To take the money and go?

[Coastalcommand]

I've been in the same job since leaving university and I have always loved it.
In that time I've worked my way up to a good level of pain albeit with some fairly unpredictable at always very long hours. Given the current instability around Brexit my job is starting to look less secure, as is the whole sector I work for. For the second time in six months we are all being offered voluntary redundancy.
I'm currently on maternity leave and absolutely loving it, so much so that I've been dreading putting my baby into nursery when I go back to work.
There's also the issue that my husband and I both work long and often fairly antisocial hours so when I go back there will be a fair bit of juggling in terms of childcare and our little one will be in nursery from 7am-6.30pm five days a week.
The voluntary redundancy offer is really quite generous, over a years wages for me. I am tempted to take it, mostly because I'd love to spend more time with our baby but also because I suspect the next time redundancy looms (and I think it will) it may not be voluntary and the terms may not be as good.
We keep hearing that similar firms are now only offering statutory redundancy packages rather than our legacy terms.
Given that nursery fees would take up more than half my wages and we could live on my husband's wages (albeit not as easily) AIBU to take the offer?
Given that my industry is contracting I would be v unlikely to get a similar job. My plan would be to use the year I'd be paid to develop transferable skills and try to launch my own business in future.
Am I being stupid to leave a well paid job in this climate?

I had this exact situation, offered redundancy whilst on matl leave, knew going back to that job and juggling childcare would be awful.

So snapped their hand off, stayed at home with baby until 18 months old.

then took a part time job that balanced with some nursery hours, the break from each other benefitted me and little one.

now she is at school and work have allowed me to change to 5 days a week but 9.30-2.30 so I can do school run every morning and afternoon.

I have been very lucky in being able to get this work/life balance and not all employers are so flexable so I know I am lucky.

If you do it make sure payment falls into next tax year.

I hope I'm not derailing the thread but as I have a child I thought I'd give my experience. I started working full time when my child was 2 nearly 3 I worked part time and Uni until then. Last month her behaviour deteriorated and she was in nursery from 7.45am-6pm everyday. We sat her down and she said and I quote 'Im always at nursery and I miss my mummy and daddy everyday' I cried she's quite emotional for a 4 year old. Ive changed my hours and she now goes to nursery 25 hrs a week but because of my changing rota I have to pay full time hours but i just can't give up my job Ive worked hard for . My own opinion is that these babies of ours grow up so quickly and I was missing the important years with her and she was obviously missing me . Since then her behaviour is better no word of a lie. If its what you want in your heart of hearts quit you don't want to look back one day when your old and retired and think damn I missed it. Im happy you ave such a supportive OH Best of luck

I'd go for it - puts you in a lovely position of having a year's wages whilst looking for something else and getting childcare ducks in a row.

I would also ask the voluntary redundancy team about retraining options. Quite often they will have connections with a college and will pay (or negotiate lower prices) for those who volunteer for redundancy to train in some other field. Find out what the full offer would entail, not just the cash headline.

Take it! (Assuming you've factored in that the first £30k is tax free as well? Makes a big difference to how far it goes). People talk a lot on here about "playing the long game". It's not a daft point of view....BUT what it misses is how unpredictable the future is. Technology is affecting all sorts of jobs, so the dream job in 5 years you hang on in for now just may not be there in 5 years. Or may not pay as much as you thought it would.

Plus - if you go back on shortened hours, your redundancy package will reflect that new reality, no matter how long you've worked full time.

Similar thing happened to me, actually, I grasped the generous redundancy rather than take another job and try to negotiate part time. Was bloody glad I had done too, as the job I'd have taken was subsequently made redundant 2 years later, so I'd have had all the hassle of working, the cost of childcare and missing my baby - and still would have ended up in the same position but with less money as the redundancy wouldn't have been as generous.

OP you are in a position most dream of, if you can manage financially then grab the opportunity to enjoy your baby ,(less stress may even mean another pregnancy)

Consider using some of the money to set yourself up in a small home based business rather than letting the time and money go by ......

Keep a really open mind and investigate every possible business idea, l have a friend who has opened a nail bar, doing shellac nails, in her annex room, and is happily earning over 30K around her two school age children, it is also very tax efficient, previously she was a lawyer!

Good luck

I'd take it immediately, but my line of work lends itself to freelancing (though I'm currently employed), so I would always have that as an option. How realistic is the prospect of successful self-employment for you?

Take the money and look after your long awaited dc.

They are only small once, you'll live to regret them spending so much time in nursery.

I'd do it, cost out how much you will need to 'pay' yourself monthly to be comfortable and it could last ages.

Reading your post, it's clear you know what you want to do, it's just the little voice of 'but what if...' on your shoulder that's stopping you. Realistically, you know your job could be on the line in a year or so anyway, so take the better VR option now while you can. Cut your cloth while you're on mat leave so your money lasts longer and use the time you're off to think about transferable skills and what you could do in the future. Enjoy the time with your little ones - it's a no brainer, really.

