To take voluntary redundancy @ £115k

[anon5mill]

Around £80k after tax. Or should I stay in current role with package of £140-150k + pension, healthcare. Current role is comfortable and suits lifestyle. Could be difficult to find another role with the same flexibility and money. Have niggling doubt about taking the redundancy. Have dependents, already own home, no debts. Likely to be made redundant within next 18 months if not now.

Yes it is if it's over £30k. Also Pay in lieu of notice is also taxed as if you had earned it as are any other kinds of benefit

I am mid 40s with primary aged kids so the expensive stage is still ahead of me. I'd initially thought it could give me a chance to have a few years at home with them at this age but that could set retirement back a lot.

Focus on the now. Money can't buy time back with your kids. Make the most of the opportunity to spend time with them now when they need you. Retirement can wait. Anything could happen between now and then. Enjoy the precious short amount of time you have with the kids. They're what's important.

Almost certainly as Voluntary redundancy is offered to entice people to leave so the company can mandatory redundancies which is always looked on unfavourably. Mandatory redundancy could be as little as one week's pay per years service and not payable at all if you've less than 2 year's employment with the company.

It is after 30k

Hallelujah sister!

Us full-timers obviously can't "make memories" (cringe)

Recently went through the almost identical scenario. I took the money and ran for the hills. It was an enhanced package. Colleagues who stayed behind have found out 18 months later that there are no more packages, conditions are dreadful and some of them are just resigning because the alternative is to hang on in intolerable working conditions. I'm feeling really lucky.

@jeaux90 @Totalwasteofpaper @SweetPotatoAndPeanutStew

I think I've found my tribe 😁

Anyone up for a Women in Tech thread, where can completely and unashamedly wax lyrical about our profession? Celebrate the successes without apology (and moan about how crap Teams is 😂).

Sorry OP for hijacking your thread!

Can I join?
I haven't been on any adventures in beaches/sunlit plains yet but enjoying choosing my hours somewhat

@EldenRing4

Of course! the more the merrier 😁

I'll wait to see who else is in, then I'll setup a new thread tomorrow.

Count me in too!

Me and you both, I’ve got two degrees and been in the police for 12 years, my wages have gone backwards in that time despite being higher scales 🙄

Can I join, even though I'm in the dreaded CyberSecurity group?

You’re not alone. I envy those who are mortgage free and have high salaries. But I guess that’s life 😂

What do you tech women earn average a year gross including your bonuses ?? Genuinely intrigued as I thought it was a 60 hour plus Week for anyone in tech. Please do share ! Too old to retrain but would like to understand so can influence my nieces !

As promised:

https://www.mumsnet.com/talk/_chat/4872423-women-in-tech

I'd be delighted with 20k
I don't even earn 15k
Always going to be someone worse off

I would wait 18 months, is another year of earning your salary and gives you time to find another job.

Can I ask you what do you do in tech? I want to go into tech but there are so many roles that I'm not sure what's best ... cybersecurity? Web development? UX Design? What should I study? Thank you.

@anon5mill Is there any possibility of contracting/freelance work in your industry?

Just another thought re working for yourself and picking and choosing your own rates and hours, etc?

I'm cyberSec in a leadership role, £95k plus 20% annual bonus.

Hours can be long, especially if there's an incident or audit, but it averages out and 100% home working so able to flex around school drop offs and events.

I earn £150k, no huge bonuses, work to task rather than hours, but am mostly remote so I can set these hours. I’m always around for DC as a result.

thanks for this thread OP. I'm a reasonably high earner in a flexible role, too, and have been with my employer a while, I always have my redundancy payout modelled in case it happens to me! The conclusion you've reached is a decent one, it's nice to have options.

Ask for more money

yes, only the proportion of it over a defined limit, e.g. First £30k tax free

I wish I had a problem like that.

I had a similar offer 16 years ago when I was 49.
The initial offer was voluntary redundancy but I and others, held out and got compulsory redundancy which was a better package. My children were 11 and 9.
We were mortgage free and DH took early retirement soon after.
I never regretted it for a second. However I changed direction, worked very part time in flexible jobs after taking a year off.
I put all the money in a SIPP so got most of the tax back.