What would you do...

[ProdigalHorn]

**DISCLOSURE** This is clearly not a West Mall post, but not sure where else to post it where people would actually see it and respond to it in the next couple of days, so... oh well.

My situation is this: I'm in a job now that is not going to be my final job. It was a stop gap and while I enjoy it, it has its limitations and doesn't have a lot of prospect for upward mobility. (Marketing, fyi) Pay is decent but definitely not great.

I may have an opportunity to take a temporary, hourly gig that will last through the end of the year. It would more than double my current salary, but obviously with no benefits and no paid time off. It would also give me a lot of additional hands-on experience in some areas where I'd like to strengthen my resume. There's a possibility that it could go to full-time at the end of the year, but I can't count on that. I have to assume that at end of year, I'd be looking for work.

At the end of the year, by my calculations, and assuming I don't go on a spending spree, I will have earned about four months' living expense above what I normally would have made (my salary here covers my expenses with a little to spare, but I'm definitely not socking a lot of money away right now.) It took me six months to find a job the last time I was downsized (a year ago), but I would also have more meat on my resume this time around, and would theoretically be starting to look for a new position around the time when the hiring cycle starts up again.

What would you do?

 

[Seattle Husker]

[Taking off my political filter]

That depends on your risk aversion and family situation. The 'gig' economy is viable thus there is always another consulting opportunity around the corner. Of course, you may need to be open to travel.

I was faced with a similar choice recently after making a decision to make a shift from my last employer. With 1 son in college and another 2 in the next 3 years, stability was most important for me. After the kids have moved on my intention is to follow the consulting $$'s for the last 10-15 years before retirement to maximize my retirement income.

[Putting political filter back on]

 

[mchammer]

Always maximize your skill set. Always! It is the skill set that gives you leverage over employers.

 

[mchammer]

Let me elaborate. I help another division that is actually a different legal entity than my home legal entity that actually pays my salary. I’ve been working with them for the greater good of the corporation for over 10 years now. It ranges from 5-80% of my time. People in my division know that I can switch over any time I want to. In two years, I actually got paid annual bonuses from both divisions! Leadership in my division don’t give me **** from a career perspective (they do push my other buttons but that’s a separate issue).

 

[Dionysus]

I say fly solo if you can, and try to build a clientele. Employees have one customer, consultants/freelancers can have many. I know full-time employment feels safer but job “security” is a delusion, imo. I think we have to get out of our comfort zone to make something special happen.

The 'gig' economy is viable

Agree!

Always maximize your skill set. Always! It is the skill set that gives you leverage over employers.

Agree! You may also consider other avenues of learning, certifications, etc to enhance your professional profile. Sell the best product you have: yourself.

I left a corporate job, nice salary, benefits, etc, in 2014 to strike out on my own, and it’s been a lot more work but a far greater source of satisfaction and enjoyment of what I do every day.

We came into this world with nothing and we’re going out the same way. May as well try to create what you want.

Good luck Prod! I hope you’ll post updates on your journey here.

 

[Horn6721]

I will just echo Dion. If there is anyway ( and even if it isn't this year since you do need a pretty good stash to live on until you get it going)
if it is not this year make it a priority to create a nest egg so you can veer off in the future. You sound like you have extreme work ethic and centered character, traits needed to go on your own

Those who are lucky enough to work for themselves will tell you they would rather work 60-70 hrs for themselves than 40 for someone else.
And there will be 60-70 hr weeks but it really isn't like working when it is for yourself.

Good luck and maybe share with us how it is going?