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[Markie]

Just checked its Widows...

[Albatross]

I'd take the promotion.

If you're that good that you have created a winning team, then rise to the challenge (which is what they want from you) and create the same winning formula accross the board.

Then your bonus will be even bigger.

That's if you're up to it...






 

[Martin_1962]

Just checked its Widows...

I'm with them - pretty good

[Chopsdad]

As your friendly Bank Manager - I think all the advise is sound and your probably right to take the new job.

£500 pm = £6000
Pay rise = £4000 + Pension

I'd be inclined to accept the new role on the condition that you meet in the middle ie £5k salary rise.  Simply explain you cannot afford and don't want to take such a big cut but having looked at your ougoings etc you can make it work at this level.

The alternative is they pay an agency £3k to find someone else - who'll ask for even more  - and probably get it.

The close would be ..... "I don't want to take a new role with any regrets - £5k will allow me to take the new position as a positive step" kind of thing.

Good Luck

[Kevin Wood]

Just checked its Widows...

I'm with them - pretty good

Unless you fly gliders and want life insurance.

Kevin

[keith2.2]

a company called scottish widdows is never going to be great on life insurance, is it  

[DaveyDavey]

Hmmm.....do the bonuses count towards your pension?

I would go with the promo.....but thats me.

Pension is non contrib and salary only - not including bonus....

So, the greater salary would be better for your pension which has to be taken into account.

Plus given the line of buisness your in, and the financial situation the world is moving into.....your Bonus might not be as big in 12 months time....or less.

Trouble is these days, you hear of too many pension companies collapsing, and not paying out anything...

That money could be spent on other projects which could make more money, or just take the extra money and save it away someware.

The tits up pension schemes were generally final salary ones (defined benefit), which are few and far between these days. Unless you either work for the government, who has a license to print money, or are one of the fat cats at the top and have a FS scheme as part of your package. - Works on the basis of providing a percentage of your salary for each year you worked for the company, the cost of this is unknown and potentially very expensive. People live longer and the pension scheme must continue to provide for them at the agreed rate.
 
Most company schemes have moved over to a "Money purchase" (defined contribution) system where they know how much is going out each month and can therefore budget accordingly. Each employee basically owns their pension and the company's only responsibility is to put money into it, what you get out at the other end is of no concern to them. This system is better for employers because they know how much they have to contribute in advance as it is worked out on a % of your salary.