Hi everyone,
I am in the UK. 2 months ago, I was suddenly asked to choose between these 2 options and given just 24 hours to decide after 9 years working there:
1) Be made redundant (instant job loss – would get 3 months pay + stat redundancy pay + unspent holiday paid out)
2) Stay on for 6 months: 3 months at full pay, followed by 3 months at 60% pay (+ unspent holiday paid out), if I would agree to resign
I was only given two options instead of just option 1 because I am currently doing a degree through my job and I would need to be affiliated with my workplace to finish it. Financially, the two options work out similar-ish. I chose option 2 and I’ve been progressing with the degree.
I feel really low – as I’ve only got 2 weeks more of full pay of the agreed 3 month full pay left, before I have to go onto 60% pay for Oct-Dec.. and then I have to leave. I’ve tried applying to 20 or so places but not nowhere with it despite me ticking 90%+ of the requirements..
I also have no idea what to say when potential employers ask for my notice period… I mean, technically I could start at a new job tomorrow but in reality not as I still the workplace affiliation to finish my degree in the next few months. Also, I’ve been told I will only be paid until the day I leave i.e. I won’t get the 60% pay for Oct, Nov, Dec if I leave at the end of this month for example (which feels unfair given it is what I would have got via the redundancy route anyway and I’ve been a star performer at this company for 9 years). So, I struggle with the gamble of leaving before Dec for a new role (IF I get a new role), missing out on money I’d get for sure from my current workplace for a new role where say, if I don’t pass probation, I would have missed out on the money from my current workplace. Plus, 90% of job adverts don’t disclose the pay band and will instead just write “competitive” which provides no indicator. The jobs that have publically listed their salary – it seems lower than what I’m currently on at many places, because the job market is saturated with candidates so they can get away with paying people less.
I just feel low as I’ve never been unemployed. Even when at uni, I’d always have jobs/internships etc. lined up for the holidays.
It all feels strange as I’m highly qualified (currently doing my third degree) after 2 degrees from one of the top unis in the world, lots of experience – management, technical, etc. spanning fields, several big wins I’ve highlighted on my CV, first authored papers, etc.
Feel hopeless about it all – especially as any person who I see get a new job these days seem to be via a referral