I’m 8 years in and can barely stand another day. I used to feel fortunate to have my job and enjoyed the work..... but now I dread going to work, management is awful, I see no growth opportunities and the atmosphere is toxic.
I’m in Canada and need some advice, it is worth it to stick in another 2 years to reach the 10 year mark for pension reasons ?
Everyday is like dagger in my eyes so I find the notion of 2 more years .... depressing.
Leave as soon as you see an opportunity. I found my dream gig few years ago and left. I didn’t care about compensation etc. and can’t be happier that I left those golden handcuffs and all the stupidity that surrounded us everyday. Most were busy lining their pockets and using silly perks with complete disregard to the bottom line real value creation.
If anything, holding out 2 years (if you can) might also be good so that you aren’t competing in the job market with the massive exodus of O&G people happening right now in Canada.
In the US, pension vesting occurs earlier, and when I left early, I rolled over a significant lump sum. 2 years to get the lump sum? You'll probably see $80-120k. Your really need someone who left early in Canada to chime in though.
I would look around for a new gig bud. Even if you stay for the 2 years - just interviewing and working on your resume, skills and testing the market will get you ready for a swift and easy departure in 2 years. If you find your dream gig during that process then leave early -- move on and just be happy and fulfilled at work. The money will follow.
As far as I’m concerned all of you snow Mexicans can hit the road. Arrogant bunch of as-----s.
@OP If you’re going to resign, I suggest that you switch industries.
Every O&G company is running the same program as EM (layoffs, outsourcing, high attrition, etc.). The only difference is that at another O&G company you might make a little less money. This is the depressing reality of working in a declining industry.
PIP will come to get us soon enough
I was at the end of my rope 2 years of reaching that magic # and let me tell you it was a tough decision on whether or not to leave. When I landed in the hospital due to stress, the answer was clear! It’s NOT about the $$, it’s about your mental and physical well being. No one at EM gives a cr-p about you! I recall someone taking their own life and the Supervisor bringing us together to break the news. I can honestly say it affected so many and the Supervisor then slapped their hands together and told everyone to go back to work. How do turn the switch back when you get that type of news. It still haunts me today and I’m thankful I left that awful place!!
Life is too short to be miserable
As you are deciding, I would build up your nest egg. Always good to have that emergency fund nice and healthy.
I am retired now. Every person I know that made it through a 35 to 40 year career at one time or another considered resigning. By all means, look around and see if you can find a better job. You need to understand your market value. Of course, many quit and did well (most who quit did well). But those who stayed also did well when they were in jobs or groups doing work that they loved. For those that are not in those kinds of jobs and see no hope of getting to a job you love...I would resign. But I always had hope and I always managed to get to jobs I loved.
I'm also Imperial, 15 YOE and don't see much hope for the company. There's no low-carbon solutions business or plastic recycling like in EM. I think what really did it for me was Brad Corsen saying our strategy was just to "ride out the storm" for the next 10-15 yrs on the Q2 investor call.
The part I'm struggling with looking for jobs is the lack of availability in my field in Canada, and the job prospects are very low paying in comparison to ESSO. I've interviewed with a couple renewable companies who say there's a pile of folks from O&G in AB trying to make the transition, and they're hesitant to hire because if oil ever rebounds everyone will quit and move back due to the higher salaries. However I'm thinking that being red-circled at my current salary and sticking around long-term may be comparable to taking a loss initially moving to another industry but having more growth potential.
So my plan is to make my conditions narrow in terms of work location, work type and salary- if a great offer comes in that meets those boundary conditions I'm outta here. If not, I'll stick it out with ESSO for a while and see if things improve with morale when the economy rebounds.
In terms of your boss/management, my perspective is I've seen all different bosses in IOL, some good, some bad. Just wait a year and they'll change roles. You'll get good and bad management anywhere you go, so don't quit for that reason alone.
We here at EM layoff are professional life/financial advisors. Be mindful, we do have the occasional powerwalking and yammer autis** advisors. Serious wrong place. You know this place has a 1 street opinion
Decide if it is worth it. Yeah money is good when you retire, but you want to have your fun and experiences when you are younger. If there is another opportunity, start whenever you can. People worry about the future, but if you waste your current self. There won't be much of a future and you look back on the time you wasted
If you see value in staying and your position and you can land another job easily. Stay for another 2 years. If you can't see yourself being there 2 years. You pretty much answer yourself