Bracknell to the city commute -been offered double my salary
Discussion
redrabbit29 said:
Hi Welshbeef (Great name btw),
Think you may have misread ... I don't have any kids, but my and GF are likely to have them in around 2 years, maybe 3 at a push. By that stage I'd hope to either be settled in that job (if I take it...) or have moved to one nearer home having gained new skills and better CV material. Or maybe go self employed or free lance.
There is no car parking costs for the train station as I live only around an 8-10 minute walk away... and it's an out of town one, so you can park in loads of places for free, but I would walk.
The driving at present is 40 minutes, but I have a work car so it's in effect free.
PENSION
It's a Police pension. I believe employer pays 12% and so do I each month. My new pension is 4%, and I guess it's on the same basis, we both pay that. My plan was to look into private pension and put £400-500 into it each month.
In terms of beers, it sounds nice once a month maybe, but I'd probably avoid it on a constant weekly basis.
You can overpay into the pension they offer if you do wish rather than having to have a separate pension. But do the maths Old 24% total in new 8% , was that old one final salary?Think you may have misread ... I don't have any kids, but my and GF are likely to have them in around 2 years, maybe 3 at a push. By that stage I'd hope to either be settled in that job (if I take it...) or have moved to one nearer home having gained new skills and better CV material. Or maybe go self employed or free lance.
There is no car parking costs for the train station as I live only around an 8-10 minute walk away... and it's an out of town one, so you can park in loads of places for free, but I would walk.
The driving at present is 40 minutes, but I have a work car so it's in effect free.
PENSION
It's a Police pension. I believe employer pays 12% and so do I each month. My new pension is 4%, and I guess it's on the same basis, we both pay that. My plan was to look into private pension and put £400-500 into it each month.
In terms of beers, it sounds nice once a month maybe, but I'd probably avoid it on a constant weekly basis.
With the drive I mean you have the cost of fuel for the 80min round trip that you will save plus tyres etc will last many years longer than they currently do. It’s possible that in reality you don’t need a car at all so could make notable annual savings to offset the season rail pass.
The only thing I’d say is that the pension for a job at that level is a bit poor. Is it a minimum of 4%, but with matched contributions up to a ceiling? For example, my company pay in a minimum level (I forget what) and will match my contributions up to 8%, so I’m getting 16% paid in each month.
Hours - can vary in the private sector, but I’m sure you’ve already got this in the police force. I doubt that you’d be paid overtime on £75k though... For sure you wouldn’t be in a typical office based role.
Lastly - I am in my office at 8:40, and leave promptly at 5:30 each day. Regular hours at this salary are entirely possible, depending on the company culture.
Hours - can vary in the private sector, but I’m sure you’ve already got this in the police force. I doubt that you’d be paid overtime on £75k though... For sure you wouldn’t be in a typical office based role.
Lastly - I am in my office at 8:40, and leave promptly at 5:30 each day. Regular hours at this salary are entirely possible, depending on the company culture.
DanL said:
Lastly - I am in my office at 8:40, and leave promptly at 5:30 each day. Regular hours at this salary are entirely possible, depending on the company culture.
This is a good point. I get in at 8ish, leave at 5ish and any other work I need to do is done on the train home or at home after dinner - usually just fannying about with emails and the odd call with overseas places. Depending on the role, if you get laptops and mobile phone you have another angle to make it work for you.You have not stated your age but noted maybe kids in the next 3-5 years so I’m guessing you are in your 30’s low to mid.
If that is the case and you are in a job which has no prospects carrying on like that for the next 30-35 years might not be the best possible option.
Salary step up is very good.
The new role appears to be a challenge and exciting.
If I were you I’d jump at it.
Myself looking back at what 15++ years ago when I worked in public sector I was on 35 days leave and a 3% 1/60th final salary. Simple job & job for life and walk to work but I’m very pleased I made the many steps between them and now to do what I do.
Enjoying the work is key but also the much higher £ meaning you can elect to retire early / it gives you options.
