Changing Job during recession : Advice needed

I have a stable (safe’ish) job at the moment, and I’ve been working in this company for almost 9 years. Only –ve thing is, it’s kind of boring and not challenging enough for me. I was afraid to even try for a different job during the recession.
I recently started applying for jobs, and now I have got a decent job offer. There is not much difference in pay packet. But the job is challenging and interesting.
Now, i’m in a dilemma whether to go for the new job or just stick on to the old one.
Positives and Negatives of both scenarios as far I can think are below:
Current Job :
Positives
Pays the bills, stable enough and safe. Even if I’m made redundant, I’d get some amount (even the statutory redundancy pay, which can be decent enough as I’m here for so long).
Negatives:
It is not really challenging and I’m not liking the work

Potential new Employer:
Positive:
Challenging job, looks interesting, and will get similar pay as my current job
Negative:
Due to the ongoing recession, if in case I lose my job, i’ll be left with nothing (as I don’t have enough savings to survive even a month).

Could some experienced professionals please suggest me the best step I can take.

Cheers,

Hi,

Ultimately, this is your decision... but... my 2 cents worth...

New & exciting job (from the outside) may not be all it's cracked up to be in reality...

Just regarding your current job - are you able to change your role within the company, change direction / day to day work etc... Not too sure what field you are in / age / responsibilities outside of work (family / mortgage / loans etc). From my own experience, if you can change roles within the company then go for that. Assuming there is scope, then it is up to you to drive yourself forward & see what, if anything, is there for you. If you don't feel that your role could be changed, then can you imagine yourself there another 3 years doing what you are doing now? I was lucky enough to be able to change roles within my field (I'm in I.T. part of a multi-national) - working with a great diverse team & dare I say it "work is fun again"...

If you can't picture yourself there in 3 years time and enjoying it, then it's time for a change & grab that new job with both hands & throw yourself into it... BUT there is no guarantee that you will not be feeling the same in 2 years time... but - that is to worry about in 2 years time

Good luck with the decision...

Thanks very much Jazz for your time and your post. It is really helpful.

I'll be same as you (working in IT). I have a mortgage and a family of 4 to feed. That's the reason I've been thinking so long and hard. Otherwise I would have changed the job long time ago.

Never thought of changing departments to see what I could do. Will try and explore the opportunity here.

Thanks again.

Jazz answered your question well. But remember faraway fields are green.

However, you answered your own question too "Due to the ongoing recession, if in case I lose my job, i’ll be left with nothing (as I don’t have enough savings to survive even a month)." I think you would be irresponsible to resign.

Best of luck with the internal job change though.

IMHO its crystal ball stuff really.

Me being the boring steady type and with your responsibilities I think you would be mad to move in these recessionary times. If you did move and hated the new job your options may be few and far between. Wouldn't look too good on the C.V. either. Devil you know as well and all that stuff

Hope things work out in the long run.

Opportunity sometimes knocks very softly so RUN LIKE THE WIND and grasp that opportunity before someone else , remember sucess comes to the one that acts first.

wearing the T shirt ......

good luck.

IT and the recession are two separate worlds. For most IT roles demand exceeds supply so the risk of being unemployed for any length of time is quite low. Of course this could change in the future but predicting that would require a crystal ball.

You should examine the financial risk separately. Even with the stability of your current job, there is always a need for a financial buffer to plan for the unexpected whether it is medical, family, transport etc. You should look at the money makeover section to see if there is a way to build a rainy day fund.

When examining the new job, If the pay is the same and your current earnings just meet your current outgoings, it is important to look at all the aspects of the package including bonus, healthcare for yourself and family, canteen, parking, pension, perks etc.

IMHO you spend significant part of your life in work and being happy is important for both the time you spend in and out of work.

People in the IT sector are generally open at sharing information. Looking at something like Linkedin you should be able to identify a person who might know someone in the company that you are looking at. There is nothing better than asking someone at the coalface to see if the sales pitch matches the reality.

Thank you so much folks for all the advice. Will take some time off and think more about this. But I'm inclined towards just staying in the same company and try for a new role. Lets see how it goes.

Cheers

skyhigh said:

I have a mortgage and a family of 4 to feed.



Thanks again.

Click to expand...

Stay put

Most employers who are up to speed realize that their employees need stimulation and this is not always available from their work.
It may be possible to put yourself forward within the organization for more challenging positions.

I agree with the other posters that the grass looks greener on the other side of the hill.
At the bare minimum you need to talk to people doing the same work or in the other firm and get a feel for what it entails.

For example -

I am aware of an up and coming solicitor who was head-hunted by another form at higher salary, etc.
Turns out they didn't offer a comparative library facility and no assistant to prepare cases.
The solicitor is now in a catch-22 where they are less effective but working harder.