Flexibility and life balance, or £20k payrise?

[QforCucumber]

I have today been put forward for a very similar role to my own, in a larger, more corporate firm who are offering £20k a year more than I earn now - however I know the company, they don't offer much in the way of flexibility and advertised hours are usually an 'advisory' and the expectation is to work over. it is around a 15/20 min commute.

My current role, is 34 hours a week (the new is a base of 40 but I have asked if they'd consider fewer) 1.5 miles from home, flexible so I can do school drop offs and a pick up once a week, wfh once a week, I like coming to work basically, low staff turnover but small first = lower wage.

20k a year would make a huge difference to our lives.

Home life - DH and I both working 5 days, 5 yr old and 1 yr old at home. currently, due to FT nursery fees cannot afford 2nd car/cleaner etc. Living month to month for another 2 years until free hours kick in and if anything goes wrong it'll be credit cards.

Any outsider, balanced views?
(I'm aware I've not been offered the job yet, but now it's in my head I need to figure out what do do if I am)

I'd take the new role. From what I can see, a slightly longer commute and the loss for a school drop off/pickup isn't so much of a loss.

I'd do it, after working out a clear budget and plan for how to keep life as simple as possible to make up for the loss of flexibility, but I'm a single parent so a 50k job would be amazing!

Take it, opportunities to jump up the pay scale like that don’t come around too often. Put the hard work in for a couple of years then work out how to drop your hours.

That s a huge % increase

current salary is £27,500, new one is a FT offering of circa 50k,

So take it

You should get one hour lunch in that working week hours

If you were going 50k to 70 k you could think about lifestyle bl bla bla
But this is a massive leap
Will make a large difference to monthly income and pension

I tend to err on the side of flexibility and some PT working generally, but in this case, I too would take the new job (if offered).

I mean it isn't like you are doing 3 days and going up to 5 - the adjustment is minimal - but the increase in income is HUGE.
For most of us, on 'ordinary' salaries like you are, there would never be the opportunity to make a leap like that. I've been working over 30 years and am a senior manager but can't make that sort of money.
I think you'd be a fool not to take it.

I'm also surprised about you saying your dh works for Local Gvmnt and there is no flexibility. Generally speaking, the T&Cs of local Gvmnt jobs are good to make up for the money being crap.

However, the additional money will make the world of difference to your family EVERY month for YEARS. Even after you put aside some money for childcare and for making life a bit easier (be that a cleaner, a second car, babysitters, a gardener, someone to decorate for you or whatever combination you spend it on).

Thanks all, just a waiting game to see if it becomes a reality now I guess.

@kite22 his employer are flexible with hours and that's how he does a school pick up too and we've always taken sickness and now holidays equally, but there's no negotiation on his salary is what I meant (he also has a boss who doesn't 'believe' in wfh, even though its been their new norm he wants them all back to normal ASAP)

My huge worry is the kids, so many people say it goes so fast, you don't look back and wish you'd worked more hours etc. And they feel so little, I'd really like to try keep my 1 pick up a week as ds really enjoys it, he gets so happy when he realises its me not the cm getting him from school.

Put the numbers into Money Saving Expert's income tax calculator and you'll get a rough breakdown.

Not taking into account pension, it's a £15k increase after tax and NI (£37,664 take home as opposed to £22,364).

I would do it. I did it myself for a £10k increase but my fears about the excessive hours and workload were right. Work/life balance is really important to me but you just don't know what it's going to be like until you dip your toe in the water.

Go with your gut feeling. Mine was right but I ignored it!

I'd chose a better home/work balance over more money any day. Your children won't remember that you earned more but they will remember that you were there for them. No amount money compensates for seeing how pleased your young kids are to see you when they tumble out of school.

You will also be getting nearer to the limit where you could be losing child benefit and will have to pay more tax, national insurance and pension contributions, all for the pleasure of working an extra day a week, having a longer commute and no school pick up time. The company ethos will be different too and may not suit you, so try and negotiate a pay increase with your current job and keep your flexibility.

