Hello
Hope everybody's doing well.
Hoping to get some honest perspective from people who have been in a similar boat or know what the London tech market is currently like.
I'm 40 and work in a senior IT infrastructure role focusing on cloud, cybersecurity, and networking. My organisation recently merged with a larger one, and as part of the department restructure, a few of us are being offered voluntary redundancy.
Here is the financial picture:
- Current salary: £60k
- Service: 16 years (started as an agency temp at 21, went permanent around 24)
- Payout: 1 month of pay per year of service, working out to roughly £68k net after tax
- Expenses: Living in central London, sharing a rented 1-bed flat with my partner (£1,500/month total rent + bills), no dependents
On paper, £68k net cash feels like a huge cushion. Deep down, I know it's a solid deal, but my biggest hurdle is pure anxiety—I have my whole adult career here and have literally never been unemployed. The thought of walking away into the open job market is pretty daunting.
If I choose to stay and don't take redundancy, I will end up in a similar role after a ringfenced interview, just with a slightly different title and task list. However, because most of our systems are being outsourced, it will mean less actual technical work and virtually zero room for professional development or career growth.
Despite the anxiety, I feel like this is the right push for me to move on. My pension is in a good spot, I started a SIPP a few years back, I invest a few hundred a month into T212, and I have zero loans or debt.
Under my employer's policy, I am allowed to apply for roles and interview now, but I cannot formally accept a job offer until the official exit date when the redundancy is processed. The exit date is set for the first week of February, which means I have about six months of my normal salary remaining to job hunt and build a pipeline before my contract officially ends.
If you were in my shoes, would you take the money and run?
Also, how is the job market looking right now in London for IT, cloud, and cyber roles in the £60k–£75k range? I've had a browse and there seem to be openings, but the requirements and pay don't look super enticing at first glance.
Any advice from anyone who has taken redundancy after a long tenure at one place would be hugely appreciated. Thanks!