If that is the case and you are in a job which has no prospects carrying on like that for the next 30-35 years might not be the best possible option.
Salary step up is very good.
The new role appears to be a challenge and exciting.
If I were you I’d jump at it.
Myself looking back at what 15++ years ago when I worked in public sector I was on 35 days leave and a 3% 1/60th final salary. Simple job & job for life and walk to work but I’m very pleased I made the many steps between them and now to do what I do.
Enjoying the work is key but also the much higher £ meaning you can elect to retire early / it gives you options.
Similar but not the same!
Wife was offered a job 60 miles from my work, only £600 a month more than she was already on, BUT, it comes with a fully expensed 3 bedroom beautiful converted barn, with its own acre of garden, a gardener etc etc. That alone saves us £1550 a month.
However, it means I have 60 mile drive each way to work, approx 1 hour 20 min across country. But I have negotiated WFH on a Friday and I can leave work at 4.30.
Its fine, the drive is nice (its across the Cotswolds, so all A road, no motorway jams and nice views), and I will just have to get used to it!
(Probably wont be such a nice drive in winter though!)
Wife was offered a job 60 miles from my work, only £600 a month more than she was already on, BUT, it comes with a fully expensed 3 bedroom beautiful converted barn, with its own acre of garden, a gardener etc etc. That alone saves us £1550 a month.
However, it means I have 60 mile drive each way to work, approx 1 hour 20 min across country. But I have negotiated WFH on a Friday and I can leave work at 4.30.
Its fine, the drive is nice (its across the Cotswolds, so all A road, no motorway jams and nice views), and I will just have to get used to it!
(Probably wont be such a nice drive in winter though!)
Hi OP,
I made the jump when I was 30 into the City, swapping flex-time (2 days off a month!) and predictable hours for, well - less predictable hours. My initial take home (due to travel costs) was lower, so a 85% increase is not to be sniffed at, I've never looked back.
Ultimately, if you don't take a risk, you wont get the reward - worst case, commit a year and you've got more cash in your back pocket. There are a multitude opportunities in town and having a solid network can keep you in work. I'd leap at the opportunity (again) if I had my time again.
I commute from Camberley myself, drive to Brookwood and 35 min train to Waterloo and 3 minutes tube to Bank.
Good luck!
I made the jump when I was 30 into the City, swapping flex-time (2 days off a month!) and predictable hours for, well - less predictable hours. My initial take home (due to travel costs) was lower, so a 85% increase is not to be sniffed at, I've never looked back.
Ultimately, if you don't take a risk, you wont get the reward - worst case, commit a year and you've got more cash in your back pocket. There are a multitude opportunities in town and having a solid network can keep you in work. I'd leap at the opportunity (again) if I had my time again.
I commute from Camberley myself, drive to Brookwood and 35 min train to Waterloo and 3 minutes tube to Bank.
Good luck!
In your post, you don't say what made you look for a new job. If you are ambitious and want to achieve this to that, then fair enough, but to earn a bit more to join the rat race is not for everyone.
Think long and hard, as your description of your current job sounds very favourable from a work-life point of view.
A big question is how easy it will be to return to a job similar to your current one, if it does not work out. If quite likely than a much easier decision.
Think long and hard, as your description of your current job sounds very favourable from a work-life point of view.
A big question is how easy it will be to return to a job similar to your current one, if it does not work out. If quite likely than a much easier decision.
Edited by hyphen on Thursday 24th May 10:21
ReallyReallyGood said:
Do it. You sound like you are in your comfort zone.
Thanks for the encouragement, I think you're spot on. I'm so comfortable, settled and just coasting along.DanL said:
The only thing I’d say is that the pension for a job at that level is a bit poor. Is it a minimum of 4%, but with matched contributions up to a ceiling? For example, my company pay in a minimum level (I forget what) and will match my contributions up to 8%, so I’m getting 16% paid in each month.
