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Give up full time job for two part time jobs - would I be mad??(4 Posts)
Sorry so, so long, but reallu hoping to get some clarity from you wise Mumnetters and a solution to my dilemma.
I returned to my full time job at the beginning of June after 9 months mat leave. DS is 13 months old and is looked after by my Mum. It is a great, flexible arrangement. She took a career break from work and I can afford to pay her rather than a childminder.
I work full time partly because DH has his own business and earns a lot less (but without the flexibility that he has in his working hours, allowing him to do the drop off and pick up, we couldn't do it) and partly because I enjoyed my job and always wanted to return to work and "just see how it goes".
My job was always demanding but since I have been back it has been horrendous. I work in finance and this is always the busiest time of the year, but I often work twelve hour days and am hardly seeing DS. I dont need to work part time, I just want to get out of the office at a reasonable time. I have raised all my issues with my boss, he has set up meetings with HR etc etc and on the face of it he is doing what he can to try and find a solution, but deep down I have admitted to myself that a job at this level (I'm a finance director) cannot be done with the sort of work life balance that I want.
I've got bills to pay so I have to accept the pain, short term, with an eye to the future. I've accepted that, with the level I work at and the 'all hours' culture in my business, I need to quit the job, but in the current climate, finding something else is going to be tough.
I've been keeping an eye out for public sector jobs that I would be qualified for, would give me a better work-life balance but, of course, they require me to take a big pay drop. Then yesterday I saw a fantastic job advertised at a similar salary that I think would be just right. But its only 2 days a week (its a much smaller organisation and only has two days worth work) and I couldnt afford the pro-rata pay cut. Then I had a flash of inspiration (always dangerous!). I know my current company would be keen to keep me, and, separately, I have already identified a role that we need in my team that could be done on a part time basis. If I was able to get this job (a BIG if!), do you think it could work if I stepped down into the less senior role in my current company for three days, regular hours, on as close to my pro-rata salary as I could negotiate, and then did this other role (which promises to be as flexible as is necessary) on the other two days?? My current company would win as they get to keep my experience and knowledge in the business, and I would win because I would have more regular hours. Or do you think two jobs would be more trouble than its worth!!
There are tax implications to having two jobs, even if they are part time. I was mega taxed when I did this on the second job. You'll need to check this out first.
You will normally pay full tax on your second job, I think you can get your tax code split over both jobs, but att he end of the year it will all even out and you will pay the right amount of tax. It will be simple if you have the tax code on the one job that if it is over your tax threshold anyway.
Re the tax, I have checked and there is actually a tax benefit because you only pay NI when you earn above the threshold for both part time positions. Its a lot more hassle to make sure your tax is right, but you wouldn't pay any more tax compared to someone earning the same in only one job
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