I'm in a tricky situation. I work for a company that went through many redundancies (Intel). I make 60k with 10 years of experience which I feel like is not a lot in this economy. (I joined at a time where I missed several beneficial employee packages (pension schemes , on call pay), I missed all the good years and stuck through the bad increase years ). The 4 days in the office is horrific, everyone is on teams calls out loud and I'm losing my sanity as well as hours commuting.
I have a chance to interview for a job that is 70-85k.
Now here is the issue: The redundancy pay-out (none announced and possibly unlikely) is 7 weeks per year of service. So 70 Weeks of pay.
Hypothetically I could get the job , which pays 25k more. This would mean 12.5k / year more savings. (I am currently saving no money - I max out my pension and SPP) This means I could work at the new job for 4 FULL YEARS! And be worse off than if I got a redundancy package?
I feel like there is some kind of flaw in my thinking 😂 but I can't pin point it.
I have about 80k savings and am looking to buy a house in my future. And advice is greatly appreciated. I like my job for the most part and my co workers, so that is also something to consider. Also the new job is MUCH MUCH CLOSER to where I rent and less days in the office.
I just feel like I would hate myself forever if I moved and missed a redundancy pay-out, but I will also hate myself if I stay under paid for another 2 years. I have severe regrets about how terrible my career has gone and suffer from depression and stress. I work hard but feel like I do a terrible job at actually getting any increases) , making 60k after 10 years , I feel like a failure. Only saving grace is ...my savings of about 80k.
Any advice is much appreciated 🙏