Job offer, take it or leave it.

Soldato
Joined
22 Oct 2004
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13,367
Been offered a job with a small business that's making me do cartwheels in my head.

New job pros:
Always wanted to work for them.
Small business with every individual being the top in their field, will learn loads from them.
Potential to earn more than I could ever be on in current job.

New job Cons:
Wont have my prudential government pension anymore, instead I'll have just the mandatory one that all business must have.
Starting salary is slightly less to begin with, so would have to decide if the long game is more Important.
 
Soldato
OP
Joined
22 Oct 2004
Posts
13,367
Current job pros
Cushy and relaxed, know how to do my job, no pressure and very flexible in how I do my work.
Government pension.
Pay rise incoming and over the next year or two due to a training program I am on.

Current job cons.
Getting a bit bored on some days, but ain't that any job.
Training matrix gonna get hard to impossible to complete due it being just me in my field of work, so I can only teach myself so much. Unless my manager tailors it a bit better, I wont complete it and get the good salary at the end.
No team, can't learn much, gonna be stalling very soon.
 
Soldato
Joined
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Not here
If your current job is lacking the ability for you to learn and evolve then take the new job offer. As it will benefit you later on down the line, despite the small pay decrease.
 
Man of Honour
Joined
29 Jun 2004
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21,490
Location
Oxfordshire
Definitely take the new job, sounds like you'll be surrounded by the right people which will only help you longer term, financially as well with potential doors that will open
 
Soldato
Joined
8 Jun 2013
Posts
4,363
Been offered a job with a small business that's making me do cartwheels in my head.

New job pros:
Always wanted to work for them.
Small business with every individual being the top in their field, will learn loads from them.
Potential to earn more than I could ever be on in current job.
the first point would be the clincher for me, the rest is just gravy.
 
Soldato
Joined
22 Nov 2006
Posts
23,304
I'm in a similar situation where I can stay in a comfortable work place. Or use my experience and take a much higher wage (but more stress and longer commute) elsewhere :/

Money isn't everything tbh.
 
Soldato
Joined
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Not here

Staying in a job just because it has a good pension is the old skool way of thinking and shouldn't be applied to today working world. Especially when the government always move the goal posts.

I'm in a similar situation where I can stay in a comfortable work place. Or use my experience and take a much higher wage (but more stress and longer commute) elsewhere :/

Money isn't everything tbh.

Coming out your comfort zone and aiming for a higher wage doesn't have to mean more stress etc.
 
Soldato
Joined
25 Aug 2006
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6,339
Staying in a job just because it has a good pension is the old skool way of thinking and shouldn't be applied to today working world. Especially when the government always move the goal posts..

I am 26.5yrs into a Final Salary pension, each year i stay, the pension payout goes up around £700 pa and my contract is for 30 years.

Tell me why i should leave this pension to start at the bottom of another pension?

All i am saying is, 'one shoe size does not fit all' - you must look at each situation individually and not broad brush ie "You should never stay in a job just for the pension."

As for:

Especially when the government always move the goal posts.

How is that working out for the Government? The Judges have proved age discrimination and have had their old pension reinstated as have the Fire Service - next in the firing line are the Military and Police.

The Government have royally messed up and to sort for the military alone will cost an extra $4bn per year because they thought pensions were an easy target - their mistake was targeting the judges first - legal experts in every sense of the word!!
 
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Soldato
Joined
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Not here
I am 26.5yrs into a Final Salary pension, each year i stay, the pension payout goes up around £700 pa and my contract is for 30 years.

Tell me why i should leave this pension to start at the bottom of another pension?

All i am saying is, 'one shoe size does not fit all' - you must look at each situation individually and not broad brush ie "You should never stay in a job just for the pension."

It's not about starting another pension at the bottom. I left a decent police pension to moved to another country and earn higher wages. Yeah my pension will get restarted but pension is the last thing you should be thinking about if better opportunities are elsewhere to earn more.
 
Soldato
Joined
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6,339
It's not about starting another pension at the bottom. I left a decent police pension to moved to another country and earn higher wages. Yeah my pension will get restarted but pension is the last thing you should be thinking about if better opportunities are elsewhere to earn more.

So the old police pensions were 30 years for an Immediate Pension at Final Salary - are you saying you left at 29 years service and therefore missed on £100k+ lump sum and £20k+ pension? Or did you only do a few years service?
 
Associate
Joined
21 Nov 2007
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Location
Fleet, Hampshire
So the old police pensions were 30 years for an Immediate Pension at Final Salary - are you saying you left at 29 years service and therefore missed on £100k+ lump sum and £20k+ pension? Or did you only do a few years service?

The original point was that you should not stay in a job just for the pension. If someone offered you much more money now, a more enjoyable job with better prospects and you took a small hit in the pension would you not move?
 
Soldato
Joined
25 Aug 2006
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6,339
The original point was that you should not stay in a job just for the pension. If someone offered you much more money now, a more enjoyable job with better prospects and you took a small hit in the pension would you not move?

It depends - i would look at each option, as per MY original point. Small hit - yes, large hit, most likely not.

Police pension - immediately payable after 30 years service. Military pension - immediately payable after 22 years service (although those timelines are changing).

Take for example the police pension - why would i move to another job if i had completed 29 years service? I would miss out on £100k lump sum and £20k yearly pension (which would be payable after 1 more year service). The wage at the new job would have to be phenomenal to make up that shortfall.

It is what we call 'pension trapped' :)
 
Associate
Joined
3 Dec 2008
Posts
489
I am 26.5yrs into a Final Salary pension, each year i stay, the pension payout goes up around £700 pa and my contract is for 30 years.

Tell me why i should leave this pension to start at the bottom of another pension?

All i am saying is, 'one shoe size does not fit all' - you must look at each situation individually and not broad brush ie "You should never stay in a job just for the pension."

I also wouldn't base my working career on the possibility of a better pension at the end of it. So many things can happen in your life that would prevent you from even benefiting from that pension to start with - would I waste 30 years of my life doing a job I did really like just because of the great pension at the end, knowing the increasing risk that I may not even be around to draw on it.. nah. I also know at least two people that were on track for a final salary pension and then for whatever reason had been made redundant and thus not qualifying for it anymore.

Go for the job OP, knowledge and experience is king. It's much easier to go backwards than forwards in life.
 
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