Rock and hard place.

mattd85

mattd85

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Hi all,

Tough day in work today with the announcement of redundancies! :'(

......But it's got me thinking. Now I'm confident enough that I will not be selected but, There asking for volunteers and I could walk out of their with the best part of 12k, just under 5 months pay. I know this is not a lot of money but I don't plan on working shifts all my life, I actually want to make a career out of photography.

I'm still young(ish) 28 so I could always land a job back being a chef or somewhere else if things didn't pan out?

What would you do in my situation?

Thanks

Matt

p.s Mods I was going to post in business section but I feel here is best as I'm basically just fishing for thoughts?
 
Stick with the job for now, my nephew took voluntary and got just on 15k thinking he could easily get another job (uni degree and fully IT trained).

That's was 13 months ago and he is still looking, gone through his money plus some savings, his working part time at Sainsbury for the moment.
 
beefybarn40 said:
Stick with the job for now, my nephew took voluntary and got just on 15k thinking he could easily get another job (uni degree and fully IT trained).

That's was 13 months ago and he is still looking, gone through his money plus some savings, his working part time at Sainsbury for the moment.
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Ouch! Hope he finds something soon.
 
In this economic climate I feel its better to stick with what you have.
 
It's a difficult one buddy, you've got talent with your photography and its more than possible that you could take the money and it be a nice cushion to get you started in the self employed route, but equally we all know its not exactly the best time to be trying to sell a premium product that is photography it's a luxury and many people at this time are simply not spending on luxuries...ultimately only you and your good lady can make the decision but I would be minded to say at this time don't jump...if they move to make you redundant then take the money and try to make a go of it, but if your not being made redundant I think I'd personally prefer to stay with employment and work on getting the photography going on a more and more
 
beefybarn40 said:
In this economic climate I feel its better to stick with what you have.
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True.


MWHCVT said:
It's a difficult one buddy, you've got talent with your photography and its more than possible that you could take the money and it be a nice cushion to get you started in the self employed route, but equally we all know its not exactly the best time to be trying to sell a premium product that is photography it's a luxury and many people at this time are simply not spending on luxuries...ultimately only you and your good lady can make the decision but I would be minded to say at this time don't jump...if they move to make you redundant then take the money and try to make a go of it, but if your not being made redundant I think I'd personally prefer to stay with employment and work on getting the photography going on a more and more
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Hi man,

Yeah hear what you're saying bud, plus leading into Xmas aswel I suppose it would be nice knowing I've still got employment etc.

I just want it so bad, to be a full time photographer, lol!

Thanks lads :)
 
In your situation I'd probably apply for another job, if offered a new job then try and take the redundancy and the new job, if not just stay in current job. Moving to a new company can be risky of course....

The above of course depends on chances for promotion, current job satisfaction, financial status etc.
 
I really don't doubt that you will be a fully paid up professional photographer buddy...and that pressure of an ever decreasing bank balance would sure be a driver to get you working hard to be a success...but is it the right time to do it? I guess a good idea would be in the first 12 months how many shoots do you realistically think you could get in? And could you make them cover what you need?
 
akr said:
In your situation I'd probably apply for another job, if offered a new job then try and take the redundancy and the new job, if not just stay in current job. Moving to a new company can be risky of course....

The above of course depends on chances for promotion, current job satisfaction, financial status etc.
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Good advice.


MWHCVT said:
I really don't doubt that you will be a fully paid up professional photographer buddy...and that pressure of an ever decreasing bank balance would sure be a driver to get you working hard to be a success...but is it the right time to do it? I guess a good idea would be in the first 12 months how many shoots do you realistically think you could get in? And could you make them cover what you need?
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Thanks Bud :) Will be doing some thinking that's for sure.
 
mattd85 said:
Hi all,

Tough day in work today with the announcement of redundancies! :'(

......But it's got me thinking. Now I'm confident enough that I will not be selected but, They're asking for volunteers and I could walk out of there with the best part of 12k, just under 5 months pay. I know this is not a lot of money but I don't plan on working shifts all my life, I actually want to make a career out of photography.

I'm still young(ish) 28 so I could always land a job back being a chef or somewhere else if things didn't pan out?

What would you do in my situation?