Hours - can vary in the private sector, but I’m sure you’ve already got this in the police force. I doubt that you’d be paid overtime on £75k though... For sure you wouldn’t be in a typical office based role.
Lastly - I am in my office at 8:40, and leave promptly at 5:30 each day. Regular hours at this salary are entirely possible, depending on the company culture.
That's good, my hours are set at the minute and very flexible, I can come in at any time almost. I choose to do 7-3 as it means I get out early and have the evening. That's a sacrifice I'm going to have to make and I've just been very fortunate to have that. Hours - can vary in the private sector, but I’m sure you’ve already got this in the police force. I doubt that you’d be paid overtime on £75k though... For sure you wouldn’t be in a typical office based role.
Lastly - I am in my office at 8:40, and leave promptly at 5:30 each day. Regular hours at this salary are entirely possible, depending on the company culture.
The pension isn't that good. I'm not actually sure on if you can overpay, or how it works, but I will ask today. My plan either way is to pay into that pension and put another £500 somewhere, either savings or private pension. I may ask a financial advisor about it.
silverfoxcc said:
Harry Potters uncles house was up for sale recently HONEST IT WAS... and is walking distance to Martins Heron 5mins max
Yes it was! I live about 5 minutes from itJefferson Steelflex said:
This is a good point. I get in at 8ish, leave at 5ish and any other work I need to do is done on the train home or at home after dinner - usually just fannying about with emails and the odd call with overseas places. Depending on the role, if you get laptops and mobile phone you have another angle to make it work for you.
Laptop will be provided (has to be as it's a role that would need it). So, I could have the option to finish someting on train or at home maybe Welshbeef said:
You have not stated your age but noted maybe kids in the next 3-5 years so I’m guessing you are in your 30’s low to mid.
Myself looking back at what 15++ years ago when I worked in public sector I was on 35 days leave and a 3% 1/60th final salary. Simple job & job for life and walk to work but I’m very pleased I made the many steps between them and now to do what I do.
Enjoying the work is key but also the much higher £ meaning you can elect to retire early / it gives you options.
Great to hear things worked out for you, I am 33 years old and one reason for leaving the public sector is I don't want to work to 65, at least not without a choice. I want to retire and actually have a life after, not die 1-2 years later like I see some other unlucky people do.Myself looking back at what 15++ years ago when I worked in public sector I was on 35 days leave and a 3% 1/60th final salary. Simple job & job for life and walk to work but I’m very pleased I made the many steps between them and now to do what I do.
Enjoying the work is key but also the much higher £ meaning you can elect to retire early / it gives you options.
Steviesam said:
Similar but not the same!
Wife was offered a job 60 miles from my work, only £600 a month more than she was already on, BUT, it comes with a fully expensed 3 bedroom beautiful converted barn, with its own acre of garden, a gardener etc etc. That alone saves us £1550 a month.
However, it means I have 60 mile drive each way to work, approx 1 hour 20 min across country. But I have negotiated WFH on a Friday and I can leave work at 4.30.
Its fine, the drive is nice (its across the Cotswolds, so all A road, no motorway jams and nice views), and I will just have to get used to it!
(Probably wont be such a nice drive in winter though!)
I always think you've just got to embrace journeys like that. Podcasts, your favourite radio show, listen to a new album or some nice classical music to relax. Whatever works and means you're not just sitting there bored or fed up.Wife was offered a job 60 miles from my work, only £600 a month more than she was already on, BUT, it comes with a fully expensed 3 bedroom beautiful converted barn, with its own acre of garden, a gardener etc etc. That alone saves us £1550 a month.
However, it means I have 60 mile drive each way to work, approx 1 hour 20 min across country. But I have negotiated WFH on a Friday and I can leave work at 4.30.
Its fine, the drive is nice (its across the Cotswolds, so all A road, no motorway jams and nice views), and I will just have to get used to it!
(Probably wont be such a nice drive in winter though!)
redrabbit29 said:
Welshbeef said:
You have not stated your age but noted maybe kids in the next 3-5 years so I’m guessing you are in your 30’s low to mid.
