Would you move jobs at 54?

[Floofybunnywabbit]

Have name changed for this. Entirely hypothetical situation as I haven't yet been offered the job, but am in interview process.

I've been with the same employer for 23 years and am so fed up with current role and office politics that I'm praying for a redundancy payout. We're under resourced and the workload just keeps getting higher. It's all a bit toxic. I find myself counting down to retirement which is realistically 5 years away.

I got approached for a role in a smaller business but using my existing skills. The package is a 10% pay increase plus car allowance plus greater bonus potential than current role. The job excites me and I think I could do it. But part of me is reluctant to give up my years of service and move out of my comfort zone. New role is WFH (as is current) with some business travel.

WWYD? Now that I've written it all out it sounds like a no brainer.

It sounds good to me. Especially if you’re 5 years away from a potential retirement.
is the pension comparable at the new place?

Of course! I emigrated aged 50, started new jobs aged 50 and 54 and start another next month aged 56.

When you say smaller company, is it still one that’s financially sound? I certainly wouldn’t be moving to a start-up or similar with 5 years to retirement - I’d be concerned about finding another job if it fell through in a couple of years.

If it’s an established company with no issues it’s a no-brainer. Although do check you’re not screwing yourself over with pension entitlement.

I'm the same age as you and wouldn't look back!

Yep still financially sound, not a start-up. Pension contributions are 10% Vs my current 9% from employer.

Hell yeah. 54 isn’t old ffs. Sounds like a good offer - go for it!

I think I'm just a bit stung by interview experiences a couple of years ago when I got to final two for a couple of jobs and lost out. But I hadn't been approached for those, I applied.

I did and enjoyed a challenging and exciting end to my professional career. It was just what I needed and reignited my enthusiasm. Big learning curve but I coped.

I've just changed jobs at 59. It's reinvigorated me. I say do it!

Thankyou. Some really great stories, has definitely inspired me.

I'm 58 and 2 weeks ago I started a new job. It's slightly more £ (bout £3k PA more), less hours, less physical and a better employer pension contribution. No-one was more surprised than me when I got offered the job. Go for it OP, what's the worst that can happen?

I change jobs every 5 years or so.

Currently 49 and planning a few more moves before retirement

Yes absolutely, it would be so refreshing to have a fresh start

Just need to keep my fingers crossed that I get it now 🤞

Excited for you. Good luck

I'm expecting to be working until around I'm at least 68, so at that age I'd expect to be moving a couple of times before retirement. In your situation, I'd also move - 5 years is too long to be in a job you hate.

I changed jobs at 50 and had the best role I ever had and really enjoyed it. Make sure your pension is protected.

I think my current pension will just close to new contributions but continue to accrue interest.

Definitely go for it. I left my stable job aged 53 to go to a startup. It was fab. Then left that and went to a small company aged 57. Am now looking to move again aged 59.

Go for it if it feels right. I think it keeps you young 😎

Fingers crossed for you.

I changed job at 55. This gave me a 50% increase in salary plus my pension contribution percentage trebled on a much bigger salary.

I knew I was underpaid but hadn't realised by how much.

Go for it!

I am 53 and job-hunting to leave my current job.

I am bored, expected to deliver a full time workload over part-time hours and they refuse to recognise my contribution all for an average pay. They even tried to change my flexible working arrangement is there is zero advantage in me sticking to that job. Everyone else in my team is getting the benefit of training, pay rises/job upgrades while I am expected to just put up with things.

This is not a sustainable situation until retirement and I really want something more rewarding that I can commit to for the next few years.

I changed jobs last year at 54 (same employer to be fair but different team, different location, different speciality.) An excellent choice for me, I feel reinvigorated. Good luck!

You say theres no pension issues...id definitely move jobs. Im 52

Sounds like a great opportunity , best of luck!

Hmmm, have just seen the the role has been advertised on LinkedIn and has 60 applicants. Not sure I cba with hugely competitive recruitment process.