New job stick or twist money make over

N

Newtotheworld

Registered User
Messages
20

New Job offer, stick or twist.

Hi i am looking for some help and decision on is new job the right decision. Current job Is a technician working in an American owned multinational manufacturing plant. I work shift work days and nights. 4 weeks days, 4 weeks nights. 2 days on 2 days off 3 on 2 off 2 on 3 off repeat. Same on...
www.askaboutmoney.com

Age: 38
Spouse’s/Partner's age: 30
Number and age of children:
1 child under 2

Income and expenditure
Annual gross income from employment or profession:
69k plus average 9%bonus
Annual gross income of spouse: 34 k
Monthly take-home pay €5,800 combined
Type of employment: me private partner public
In general are you:
(a) spending more than you earn, or
Spending more than save
(b) saving 400 per month
Saving of 20k combined

Summary of Assets and Liabilities
Family home worth €385k with a €262k mortgage
Defined benefit pension fund: € i dont know
Company shares : €20k
Partner has public service pension 6years service
Family home mortgage information
Lender aib
Interest rate 2.15%
If fixed, what is the term remaining of the fixed rate? Fixed 4 years left
28 years left on mortgage
Other borrowings – car loans/personal loans etc no, 2 cars both ownee worth 13k
Do you pay off your full credit card balance each month? Have none
Life insurance: company death in service 3 times salary
What specific question do you have or what issues are of concern to you?

New job offer service engineer going site to site for servicing mutitnationals systems.
Monday to Friday
9 to 5.30pm
No nights
50k base overtime available. Bonus upselling new products to clients
Company van that i can take home.
phone and fuel card
Health insurance only cover me not family package.
Lunch allowance 50 per week.

Current role is nights and days.
12 hours shift 4 weeks if each. Work every second wkends as part of working week.

Can i afford new job.
Would you take new job to get.off shift.

Moderator note:
Query from previous thread (shown above) regarding pension added below:

There is one issue between the choices it is i am currently on a Defined Benefit Pension with 10 years sevice
If i go to new job my DB pension ends and i will be on Defined contribution pension.
I can keep my DB pension in the plan and i get what ever value i have built up on retirement and start the new defined contribution pension with new job.
 
How is your childcare organised? Will you need more if you move to a day job? And what is the average monthly cost.

I just read this post so I see the question about the pension.

With all the info you have given I would move to new job. You have the 10 years db pension banked, starting a dc pension will allow you to save for your retirement.
 
Last edited:
I would move job but it would be for the lifestyle choice and not the money. Working nights and weekends is very tough on family life and you will miss out. When your child is a bit older and playing sports, you will miss loads of chances to cheer them on from the sideline. And that is something that you will regret and your child will notice. Never mind the other family things that you can do at the weekends.

I certainly wouldn't give up all those moments you can have with your family for a DB pension at age 65.
 
I would agree with the above, it doesn't sound like the extra money is worth everything you have to give up, working a regular 5 day week males a big difference to family life as well.

As someone else asked would you move from the proposed job to a shift based role for more money? probably not.
 
The net income loss is circa €800 a month after tax, prsi & USC. So fairly substantial.

Where is that made up -

Lunch allowance €200
Using company vehicle for personal use €250 (saving in fuel, tax, insurance, maintenance & NCT fees, but small BIK might apply)

But deduct €70/m health insurance, spouse at age 30, so a basic plan will suffice.

Net 380 leaving net €420 "cost"


You said in the previous thread that they offered you the position after first interview. Let them know that the current level is too big a financial change and you would need the offer to be over €55k. You may end up at €54k and then the net loss would be less than €250 a month and that is then well worth it.

Remember, the extra you negotiate now will be extra for EVERY year until you hit the max scale.
 
Hi @Newtotheworld,

I too can relate having worked (& enjoyed) 12 hour cycles for years. The coin was good & I liked the time off but I didn't do it as a parent.