Myself looking back at what 15++ years ago when I worked in public sector I was on 35 days leave and a 3% 1/60th final salary. Simple job & job for life and walk to work but I’m very pleased I made the many steps between them and now to do what I do.
Enjoying the work is key but also the much higher £ meaning you can elect to retire early / it gives you options.
Great to hear things worked out for you, I am 33 years old and one reason for leaving the public sector is I don't want to work to 65, at least not without a choice. I want to retire and actually have a life after, not die 1-2 years later like I see some other unlucky people do.Myself looking back at what 15++ years ago when I worked in public sector I was on 35 days leave and a 3% 1/60th final salary. Simple job & job for life and walk to work but I’m very pleased I made the many steps between them and now to do what I do.
Enjoying the work is key but also the much higher £ meaning you can elect to retire early / it gives you options.
You currently finish work at 3pm, so you are working part time in the prime years of your life. And you are equating that to giving up your prime years and getting home at 7.30pm onwards everyday, as finishing at 5 for any serious job in the City is rare, which would be after kids in bed, in order to not work when you are past your prime
Questions to ask
- how many years earlier will you retire
- Will your increased salary lead to increased spending. Your new salary may sound a lot, but many people then get a bigger mortgage/private school fees/better holidays and so on. So can you resist the lifestyle upgrade is a big question.
Most people who take on this kinda change, do it because they want more cash or are ambitious, as opposed to accepting the possibility of being miserable for a few decades as a price for early retirement.
Also what are the promotion prospects & salary increases in your current role?
Edited by hyphen on Thursday 24th May 10:58
No chance I’d do that; money isn’t everything, a fair payrise in your case but offset it against the travel, then the poor pension, then the hours over your contracted, the loss of holidays and most importantly the dive in your quality of life.
In my current role, i’m developing my career, living in a nice area, working better hours less holidays, with friends and family; I’m 30 this year and have just took a pay cut from €130k+ to less than half that, but I am x10 happier.
Don’t under estimate the impact of losing the DB pension, my company puts in 20% of my salary for my defined benefit and input in 4% to a defined contribution scheme (they put in 2%), so I have around 30% (with AVCs) per month, I couldn’t get a DB scheme anywhere now.
In my current role, i’m developing my career, living in a nice area, working better hours less holidays, with friends and family; I’m 30 this year and have just took a pay cut from €130k+ to less than half that, but I am x10 happier.
Don’t under estimate the impact of losing the DB pension, my company puts in 20% of my salary for my defined benefit and input in 4% to a defined contribution scheme (they put in 2%), so I have around 30% (with AVCs) per month, I couldn’t get a DB scheme anywhere now.
hyphen said:
If you ever find yourself agreeing with Welshbeef, then it is time to consider your sanity
You currently finish work at 3pm, so you are working part time in the prime years of your life. And you are equating that to giving up your prime years and getting home at 7.30pm onwards everyday, as finishing at 5 for any serious job in the City is rare, which would be after kids in bed, in order to not work when you are past your prime
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Thanks for the response. I spoke to the person who will be manager of the new team and he reassures me they are very flexible. Hours between 7-7 and ability to come in at whatever time suits and do 8 hours. Also flexible to work from home, e.g. 1 day this week... 2 days next week... and back in all week for something that is happening, etc... You currently finish work at 3pm, so you are working part time in the prime years of your life. And you are equating that to giving up your prime years and getting home at 7.30pm onwards everyday, as finishing at 5 for any serious job in the City is rare, which would be after kids in bed, in order to not work when you are past your prime
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I fully agree about the time issue and money not being everything. That has almost tortured me for three days as I've tried to make this decision. People have said I'm in my comfort zone (and I am)... I have 30 years left of work before I can retire, I have no room for progression here and no options for promotion unless I go in to an entirely different job/career path within my organisation - losing the skills I've built up.
