I am lucky enough to be in a job which I really enjoy, well paid, plenty of profile and opportunities. Been there 4 years, can WAH, working on projects which are fundamental to our organisation's success so hopefully won't be amongst first to be let go anytime soon. Should it come to that. Am 34, child-free by choice (and intend to keep it that way), DH earning as a contractor.
However, I have gone for and just been offered another role. About 30% pay rise, incredible pension and benefits, plus access to amazing bonus opps, offers me the chance to shift into an adjacent and more lucrative field to the one I am currently in, lovely organisation and culture.
Taking this job would be excellent for my long term career prospects too. The chance to shift into this field from where I am now is very, very rare and I only heard about it on a personal recommendation from the man who did the role before me. What I would be doing is, I like to think, fundamental to this new place too. But is part of a sector whose business model will be upended by Covid-19 for a while.
Should I take a risk and take the job? Knowing that 6 months in they could make me redundant and my statutory pay would be less than it is now? Large organisation and financially prudent but still, who knows what the future will bring. And what happens if it is last in first out?
I have about 4 months' salary in savings and investments. My DH also has sizeable savings as well as our joint nest egg. Good equity in our flat. Outgoings are lowish - we both earn very well currently but both came from very little so always a bit paranoid we will go back to the breadline and accordingly frugal.
Having written it out, I think I am tempted to a "yes". I am by nature risk-averse. What would you do? Have I missed anything? Is there anything else I could do to either ascertain how secure the new job is or to make sure I have a safety net?
I know that this is a nice and extremely privileged problem to have. But my childhood was marked by a lot of financial insecurity (hence I deliberately went into a lucrative profession) and I am lucky enough never to have been unemployed and I want to keep it that way. Or at least make sure I go into this with eyes wide open and as well equipped as possible.
Take it and use the 30% extra to build your savings up even further. Use the new opportunities to build your network further, so should the worst happen you’ve got great chances of getting another job.