Would you walk away from £50k career?

[beancounternomore]

I sort of fell into accountancy as I didn?t know what else to do after my a-levels but I never enjoyed it and have always wished that I had gone into something else instead. The trouble is the more I progressed (and earned), the harder it seems to walk away from such a stable, secure profession - everyone told me I would be mad to give it up, especially after working so hard to qualify (I qualified by home study during evenings and weekends for the best part of 5 years).

Anyway I went on maternity when I had DS nearly two years ago and since then have been working part time at a much lower level so that I can spend as much time with him as possible. It's not brilliant money, but it is very flexible and fits in great with and allows me more time with DS.

Until I had DS two years ago, I worked as a management accountant and earned about £50k a year. DP at the time earned around £15k but without me knowing ran up about £15k of debts (on nothing in particular - going out/bets etc) so was able to contribute very little towards bills etc . DP now earns about £25k (and we have sorted most the debts now) and I probably earn about £10k at the moment so obviously things are a lot tighter than they were, but we seem to be managing okay and are what I would describe as comfortable. We are not panicking about paying the bills and have enough to do the things we want to within reason. Luckily I had quite a lot of equity in the house so we have a relatively small mortgage (£800 pm) and neither of us are really fussed about holidays abroad or nice cars etc. We are both quite happy with a night down the pub/nice meal with friends and the odd weekend away. We are also very lucky that I did very nicely out of some share options in my last job so have a nice sum tucked away for emergencies which really takes the pressure off.

I really don?t want to go back to accountancy. Apart from the fact that I don?t enjoy it, there are very few part time positions around so it would probably mean going back full time which I couldn?t bear. Aside from which we are hoping to have another baby in the this year (going through IVF at the moment). Although we obviously would be better off financially, by the time you take out the nursery fees (especially/hopefully for two), the difference isn?t a big as it seems. And I keep wondering what exactly we would do with the extra money - don't get me wrong, we'd find a way to spend it no problem but I don?t think it would change our quality of life.

My question is, what do you all think? Most people (aside from my sister who is very supportive and totally gets where I am coming from) think I am mad to walk away from such a good career. I know I would never regret not going back to accountancy but I also realise by doing this I will probably never earn that sort of money again. I'm fine with that, but some posts on here make me feel like I am copping out?.

I realise I am very lucky to have some choice in the matter and that a lot of people have to return to there previous job to make ends meet.

[MarionCole]

When DS was born I walked away from a £100k job in accountancy. Currently earn £30k and about to walk away from that too. I'm going to try and do some freelance work, which may mean I earn nothing! We are similar to you in that DH earns enough to cover the essentials, me not working will mean that we don't have the luxuries like nice holidays. There's more to life than accountancy!

[macdoodle]

Well luckily I love my well paid career and cant magine doing anything else. I think you should think very carefully about it especially in this economic climate.

[FabbyChic]

I was in accountancy, I left a job that was local paid bonuses and 40k a year to move to somewhere where I have not worked since.

It's been six years.

Can you get into something else? I wanted out of the office and to take up Counselling but it is not that easy.

Along the way have got depression and am kinda stuck.

I'm going to have to return to work that I don't really want to do because it is all I know.

If you have the chance to do something else then take it.

You could always work from home self-employed doing accounts in your own time at your own speed.

[kittybuttoon]

Sounds like you know the answer already, OP -your family and your happiness are worth millions to you.

Walk away and never look back!

[frgr]

What does your DH think about all of this? If he's managed to get a wage increase of 10k that certainly helps out the situation, but I think it would be helpful for us to know what he things about the balance of home vs. outside work in the relationship... these things can't be considered in isolation...

Also you say that you're comfortable, etc - have you factored in things like pension provision for yourself, are your NI contributions up to date, would you be able to get money to pay bills if your DH gets hit by a bus and breaks a leg and can't work for 6 months? It sounds silly but this is exactly what happened to my mum, ended it's ended up where they're financially fecked because of it, when she was thrown back into the workforce due to illness (having packed in a decent job before kids) and she's now on shitty money which doesn't reflect how well she was doing before she stopped to look after us

[tribpot]

It doesn't seem like you have a very compelling reason to go back, although I'm surprised to find that part-time work is so hard to come by. Having said that, I don't exactly know what management accountancy is?

If you are comfortable and you and your DH understand how to avoid a repeat of the situation where he ran up debt, there seems little need right now to consider going back. But, having worked hard on gaining those skills, is there another way you could keep your hand in or utilise the skills differently?

[onceamai]

I gave up a very successful career more than 16 years ago and never looked back and never regretted it, but I have a very sensible and hard working DH and had made enough to provide significant equity for our home and rainy day money for my SAHM years. Could you do it part-time to keep your options open for the time being or move into a field that really excites you but still do be the accountant.

[hoovercraft]

I wish I had the guts to do this but we need my income

[hambo]

I left an IT job earning lots, to be a SAHM....I now run a tiny company from home in my spare time.....You may leave accountancy but after your family has grown, you will have the opportunity to go back, retrain or start your own company. When one door closes, dozens open - just don't spend too long looking at the closed door!

Best of luck.

[leafinthewind]

I walked away from that kind of money and haven't looked back. But (and it is a BIG but) DH had the same kind of earning power. He occasionally comes over all big-man-must-provide-for-family but it's a small price to pay for a more flexible, fulfilling life.

