Redundant mid 50s

[wtftodowithmylife]

Name changed for this one.

Was made redundant at the end of last year from a senior corporate role. Very glad to get out at the time as my boss was ineffective and I was not happy. I'm 55. Thought I'd have a couple of months off and then start to look for another job, which is what I'm doing now. The job market is a NIGHTMARE!

I'm having an identity crisis where I can't decide if I get a PT job for the next few years and start to take my private pension to top things up, or if I want another full-on corporate role. I interviewed for a job for which I had all the right experience, and I thought it went well, but soul destroyingly I haven't heard back in over a week. I honestly thought I'd get called back but... Nothing. I don't think I have the resilience to do this over and over when I will probably lose out to someone younger.

Pension pot is about £350k with a small final salary pension due to be paid out at 60. DH still working and well paid, and has said we will work something out if I don't want to go back to FT work. We still have a mortgage to pay for the next 4 years.

WWYD? I'm overthinking this all to the nth degree at the moment.

Yes would love to retire but not realistic in 50s is it these days? I think it really depends what industry you’re in. My industry values experience because it’s not a subject matter you can be expert in over 2-3 years. You do need to be seasoned as well as confident dealing with difficult clients who look at your title. There are more women in my industry than men as well. Not sure why it is.

As for the other perm role, it is still pie in the sky. Up to you whether you want to hedge your bets for a higher paying perm role and have the drama of going back on your word. If you only have to work for an additional year before considering retirement, I'd say you don't have to sell your soul for a perm role.

I've decided to interview for the other perm role. The recruiter pursued me again this morning saying that they were disappointed I'd decided not to interview as I was the most experienced candidate they'd seen. Could be bullshit of course. But they had agreed to stretch their budget for me. The contract is lower paying (unless I manage to negotiate up). And in all honestly I could probably do with having a couple more years in work before retirement.

Need to play it carefully so that I don't lose out on the contract if the perm one doesn't come off.

Which role did you take OP?

@rivalsbinge it's not my attitude to my age group which is the problem. However, things have moved on since my OP and I'm feeling more positive now (see my updates).

One of the hardest things here is that people identify themselves through their jobs so you are also facing an identity crisis. With a good pension saved, redundancy money and DH working full time, I'd use this opportunity to reinvent yourself and do something completely different that is personally satisfying though probably less financially rewarding.

None of them yet! All still up in the air.

Need to play it carefully so that I don't lose out on the contract if the perm one doesn't come off.

OP, you sound clued up so I am sure you are well set to handle this. It is probably harder for the first employer to fill a contract role with someone with your experience so I am guessing they will wait for you.

Thanks, I hope so.

Oh wow OP, just caught up on this - sounds like you are very much in demand!
I wish you well whichever option you go for. There is so much negativity around being older, but you have proven if you're a good candidate there is no shortage of roles.

Thanks @rookiemere, it does all seem to have progressed quickly in the past week. Having said that nothing is signed yet and I'm impatient to finalise something!

Well done op. Is the contract through a recruitment consultant?

They should help you not let it go even if you wait.

@EasternStandard no, it's with their internal recruiter.

I would let the permanent job know that it would be helpful to have a quick decision. I did this with my new role - encouraged by my then manager- as I had the option of a secondment to stay but didn't want to mess the company around. It helps for them to know you're in demand !

However I wouldn't keep anyone waiting too long. It is a funny old job market and it's best not to let any decent opportunities go by.

Ok this will be my final update! I did exactly what @rookiemere said and the original perm role (which I've waited nearly 3 weeks for a decision on) is now in the bag! Super happy. Tomorrow's interview has been cancelled. Sorry to have to turn down the contract as they were lovely people from what I could see, but it gives me options and not having to look for another job in a year is obviously a massive bonus.

I take it all back about the ageism. I'm sure it does exist but I'm really happy to have landed a new role within 3 months of my search starting.

Congratulations @wtftodowithmylife you have done really well for yourself and I do think it shows that whilst age could be a discrimination factor, there are jobs out there if you're the right candidate.

So happy to be able to wish you hearty congratulations @wtftodowithmylife Gives us all hope.

That is great! An inspiration to us all! I had my F2F interview. Originally HR said I’d get a yay or nay today but HR has now said it’ll be a few days so concerned I’m the back up wheel so feeling a bit flat! The interview went so so - some aspects happy with it but not all. Two more interviews to try and smash!

Thankyou! Am absolutely buzzing!

@Firsttimeinmylife best of luck. I know that flat feeling very well, job seeking is such a whirlwind of emotions. I'm sure you'll get there!

How you doing, any news yet?

Hi I didn’t get it!!! I have 3 interviews next week. One for my current employer in a different part of the business. Not sure if it would be regarded as redeployment or not. It’s in sales and why I do sell in my current role I’ve never had a 100% sales job so might come to nothing.

Aw I'm sorry. But lots of other opportunities though, by the sound of things.

Congratulations on securing your new role! I hope you will be very happy there.

Thankyou 🙂