Thanks

Matt

p.s Mods I was going to post in business section but I feel here is best as I'm basically just fishing for thoughts?
Click to expand...

Sorry to be pedant, they''re, there and their are all different and at 28 you should know this! :D :exit:
 
Giving up regular income for self employment could act as a spur to succeed, but it's risky and could also lead to a lot of stress, which can become a distraction. It really depends on your personality, how well you handle challenges like this, and your committments.

In your position, I'd try to retain my job for now, and develop my photography career part time. You can review the situation in a year or two, and work out whether this is viable as a full time occupation.
 
I recently had the opportunity to take voluntary redundancy. I'd have had 2yrs wages and my pension in 4yrs time (I'm almost 51). If I could have been sure of another "secure" job, I'd have taken the money and run. None of my mates have secured a job yet, 3 months later. You also need to factor in sick pay and the like. Personally I'm glad I turned it down. I'm retraining for a new job within the company and I get a 5% pay rise, so for me it's worked out great.
£12k is nice if you don't have to use it to live on. If it's to set yourself up in business, then it's worth considering.
 
It's better to be made redundant than take voluntary redundancy. With voluntary, you have made yourself unemployed and will not qualify for housing benefit, etc. if you should need it.

We had redundancies a few years ago. If I took it voluntarily I would have been given £16,000 (if they accepted). I could have lived on that for at least a year.

It was tempting but it wasn't a decision I wanted to make. I would have been happy to have been madee redundant as that would have forced me to look at other options.



Steve.
 
Are you confident that you can sell around £1,000 worth of photos per week? Every week, week after week?

Because that's quite likely what you will need to do to match your current income.
 
On the Huh said:
Sorry to be pedant, they''re, there and their are all different and at 28 you should know this! :D :exit:
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You cannot be pedant.

You can be a pedant or you can be pedantic.

and it is not they''re it is they're

Please excuse any grammar or spelling mistakes in this post :D
 
I lost my job in September and it's seriously hard work finding another, stick with it and build your photography business up on the side, then when your sure you have enough clients and can make it work go for it all guns blazing bud!!
 
Hmm, to fly in the face of all the good advice, what current commitments do you have, and what route are you expecting to take to make a full time career out of photography?
In my experience, the older you get, the more commitments you take on - family, mortgage and billswise, and that can all make it harder to ever leave full time, secure employment.

So, without knowing your actual position, I think it's hard to give advice, because sometimes it is easier to take a risk than others.
 
If your certain your not on the list, there is no way I'd pack a 28K a year job in on the HOPE of finding something else.
 
The problem is everyone is looking for good candidates and redundancy never looks great, even with the word voluntary.

Do you have any savings or would 12k be it? If that is all you have then you can easily spend 12k setting up a business and then where would you be? If you have someone supporting you who can cover all the bills then give it a try.

It depends where you want to be in 5 years, doing x, y and z or being a photographer and not doing x,y and z
 
If the 5 months salary is very close in amount to 5 months usual outgoings it is much more of a risk than if you have spare money each month. If you can cut back and survive a year on that money then it gives you more time to build up a business. In the run up to Christmas there should be plenty of casual work around but after it there is a dead zone and there could be nothing at all.

I'd keep the job and build the business outside of normal working hours. I'd also look at cutting outgoings so that there is a bigger gap between earnings and spending if you are spending close to what you earn every month. This way you can survive on less should you have to.
 
Do you know what? I'd say do it!

I'm 49 now and have probably wasted the best part of 30 years of my life doing something I 'needed to' because I was too worried to do what I wanted to do. Almost three years ago, I got dumped unceremoniously out of a job that I shouldn't have done and that made my mind up for me. It's been a damned struggle to do what I do now - which is what I want and we still go without - but with the support of my Wife (and kids in fairness), I now do what I want - and I'm a much happier person for it!

Be confident in what you can do... Cut back on everything you can, as it's not easy that's for sure. But if you're confident you can survive - and it is surviving until you reach a point, then go for it. :)
 
twice ive been made redundant, and both times i found a better job quite quickly. but i was either living with my parents or in rented accommodation at the time, so no real financial responsibilities.