Lord.Vader said:
No chance I’d do that; money isn’t everything,
As above, entirely agree. Although living in the South East I'm eager to have the home I want - nothing spectacular, but they're incredibly difficult to afford on £40k a year. It's a gamble, I'm not saying I will leave and find it easy. Some say about being miserable and not enjoying it... equally I may really enjoy it... I may find the commute fairly straight forward (one train home) and that WFH 1-2 times a week takes the stress off a bit.
Either way, doing my job now is easy, 7-3pm and flexible. But I can't do that for 30 years, it's unrealistic and the public sector is constantly under reform and changes. We have moved office 3 times in 5 years.
It's very easy for people to say money isn't everything but it is SOMETHING. The move is also a means to an end. 12-24 months my CV will look tons stronger. I'd have much greater options to look locally for similar money, or a bit less/bit more.
................
Lastly I'm not arguing with you both as you raise entirely valid points. As stated they are things I've been thinking about for three days now, and have slept 1-2 hours each night as I've been scared of the change and leaving my comfort zone which is the Police.
Lord.Vader said:
No chance I’d do that; money isn’t everything, a fair payrise in your case but offset it against the travel, then the poor pension, then the hours over your contracted, the loss of holidays and most importantly the dive in your quality of life.
In my current role, i’m developing my career, living in a nice area, working better hours less holidays, with friends and family; I’m 30 this year and have just took a pay cut from €130k+ to less than half that, but I am x10 happier.
Don’t under estimate the impact of losing the DB pension, my company puts in 20% of my salary for my defined benefit and input in 4% to a defined contribution scheme (they put in 2%), so I have around 30% (with AVCs) per month, I couldn’t get a DB scheme anywhere now.
I think the challenge against this is OPs career isn’t changing or developing in what he is currently doing - or carry on doing the same thing for the next 35years. You might be too old/too non tech savy come the time you do want to move up. In my current role, i’m developing my career, living in a nice area, working better hours less holidays, with friends and family; I’m 30 this year and have just took a pay cut from €130k+ to less than half that, but I am x10 happier.
Don’t under estimate the impact of losing the DB pension, my company puts in 20% of my salary for my defined benefit and input in 4% to a defined contribution scheme (they put in 2%), so I have around 30% (with AVCs) per month, I couldn’t get a DB scheme anywhere now.
Automation of so many jobs is coming don’t get caught in the sudden stampede as those jobs vanish and everyone is desperate to find a job.
redrabbit29 said:
As stated they are things I've been thinking about for three days now, and have slept 1-2 hours each night as I've been scared of the change and leaving my comfort zone which is the Police.
Put it this way - you can take this leap, and see what happens. If for some reason it doesn't work out, how hard would it be to rejoin the Police force? I was under the impression that you guys are crying out for staff, which makes me assume you'd be able to get back in... However, I may be wrong!In terms of the other considerations raised by posters (longer commute, work/life balance, etc.) - they're all valid. However, you live in the South East - if you want to have a "nice" home, somewhere that's not usually on fire, you're going to want to earn more than you are at the moment...
OP what’s your current retirement age in the Force - isn’t it 55yo like the fire brigade on Final salary?
You have x years banked now and know in today’s money if you left what your banked pension would be.
Your new job will not be retiring at 55yo but you can leave whenever you like.
It might be you have enough bigger savings due to more salary that you can match the 55yo but with a bigger house etc.
For those who don’t live in the SE buying in a nice area is VERY expensive multiples of elsewhere which is crazy but it is what it is.
You have x years banked now and know in today’s money if you left what your banked pension would be.
Your new job will not be retiring at 55yo but you can leave whenever you like.
It might be you have enough bigger savings due to more salary that you can match the 55yo but with a bigger house etc.
For those who don’t live in the SE buying in a nice area is VERY expensive multiples of elsewhere which is crazy but it is what it is.
Hi,
I’m in my mid 30’s, I live at Martins Heron and I commute to London daily.
