To turn down £70k salary

[Plonker85]

I’ve been headhunted for a job with a property developer. They’ve offered me £70k plus benefits plus likely 4 day week (I have young children).
My current salary is £50k with local government and its flexible, I can leave early to pick kids. And I know the job inside out.
It’s such a tempting offer but I just want a work life balance and not have to prove myself over again by starting a new job.
Am I mad to turn this down?

No you’re not mad to turn it down. I had almost exactly the same dilemma a few years ago and I chose the 50k. Because I work from home and it’s flexible so I can drop off my dc and collect (most days) without having to use school clubs. I’d take the flexibility and home life over an extra 20k every day.

I would be less swayed by the salary and reading the pension provision small print very closely.

What is with people with the smart comments? There are a few of us that can relate to this scenario so why not leave it to those who want to help rather than having an unnecessary dig.

I went from Local Govt to private consultancy 12 years ago and never looked back - but I would say to really check out the culture of the company and set out your terms and conditions clearly. I work condensed hours but really flexible when I need it to be.

Don't dismiss it but do set your stall out to see if they're the company for you (if they are not, there will be no doubt be others along to offer you the right opportunity).

I work in central government so I'm not sure if it's the same, but I moved from private sector on 50k to government on 49k but the employer pension contribution means that the 49k is worth more like 60k! Plus the public sector flexibility, and feeling like I'm making a real difference. That's before the job security, working from home when ministers aren't in (purdah, recess, Fridays) and if I was to become sick, sick pay, and 6 months FULL PAY maternity.

What do you want - do you want a comfortable job you can do with your eyes closed, or do you want a challenge and to get out of your comfort zone? There's your answer.

Thanks everyone. Some good suggestions on here which I’ll think about. But I still feel it isn’t the right time whilst the children are young. I’m based in Kent, so SE.

FFS OP isn't saying she's complaining about it just asking for advice. Bitter much?!

I was in a position last year where I was offered a job with more money (but quite a long commute).

I turned it down as I felt more secure in my current job and it was an easy commute. A few months later and I was made redundant. Sucks to be me.

God, who are these people who are being sarky and rude, just because you don’t earn so much money? Are you suddenly exempt from asking a question about jobs once you earn over a certain salary? How bloody bitter and stupid. I ‘only’ earn 35k, I can’t imagine ever earning 70k, but I don’t for one second imagine that anyone who does earn that much (potentially) isn’t allowed to have any money worries/uncertainties/questions. Get over yourselves!!

Lord almighty from some of the replies you'd think the OP had just asked which of her children she should sacrifice to Odin. It's a totally fair dilemma - higher salary but more pressure, lower salary and less pressure. It shouldn't really be that hard to find it in yourself to see that if you were in that situation, you might also find it a difficult decision to make.

I'd work out the small print of the respective salaries veery carefully - pension contributions, holidays, hours, commute costs etc. It could well be that taking it all into account, the salary increase is virtually wiped out, especially if you have three kids and the CB hit could be equivalent to about 6k a year in pretax salary!

The fact it's 4 days a week is a massive point in favour of new job, though, and suggests they are potentially also flexible re hours? Could you work the 4 days over 5? Not all 70k salaries involve selling your soul and being available 24/7, by any means, though I'd guess more so in property development than elsewhere!

Go for it. There's never a right time with children. As long as they sleep through the night and you have support, then do it. You can always go back if it is too hard.

No amount of money would have encouraged me to work at all when my kids were young, so it's a personal decision that nobody can decide for you. Certainly not random people on t'internet
Good luck with what you decide though.
I can't imagine earning 50k let alone 70k, and have no idea what I'd spend it on except 70k of luxuries, would much rather have a life.

I also work for a property developer. It's exciting and challenging.

An 80ths pension plus 3 X annual pension in tax free cash costs more than the employer and employee contributions. It is about 25% of someone's salary pension obsessive IFA

Well you would pay quite a lot of tax on the extra £20k. So it probably wouldn't be worth it if you have a cushy number now.

Just to challenge some people's assumptions here - It is absolutely possible to earn £70k and above whilst working flexible hours for an employer that doesn't expect you to prioritise them over family.

dontcallmethatyoucunt

In central government my pension is 1/42 my civil service colleagues had no idea how good they had it until I described my (still good) matched to 4% defined contribution scheme...

70k of luxuries

gillybeanz I can only imagine then that you have a partner who earns a pretty good salary allowing you to stay at home when your DC were young and for any amount of 2nd salary to be spent on luxuries. Perhaps op is not in this position and her salary is needed for essentials or she is the breadwinner.

I can't imagine earning 50k let alone 70k, and have no idea what I'd spend it on except 70k of luxuries, would much rather have a life

Don't worry about luxuries, tax, national insurance, student loan repayments and pension contributions could easily take up about £25k of a £70k salary and another £25k or more could easily go on mortgage/rent, council tax and other bills, travel to work, basic food and childcare.

A £70k salary might sound like the OP would be rolling on a mattress of £50 notes every night, but the reality is often far from the perception.

It's nice for those who can choose to 'have a life' without having to work, but that is definitely a luxury not available to everyone.

Something else to think about OP, and I might be way off the mark here, but are you currently in planning, building control or something similar?

Is there a risk that the property developer is expecting you to use your contacts at the council to 'grease the wheels' in their favour?

You’ve been headhunted, so god at your job.
Stay put for now, you’re lucky to earn a good salary & be flexible for your kids.
Go for the interview only if you don’t think they could be a potential employer in a few years. You could write and say, now is not the correct time for you, but can you come in to have an exploratory conversation?

It’s basically an extra £1k a month in your pocket.

As long as your other benefits (and pension!) are as good that quite a lot to turn down.

70K on luxuries indeed. Hats, maybe?

Stay as you are.
Because -

1. The current job suits your whole work/life balance (inevitably the new role needs more hours until you are established at least).
2. Total benefits package probably isnt massively better, inc employment security in that.
3. Don't underestimate the impact of the change, it can be awfully hard to handle (no matter what level you're at). Headhunters have been known to exaggerate new roles - what would you do if you weren't happy there?
4. It's almost as good for your cv to "just" be offered the job v take it - in fact it shows employer loyalty (a rare thing) & considered decision making.

You may think I'm pessimistic, whereas I'm trying to be protective of where you are now.
Best wishes with making your decision!

The fact that you’re asking a bunch of strangers means it’s not what you want to do