Skip to main content

Post content has been hidden

To unblock this content, please click here

A
Beginner August 2007

Job related - WWYD?

alison76, 1 October, 2008 at 12:55 Posted on Off Topic Posts 0 9

I have a dilemma and wonder if I could share and gauge opinion?

Most of you know, I work for Lehman and am in a precarious position job wise...to say the least. I've been busy interviewing for the last 2.5 weeks since it went tits up here. I have 7 so far - 3 of which are going no further and others I've not heard about yet.Only today's interview is actually something I'd really like to go for if offered.

I've just been told by my boss that I have a contract here until Xmas and will receive a bonus on or around 31st Dec if I stay until then. The bonus is roughly 80% of what I would have got in normal circumstance. I'm stunned - it's almost 3 months salary before tax - double any bonus I've ever received before (this is my first year of being eligible here). There is also a possibility of a job after that within the new company set up due to buy-outs.

My dilemma is this. Do I tell recruitment consultants I'm now no longer available until 1st Jan? Or do I carry on with the interviewing process knowing that I have this fall back? I can continue to interview and if something amazing comes up then I decide what to do.

I hate decisions! WWYD?

9 replies

Latest activity by alison76, 1 October, 2008 at 13:40
  • claires
    Beginner July 2008
    claires ·
    • Report
    • Hide content

    I wouldnt burn any bridges at this stage if it were me. i would carry on with interviews and see what happens. the perfect job may come along and then this wont be an issue

    good luck x

    • Reply
  • Dr Svensk Tiger
    Beginner
    Dr Svensk Tiger ·
    • Report
    • Hide content

    I would continue with the interviews, I always like to keep my options open.

    • Reply
  • Tulip O`Hare
    Beginner
    Tulip O`Hare ·
    • Report
    • Hide content

    Keep going with the interviews. You can always turn them down if the offer isn't good enough to tempt you away, plus this is a great bargaining chip if you're feeling cheeky!

    There's also the possibility that you could negotiate a January start date if you are offered something you like.

    Ultimately, it may well come down to a choice between a one-off payment and longer term security, and only you know how you feel about that.

    • Reply
  • Champagne
    Beginner June 2007
    Champagne ·
    • Report
    • Hide content

    In a lot of industries, 3 months notice is not unusual so I would let your agencies and any direct interviewers know that that's your status. Then you can get your bonus and start your new job in the new year. Get the contract in writing though and ensure that if you leave on 31st Dec/1st Jan, you still get the bonus. Some companies withhold bonus from your resignation not leaving date.

    Good luck!

    • Reply
  • A
    Beginner August 2007
    alison76 ·
    • Report
    • Hide content

    Thanks all.

    I have it in writing and actually checking the small print it says it will be paid in next convenient payroll following 31st Dec (so long as you haven't resigned before the payment). That means 21st Jan unless they do it differently.

    Hmmm....my H thinks I should tell the consultants I have this offer and therefore only want to hear about really good roles paying at least my current salary if not more - I had been considering a wage drop of up to 2K.

    • Reply
  • KB3
    Beginner
    KB3 ·
    • Report
    • Hide content

    I suppose it's just like being on 3 months notice. It's not that unusual. I'd be inclined to tell the recruitment consultants your slight change in circumstances.

    • Reply
  • Emsy Truff
    Beginner
    Emsy Truff ·
    • Report
    • Hide content

    I'd be honest to a point with the consultants, so they don't waste time contacting you with jobs that aren't going to tempt you financially but as others have said, don't write off a move completely. If people know your situation with regard to the bonus potential, they may be prepared to consider that when making you an offer.

    Sounds like you are in a much better position than you thought you would be when the news originally broke.

    • Reply
  • M
    Beginner
    Mrs JMP ·
    • Report
    • Hide content

    Are you going to be part of the buy out or are you still in no man's land? Is your department separate to to ones being told today what's going on?

    I think - I would be more inclined to look beyond December - Do you see a progress where you are now? Can you current role be expanded or would you have moved on regardless to what's happened.

    • Reply
  • Ms T
    Ms T ·
    • Report
    • Hide content

    3 months notice is not unusual so I would expect that when you are offered a new job your new employers would understand. I would just keep as many options open as possible and if the right job comes along and you do need to move sooner, as lovely as the lump sum would be, you'll be happy to go anyway.

    • Reply
  • A
    Beginner August 2007
    alison76 ·
    • Report
    • Hide content

    There is a good possibility that my boss will be offered a role in the new set up - our department is one of those key ones for the day to day running and also winding up of the business. But obviously we don't know until things work themselves out and he wants to see this role through to the end - he's working closely with the administrators.

    Who knew my move to compliance would work out this well! He's already said he would be keen for me to move with him and there could be a role for me. So it's an extra option to consider.

    Thanks for all responses. I think I will tell the agency about the change.

    • Reply

You voted for . Add a comment 👇

×


Related articles

Premium members

  • Q
    Qa Test I got married in August - 2022 North Yorkshire

General groups

Hitched article topics

Contest icon

Win £3,000 for your wedding

Join Hitched Rewards, where you can win £3,000 simply by planning your wedding with us. Start collecting entries, it's easy and free!

Enter now