Job Security vs Pay

LMika1234 on 03/04/2017 - 17:17

Hi All,

I have been offered an 18 month contract position (construction engineering) with pay $120-130k. This will involve working 12 hours days and away from home (10on/4off).

Currently I am working in a public sector enigneering role earning ~$80k, home every night.

My question is, how does everyone here balance the trade off between financial prosperity and work/life balance. Also is a contract a bad idea if you have a mortgage?

I am 29 and have no children, but a partner of 5 years. Genuinely appreciate any wisdom or guidance.

Education & Work

Comments

  • Donaldhump on 03/04/2017 - 17:23
    +8

    go for it. if you back yourself skill wise, do it.

    your nice cushy job may make you redundant at any time.

    • Mika1234 on 03/04/2017 - 17:27

      Skill-wise its fine, worked 3 years in private before going to government (due to a lack of work/job security). May just need to update some training. Thanks for your input

  • mskeggs on 03/04/2017 - 17:30
    +9

    I know a couple of FIFO workers pretty well. One is now divorced, another relocated his spouse to stop the FIFO.

    I would do it if the alternative was unemployment. Not otherwise (assuming you love your spouse, of course!).

    More generally, the trade off of money for lifestyle is almost always fraught. You get used to the extra income so quickly, but longer hours etc. never get easily bearable.
    I think there is good reason to work hard and commit a lot to get your income up to the level where it provides security against day to day dramas. I've seen research that pins that level at around $50k p.a.
    After that, I think extra work for extra pay becomes a hedonic treadmill and you can easily find yourself working long, unsatisfying hours.

    • Mika1234 on 03/04/2017 - 18:26

      This was one thing that bugged me last time I worked FIFO, looking around see those a generation beyond me and knowing the majority had a broken home situation. Definitely a consideration.

    • elliebargain on 04/04/2017 - 12:18
      +1

      I came to say this too! I work in an industry that does a fair bit of FIFO and basically everyone is divorced and/or has health problems. It is really hard on the workers and their families (hence the high pay - it sucks!). Do you want to spend the majority of your nights alone in hotel rooms missing your SO?

      Hedonistic Treadmill is right.

  • dasher86 on 03/04/2017 - 17:34
    +10

    Talk to your partner first.

  • Youfah Mizzum on 03/04/2017 - 17:59
    +6

    What dasher says.

    I can relay my own personal experience in the money/lifestyle tradeoff.

    I currently have the benefit of working from home 4 days a week. I'm paid roughly $80k.
    I could pretty easily land a job earning $110/120k but I'd be commuting to some office, 4 hours (roughly) commute each day - I live on NSW Central Coast and I'd not be able to commit to some evening activities I get up to a few days a week.
    I'd rather the lower pay, but score the lifestyle.

  • trustnoone on 03/04/2017 - 18:07
    +1

    This is basically what I've heard from mates but:

    FIFO can sometimes be difficult mentally as well, even if your doing 12 hour days the rest of the time your by yourself in a small room, bored waiting for work the next day, it can sometimes get to people especially by being away from your partner (and friends). Honestly I feel theres a reason why the money is much more and part of that is enduring it. With 10on 4off it sounds like you'll basically only see your partner 4 days a fortnight?

    The other thing is I've /heard/ that the public sector is quite good compared to private companies (worse still for fifo) in terms of stress and amount of work. So it might be quite the work jump from one to the other.

    I don't know where your doing your fifo work but sometimes its in small towns (which is why they need fifo) and as someone who lived in a small town sometimes we have a very group mindset (basically it can be difficult to not feel like an outsider and make mates with people there).

    Lastly as someone who lived near a mining company a big part of you being on a contract is sort of like you're easier to let go, you're one of the more expensive people to the company and thus when push comes to shove contractor fifo workers are typically quick to go (though I'd imagine thats less so in engineering).

    The advantage is obviously the money is great, if you and your partner can deal with it for like 5 or so years (and they need fifo for that long) you'll have that mortgage and stuff paid in no time. Also probably good to keep in mind that it sounds like you've got quite a good experience background, so I'd imagine even if you were taken off the contract you'd get a job pretty quick?

    • Mika1234 on 03/04/2017 - 18:32

      The project is actually near the town I grew up, so I have friends there and know the area pretty well. The mortgage push is probably the main motivator.

  • weezlebub on 03/04/2017 - 18:13
    +1

    key elements to consider:

    Is the Government job permanent?
    Is there a chance of a promotion?
    Will the new job provide you with new skills? Make you more hire able?

    80k - 120k is a descent amount of money, but you're sacrificing your work life balance …

    FIFO can either be really good or really bad, if your partner has time to spend those 4 days together, then it can be really good, if she'll be at work most of the time, then does that leave much time for the relationship?

    • Mika1234 on 03/04/2017 - 18:30

      Government job is permanent, prospect of promotion (8-10k)in the next 12-18 months I would say.

      The new job would provide experience on a larger project with a larger company than my previous.

  • Make it so on 03/04/2017 - 18:18
    +5

    Depends what state you are in. If you are in WA, hold onto any job you have for dear life.
    Many people (especially engineers) have lost their job in WA, and are having to move interstate to find work.

    Importantly, as others have noted, the cost on your mental health and social life should not be underestimated. The mining boom destroyed many FIFO workers' lives.

    Based on what you describe, you would get 1.5 times the pay, for working 1.5 times the hours, but under worse circumstances. That does not sound like a good deal to me. Consider working more hours in your current job, or getting an additional job, if you are desperate for money. Or consider doing more study in order to get the higher pay grade.

    • Mika1234 on 03/04/2017 - 19:52

      What you've said makes sense. I am actually currently doing post grad studies in construction management, which I would have to slow or maybe stop.

      On a side note, my sister and brother in law both work in WA for a large engineering contractor. He works along the lines of 20 on 5 off

  • Natt on 03/04/2017 - 18:37
    +6

    Ask your PS employer if you can take unpaid leave. If you are really keen to take up the offer.

    You may be able to return to your original position after the temp job

    • Qkumber on 04/04/2017 - 09:28

      If they are keen to keep you they may even offer incentives to keep you like study leave, further career development

    • weezlebub on 04/04/2017 - 12:08

      Good point, i know that with SA state government, you can do a 12 month secondment, you might be able to do 12 months unpaid leave with the government and have the security of your substantive …

      That would allow you to get the experience, try it out, they'll often let you come back early if it's not working out, it also shows that you've got aspirations, rather than just being a PS drone

  • Gunther on 04/04/2017 - 09:54
    +1

    Ive done both, keep the Government job. Enjoy your work/life balance.

    It real dollars its less than $475/week ($95/day) increased income after tax, probably even less if you include public sector benefits like salary sacrificing, concessional days, etc.

Login or Join to leave a comment
Login Join