You may struggle to park there unless you arrive very early (unless you’re walking). It may be out of town, but free parking draws a lot of people in. Luckily I live 150m from the station so walk.
As mentioned, 4 trains an hour during peak periods which is fine. I always get a seat. Just get the trains that are quarter past and quarter to as the stop at less stations before MH.
I’ve been doing this commute for a while now c.10 years. It’s tough at times, but I actually enjoy the journey in, it’s only the return journey which could do with being shorter...
As others have mentioned, it will likely open up further opportunities to you (should you want them) and £75k will likely be the start.
Monthly travel card is approx £420. A lot of London based companies will do season ticket loans which gives can reduce the cost a bit.
Any specific questions, feel free to PM.
I’m in my mid 30’s, I live at Martins Heron and I commute to London daily.
You may struggle to park there unless you arrive very early (unless you’re walking). It may be out of town, but free parking draws a lot of people in. Luckily I live 150m from the station so walk.
As mentioned, 4 trains an hour during peak periods which is fine. I always get a seat. Just get the trains that are quarter past and quarter to as the stop at less stations before MH.
I’ve been doing this commute for a while now c.10 years. It’s tough at times, but I actually enjoy the journey in, it’s only the return journey which could do with being shorter...
As others have mentioned, it will likely open up further opportunities to you (should you want them) and £75k will likely be the start.
Monthly travel card is approx £420. A lot of London based companies will do season ticket loans which gives can reduce the cost a bit.
Any specific questions, feel free to PM.
DanL said:
Put it this way - you can take this leap, and see what happens. If for some reason it doesn't work out, how hard would it be to rejoin the Police force? I was under the impression that you guys are crying out for staff, which makes me assume you'd be able to get back in... However, I may be wrong!
In terms of the other considerations raised by posters (longer commute, work/life balance, etc.) - they're all valid. However, you live in the South East - if you want to have a "nice" home, somewhere that's not usually on fire, you're going to want to earn more than you are at the moment...
You can re-join within 5 years, however I'm in a really specialised role which is difficult to get into ... hence why I've been lucky to have developed lots of skills and gain experience to leave to the private sector. (NOTE: I was already fairly strong in IT and worked as a web developer before).In terms of the other considerations raised by posters (longer commute, work/life balance, etc.) - they're all valid. However, you live in the South East - if you want to have a "nice" home, somewhere that's not usually on fire, you're going to want to earn more than you are at the moment...
Either way, yea there's other options if the worst came to the worst.
QuartzDad said:
Another factor to consider is that after 18months of a £75k role it will potentially open up opportunities for £90k+ jobs. IMO you're the ideal age for these significant pay jumps.
Thanks QuartzDad, Other people have also said that about the salary, you can bounce up a lot easier. Where as most usually have go up in much smaller increments to get to the higher end of salaries. Welshbeef said:
OP what’s your current retirement age in the Force - isn’t it 55yo like the fire brigade on Final salary?
You have x years banked now and know in today’s money if you left what your banked pension would be.
Your new job will not be retiring at 55yo but you can leave whenever you like.
It might be you have enough bigger savings due to more salary that you can match the 55yo but with a bigger house etc.
For those who don’t live in the SE buying in a nice area is VERY expensive multiples of elsewhere which is crazy but it is what it is.
Unfortunately not. The government changed it all.You have x years banked now and know in today’s money if you left what your banked pension would be.
Your new job will not be retiring at 55yo but you can leave whenever you like.
It might be you have enough bigger savings due to more salary that you can match the 55yo but with a bigger house etc.
For those who don’t live in the SE buying in a nice area is VERY expensive multiples of elsewhere which is crazy but it is what it is.
The retirement age is 65 and I think it will change again at some point. You can technically leave at 60 but you receive a very small fraction of the pension. I'm not too sure how much better the pension I have now is compared to private, but I think the move may pay off in other ways - like you said, earlier retirement, or paying into a private one. Put it this way, I can't stay in the Police for 30 years more on 40k just for a nice pension.
Spot on about the property in the South East.
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