Yes it's about 15k take home extra so still a good increase. My minimum to change job & work/life disruption is 10l

10k

What is your gut telling you? Does the possible new role and hours excite or daunt, or something else? I would go for it if you can put the extra salary into something worthwhile, such as creating a decent savings pot that makes you less financially vulnerable, but not for paying a cleaner.

Go for it-20k is a huge jump from your current salary. You may regret not taking it. It doesn’t have to be forever & think of all the lovely things you can do with the extra money.

Careful of 'circa'.

It can mean 'we're going to find a reason to offer you less' or 'it's £30K base but with overtime/commission you could conceivably make it up to £50K. conceivably.'

(unless it's your circa, not theirs! I'm which case crack on and take the job!)

Thanks @FatJan, my circa - in that, honeslty, I'd be happy to be offered 40k and fewer hours than the listed 50k and increased hours. Even 40 would still be a 13k increase and make a difference.

Who knows, I might just be getting carried away with myself

@quizqueen

I'd chose a better home/work balance over more money any day. Your children won't remember that you earned more but they will remember that you were there for them. No amount money compensates for seeing how pleased your young kids are to see you when they tumble out of school.

You will also be getting nearer to the limit where you could be losing child benefit and will have to pay more tax, national insurance and pension contributions, all for the pleasure of working an extra day a week, having a longer commute and no school pick up time. The company ethos will be different too and may not suit you, so try and negotiate a pay increase with your current job and keep your flexibility.

I echo what quizqeen says. I work 18 hrs because I get to juggle that balance. There plenty of time for better paid jobs once kids are established

Will new company want you to sell your soul to the devil?
£20k is a lot, but once you break that down into how many extra hours your will end up doing, the incredible stress change from old to job to new job, are you sure that it'll be worth it, when you work out the hourly rate, the net pay in your bank account, the huge change to your stress levels.

Your kids are very young. When both are at primary it might be harder?

It is a good and rare increase offer!

You're massively jumping the gun if all you have done is spoken to an agency

Take it step by step. Hopefully you'll get an interview. Ask then what the flexible working options are. It's big these days, flexible working. So companies want to be seen to be family friendly. Especially the big ones

Guarantee that recruitment agency don't know so the facts

Then decide when you have spoken direct with the hirer.

@senoritarita, I am aware, and have repeated many times that it may not even be on the table - but its still nice to gauge opinions of what others do if it were, and to be honest - it feels quite empowering to be approached at that level when I never even thought I could become close to it.

I changed jobs and got a £40k increase, it's been utterly life changing - especially as a single parent.

Don't forget that every relevant job after that will offer you more as you progress. Your starting point will be at least £50k.

Don't ask for 40 when it says 50. Ask for 50+, 1 day wfh and flexibility to do pick up once a week. Decide then whether you want it. Or tell your firm about the offer and see if they can match it to keep you.

*Have you worked out your new job hourly rate based on the basic hours increase, plus the hours you’re expected to work extra, after tax and NI deductions, it wouldn’t surprise me if you won’t be on all that much more per hour than you are now.

I took the big job/pay rise in the past, all the extra money went towards e.g. a cleaner, meal prep boxes to make life easier, an ironing service, extra childcare fees, there was hardly any actual spare money left over, we were really no better off than when I’d had the flexible family friendly job*

Don't forget that pension contributions will be more, which is a good thing, also you are enchancing your earning power for later, even if you don't take home an extra penny.

@senoritarita

You're massively jumping the gun if all you have done is spoken to an agency

Take it step by step. Hopefully you'll get an interview. Ask then what the flexible working options are. It's big these days, flexible working. So companies want to be seen to be family friendly. Especially the big ones

Guarantee that recruitment agency don't know so the facts

Then decide when you have spoken direct with the hirer.

Oh god, I didn't even see that.

Yeah, agencies...... gotta love 'em....... NOT!