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Really struggling to know which path to go down

3 replies

gottomakeithappen · 16/09/2020 10:16

So my partner and i returned from living and working overseas in February and due to Covid i struggled to find a job until June. However although in the sector i wanted to be in, the job was very junior from my previous positions and i major wage cut but i felt i could add value, since starting the job i feel i add little value and maybe the organisation isn't the right fit for me.
I was shocked in early September a job i applied for back in February but was put on ice due to Covid, came back to interview me. They have since offered me the position. Again junior for what i have done previously but a great organisation for training, progression, fantastic annual leave, good healthcare, good pension and longer term great maternity and flexible working. It it a permanent position and although pay initially lower than i am used to, from friends who have gone to work there they say you progress quickly. However it is a large organisation, the projects i will be working on will be slow to progress, whereas i come from organisations which are agile and deliver change relatively quickly. It is a new sector for me and it is an organisation that i would love to make a difference in.
Also over Covid i looked to go consulting via contracting and have now been offered a contract which will more than likely lead to other contracts and opportunities most likely in sectors i have worked in before and enjoyed, however i would need to be self employed. The wage is higher and i know it will be fast paced work that will be rewarding and will make a difference. So although lacking the job security of the other organisation would likely be more rewarding and i guess i could use the higher wage to protect if i dont get another contract straight away.
In the next few years we are looking to start a family, the permanent organisation would allow flexible working whilst the consulting role that may be more difficult. and we have a mortgage which needs renewed in March. Really looking for anyone to give their experiences and opinions.

OP posts:
Llamapolice · 16/09/2020 13:17

Tough one. I would say do some sums - after you've taken out costs for insurance, holidays, accountancy if you'll need it - how much better off will you be self employed? If it's still significantly better and you're reasonably confident of further contracts I'd lean towards self employed.

I would have thought after a couple of contracts you'd be in a good position to get a permanent job at a higher level than the one you've been offered, if that's what you wanted long term.

I wouldn't be so worried about the TTC and maternity side of things yet - it took us 5 years to conceive so I may be biased but I think it's too much to put your career on hold for several years because of that. Too many unknowns.

gottomakeithappen · 16/09/2020 13:34

Thanks for your response.
Even after the expenses i am still left in a better financial position which is good as i know from friends who contract you can then work towards higher day rates etc.
I totally understand with the TTC and maternity as my mum has pointed out it took her 7 years and her sister 6 years so on that side of things we could be waiting a while.
Do you know for mortgage how it impacts?
I think it is overall that fear of unknown, i've always worked for an organisation so this is a change that i want to be as sure as possible before i start going any further down the path.

OP posts:
gigi556 · 16/09/2020 13:50

You'll likely need 2 years accounts to use your self employed income on a mortgage application I believe but check with a broker.

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