Take the money and run? Severance and a job I love.

[Fizgig]

I work on the space shuttle program and it is ending. There are two, maybe three flights left. Depending on technical delays to the missions, the program could end anywhere from May - October and once they're done, I'll either be laid off (95% chance) or be reassigned to a boring job I don't want (5%). If I'm laid off I'll receive approximately 6 months pay as severance. If I'm offered a job and don't take it, I'll receive nothing.

I've gone through the stages of grief and am emotionally ready to leave and move on to other things. I'm excited to relocate and start something new. I'll miss the good old days, but life goes on.

I'm a candidate for a job in Boulder (where I REALLY want to live) doing an exciting job with lots of possibilities for personal growth, but at a pay cut and cost of living increase. That's okay, I live cheaply and will be more than okay at the salary. The first interview (phone) went GREAT, and my second interview is in two weeks. I have personal contacts in the department. I think there's an excellent chance that I'll be offered the job, but nothing is certain.

Here's the dilemma. My company will be having a cut in April, and people can volunteer for the layoff and take the severance. They announced yesterday that the window to volunteer will be from THIS Friday until next Wednesday. I cannot ethically ask my contacts in the department where I stand among the other candidates.

Do I roll the dice and volunteer? I KNOW that I'm leaving this job, it's just a matter of when. Once you volunteer there are NO BACKSIES. I honestly do not need the severance, but I would like it. Reasonably invested it could become half a million at retirement. It'd irk me terribly if a two week delay kept me from receiving that money.

If I take the layoff and am not offered or accept the job, it wouldn't be the end of the world. I've financially prepared myself so that I won't have to accept just any job, and I am genuinely confident that I'll find something. I could hold on for years without a job if I had to, but would of course prefer to work in a fulfilling career.

What would tear me up is not getting this (or another) job, and hanging around the house while my buddies fly out the last few missions without me.

What would you do? Thanks for reading all of this. This is the biggest decision I've had to make in a long time. I've been here nine years and had the time of my life. It breaks my heart to leave but it's going away anyway - it's counted in months now. (sigh)

[buildmybudget]

Sounds like you need a good ol' fashioned PRO/CON list. On the one hand you know you're leaving, can volunteer for the severance(which you've said you don't even need), and have a great shot at the job opportunity in Boulder. The opportunity cost of which being getting to spend the time with your friends on the last three flights. As you said, if you don't get that position, another position will come along. On the other hand, if you stay you get to spend more time with your friends on the last three flights and will likely still receive the same severance pay. The opportunity cost of which is the job opening in Boulder. Sounds like you've got to either commit to the opportunity in Boulder or spending time with your friends. Good luck, that's a tough choice to make!

[Fizgig]

....This is also my last opportunity to volunteer and accept the severance. From here until the end of the program (really just a matter of months, 5-10), if I leave to take another job or for any reason, I'll be leaving 40k (pre-tax) on the table.

[creditcardfree]

Do you have other job opportunities? Are you in a position to be quite marketable? If yes, I might take the gamble and leave to know that you have $40K to cover you while you would look for another position, but might actually have a job in the very near future.

Of course, if there were no serverance you likely wouldn't be leaving until the job ends. The money complicates things doesn't it?

[jpg7n16]

I think... you've got 4 months to decide - so I'd wait and find out what's up with the job in Boulder before making the decision on volunteering or not.

If I got the job in Boulder, I'd volunteer for sure. I'd need somewhere to go anyways, so why not take a job I'd love, and get 6 months income guaranteed, ya know?

[Fizgig]

I think... you've got 4 months to decide - so I'd wait and find out what's up with the job in Boulder before making the decision on volunteering or not.

If I got the job in Boulder, I'd volunteer for sure. I'd need somewhere to go anyways, so why not take a job I'd love, and get 6 months income guaranteed, ya know?

Nope, I only have six days to volunteer for the April layoff. I have to give notice by Wed 1/19 to be eligible for the severance. If I wait until the job comes through and leave then, I will not receive it.

