks.

Be nice to hear back what decision the OP came to, and what were the key deciding factors.

superbigal36

Other bonus of working for the LA is it is probably more like a 3 day week
(My experience).