[liquiditytrap]

I think you have to think of the future. Your DP doesn't earn loads. Yes you are comfortable now with a two year old, but what about two children, up until the age of 18. That's school trips, activities, and university is going to be expensive by the time he's old enough to go. Also, teenagers are more concerned about getting to go snowboarding and luxuries or whatever than you may be. It's crap having to tell your kids that you can't afford this and that, things their friends take for granted.

I would think long-term if I were you. But maybe you can go back full time when they are at school and start building up funds again.

[MaeMobley]

I am a part time acountant, doing mostly mgt accs. I actually think accountancy does lend itself to working part time.

I did give up a city career for a job that still pays relatively well (£18k pa for a 10 hour week).

With your DP being the lower earner, I would try and keep my hand in if I were you.

My DHgot made redundant between th births of our 2DC and I was glad I had a proper paying job.

[AliceWorld]

If you can afford to, walk away. After a certain point if you earn more money, you buy more crap. Why do something you don't want to in order to buy more crap? That's what I get from reading your post

I'm in a similar-ish position. Walked away from a stable job to follow my dreams. Have far less money and with the way things are that sometimes worries me, but when I think what I'd do with more money, it would be buy more crap.

[Tortington]

i didn't earn anywhere near that but was stuck in a job i detested for 9 years becuase the money was good and the HR package and pension etc was good.

i think if you have the financial means to do so go for your heart - life is too short for this shit

[porcamiseria]

agree with those that suggest you work as a freelance accountant for smallers firms, my mate does this. then you can have time with babys, and earn money

[starkadder]

Of course you shouldn't go back if it makes you unhappy and if you can manage without going back. Money is important up to a limit - if you can pay your bills, save a bit for when you're old, have the odd meal out then really, I think that's enough. Much better to be a bit worse off financially than be slaving away wasting your life at a job you can't stand AND than means you see less of your children.

I work 30 hrs a week but I quite like my job.

If I were you, I'd decide once and for all NOT to go back to accountancy but I'd try and remember the other things I was interested in - don't sacrifice ALL career for your children and family, but take this time, while your children are young, to think about what you would like to do and if you can afford to re-train.

[redrollers]

i think accountancy is one of those things you could always go back to.consultanting or freelance. you're not going to lose the skills are you?

[Plumm]

Is there something else you want to do?

[beancounternomore]

Thank you all so much for your thoughts/support - I thought you'd all be calling me a lazy idiot!

It's very interesting to hear of other people who have made similar decisons.

With regard to DP, he doesn't mind what I do. I supported him for a long time because of his debts and so he feels like it is his turn now. I think part of him would quite like me to go back to work as it would obviously mean more disposable income for him, but on the other hand he doesn't want DS to go to full time nursery and he is very happy that he has to help out less round the house!

His job is quite secure but is unlikely to go up another £10k - probably £5k at most.

Sorry to hear what happened to your mum frgr. I will still be working 3 (short) days a will be paying NI. It is a very good point. Luckily because of the share options we have quite a bit (enough to keep us going for a year or so) if the worse came to worse.

Interesting to hear what some of you said about part time work - there seems to be next to nothing whenever I look.

Liquiditytrap - a good point and my main concern. I dont want my DS to miss out on anything. On the otherhand I am very stressy at work, and he may well benefit in other ways from a less stressed, happier relaxed mum. As for university etc, we are trying to put away a regular amount each month to help with these sort of costs.

AliceWorld - you understand what I'm saying completely. We must have been better off before, but our quality of life really wasn't really any different than it is now. God knows what we used to do with the extra money!

I keep trying to imagine what I would regret more when I look back - walking away from the money, or being stressed and miserable because I am in a job and means I spend less time with my darling DS. My gut feel is it is definately the latter, although I take on board all the points about the reasons to go back.

Ideally, finances permitting, I would like to retrain to be a nurse or midwife.

[MisSalLaneous]

Walk away if you want, but don't bargain on self-employed. Most companies would not use self employed accountants in my experience (as an accountant), and the small ones that might, will pay very little money, which might mean it's not financially viable once childcare is taken into account.

If I were you, I would consider part-time accountancy roles, but not resign from my current job until I've been offered another. Contracts signed. The market is really not great at the moment, for part-time even less so.

[liquiditytrap]

What about moving industries? Assume you are in-house somewhere if you are a mgt accountant. What about going public to private or private to public, or to a creative industry or something?

I don't think you have to go back now, but accountancy is a fab skill to just give up. Everyone needs accountants!

[rockinhippy]

You have to do what is best for YOU, we are all different, I DID walk away from a 50k+ career that I loved (as a Designer) I didn't think I wanted to do it, but ill health & problems with the company I worked for meant I walked out & took "time out" to recover a bit after a very tough year, that had really taken it out of me.....it was never meant to be forever, just a few months to re-coup & I'd take one of the other posts I was being offered....

That was 7 years ago, I never did go back, I never recovered enough, but I am actually glad my hand was forced, really glad to be out of the rat race & much happier all round because of it :)

[CluckyKate]

Most people might think you are mad to walk away from your career, however, none of them can know your thoughts, aspirations, feelings etc. and are therefore in no position to judge you or the decisions you make.

I'm CIMA qualified, have recently started mat leave (due next week) and have just been made redundant from a large multi-national corporation so I have a similar dilemma.

On the plus side all 3 accounting bodies (not sure which one you're a member of) allow you to take a career break. If you're not 100% sure about leaving a finance career just yet then make sure you keep your qualification up-to-date - attend local events, read the professional publications etc.

OTOH if your mind is made up then trust your instincts - you are an intelligent woman, perfectly capable of making your own decisions and have the potential and talent to achieve whatever you want.

Good luck in whatever you decide to do