Weighing up leaving a stable job, pros v cons

[anonymous-user]

Hey Everyone,

So I am looking for some peoples though on jumping ship.

I work in a large financial blue chip org. It has really really good benefits but the pay and payrises are quite stingy (unless you are board level obvs). Add to that the fact I dont get on (on a HR involved level) with a senior member of staff who victimised me when he got promoted above me as he didnt like me either is making me re-evaluate.

So it's stable, if boring company and nothing has changed in many many years, including the salary ! I am however quite specialist in one area (with certs to prove) and I have a really good relationship with the vendor we use for that requirement. The vendor grape-vine has let me know that there may be job openings there.

However I am somewhat scared to jump. I would be jumping from a very big, good and extremely stable employer with cash reserves bigger than some nations to a company that has only been round for five years but is going places.I have to say I am sooooooo bored. Same crap, different day, to the most miniscule level. My life I guess, could be described as simple and devoid of pressure

I don't think the day to day would change (I spend every day working on this product to the exclusion of almost everything else and my role is perm WFH) but the pay would. The pay jump (including the perks) equates to about £25K/pa. If I stay where I am there is literally zero room for progression. The job in five years will be identical. I could swap 30th June 2020 for 30th June 2025 and it would be identical.

So my question is, how do you know if its the right move. I am hesitant as I am natural pessamist but that isnt always a bad thing.

[WonkeyDonkey]

I personally would jump at it. For me a £25k pa rise would be almost double my current salary.

Even if I was on £100k pa I would probably still jump, life is short and if you have the skills to demand a high salary then I wouldn't think it wouldn't take too long to find another job if things did go pear shaped.

[crofty1984]

If the money was the same, I'd say make the jump. You're clearly not happy there. For an extra £25k it's a no brainer.

[0a]

For most of us, work uses up such a large amount of our waking time that I think it's really important you enjoy it.

Don't necessarily think that the 'blue chip' means total safety either - management can change, departments get cut, strategy changes, competitors enter.

If the worst happened and it didn't work out 6 months down the line, would you easily get another job? If it took you a couple of months, would this be an issue? If you are happy with these questions, it sounds like a no brainer to move!

[CubanPete]

Blue Chip, is for investors not employees.



Sounds like a great opportunity.

[sociopath]

Unless you're on 200k pa I can't see any reason to not jump for a 25k rise

[fat80b]

Never be scared to jump as something new is always good for the soul .

I think the real scary thing is to stay too long in the wrong place just because it is comfortable. People generally say they regret the things they don't do rather than the things they do.

From the sounds of it, a smaller more dynamic place could be really exciting as well as being worth a few £,

I know people who when faced with a choice like this recommend physcially writing a list of pros and cons, The act of writing it out will help and you'll soon know what you actually want to do. Once decided, stick to it.

[Scrump]

crofty1984 said:

If the money was the same, I'd say make the jump. You're clearly not happy there. For an extra £25k it's a no brainer.

Seconded

[98elise]

crofty1984 said:

If the money was the same, I'd say make the jump. You're clearly not happy there. For an extra £25k it's a no brainer.

This. You would be mad not to make the jump, especially if the new company is going places.

[i4got]

I'd jump at the drop of a hat.I did often.

However I'd check your contract about being hired by a client who your company has a relationship with - just to be on the safe side.

[Tlandcruiser]

Go for it, the only thing stopping you is; your comfortable and in a routine.

[bristolbaron]

Flip a coin. You’ll know which side you want it to land on before it does.

[xx99xx]

Money isn't everything. Consider what else they'll want from you for that extra £. Basically, consider the work life balance as that can be worth more than the salary uplift, if you have a good work life balance at the moment of course.

[mcm87]

I did the equivalent of this late last year. It was going really well, except the industry I moved to has been hit heavily by Covid. The place I left has been mostly untouched.

I would give a lot for the financial security of the previous role now... I left for extra money which we didn’t need at the end of day.

So it doesn’t always work out. Be careful.

[fastraxx]

25k is nothing if it is an extra 3hrs a day or if you're already on 80-120k, it's not likely to change your life much . consider carefully.

[anonymous-user]

Hey everyone,

Thanks for the replies. To be clear, that 25K isnt all cash. It includes company car package and such. As some have said, life at the moment, it's simple and easy but sooo boring. I can go an entire week between meetings and I am pretty much left to my own devices. As long as the items required are delivered, it's ok.

I suspect that would dramatically change. If I did move the new employer would want their pound of flesh. Its not something I had actually thought about but one of the guys there that recently left was doing 60+ hours per week, with a six month old child at the same time.

My main worry (aside from the Covid) is as most say, fear of the unknown. If if doesnt work out, getting the "current deal" wouldn't be possible at most other firms giving the way the chequebooks are being slammed shut!.

I'm going to express my interest as a first step anyhow. No harm in enquiring/applying officially.

[anonymous-user]

I was like you, same position, same reservations 20 years ago. I jumped (tentatively), never looked back. It was the making of me financially and in my career. I'd far rather be a big fish in a small pond than the other way around you learn so much more. Eventually I ran my own business having done every other job there was to do.

Do it!

[djc206]

It depends what impact that 60hrs+ is going to have on your private life. As a young, childless singleton it’s probably not going to matter too much, if you’ve got kids being at work that much definitely isn’t good for them and it’s not likely to be beneficial to any relationship either. Personally you couldn’t get me to work that much for any amount of money but if it’s a means to an end to get you out of a rut it could well be worth a punt.

[AudiMan9000]

I’m going to express a different view to the others here. In these uncertain times, I think you are fortunate to have a secure job with a decent income. What concerns me about the new position is how young the company is and whether it will whether the economic storm in the months/years ahead. You could be dispensed with easily in the first two years. That payrise won’t matter if you lose the new job. I don’t mean to spook you into turning down an excellent opportunity. In normal times I’d say go for it. But speaking as someone who might not be able to pay their mortgage soon, I would love to have the job security which you currently enjoy. Best of luck with whatever you decide.

[sociopath]

AudiMan9000 said:

I’m going to express a different view to the others here. In these uncertain times, I think you are fortunate to have a secure job with a decent income. What concerns me about the new position is how young the company is and whether it will whether the economic storm in the months/years ahead. You could be dispensed with easily in the first two years. That payrise won’t matter if you lose the new job. I don’t mean to spook you into turning down an excellent opportunity. In normal times I’d say go for it. But speaking as someone who might not be able to pay their mortgage soon, I would love to have the job security which you currently enjoy. Best of luck with whatever you decide.

In times like these big companies don't provide any more security, and they're very happy to dispense with staff.

Personally I'd take the 25k, that's £1500 per month to just stick in the bank in case it goes tits up