Now, with mortgage etc, not sure what i would do. One thing for certain, i would polish off my cv, get it onto the relevant jobsites and start looking for a job quickly. If you could get a new job while the offer of a decent pay out is still on the table you will be onto a winner.
 
Honestly, I would walk and travel!

I lost my job at 26, I worked in a Comet to save up some extra cash, then went to Australia. Best thing I ever did. i had fun, made friends, got a new perspective on life and came back focussed and refreshed.

Obviously if you have a family, this is very different (I don't know your circumstances) but sometimes you have to take a risk.

My wife got offered voluntary redundancy from the prison service this year. She took it, walked out with a nice chunk of change, paid all our debts off bar the mortgage and now is in a job she loves. It was a bit hairy for a few months though as she did struggle to find something.

It is a risk, only you can decide if it worth it.
 
I took voluntary redundancy some 5 years ago. I went traveling for 6 months then started back on the work front. I don't think I would have done it just to change jobs though.

If you are confident you can get work again I would go for it, just use it wisely.
 
mattd85 said:
... I could always land a job back being a chef or somewhere else if things didn't pan out?

Matt

... I'm basically just fishing for thoughts?
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I might have misunderstood slightly, but with all these subliminal messages, is the £12K redundancy payout enough for you to open the "Rock and a Hard Plaice" chippy, you've obviously already found a name for? :naughty:
 
Yves Geza said:
I might have misunderstood slightly, but with all these subliminal messages, is the £12K redundancy payout enough for you to open the "Rock and a Hard Plaice" chippy, you've obviously already found a name for? :naughty:
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Quality !!:clap:
 
jon ryan said:
Are you confident that you can sell around £1,000 worth of photos per week? Every week, week after week?

Because that's quite likely what you will need to do to match your current income.
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How do you know his current income?


Steve.
 
Post #1 tells us his expected redundancy settlement along with the number of months' pay that equates to - easy arithmetic if you can remember the numbers...
 
Hi everyone :)

Firstly I would like to thank everybody for taking the time to give advice and share the stories and regret/positives from their lives, this is one of the many things that keeps people coming back to this forum, the friendly helpful user's :).

So..... After reading all the replies there is no way I could reply to everyone without repeating myself so I will try to some up what's going on.

In terms of commitments, We don't have a mortgage, we currently rent. I have two young girls and the wife works part time.

I have thought long and hard about it and the correct decision for me and my family at this moment in time is to stick with the secure job for a few more years and build up the photography side bit by bit, I just simply can't put the welfare of my family in danger to chase a dream that simply hasn't fully become a reality yet.

Once again thanks for all your comments, really means alot.


And sadly no......There is no chip shop called "Rock and hard plaice" although reading that today in work made me pmsl so loud people looked at me like a real d!ck....more than normal.

Thanks

Matt
 
Nod said:
Post #1 tells us his expected redundancy settlement along with the number of months' pay that equates to - easy arithmetic if you can remember the numbers...
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Except that most companies offer a much better package for voluntary redundancy than the legal minimum requirement.

When my company went through this, the amounts offered were about double.


Steve.
 
Glad you've chosen to stick with what you have. In this job market, and with the family obligations you have, it's really the only decision you could have made.
 
I was in this similar situation, I took the money and ran, as I could tell where I was working was having a really hard time for at least 3 years prior, sure enough 2 of us took redundancy out of about 30 of us working there, 3 months later the rest found the gates locked one morning with the receivers in, I still don't think the rest of the work force got any redundancy.
 
I'm just about to pack in my well paid job, move back to Europe and work for myself. Depends on your circumstances really.

I know in the field I'm in, with the experience i have that I can walk back into a well paid job whenever I want if it doesn't work out.

I've friends that have done the same 5 years ago and are loving life...I am working myself to the point of burnout in this crazy place and need a break. Cant wait :)
 
mid_gen said:
I'm just about to pack in my well paid job, move back to Europe and work for myself. Depends on your circumstances really.

I know in the field I'm in, with the experience i have that I can walk back into a well paid job whenever I want if it doesn't work out.

I've friends that have done the same 5 years ago and are loving life...I am working myself to the point of burnout in this crazy place and need a break. Cant wait :)
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there are a lot of unemployed people who thought the same thing - i'd urge caution
 
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