Should I take a higher paying job with less career growth potential?

[SquawkyTalky]

I’ve been offered a new job that pays a lot more than my current one. Even if I got promoted where I am now, the new job would still pay better. But I’m worried about the career growth in the new role.

Right now, I work on important projects, my manager supports me, and I get leadership opportunities and good bonuses. The new job is in a smaller department with less important projects and fewer chances to move up. To get promoted, my team leader would have to leave, and even then, others are in line for that job.

Also, bonuses in the new job are compared to people in different professions, which are often seen as more valuable because their work is more visible. Despite this, it would probably take me over 5 years to earn what the new job offers if I stay where I am.

What should I think about before deciding? Has anyone been in a similar situation? Any advice or personal stories would be really helpful.

You climb the ladder most effectively by changing ladders. Would this enable you to move upwards by changing again in the future?

What is your current salary and what does the new job pay?
How much income do you want or need?
How many hours will you be expected to work in the new job?
What is the commute difference?

Thanks for the replies.

@Bigoldmoneypit I feel like my current role will offer more experiences (e.g. managing others) that can help me move in the future - for example into a management role. The new role's main benefit is the salary increase, the experience working in another company, and the brand name in the sector. For example, you can imagine I'm moving from Procter & Gamble to Walmart: some of the biggest names in the sector.

@twistnslide there are downsides, I currently work from home, but the new job involves a 90 minute commute each way 3 times a week, which I can make work. There is no guarantee I'll be able to continue working from home forever in my current job, which would be a 1-hour commute each way if I had to go in the office.

Working hours are the same for the new job, and pay is 30% more. If I get a promotion at my current place (which I'm expecting in the next few months) that would be a 5% salary increase with no title change. I then wouldn't get promoted again for another 2-3 years minimum, which would be another 5% salary increase.

I feel like the worst thing about the new place is the team. But not many jobs come up for this new company in the UK.

Also, once I'm in, there could be the potential to switch teams in the future. However, that isn't guaranteed - it relies on a job in a new team being available, and that team wanting someone who works UK hours.

It all feels very difficult to make the decision. Especially as this is the first time I've left a "good job" by choice (e.g. not due to end of fixed term contract, or an obviously better opportunity). Added to this, my role is quite niche so there aren't lots of opportunities that come up - I've been looking for a new role for 2 years.

Why have you been looking for 2 years?

More money or more possibilities for advancement?

Which works best for you?

What would your current employer do/say if you told them you might leave?

I'm in the process of leaving a job I like, working with people I like, for a job which is on paper "better" (more senior and more money, closer to home so less commuting). I've had mixed feelings about it, especially since after I resigned, my current employer offered to match the new salary.

I am going anyway, because I agree with the other poster who said you can make more progress by switching ladders. But there's a lot to be said for the ease of sticking with what you know, and in your case, have you factored in the additional cost of the 3x a week commute?

I think you need to decide what you want from your job and how it will help your career.

I moved to a job that paid more, but has little promotion opportunity. Crucially, for me, I won't need to manage anyone. I do get to work with a varied workload and ultimately I'm now doing something I really enjoy.

My old job was good, there were promotion opportunities but they came with managing people and doing less of some of the interesting work but occasionally some really interesting things. However, I wanted change and didn't want to be a manager. More money is good.

So you have a new job that would give you more money and good experience on your CV if you choose to move again ok a couple of years. You don't have to stay forever, you can always see this new job as a leg up to a different company in the future.

No idea if that helps!

Always take the money.

Is the 90-min commute by train or car?

Stop thinking of moving up within a current company or the one you potentially go to, think of the potential to side step into another company and move up their ladder. For me this would be about skills and money. For any job in the future you would be increasing your salary again. The job you may move to in the future might not even be on your radar right now. Dh was headhunted for a job he didn't know was going.

I think you need to consider that 90 minute commute, it is by train or car? Because by car sometimes 90 minutes is actually 3 hours depending on accidents, road closures etc. It is adding 3 hours to your day at least. Consider what time you will be home and what impact that has.

Thank you everyone for your advice, stories and questions, this is very useful.

@BabstheBounder I really appreciate this, especially the "leg up" part.

@Bestyearever2024 I started looking because pay had stagnated at my current company, especially with regards to inflation . I'm in for a large increase in mortgage payments when my fix ends (I was a first-time buyer when prices were rocketing 2 years ago). When I started looking, I also was not happy with my work and my team, but the new company was rumoured to by much better for my role (more fulfillment, interesting projects, more impact etc). However, during the interview process, everyone I spoke in the new company named the pay as the best benefit. They struggled to name other benefits, and didn't even say the usual "i work with really nice people" etc. Which made me realise, if I do go here, I have to be realistic: I'm moving for pay, not to enter a magical, enriching environment. Stuff at my work has got a little better recently - in terms of the team feeling less toxic, and my manager giving signals that they are investing in me - but I'm worried it could go bad again.

The job search has taken so long because there have only been a handful a roles advertised.

If I told my current company I was moving they would offer slightly more money, but not match the new company. This is their standard practice - they openly say they do not pay, or try to pay, market-leading rates. And if you want more pay you should leave. They had pay freezes during the height of inflation because they knew the job market was bad and people couldn't leave.

@Bagualious @BettyBardMacDonald @Elektra1 the commute is by train (although I do need to drive/cycle 3 miles to the train station first). 90 minutes is door to door, including parking and little bits of walking. I have factored in the cost, it would still be a huge boost to my take home pay. The company has things like a free gym and free meals on site, which would help with the later evenings.

DH does most of the household stuff anyway as I often work late now, and the kids are older teens. I will essentially replace the "late working" days I have now, with the commute home.

And if you want more pay you should leave

I see. They're tossers !

I'd leave, then

Follow the money 💰 😍

I'd move if I were you. A big pay rise puts you in a better position to negotiate your next job (if you want to leave).

Seeing as much of the commute is by train, which gives you time to relax, do life admin etc, I'd definitely go for it.

Train travel is not cheap so make sure that you have correctly accounted for the cost in your take home increase. Then as long as the extra commute suits your lifestyle then take the job. Make sure that they put the maximum of 3 office days per week in your contract. So many people on here have been screwed over by return to the office directives.

I would take the pay. If your kids are teens now is the time to start investing in your pension and the longer term.

I would do your sums very carefully though.
30% more - what does that equate to after tax - higher band might mean significantly less income than you expect.
What is the differential on other benefits - pension, healthcare etc. ie are you comparing your overall "pot"
Other costs, train fares adjusted for inflation +2/3% annually.
Occasional hotels for work events.
Noting point about risk of disruption on the roads, in the grand scheme of things how reliable is the route to work and is there an alternative route if significant issues?

Overall, it's a big increase which is useful leverage for the next move. 3 hrs a day mostly spent on a direct train route is a good opportunity for life admin, a film, do some work, eat on the train and go to the gym on arrival.

All you really need to understand is the working culture really. If you have a school event or personal issue, how rigid is the 3 days a week. How is it measured and tracked?