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To give up this "easy" money?(206 Posts)
I currently work for a fairly small manufacturing business, when I joined the office was an absolute mess and the business on the brink of collapsing, so I was given a profit share in the business as an incentive to help turn it around, but I don't own shares or anything like that.
The business has really grown over the past ten years since I started, and I have ended up being paid really well these past couple of years for what I do (around £50k, the role would normally be about £20-25k if not for the profit share) and I think that would continue to be the case for the next few years as well.
The owner of the business is really lovely, but I don't actually like the job for the most part, I find it really stressful, my mental health has been quite bad for the past year and I think it is a big contributing factor. There's nowhere for me to grow within the company, and I feel like I'm just fed up.
I really want to completely retrain in something different, I have a career in mind but I would need to go back to Uni and do a full degree to even get started in it, which would take 3/4 years and the maximum salary I could ever realistically earn would be £40k. Probably this industry would be more demanding and have it's own stresses, but I think it would be more rewarding as well.
I'm 35, no kids, but DH isn't supportive. He can't believe I'm even considering it. He thinks I've dropped really lucky with my current job and I'd be crazy to give up the "easy" money. DH earns around £70k, we've made good financial decisions in the past and we only have a small mortgage and have an additional joint income of £1k per month on two rental properties we inherited. I don't expect him to support me through Uni, I would get a loan to cover my half of the bills and have a small amount of savings too.
I'm grateful for my current job, I really am, I feel guilty for thinking about giving it up but I hate the thought of still being here in five years time. It's like Groundhog Day.
I need some perspective please. What do you think, WIBU to change careers?
Life is too short, you already have two rental properties which is more financial security than most can hope to achieve in a life time! Unless you want children ASAP (or ever, at 35 you need to get on with it really if you do) I would absolutely go for the career change and enjoy the challenge!
Will the company sponsor you to study? Pay 50%, time off?
Can you not carry on working and study alongside it? It'll be hard work but allows you to keep earning.
Definitely retrain! You are financially stable with no children. I think you will feel massively unfulfilled if you stick with your current role.
@Cuntryhouse potentially, but it wouldn't make a difference to the job in the end, I would still be doing the same job as I am now.
@Burnt0utMum I don't think so, the course I want to do has a lot of placements required, it's basically a 40 hour a week course.
Happiness and fulfilment are more important
Would you be able to go part time and study alongside? Then once you're qualified look for a new job but with the security of your current job still. Don't underestimate the intense competition for jobs these days, especially if you're starting in a new career and with no experience
Is there any way to study and earn at the same time? For example, it’s possible to train to be a teacher on the job. Is your only option a 3-4 year full time degree?
Do you have any savings? I can understand your husband not liking the idea of needing a loan, and if the chosen career will be a 20% pay cut then I assume you've squirrelled away plenty of your current surplus earnings.
Happiness is important, but it doesn't sound like you really know whether the other role will make you happy. Most jobs have their stresses and frustrations. Is it possible to reduce your hours and traing part time? Or do some volunteering in the area to get a better idea of how it would be? Money isn't the most important thing, but struggling financially can make life really shitty.
Can you look for fulfilment elsewhere? Travel etc.
If you give up your job, do you lose your profit share?
Never mind stupid question sorry
Do it. I stuck with the safe option, now aged 54 and feeling it really is too late to change. My mental health isn't fabulous as I am so bored and under stretched in my current role. I should have taken redundancy 11 years ago but side stepped into another role because I was scared of the unknown. Really regret it now.
I'd talk to people within the industry you're looking at so get a better idea of the typical workload and stresses. Of you want to retrain though then I'd go for it. I'd love to but couldn't take the financial hit.
Oh god if it's teaching stick where you are and do some voluntary work in your free time to feel you're making a difference. Teaching is incredibly stressful (hopefully it's not that).
I dont think 50k to 40k is a massive drop compared to the massive difference it can make to your life leaving a job you hate and doing one you love. It's not going to put you in the shit financially. It doesn't affect him all that much other than for the years you are studying. I say go for it. It's not like it's such a shit salary that you'll never be able to go on holiday again unless he pays for you etc. Is it just the money putting him off or is it something else like shift work that means he would see you less?
I say do it! You are financially secure, you can afford to. Make sure you have researched the new career well, as it would be a waste if you started studying and then found out it wasn't for you. We spend so much time at work, that time is so much better spent when you are doing something you are passionate about!
Also, do not let your husband hold you back from where you want to be in life.
Yes, the lots of placements makes me think of teaching or nursing/midwifery, both of which are industries where the existing staff are clamouring to get out.
They aren't grass is greener jobs.
If you cannot give yourself the luxury of studying and working in what you like when you are in such a comfortable financial position, nobody can ever.
What is the point of money, once your basic needs are met?
Do you want to retrain as a teacher?
Yes, it's teaching I want to retrain in 🙈 I thought I was being very mysterious, obviously not!
About 60% of my friends and family all work in schools, and I do get very mixed reviews about it from them. Some would love to get out, some love their jobs. I have worked with children before in a different setting, and I have done quite a bit of volunteering in schools as well, but that was ten years ago as I was going to go to uni then but got this job instead.
So I do feel I am fairly aware of some of the realities of it, I might still be being naive though. Any of you who might be teachers (especially primary), I'd be really interested to hear your thoughts
Don't do it, it would be a terrible plan!