On the fence about new job opportunity

NotAGolf

NotAGolf

NotAGolf

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I’ve been approached by a former colleague about a new role. I’m on the fence about whether to go for it, so I’m looking for some advice.

I’ve been at my current job for 4 years. The first 3 years were great, but the last year or so the shine has started to wear off. The team I work in is excellent, but some of the leadership has changed which is has led to a "we want more, and we want it yesterday" approach, and it’s getting a bit draining. The company is also growing in size, so things are becoming more corporate which is never fun.

The work itself is interesting and just the right level of challenging vs coasting. It’s well paid, minimal stress, fully remote, and is relatively secure (as best as I can tell!).

Pro’s and cons of the new role:

Cons:
  • It’s 1 day a week in the office. There are two issues with this:
    • It’s a 2hr commute each way, and it’s not a good one. Train into London with a couple of changes
    • Although the contract will state 1 day a week, I’m worried that might not stay that way. Half the team are also 1 day a week, but the other half live nearby and go in more often.
  • It’s riskier. My current role is in a much more stable sector. The new sector I don’t have as much confidence in.
  • Almost certainly more stressful.

Pros:
  • The new company is much smaller; it’s been around for a few years, so isn’t quite a start-up, but it’s close. I’d be the first member of my particular team so it’s a good opportunity to set things up the way I want and I’d have a lot of freedom.
  • A change of scene always livens things up!
  • The package is very good. After factoring in commuting costs, it’s still going to be a at least a 20% bump in salary. There’s also better pension matching, and a chance of a decent bonus too. There’s no way I’d get this sort of bump at my current place, even if I climbed the corporate ladder (which I don’t want to).


My gut feel at the moment is that the main reason I'd go for the new job is for financial reasons, which isn't always great reason to move. Yes more money would be nice, but I'm doing ok already, so I'm not sure the commute and potential risk/stress is worth it. If my current role continues it's downwards trajectory though, I could see me kicking myself in future for passing this up.
 
In my experience, if your role is souring in the company you're already in, then it's likely to be a lot worse come year 2 or 3 from that point. If you leave and it doesn’t work out, you’ve learned something. If you stay and things get worse, you’re just later to the same decision.

The main thing I say to myself is if I could go back, I'd quit my last job 2 years sooner than I did, I somewhat regret not doing that.

I'd say take it. Save the extra 20% salary and live on your current means until you're satisfied about the role. If it's not a great fit, then you have a bit of extra cash stocked up for any emergencies etc if you left.

It's only one day a week as they say, but you can clarify that when speaking to them the circumstances about being 2 hours away so it's quite a commute etc. Most places will be understanding, especially smaller ones.

Nothing beats freedom.
 
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Stay at the old job. 'Riskier' stands out, '2hr commute each way' is also concerning.

Sometimes the grass isn't always greener. 20% more pay isn't more pay if there is additional stress/risk.

The only reason to do this is if the 'Pros' section had 'I've always wanted to work in this industry/for this company/in this role/etc', but it's not in your list.

If you want something new and fresh, find something that's worth taking the risk.
 
Take it imo. The opportunity isn't just this 20% raise. Embracing one opportunity inevitably leads to other opportunities with additional increases and before you know it your financial situation becomes what seemed almost unimaginable in the past. That never happens if you sit where you are making the comfy choices.
 
Is it really 20% more though? Assuming you're a higher rate tax payer you can say goodbye to 42% of that, then take off weekly costs for commuting and that you're now doing 4hrs extra a week. Is it worth it?
 
Teknobry said:
Is it really 20% more though? Assuming you're a higher rate tax payer you can say goodbye to 42% of that, then take off weekly costs for commuting and that you're now doing 4hrs extra a week. Is it worth it?
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That was my thinking, but I assume the tax has been taken into account?

Plus do you have debts, kids? Moving jobs for a 20% increase sounds good but extra commute away from home, plus new job could be less secure than the last job?

What happens if you don’t like it a week in? Can’t go back to the old job and lose all your years service.
 
Have you decided yet? On face value I'd take the new job if the net pay after travel expenses is over 20% higher (wasn't clear from OP if this is net or gross 20%)
 
The only issue I can see is that commute. Personally I probably wouldn't, but I value work from home a lot!

Really, if it was fully remote it'd be a no brainier. But it's how much of a bother that commute is.
 
and make sure the new contract is iron clad ie it specifically states 1 day in office per week only, not 1 day in office or as and when the business requires you to come in.
 
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Thanks for all the feedback all, and sorry for not updating sooner.

There's been no progress so far, I've not even started the interview process yet - this is all very much at the 'what if' phase.

Having this opportunity is making me think more about my current role and what I'm enjoying and what I'm finding frustrating, and I'm finding more things to put in the frustrating bucket atm. I'm wondering if there's an element of wishful thinking and the whole 'grass is greener' mindset influencing this though.

Referring to the new role as 'Riskier' might be a tad misleading. Whilst it's true that I don't have as much confidence in the sector, that's not to say that I think it's risky per se, but when you combine that with the inherent risk of changing jobs, that's what I meant by 'riskier'. As Bounce said, what happens if you leave and don't like it? That's always a gamble when moving jobs (unless you hate your current job!).

I've done some more calcs regarding the finances as I thought it was ~20% increase in take home (after deducting commuting costs), but one thing I overlooked is that unless I put a salary sacrifice a huge amount into my pension, I'll lose all my child benefit. The salary is negotiable, but I'm assuming the ballpark. It's still a decent bump on the pension side, and there's the chance of a bonus, but potentially not as lucrative as I first thought.


ivrytwr3 said:
and make sure the new contract is iron clad ie it specifically states 1 day in office per week only, not 1 day in office or as and when the business requires you to come in.
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I'll definitely make sure of that, but does that really mean much? Can't they just change the contract and it's a case of accept it or leave?
 
NotAGolf said:
I've done some more calcs regarding the finances as I thought it was ~20% increase in take home (after deducting commuting costs), but one thing I overlooked is that unless I put a salary sacrifice a huge amount into my pension, I'll lose all my child benefit. The salary is negotiable, but I'm assuming the ballpark. It's still a decent bump on the pension side, and there's the chance of a bonus, but potentially not as lucrative as I first thought.
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Sounds like future NotAGolf will find it extremely lucrative.

Anyway, compared to all your future raises being on a much higher base, worrying about losing your child benefit is a false economy in the long run.
 
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