What would you do??

Digger13

OK, here goes....Hi to everyone who reads this by the way. This is my first and may be my last!

Quick overview of the situation:
I've been under consultation since January, part of ongoing cuts at my current employer dating back to 2013. Slowly but surely they are reducing headcount and I've watched some close friends taken off the pay roll for due to business decisions.
I work in the Finance team, only been in the AP side for 10-11 months having moved over from the AR side last April. Before that, I worked at the warehouse since 2007. So I'm in my 8th year and still only 25. Ive studied AAT level 2 and now started level 3 just this week, study support paid for by my employer. The AP side is being cut from 5 full time and 1 part time staff to 2 full time and 1 part time staff. Voluntary redundancy was on offer.

The money stuff:
Voluntary redundancy looked to come in around 10k including statutory pay, notice in lieu, holiday I've yet to take and retention bonus to stay on until July.
I'm currently on 19k, the new job they've offered is 25.5k - so a big increase for me. A guy who still lives at home with outgoings of 500-600 a month only.

The dilemma:
I love the company(hence the 8 years service) and the people I work with, yet 3 of them are confirmed leaving now and 2 of us are left. I'm not convinced on our new financial controller and the directors seem two faced..I told them today I will accept the new job. But I'm having major second thoughts now I'm home from college and I don't know how to tackle this tomorrow.
Bear in mind, I have signed NOTHING yet.

So the question is....What would you do!?

Am I mad for not taking the money and running into the big bad world? There's tons to do out there. And I don't want to get 6 months down the road and regret not taking the money and exploring my options.

I really want to continue my studies. Agencies said I could get another job worth 20-22k with study support. But I am nervous about going to a new company and doing all that again new guy stuff again.

Second question, does it sound like I want in or out? I really cant decide what I want and I think any later than tomorrow I cant really turn back on my decision.

I really hope I get a few replies before I'm in work tomorrow. It's hard to trust forums but I've seen tons of help go about just reading through them today. Someone may give me the inspiration to go do what's right for me, even if they don't know me.

Thanks all that read and reply. I'll be monitoring this closely tonight..

Thanks again
D

melloecastro

My answer would be calculate the risks good and bad. If you still live at home what do your parents think? Do you have any debts to pay back? It is always tempting to take redundancy lump sums but you need to work out- how long it would last you? if you want to do more training how would you pay for it- in a new job you may have a probation period before they offer training? If you leave do you have to repay the cost of the training course you are now on?

If they are paying for the course, offering you a pay rise I would ask myself 2 more questions- how much more can you earn when you have done this next course? will you now get more responsibility in the new role- both things that mean you could start looking for an even better job? Sometimes you are more employable also if you are in a job whilst looking for another job. And if you then say you wish to leave they may offer you even more. Also is there a chance there may be more redundancies in the future so they may offer you this again and after you have completed a course/got the pay rise?

On the other hand if you have burning desire to go back-packing then 10k would be tempting.

I would say if there is nothing else you really want to do that is life-changing then stick there and get the pay rise, the course and see what happens. You are only 25 and if you have the chance to stay at home, earn a little more money and save up for a house deposit/nice holiday I would do that. It sounds like you really enjoy your job and you have chosen the career you really want. and 8 years stable experience in a job is v valuable on a cv too!


Good luck!

loadsacash

Cutting staff from 5 full time and one part time to 2 full time and 1 part time is rather a lot!

You will get a large pay rise - but you could be doing twice as much work!