Job offer, unsure what to do?

StevenB12

Hello all, 

In a bit of a predicament job wise. Long story short I'm in a management position, been with current company for 6 months, came here on about £6000 a year less than previous employer due to it being a horrific place. 

I enjoy it here, work well, there's a few opportunities for me to progress, potentially, and a slight chance of a pay rise next year based on performance. 

I've been offered another job through a company in the Energy sector, £9000 a year more than I'm currently on, and a lot of incoming work over the next 10-15 years, however I'm unsure if chasing the money is still what I want to be doing at the age of 33. 

Biggest downside here is I'm salaried to 40 hours but working about 65 a week on average and the chance of a pay rise is almost a year away and may not happen. 

Is it worth sticking it out or making the jump into a bigger sector? 

Thanks for any advice 

born_again

Given you are currently working over 50% more than you are being paid. You are being abused by the company.

I would go for the new job.

theoretica

Can you do some research into the hours you would actually be expected to work for the new job? You may not want to chase money, but possibly you want to chase a great work life?

Penguin_

Give you say you're working on average 65 hours, I hope your hourly rate when you divide you salary by 52 weeks & then 65 hours exceeds NMW.

elsien

^^^
This. What would they be expecting for their extra nine grand year in comparison to the amount of work that you are doing now? 

vacheron

If you have any doubts about staying with your current company, jump now!

6 Months is nothing and they can basically fire you without notice or redundancy for the next 18 months simply because they don't like the colour of your hat!
You may not even be eligible for their pension scheme or other employee benefits yet?

I'm at the other end of the scale where I have worked for a number of different companies, but due to TUPE transfers I have retained my original 1990's, FTSE 100 company, contract, continuous years of service, sickness, redundancy and pension terms.

I don't mind where I am currently working, but it would be very difficult for me to to just walk away from the benefits and entitlements that I have accumulated over the years.

If this did happen though, for whatever reason, it would feel extremely liberating to reset all the clocks to zero and start again with no baggage meaning that you could jump ship without a second thought as soon as a better offer comes along.

You may also find, if they value you, that simply putting in your notice may trigger some kind of retention offer. 

StevenB12

Thanks all, much appreciated. 

As for new job, on paper its more contracted hours (45) than my current (40). It would also take me about 60 minutes each way to get there and home (about 70 mins now). 

As with this job, the small print dictates that my hours may go over the 48 hour week to meet the demands of the business. So I have no doubt I will still be pushing excess hours over my contracted 45 at the new place. 

I've spoken to my Construction Manager and he's said that there's potential for a pay rise next year when we have the wage reviews, but not at the moment as its against company policy even as a one off case. He has said I'm valued etc as I'm on a high profile job, however the money to hours ratio is what concerns me. 

At the new place it would be similar hours, but a bit better off.

400ixl

33 is a very young age to not be looking for opportunities to grow and increase your salary. You are at the prime age to be doing the exact opposite. Relying on salary increases vs career moves is never an even equation.

The days of jobs for life went years ago, jobs for years is on its way out. It is far more common for people to be moving more frequently (especially in their 20's and 30's).

You haven't got the golden handcuffs described above.

Brie

It's great to be head hunted.  Any chance of talking to someone who already works there to see if there's things you need to know? 

whatever you decide I wish you the best.  

DullGreyGuy

My rule of thumb is always that you get experience/promotions by staying with a company and you get better money by changing companies. It therefore always depends which your priority is at this point in your life. 

You dont say how much you are actually on to know if £9,000 more is a 1%, 10% or a 33% increase. 

It's always considering what's coming with the extra money, particularly if you are jumping to a different type of company. In Financial services there is a very clear hierarchy of sectors in terms of salaries of non-ExCo members - Retail Banking, Commercial Banking, Insurance, Wealth Management and Investment banking. I have to say I've eyed the day rates from the Investment Banking which typically are 50% higher than Insurance but then remember I'd spend all day working with investment bankers, their attitudes and their expectations and suddenly think 50% more isn't enough. 

Personally stuck with my first employer for a good few years and went from a call centre operator to an experienced person in projects/transformation/strategy. Money was bad, but great compared to the £12,500 I started on in the call centre, when I switched company I got a vast increase and was taken aside after a few weeks asking if I was sure they were paying enough for me to stay around. 

StevenB12

I'm on £47,500 a year now salaried, plus any weekend work, so I average about £50k. 

That would be £56,500 at new place, with a small increase after additional training in order to work on sub stations etc. So potentially £57k argument sake, so it's a decent increase in that respect