Change job or not? Advice needed

[Goldman Sachs]

The initial message was deleted from this topic on 07 January 2025 at 21:12

[essayer]

You don't get many opportunities like this in life. More money and a better title? Of course they'll want more from you. I'd take it.

Goldman Sachs said:

Most of my work revolves around being an advisor for my boss, who is a Director. I suggest improvements and things we could change to make the business run better, I write reports for him, I attend Executive meetings and Board meetings, and put forward proposals, assist with the management of the staff below us, and so on.

I read this as 'I'm doing my boss's job for him but not getting the salary or the recognition'. (No offence - I'm in the same position!). Easy to get comfortable doing this, but you won't be doing your career any favours...

Edited by essayer on Wednesday 10th April 10:42

[Gary29]

If it were me, I'd stick with what you've already got, sounds like you're on to a good thing.

It's a big roll of the dice to upset the apple cart for an extra £15K.

Unless your goal is to climb the corporate ladder as high as you can.

[enzo_ferrari]

Tricky one.

It seems like you’re on to a good thing with your current role tbh.

What price do you put on the flexibility? I think once you work out the net difference in take home, it’s probably not that much.

You could always raise the offer with your current employer, saying you want to stay but ask for an uplift and title change? It could upset the apple cart though…

Best of luck.

[smn159]

I'd agree with Essayer. Only exception being if you're only a few years from retirement. Otherwise it's a great opportunity.

Bit of a cliche, but consider where you want to be in 5 years. Easy to get comfortable and stay where you are, but I suspect that you think that you can achieve more.

In your position I'd go for it.

Edited by smn159 on Wednesday 10th April 10:49

[worsy]

Age and plans for retirement?

If I was 55 and thinking 5 more years I'd stick, if I was 35 and looking to grow my career, I'd move.

[BrabusMog]

Certainly one of those "nice to have" problems! Is there any likelihood of your current boss leaving and you replacing him and, also, what if he left and someone else came in and rode you a bit harder in your current role? I would roll the dice and leave if you want career progression, but that's just me

[ATG]

Have you asked your current employer for a change of job title and/or a pay rise? Have you discussed your wish for career progression ... i.e. a path to more responsibility and more cash?

[okgo]

Not even close to enough money to change the status quo.

[Jag_NE]

Personally I’d stay:

It ain’t that much more money net and it won’t make a big difference to your quality of life.

The loss of flex may have a meaningful impact on your quality of life.

New entry at that level can be high risk. It can be unforgiving and there’s a possibility the company cultures are chalk and cheese. I’ve seen several people burn over the years.

Change can happen at the most unexpected times and in unusual ways. If you are grafting and those above are dossing, it will get noticed.

100% stay

[Hoofy]

Can you imagine doing the same job you're in for the next 10-15 years? If the idea of doing that makes you die a little inside then grab this new opportunity.

OTOH if you're winding down your life (it doesn't sound like you're doing this), then stick with it until you retire.

[Zarco]

okgo said:

Not even close to enough money to change the status quo.

My take too.

[StuTheGrouch]

I'm also in the 'stay' camp. The jump in salary isn't worth it for the potential change in working conditions.

I would have a frank conversation with your manager and say that you desire to progress, increase earnings, enjoy the culture of the current place, like working with him etc. See what he can do.

The other factor here is your mortgage. If you are a few years away from paying that off then your disposable cash is about to increase substantially and probably have a far greater impact than a £15k salary increase would provide.

So, pay rise at current place plus paying off mortgage, you could be looking at a comfortable early retirement. If you want more responsibility and a challenge, surely you can get that at your current employer (especially with a revised job title, as suggested by another poster).

[shtu]

okgo said:

Not even close to enough money to change the status quo.

That "£15k" is gross, so about half that net? About £150 a week more I reckon, and you lose the flexibility, good working relationship, get a whole load of extra duties, staff to manage, etc.

(edit - and if the new company is as demanding as you suspect, what are the odds you'll be, say, working through lunch and an extra hour in the evening to keep up? Congratulations, you're now lower-paid.)

Not enough money to tempt me. Not nearly enough.

ATG said:

Have you asked your current employer for a change of job title and/or a pay rise? Have you discussed your wish for career progression ... i.e. a path to more responsibility and more cash?

That's what I'd be doing. Have a conversation about it with your existing lot. If the relationship is as good as you say, odds are they'll offer you something to keep you. Best of both worlds, bit more money with all the existing good relationship and flexibility.

I'd talk not just about £££ now, but about what you can be doing in a couple of years, what else you could bring over and above what you do now, etc.

Edited by shtu on Wednesday 10th April 12:02

[Jamescrs]

I’m in the stay camp.

It sounds like you have a really good setup as it stands with a good work life balance. I’m sure they pay increase and title would be nice but at what personal cost? Are you prepared for the greater intrusion into your home life if they expect you to work longer hours, or take work calls at home during the evening and weekends etc?

If it was me in your position I’d be staying where you are, I do admit though that I’m not as career focussed as some and very much in the work to live camp.

[Crudeoink]

If you get on well with your current boss id ask about the possibility of a Title change and a pay rise to circa 80k. The current gig sounds pretty good and i've jumped ship for an extra 10-15k before and it wasnt worth it. You lose 40% in tax, possibly another 9% student loan so really the jump is worth 7500, or 650 ish a month. Add that onto not being able to be flexible with working hours, taxing on more stress etc. Suddently doesnt make sense for £35 a day really, especially if you're having to visit the office more often too

[geeks]

Zarco said:

okgo said:

Not even close to enough money to change the status quo.

My take too.

Also mine.

I would be asking for a title review (some extra money never goes amiss either) at my current place so it can be lined up correctly for when the boss moves on and you can move up a level

[Jonathan27]

If I were you I would stay. In fact when I had a very similar situation last year I decided to stay. My work load is similar to yours, I'm about the same age and I was offered a role with higher pay (>£60k more that I currently make). But I felt that a) the risk associated with a move and b) then lifestyle that I have in this role, couldn't be justified by the pay uplift.

This is of course dependent upon what the extra money would mean to you. I make more than enough and didn't feel that extra stress and effort was worth making more as it wouldn't really make a major financial difference to my life.

You don't want to be sat in the office at 10pm stressed about deadlines and pressure, wishing you were having a beer with your old boss or playing crazy golf.

[worsy]

Goldman Sachs said:

worsy said:

Age and plans for retirement?

If I was 55 and thinking 5 more years I'd stick, if I was 35 and looking to grow my career, I'd move.

I'm 40.

No plans for retirement yet. Pension is just what I've built up over the years from working so far and isnt bad as I've always had reasonable to good pension schemes. It's nothing mind blowing though.

We live in a really nice 4 bed house and our mortgage is almost paid off. Probably be mortgage free in a couple of years as we are chucking money at it. This is mostly due to us making some smart property moves over the years, and doing a couple of big renovation projects ourselves to move up the ladder faster for less money.

Wife earns £54k.

This is partly why I'm not immediately jumping at the new job and more money. After tax our household income is around £8200 a month which feels a lot to us, and we generally have a couple of thousand, or more, spare each month, and save it all up then put into high interest accounts and/or throw it at the mortgage.

But, I do want to progress and more money is usually better.

I didn't offer an opinion on what you should so but I see that many have since done so. For what it's worth, I would place more value on the flexibility and slower pace of life. As you get close to that 100k the barrier of losing your PA causes many people to squirrel money into pensions and such like.

I think you would be mad to move but then I'm toward the age of retirement, albeit with 10 years or so to go until I would like to consider retirement.

[Monkeylegend]

Depends how hung up you are on a job title it seems to me.