I took voluntary redundancy after DC1, as I could see the role on offer if I stayed was incompatible with a baby and I was worried I wouldn't manage it. Contracted, freelanced, all worked out OK, took another permanent job when DC2 was about 2. At a lower level, but more fulfilling work than original job.

In this period my DH changed jobs a few times, more redundancies, some unexpected periods of ill health. It was tough neither of us having guaranteed rock solid employment.

So I would say yes, do it if

1. you have a plan for what next. Don't just stay at home because you are enjoying your baby, try to keep in the workplace or education/retraining as the next steps will be easier if you look at it long-term now rather than panicking when 3 years have passed by and your baby is coming up to school age. As PP have mentioned, you should get lots of retraining advice - take it all, no matter how hard it is initially to juggle with childcare.

2. your DH has a reasonably secure job with good benefits and you're all insured for ill health etc.

3. your DH is not the sort to just want a SAHP who does everything, and will get too used to the convenience of you being at home to facilitate everything, but will actively support you in childcare/domestic arrangements etc as you try to find a new role...

I do not understand why any couple who can manage on one person's salary both work when they have small children - that time is so precious enjoy it while you can.

Because I enjoy work and much as I love my children, I am not the sort of mother who wants to spend my life at soft play, rhyme time and crafts or doing the school run bitch fest.
Because not working was damaging my mental health.
Because the counter argument is that by setting an example from an early age, I am not presenting a stereotype of motherhood to my children.
Because we are all different.

I would be inclined to take it if the likelihood is that your job won't be there long-term anyway as pp's have said.
But do push on with upskilling yourself and starting your business and have a workable back-up plan.
I wanted to take 2 years max to be at home with my LO's but in fact it's been several years and although I am desperate for work I seem to be invisible to recruiters.

For me that's a no brainer. I would take it in a second!

I do not understand why any couple who can manage on one person's salary both work when they have small children - that time is so precious enjoy it while you can

Really you can't understand?

I've spent years building my career and I love my job.

I am not the sort to be home going to baby groups and doing baby things all day.

I don't want to rely on dh for money, I want my own thank you.

I don't think it's a difficult choice to be honest, take the redundancy offer safe in the knowledge that you'll have a whole year's wage to fall back on; Spend the first 6 months relaxing and enjoying motherhood, then the following 6 learning a new transferable skill/securing a new source of income.

I'd take it in a heartbeat!

sparkletwinklegoldglitter
I agree worked hard to have a career and a daughter wouldn't want to give it up completely and when she's grown up have nothing. Want her to realise the importance of working for her own money too and having a nice job fulfilling her potential. She could be a doctor and save lives ;]
But I would take part time now and do the same job if I could

What does your husband say? It's a big decision that should be made as a family.

Sorry just read the update.

I would want to talk through the details with DH and have a strong agreement about what will happen in different circumstances and what our expectations will be.

I did it. I went back to work after DC1, but after DC2 we weren't going to be making a lot of money, especially with our debts and two in full time nursery. I was on maternity leave when the offer for voluntary was made. I ruled it out initially, but then I thought about it and crunched all the numbers. I was offered six months full pay, and it was a company I knew was unlikely to start turning things around.

The payout paid off my debts and we could survive fine on one salary. A year later, the rest of my colleagues were given compulsory with nowhere near as good terms and the company disappeared.

I ended up quite depressed to begin with, as giving up my job took a lot of my identity with it. But I found new things to focus on and in the end I took an eight year gap, through choice as we had another two DC. With me at home, my DH was able to focus on his career more and ended up with some fairly hefty pay rises.

Technically I didn't have to return to work but I missed it and as the children got older it was important for me to get some of "me" back. So I'm now back at work for a different company doing the same thing at the same level, similar salary, full time (I'd love part time but realistically you only get that after you've been somewhere a while at least in my industry).

I realise I'm probably very lucky, but it is a success story all the same. You know your industry best in terms of returning to work, in my case it helped there is a bit of a skills shortage. I can't deny I wasn't worried as time went past as to whether I could get back in again, but in the end it wasn't as bad as I feared.

Good luck with your choice!

Take it.
It gives you time to decide your next steps and time with the little one.

I'd totally do it - can you imagine how shit you'd feel if you didn't, returned to work and then were made redundant compulsorily with a less generous package?

I reckon that given the likely problems in your industry, getting out now and using the money to retrain is actually the 'head' option as well as the 'heart' option. And if you can live on DH's money, anything left over from the training could be paid off your mortgage or otherwise invested for your family's future. I think it's a really brilliant opportunity for you.

I do not understand why any couple who can manage on one person's salary both work when they have small children - that time is so precious enjoy it while you can.

Because I have a career I worked hard for and don't want to spend my time at toddlers groups. I am demonstrating to my DC's the benefits of working hard at school, Uni and work. I am a high earner with a many career opportunities and DH and I have jointly raised two great DC's.

I wish my bloody employers would give me a year's salary to bog off into the sunset. Do it.

It reminds me of when people complain about someone selling out. I wish someone would give me a chance to sell out. I'd sell out so fucking fast my feet wouldn't touch the ground.