I am strongly leaning towards taking the gamble and volunteering. Sticking around after April will only provide a few more months of employment - six at the most. I'm leaving. It's certain. It's just a matter of when. Even if I do not get this job, I will not be in any financial peril for years.

[DebbieL]

I think you've really already answered your own question. You want to volunteer. I don't see much downside to volunteering for the layoff. Clearly you live below your means and it won't be financially disastrous to you even if the other job doesn't come through. You know the job is ending anyways - might as well take the buyout.

[kork13]

Interesting conundrum... Personally, I think I'd lean toward volunteering, taking the severance, and moving forward from there. Someone with your type of skillset will be in demand all over the place, because the industry is a fairly small one with a dearth of expertise. Even if the Boulder job doesn't pan out, there will certainly be other excellent opportunities for you.

Also, out of curiosity, where are you looking at working in Boulder (if you don't mind my asking)? Bell is the first company that came to mind, though I know there are many space-related companies in the area. I only ask because I'm a space junkie myself, and in college I spent a fair amount of time interacting with the aerospace companies up there.

[Fizgig]

This particular job is with the University of Colorado in their Aerospace Engineering department. There are a few other companies in the area - Ball and SpaceDev are probably the most significant, so I'm happy to be in the area and able to make contacts. Human space flight is is such chaos right now - retreating to academia for a few years while the larger community gets their act together sounds like a pretty good idea.

It's very difficult to rip the band aid off. I adore what I do,so leaving while I could still do it (for a few more months anyway) is emotionally very rough.

[kork13]

haha oops! "Ball", not "Bell"--for shame...
I definitely agree about human spaceflight, particularly in the US. With the shuttle going away and Orion not realistically on the horizon for at least a decade, there will be zero operations, with all efforts instead going into R&D and engineering. As an ops guy, that's depressing.

Definitely good luck with UC-Boulder! The good thing about 'retreating' into academia is that it can only bolster your resume, and if you decide later to go back into the industry side, options may well be opened up by means of the work you do and connections you make while at UC-Boulder.

[disneysteve]

I actually don't see this as a hard decision. I'd volunteer and guarantee myself the severance.

You know for sure that you are leaving this job within 6 months of the layoff date no matter what. The gamble, in my mind, isn't volunteering for the layoff. That's the sure thing. The gamble is not volunteering and taking your chances.

Why hang on to the bitter end? What benefit is there to you then either financially or career-wise? Better to lock in your severance, have a clear termination date and move on. Keep in mind that once the program ends in October, there will be a bunch of others just like you who all hit the job market at the same time. You've got a competitive advantage if you get out before them.

[cypher1]

I'd also take the severance and run if I was in your situation. I may be in a similiar situation (minus a nice severance) later this year with layoffs at my work. I can definitely relate to the friends aspect, since I'm grateful most of my team I consider very close as friends. That makes it so much easier everyday.

But at the end of the day, you have to look out for yourself. And if you know 95% you may lose your job, they've definitely given you a window to exit ahead, while many others probably wouldn't be as fortunate. Whether Boulders works out or not, you have x amount of months paid for in advance to look at new directions, or take a nice long vacation and reflect on what is the next adventure to experience. Otherwise stay there for that other job, miss the severance and possibly be miserable only to end up looking for another job 4 months later. Sorry to sound negative at the end of my post.

[feh]

I'd take the severance now.

[snshijuptr]

Take the opportunity now and apply for any and all jobs you can find. Call up your contacts and let everyone know that you are looking for a new job. If you're lucky, you won't have any break in work and you can keep the severance for retirement (sweet!)

[cjscully]

I wouldn't even hesitate. I'd volunteer.

This change is going to be emotionally difficult later too. Delaying it won't make it any easier. The question is do you want to go through the emotional part with the extra money in the bank or (potentially at least) without it? Take the money and move on.