Recently turned NRE, 20+ years, ranking is always fine. Another O&G Major recently made an attractive offer to me. Offer and position is appealing, but concerned I would be leaving too much on the table (mostly a huge hit to my future pension, retirement medical, etc., etc.) for a fresh start. Understand most majors are the same, but a new start is appealing. Would appreciate any thoughts on how you would evaluate/weigh the situation.
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Only you know your personal circumstances, but here's my thought process (I'm 50): too close to retirement to give up the pension, supplemental, and health insurance. I'm the principle breadwinner and didn't start until later in my life so not financially Independent. My dream "retirement" job has far less pay and would not cover the differential of what I would lose if I left before 54, so I'm sticking it out.
Since I've opted to stay, I'm looking at my role here differently - what can I learn from it that I can take with me for a fresh start? Good luck with your decision. Break out those spreadsheets, run your budget, and make sure you have a financial planner that completely understands XOM retirement.
Stay. You give up too much leaving.
Keep it professional, but spend your time being brutally honest to all those people who need to know that they are part of the problem. If you are NRE and low ranking, you now have the freedom to say a lot without major consequences. Just say it in a respectful peer-to-peer way.
If you are NRE then it's highly likely you should stay until at least 55. The difference in the pension benefit accrued for between 52-54 versus 55 is very large for most people.
Take the pension lump sum and invest it. You won’t be out any money.
I know a guy that left at 52. The guy left on principle because the kept ranking a young id--t on campus higher than him even though the 52 year old was doing all the work in a hardship country and the young ignorant sh**head was only presenting weekly reports to campus management about the accomplishments of the 52 yo. Several years later that 52 yo came back to EM as a contractor. Grass was not greener out there and he regretted leaving.
The only good answer is “do the analysis” - numbers, intangibles, prospects.
Stay!
NRE = 3 yrs to go - gotta stick it out…offers will be there in 3 years
Depends on position, salary, last relative ranking, etc.
don’t trade the eel being of your physical and mental health for a potentially empty promise.
If you are miserable and dread going to
work everyday, go. Don’t stay. If you are happy to go to work and only have 1-2 years left, consider staying but, do not place any trust in your management or the company. The company does not care about you or any employee.
If you don't have a good reason to leave, then I suggest you stay. For me, I left because XOM didn't help me grow. They make me very inefficient at my job
All O&G companies are facing similar issue. I wouldn't risk trading one posion for another. Especially since you have some tenure at XOM. Always look whats best for yourself and your family.