Take Vol redundancy and take my chances? Am I mad?

Qually · 02-02-2011 5:18pm #1

Newbie to Boards so hi to all....and go easy.
Id appreciate feedback & thoughts on the following
Im a male in mid 30s working for same private multinational employer in ireland for last ten years in a role that is not challenging and would be considered pretty cushy if truth be told. Im permanent and there is the possibility of Vol redundancy being offered. Probably 5/6 wks per yr so it is tempting. University education is degree and IT postgrad and recently completed an MBA part time. Solid 2.1 grades attained.
Reason to do the MBA was to twofold :
1 - give myself the spurt to get myslef out there and find something more rewarding, only live once and all that.
2 - I always wanted to do one
MBA is not the golden ticket it once was though and I accept that.
I realise current circumstances are dour today, I have a job and a wage that is probably above the average industrial wage but Im not content and feel I need to get out and progress. I appreciate some folk might ask wtf am I whinging about, Im not in the worst of situations from that pov.
I have the same responsibilities and expenses as any normal person i.e. mortgage, bills, debt etc so it might be a big gamble.

So, there is the carrot of this payout but, there is the pressure on myslef to get out and try to use the MBA as a platform to do something else but then there is the chance nothing will turn up....

What would you do? ultimately, it comes down to personal choice but am really interested to see how people might react if in this situation.
Also, I havent been proactive enough in terms of getting my CV etc out there but that is changing now

Ta for the feedback

Pineapple stu · 02-02-2011 5:44pm

Personally i would only take the redundancy if i had something else lined up first otherwise i would only be digging into the redundancy payment whilst looking for work.

JDxtra · 02-02-2011 5:51pm

If you are not challenged, and there are no avenues for you to move in the existing firm (even sideways) then I'd take it. You'll probably end up leaving anyways.

listermint · 02-02-2011 5:53pm

Pineapple stu wrote: »

Personally i would only take the redundancy if i had something else lined up first otherwise i would only be digging into the redundancy payment whilst looking for work.

Take this advice, Anything else it pure madness.

JDxtra · 02-02-2011 6:07pm

Hmm. If the OP is on 60k per year, he could walk with 70k (before tax). It's probably 18 months’ salary if you factor in tax allowances.

You have to look at your existing commitments (house, family etc) and make your own decision.

Dazice · 02-02-2011 6:12pm

If you have a job to walk into, go for it.

If not, in this economic climate, it would be madness.

you'd probably earn in 2 years what the lump sum would be and it could take you that long to get another job, also taking vr means you'll have to wait around 2 months to claim the dole.

Qually · 02-02-2011 6:48pm

listermint wrote: »

Take this advice, Anything else it pure madness.

Cheers for the feedback, but to confirm, there is no job lined up. If there was, id be outta there.
This vol redundancy offer will be on us very soon ad such is the nature with these things, there is little time to make a decision!

Stheno · 02-02-2011 8:21pm

Qually wrote: »

Cheers for the feedback, but to confirm, there is no job lined up. If there was, id be outta there.
This vol redundancy offer will be on us very soon ad such is the nature with these things, there is little time to make a decision!

Are you working in IT and if so what area?

If not, what sector do you work in ?

LegacyUser · 03-02-2011 12:26am

Take it and run.

Unless you're tied to staying in Ireland by mortgage or children, I'd take it and go far, far away.

Never turn down huge redundancy.....haggle for more. It cost the Employer very little after tax etc., so ask for more and "reluctantly accept".

wmpdd3 · 03-02-2011 6:24pm

Sounds like telecoms.

Mortgage is the main thing, how many months can you cover it with the redundancy payment?

I would go for it, you seem to have a decent education and 18 months is a good while to look.

holliers · 03-02-2011 8:06pm

It does indeed boil down to personal choice but if I were you I would take it and run. I am in a simialr situation and like you there is a need for decisions sooner rather than later. I am repeatedely asking myself am I mad, but it boils down to quality of life and whether you remain on and risk becoming more unhappy and leave with nothing anyway or whether to take the gamble. I feel guilty making this decision given the current economic climate and understand many people are saying wtf but careful planning, careful budgeting goes a long way. It may just be the kick start you need to put yourself out there.

bubbaloo · 04-02-2011 4:27pm

You don't mention a partner/kids so can we presume that you don't have those ties? If not, then you are in a better position to accept a VR offer.
If you have a partner and/or kids I would not leave a job without having something else lined up - your decision would have an affect on more lives than just yours. If you don't have these ties, then I would say it's a good opportunity for you to change your life.

You say you have been hoping to move on in life and this could be the proverbial kick in the behind you need to get started on your search.
If you're sensible with your redundancy money (and don't go mad spending it all at once!) then it could last you quite a while.
Good luck.

Qually · 07-02-2011 10:57am

bubbaloo wrote: »

You don't mention a partner/kids so can we presume that you don't have those ties? If not, then you are in a better position to accept a VR offer.
If you have a partner and/or kids I would not leave a job without having something else lined up - your decision would have an affect on more lives than just yours. If you don't have these ties, then I would say it's a good opportunity for you to change your life.

You say you have been hoping to move on in life and this could be the proverbial kick in the behind you need to get started on your search.
If you're sensible with your redundancy money (and don't go mad spending it all at once!) then it could last you quite a while.
Good luck.

Hi, thanks for all the replies people. Its interesting to get others viewpoints but as said ultimately, its a personal choice. Decision made, Im putting in for teh VR. Life is too short. I dont think Im mad, just feel I am worth more. To confirm, no kids or ties - have a mortgage but Im certainly not letting than influence my decision...
Holliers, if youre in a similar situation, do this - sit and write down the positives and negatives, talk it through with someone close and it becomes clearer. Ultimately, it comes down to personal happiness and what you want out of life. Take a chance and back yourslef...Im going to do it. F it. NOthing ventured etc...
Let me know what you decide to do - PM me any time. onward and upward.
Thanks all for your views.

hmmm · 07-02-2011 1:17pm

Normally in this environment I would have said you were mad, but I think you've made the brave & best decision.

With an MBA and experience under your belt, you will always get a job somewhere - so if you ever feel you have to make a bit of short term money, you should be able to find work pretty quickly (e.g. Big 4 consulting).

Your excuse for taking VR will also sound fine at interviews, they will expect a newly qualified MBA to begin to use it aggressively to upgrade their career.

teddy99 · 07-02-2011 2:08pm

Absolute mad decision - but with an MBA in your pocket, one of the best qualification around and with the vast experience you have hopefully it bodes well.
Best of luck with the job search -

Take Vol redundancy and take my chances? Am I mad?

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