I probably have to take this job, don’t I?

[AgualusasLover]

This is, I know a very first world problem and I am very fortunate to be in this position.

The job came via an acquaintance from a previous role - lots of people in common in the sector, they are the most senior person in the company.

I have a job:

• I love
• the people I work with are amazing and supportive
• I have been pretty successful here
• about 1,000 people
• flexible working
• very very easy commute
• learning is super important to me, this company is huge and can take me all sorts of places but my own role can grow to
• extremely comprehensive healthcare
• 10% employer contribution to pension
• subsidised meals and lots and lots of social and fun which I enjoy

New job

• 5 people
• the main person I’ve worked with indirectly before and really like them
• start up (but financially well backed) so my role will be broader than usual, but also opportunity to learn because I will be the only person doing my type of work
• just over £10k salary uplift
• bonus similar but discretionary (I don’t know what the discretion is but assume them meeting targets -+ KPIs of some sort)
• healthcare - unsure how comprehensive
• pension is statutory
• mostly office based, except Fridays and if most of the others are travelling (which will happen reasonably frequently
• commute not that different, in as much as when i get off the bus i will have to walk 15-20 mins instead of 90 seconds

My current employer know about new job. I have a very content, but sometimes tricky personal life and get a lot of validation and self worth from my job, and I am worried I might end up with a content job too.

Financially, I’ve had a difficult few months. I panicked and had a conversation that has led to this. I can manage in current job now that bonus has been paid and I’ve caught up with myself.

I just genuinely love my job. My current bosses have put forward a case to stay but also understand why I might need to go and they have said it will be a huge loss (of course I am replaceable though). They are willing to help me grow and support me in any way at all that I wish. Whilst they prob cannot give me a large pay increase to match, they intimated they could speak to our global team and make a case for me to be moved to the top of my band as I am a top performer, that is £5k.

I am just struggling to get past how much I love my job, colleagues and actually the company (sad, I know).

Forget s out the money and commute.

I job you enjoy and they people are ok is worth everything.

Oh god that's nothing.

Dh had the opportunity to do this, moving to a small start up, big pay increase. In our case it would have been a huge move (relocation that we'd have to pay for ourselves, changing schools etc). He/we agonised over it. He stayed put in the end which was lucky as they folded after just over a year. That would be my concern for you @AgualusasLover, jumping ship from all the positives you've listed about your current stable role for something more risky.

If you've scope to learn/grow/go further in your current role then I think I'd stay.

Stay.
DH has worked for startups for years. He gets paid well and has a lot of influence but the stability is not there and his other benefits are poor (stat pension, not much else).
It's always jam tomorrow and never arrives.
He worked for a much larger company for a couple of years and the benefits were amazing, but unfortunately didn't last.
£10k more seems a lot but how much pension contributions would you lose?

It's a no brainer. Stay in your current job, push for the £5k uplift and look around for a new role for even more money. It might not present itself immediately but that's ok, you're in a role you love anyway.

I would stay where you are - sounds much better - including better pension. Good luck with making decision.

I work in recruitment and have done for many years (niche, professional services) and i would also say stay put and push for the extra 5k. The new role sounds exciting but i speak to so many people who go from big corporates to small start ups and it's definitely not for everyone. They may have good financial backing but do you 100% know that for sure ?
If you are in a position to take a risk then go for it but it doesn't sound as if you are. It's tough out there and a lot of start ups are struggling. Hopefully you can keep the door open and see how they are doing in a year or so. They are bound to have other opportunities as they grow.

I would stay where you are. Your company sounds great. The extra £ won't be worth it. The employer contribution to your pension sounds far more desirable than the extra bit of money in your pay packet.

Start ups where peoples roles are "broad" can be a nightmare. There is also no HR or finance team to go to when needed. You may not think you'll miss those things, but trust me you will when you don' have them. My (very good) senior boss left our organisation a couple years ago to join a start up in a similar field and didn't stay long, the whole thing was a mess.

DH works for a very small company started by a former colleague of his. It's been going for 10 years so you could argue its successful as a start-up. But it's really not. The company is hanging on by a financial thread most of the time. Plus his former colleague, now his boss, is absolutely useless at running a business. He started a company because he had a particular skill, but his business acumen is nil. And with no HR or administrative support roles, everything goes through the boss who is hopeless at it and is also busy doing work on the projects.

Definitely stay. A good employer is worth 5k

Another one for stay. Pension is super valuable in the long term - and an employer you know is good is worth its weight in gold!

Stay put.

Start ups, even with initial capital, are more risky than an established company.

If you need an injection of extra cash you could always do an additional part-time job or some freelance work for a bit.

Having had a string of bad employers and backstabbing colleagues in the past few years I would choose a job I like with some decent people over a pay rise...

No brainer for me - STAY

If I was in your position, I'd stay.

Reading your update @AgualusasLover you still sound slightly tempted, but that also sounds driven by your September financial woes. Please remember that this was a blip and you’re rectifying that. A move is giving me strong ‘short term gain/long term pain’ vibes.

Not a chance I'd take the new job. You will gain more with the 10% pension contribution. Than 5000 more in salary at new.

The bands are lies. Push for £10k. I have negotiated over these fake bands for two different jobs now. You need to be a bit punchy.

I’ve had my bonus letter and have spent some time today working out a budget that brings me back to August, accounts for uni rent, which is the thing that has impacted most. I’ve got a budget for moving forward next year and there is reasonable disposable income each week once everything else has been considered.

In short, I think I’m going to be fine.

I haven’t turned it down yet, but I will on Monday. I don’t have a very ‘good’ reason, but simply changing my mind is good enough for me.

I already so much lighter knowing that I have decided.

thanks for all the help and advice.

Just say that you’re grateful for the opportunity, but all things considered this role isn’t right for you at the moment. Your current organisation have provided you with a retention payment / training opportunity / additional responsibility [tell a soft lie here to make it clear your position is final] and you’ve decided to stay. Thank them for their time & consideration and wish them all the best for the future.

Personally I'd be staying put, provided the 5k gets guaranteed.

BTW, how will "bumping" you to the top of your current grade affect your remuneration options at the next appraisal/salary round?

I was going to ask about future parishes at current job as well
But assuming they are OK then stay IF you get the £5k as, taking pension into account, you are probably just about better off

I'd tell your current employer if they put you to the top of your band you'd stay. If we enter a recession many start ups won't make it. We have just had 2 quarters now that are negative and on the brink of a recession. RR borrowed and spent too much money too quickly and in April she'll probably do it again.

Top of my band would likely mean no increase next year, unless we have a great year. We are, of course, not recession proof, but I am in an industry where my role is as safe as it can be. One thing my bosses boss has mentioned unofficially, is the potential for a new role becoming available. There are 4 people in this role and they are exploring the possibility of another for which, though she cannot guarantee (based on who others might be) but that she would strongly encourage me to apply. It would take me closer but not quite where this offer is as I would be back at the bottom of the new band.

I actually have so much support from the senior people I work with and my line manager, and the whole London management team who often talk to me about what’s next and what I might like to do here and how they can help. So,
longer term this is a (reasonably) safe and crucially place I am very happy.

This is spot on.

I'm going to go against the flow. I had a similar choice last year and applied for the better paid job, hoping I wouldn't get it and I did. In the end the money narrowly won and I left.

I miss my old colleagues who were lovely and an easier job. I'm also going through a divorce so in many ways it was the worst time to move. But it's challenged me and taken me out of my comfort zone which I think has been good for me professionally.

If the difference covers your rent, then that's a big deal. People move jobs all the time and you might be able to move back to your old company at a later point if needed.