Voluntary severance - experiences, please!

[SleepBecomesHim321]

I work in a sector having well-publicised financial challenges and my employer is offering a voluntary severance scheme which equates to roughly 9 months' pay. I am early 40s, in a senior position, burnt out.

I am very tempted by VS (don't know if I'd get it though) but there's a lot of risk. I'm interested to hear people's stories of good and bad VS experiences. We don't have a big financial cushion though the VS payoff would last almost a year if we moderated our lifestyle a bit. Two primary age children.

How did you approach VS? Did you take a couple of months 'off', then crack on with job hunting? How did it play out in your family dynamic? How about your own identity/sense of purpose? Any regrets?

Thank you in advance - so much to think about....

For me the big question was 'what comes next'
If you are going to be looking for another job what would you do? If the industry is struggling in general then it might not be easy to find a job in your field again. You mention you are burnt out so maybe you are looking for a change. Have you looked at what else you would be able to move in to or how to get the qualifications or experience for other roles you are interested in?

In my case, I decided against VS as I didn't like the look of the career options if I had taken it. Still at the same company and the industry has recovered and we are now doing well so I am happy with my decision.

I took VS last year, but I had been there over 20 years so it was 2 years salary. I am in my 50s so the initial plan was to get a highly paid contracting role so I could retire earlier. Unfortunately the job market in general and in my area of expertise specifically wasn't great.
I struck lucky and got a senior role as mat leave cover in the charity sector. I would say it's probably easier to go to a job from a job iyswim.

I was very clear in my own mind that I didn't want a break. DS was off to uni and DH is working so wasn't sure how I would fill my days. In the end I finished the old job on the Thursday and started the new one on the Monday. If I had younger DCs I might have taken more of a break.

It's been good to work in a different industry, ironically the pay is a lot lower, but the role is very senior so I am learning a lot.

In your scenario I would think it all through carefully. As I am older I put most of my lump sum into my pension because I can access that very soon if I wanted to, which wouldn't be the case for you.
Also I had underestimated how much time and energy job hunting takes.
You may feel burnt out now, but starting at a new job is also exhausting as well as exhilarating.
I would start by looking on linkedin and seeing what sort of jobs are available in your area.

Thank you

I wonder if we work in the same sector. How easy it would be for you to get another job would be the deciding factor for me.
In my field, it would be very difficult to find another job that pays as well so I am staying for the time being.

I suspect we are in same position, potentially we are colleagues, I have a very similar thread. I am minded towards taking the offer as I am physically and mentally knackered atm. Plan is to have a few months off where I can look after myself complete some DIY and maybe finish some professional qualifications then go back into job market and happy to step down a rung. Everyone I know is encouraging this but a little part of me feels bad about asking to abandon the ship.