To leave a permanent job for a fixed-term contract?

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Just that really.

No kids, just DH and me. He earns well. Been offered a great role but it’s fixed term. Current role is permanent and have been in it a long time.

New role is v interesting and feels like it would be a good career move but people are telling me I’m mad to give up the security. Am I?

Has anyone else ever done this, and if so why?

My husband took a leap from permanent post to a fixed term contract in different field
Best move he has done loves his job which is now permanent
Sometimes if you can do a leap of faith it can be a life changer
Good luck

I’m generally pretty gung ho when it comes to risk. But you do need to assess that risk and for that you haven’t given enough detail.

Ultimately the questions you need to ask are if your partner’s good earnings are enough to cover you while you get a new job of the fixed term doesn’t extend (when we might have 20% Inflation). Are they willing to support you if it comes to it? For how long can he cover. How long does it take to get a new role in your industry in your area? Is it an area which is likely to be protected from redundancies?

What are the chances of the role being extended? Will it increase your earning power, your quality of life etc.

good luck! It’s always exciting to get these opportunities.

In normal times I'd say go for it, however we are about to fly head first into possibly a very deep recession and with demand falling away odds are unemployment is going to start to rise again soon. How stable is the other halves job? Also what sector are you both in? Is it one that is likely to face challenge should demand dry up?

I'd personally not at this point move from a stable job, in a poor economic set-up you will be the first person who is likely to be taken off payroll as you will cost 0 in redundancy once the fixed term is up.

Go for it!! I did it twice and both jobs were 3 month contracts that lasted 4 years or went permanent.

The first time I just had to leave, I was essentially bullied but didn't realise it so didn't get help, was very young so applied for any job to get me out. Turned out to be a great job but I left after 3 years when colleagues left and the atmosphere died, and they started taking the p out of us and my new manager wouldn't do anything about it.

Second time was after redundancy and I wanted a total change so thought "oh well, it's only 3 months if I don't like it" and it was so great! Stayed 4 years and was such an interesting time and learned so much. I could have stayed permanently in a different role but chose to move on as the project team was split up and I knew it wouldn't be the same after and I was right.

Hope that helps and good luck!!

It depends how easily you would get a job if the fixed term contract post didn't lead to anything else.

I did it (about 7 years ago) and it turned out well. The fixed term became permanent and I'm still there (plus promotion).

But I was very sure that if it didn't work out I would get well paid work elsewhere. I work in a field where you would never be unemployed. I did really have anything to lose.

Thanks all for the very thoughtful and helpful advice. To answer a few questions:

DH works in software so he’s got absolute job security and no issues with earning potential.

Mine is a bit more limited - I work in public policy (think working with, but not for, government etc) so am never going to be a high earner 😁but I’ve got a good reputation and other options that could tide me over if I don’t get another contract after this one (there’s no scope of it being extended, but possibly a chance of being offered a different - also good - role at the end).

I think it is the right thing to do for my own happiness and career prospects, but having been very poor in the past and having grown up happy but poor I’ve the hangover of Needing To Provide and Security Above All Else. It has held me back before, and I’m trying not to let it now, but it’s a tough thing to shake off.

All else being equal I would absolutely go for it.
I did do it once and I regretted it because the contract was a hellscape, but that being said I still know that the benefits outweigh the risks usually. I am in the middle of doing something similar myself right now (again) and despite the nerves I am generally optimistic.

No job is secure so go for it!

Just be aware it will affect how lenders view you should you need a mortgage etc

Personally I think we are headed for a big recession and redundancies.
There have been a lot of people jumping to new jobs with huge salary increases and flexible working and I do think that these people will be the first for the axe when it happens.
You need to consider the full package of your current employer so that you can start to cover any loss on a contract / between contracts. Holidays, sick, pension etc. As you don't have children, you are probably in a position to make this kind of change work.

DH's company only offers permanent posts. Private sector.
I have only ever had FTC (or zero-hours contracts). Public sector.

OMG, my job is so much more secure than the jobs are in his industry !
He's had so many colleagues come and go, they are let go before 2 years. Like a revolving door. Or they can be made redundant at any time because the money to employ them doesn't exist, due to business failure.

When I get employed the money is secure up front & once I sign the contract, it's money allocated to me unless I undertake gross negligence. It can't be diverted anywhere else.

Love FTC. Very dim opinions of so-called permanent posts.

Would you rather look back and regret doing it or not trying?

Can you do it as a secondment to test the water?

Thanks all. It’s a dream opportunity for me and I would definitely regret not taking it, so I have now accepted the role.

Really appreciate everyone’s advice. I love how empowering this place can be! 😃

Well done for stepping out of your comfort zone.

Good luck!