Many of the posts are focussing on the obvious health benefits & the financial & time implications, one question that I think has not been addressed is whether you are good with the actual role driving between sites & servicing the equipment? Are the sites widly dispersed? How much bum in the car seat time are you talking about per week? Are you good with that?
Last service call on a Friday is 200km from your home & is scheduled for 1600 - how does that work? Are you paid to drive home or you're off the clock at 1730?
Are you good with dealing with many customers over the course of the week in the knowledge that some of them will be nicer than others?
Do you know a couple of Colleagues in this role currently, can you have a chat with them for some insight?

You may have addressed all this in your head already but I wanted to call it out just in case those questions have not been completely addressed.

Best of luck.
H.
 
Horatio said:
Hi @Newtotheworld,

I too can relate having worked (& enjoyed) 12 hour cycles for years. The coin was good & I liked the time off but I didn't do it as a parent.

Many of the posts are focussing on the obvious health benefits & the financial & time implications, one question that I think has not been addressed is whether you are good with the actual role driving between sites & servicing the equipment? Are the sites widely dispersed? How much bum in the car seat time are you talking about per week? Are you good with that?
Last service call on a Friday is 200km from your home & is scheduled for 1600 - how does that work? Are you paid to drive home or you're off the clock at 1730?
Are you good with dealing with many customers over the course of the week in the knowledge that some of them will be nicer than others?
Do you know a couple of Colleagues in this role currently, can you have a chat with them for some insight?

You may have addressed all this in your head already but I wanted to call it out just in case those questions have not been completely addressed.

Best of luck.
H.
Click to expand...
Hi thanks
Ya the bum in the car time is something i am not sure of exact dotted line in terms of road time. Do companies normally pay for overtime for the journey home after clock off at 1730?
Sites are within the one province
I don't know anyone in there but I have 2 friends that do different maintenance work for a different company who got off shift for fairly same reasons and are working 8 to 4/5 and they love the freedom of being outdoors and on the road going from job to job is a break for them they can unwind listen to music and have a coffee on way to next job rather than be stuck indoor in a factory all day.
Technically I'm very capable to do the Job. i have a trade similar to the line of work.
 
peemac said:
The net income loss is circa €800 a month after tax, prsi & USC. So fairly substantial.

Where is that made up -

Lunch allowance €200
Using company vehicle for personal use €250 (saving in fuel, tax, insurance, maintenance & NCT fees, but small BIK might apply)

But deduct €70/m health insurance, spouse at age 30, so a basic plan will suffice.

Net 380 leaving net €420 "cost"


You said in the previous thread that they offered you the position after first interview. Let them know that the current level is too big a financial change and you would need the offer to be over €55k. You may end up at €54k and then the net loss would be less than €250 a month and that is then well worth it.

Remember, the extra you negotiate now will be extra for EVERY year until you hit the max scale.
Click to expand...
Thanks Peemac i have follow up with them this week i have a few questions to put to them.
 
Clamball said:
How is your childcare organised? Will you need more if you move to a day job? And what is the average monthly cost.

I just read this post so I see the question about the pension.

With all the info you have given I would move to new job. You have the 10 years db pension banked, starting a dc pension will allow you to save for your retirement.
Click to expand...
We have Qualified for some payment for ncs scheme, not much but better than Notting, my partner is going take 2 days off per week and child will be in creche for 3 days full time. Not sure the cost but its its something that has to be done.
Thanks and thanks re the pension.
 
Steven Barrett said:
I would move job but it would be for the lifestyle choice and not the money. Working nights and weekends is very tough on family life and you will miss out. When your child is a bit older and playing sports, you will miss loads of chances to cheer them on from the sideline. And that is something that you will regret and your child will notice. Never mind the other family things that you can do at the weekends.

I certainly wouldn't give up all those moments you can have with your family for a DB pension at age 65.
Click to expand...
thank you.
 
Blackrock1 said:
I would agree with the above, it doesn't sound like the extra money is worth everything you have to give up, working a regular 5 day week males a big difference to family life as well.

As someone else asked would you move from the proposed job to a shift based role for more money? probably not.
Click to expand...
thank you.
 
You must log in or register to reply here.
Back
Top