Northern/Network Rail Dilemma

[Lucky63]

I currently work for Northern Rail.
They have recently brought out a VLS (Voluntary Leavers Scheme). This gives staff an option to leave their role in the company and gain 70% of their salary in a lump sum. A fantastic option for someone who might already have another job lined up. Northern look at three criteria for the applicants to decide if they are willing to let that member of staff go, so it isn't exactly guaranteed.

I have been offered a job working for Network Rail as a Track Maintenance Operative which is a massive change to what I am doing currently.
My job within Northern is office based, extremely dull, 40 miles from home but with a decent salary. I have a good relationship with a lot of people within the company but feel like the career progression simply isn't there.
The salary with Network Rail is lower than what I am earning currently but not by much and the depot is closer to home. I feel like I want a new challenge also.

Maybe the thought of the lump sum which is just over £20,000 is blurring my vision and this could potentially be a massive mistake to make.

Based on the above, what would you do?

 

[ComUtoR]

Do your maths

Old Salary - Expenses (travel etc.) Vs New Salary - Expenses

Living closer to your depot also gives the advantage of time. chuck in whatever frustrations you have when traveling and being closer has more than just a financial benefit.

Benefits and Pensions.

What benefits are available for both jobs ? Is the pension contributions more or less and how much does the company contribute. Is it a final salary scheme ?

Age

Is your age a factor ? Will you be ending your working life with Network rail or is it a step stone to other things. Being in a dead end job can be soul destroying but risk free. Job security can be a major factor when changing employment. Have you spoken to your boss about a sidestep elsewhere ? Rather than going up consider a sideways move to another department etc. You can maintain friendships and all your company benefits etc.

Work/life balance

Work to live, not live to work. I work on the principle that if I wake up and can't face going to work; I'm in the wrong job. £20k sounds like a good boost and would ameliorate the salary loss and christmas makes it tempting. Work should never be about money. Look to the long term and past the pennies. Unless I was in a financial hole and needed to have a cash injection then my decision would be based on work/life balances. More time with my kids and friends are worth every penny I would get from a small reduction in salary.

£20k/70%
Thats a good payout and better than most would get for standard redundancy. How fast will you burn through it ? That is a years wages for some and a good deposit on a mortgage. If your doubting the move then maybe its just the money that's tempting and not the job. How did you feel about your job before the offer was sent out ?

 

[RiverLune]

I currently work for Northern Rail.
They have recently brought out a VLS (Voluntary Leavers Scheme). This gives staff an option to leave their role in the company and gain 70% of their salary in a lump sum. A fantastic option for someone who might already have another job lined up. Northern look at three criteria for the applicants to decide if they are willing to let that member of staff go, so it isn't exactly guaranteed.

I have been offered a job working for Network Rail as a Track Maintenance Operative which is a massive change to what I am doing currently.
My job within Northern is office based, extremely dull, 40 miles from home but with a decent salary. I have a good relationship with a lot of people within the company but feel like the career progression simply isn't there.
The salary with Network Rail is lower than what I am earning currently but not by much and the depot is closer to home. I feel like I want a new challenge also.

Maybe the thought of the lump sum which is just over £20,000 is blurring my vision and this could potentially be a massive mistake to make.

Based on the above, what would you do?

If the salary isn't that much different, it's a no brainier to me? You admit your current job is basically a chore. You feel like you want a new challenge. The new job offers that, in the same industry. You also say the Depot is closer to where you live? And there's roughly £20k as a pay-off with a new job waiting straightaway?

Do it. You live once!

 

[Simon11]

I'd do it, but also consider the tax on the £20k

 

[LCC106]

I'd do it, but also consider the tax on the £20k

Unless things have changed, it's £30,000 tax free and paying tax kicks in on anything above.

 

[Greenback]

Unless things have changed, it's £30,000 tax free and paying tax kicks in on anything above.

I believe that's still the case, but I could have missed something.

I agree with those who say there is more to work than money. I've moved to new jobs with less money but I've ended up with a better quality of life.

 

[Bletchleyite]

I agree with those who say there is more to work than money. I've moved to new jobs with less money but I've ended up with a better quality of life.

Yep. Probably worth the OP thinking about putting himself in the same position but without the twenty grand. If he'd still change then, he should definitely consider going for it.

Neil

 

[Emyr]

The £20k might change matters such that there is less demand for income.

Pay off debts, swap the car for one which needs less maintenance or is cheaper to run, get a decent bicycle, fix the boiler...

This sounds like a great opportunity. Plan thoroughly.

 

[Greenback]

As ComUtoR says, it's a good idea to assess the impact financially of living closer to the workplace. Will the lower travelling expenses mean that you won't be that much worse off?

I also agree with Neil Williams. Take the £20k out of the equation and would you still change roles? Also, think about the following questions. Do you think you would achieve greater job satisfaction in the new role? How much do you value the time saved in travelling to and from work? What about overtime. will that be something you could do to increase your income? How will the role affect your family or social life compared to an office based job?

These are all the sorts of things I've had to think about when I've considered a career change, which has been quite often!

 

[SteWhit]

There arent many times in life where you'll be offered 20K and have the chance to switch career at the same time.

Do it. We live once. Dont look back. Enjoy.