WWYD - more money vs more time

[aWorkOne]

I'm feeling very conflicted! I currently work in a role I enjoy. It is home based, term time only, and 4 days a week spread over 5. I can pick my 6 year old up most days and have no child care costs. We have a nice quality of life/ work life balance. I earn 22K, husband works traditional 9-5 hours (also from home) on 32K.

There is a job in a related field that I could probably get. I meet the (quite specialist) requirements and have years of experience. It is 35K, office based, and full time, year round. I feel obligated to go for it, but really don't want it!

Pros: more money. We are clearning CC debt, so it would speed that up. Octopus says Jan's bill will be 650 for fuel, can I afford not to earn more? Also it would allow my husband to maybe go down a day a week in future, which he would love, but he will never be term time only.

Cons: Less time. Worse work/ life balance. Holiday club fees and possibly after school club fees for my little one. Don't know if I would like the job. I really like my job now, and am good at it.

I also feel like I worked hard to reach the holy grail of part time, term time only work that is challenging, rewarding and not too badly paid. I am loathe to give it up, but money....

WWYD?

every is different but I would always choose less money, more time.

In my opinion if you can manage happily on less I think the work/life balance is far more important.

I used to work endless hours & felt stressed/tired & wasted money because it was there. I now make better choices about purchases to enable me to have more time with my DD & work PT.

It would be a no brainier for me, never underestimate your precious time. It’s sounds like you have a perfect life balance at the moment.

I opened this thread already thinking I would say "more money" but after reading your OP, maybe not.

Have you done the maths? The wage increase may well be utterly wiped out by childcare costs, leaving you busier and stressed for no reason.

What would spend on childcare - holiday and wrap around and commuting? It could eat fairly rapidly into the increase.

I changed roles last year and even though one of the roles I was offered was a big jump in salary by the time I factored in childcare, higher rate tax and loss of child benefit it wasn't as good as it first looked. I ended up taking a full time WFH role, on a slightly lower salary but the flexibility is worth it.

My thoughts too
do the maths before you decide

As others have said, work out realistically what you would take home after childcare etc. For me, I would stick with the holy grail you have.

When you say you are on 22k is that the actual amount you receive or your pro rata amount? Because if its your actual wage then if you went full time in that then that would be very close to the 35k this new job is offering anyway, so it's not really a pay rise just more hours (working on the basis you are currently doing 28hours spread over 5 days but only working 39 weeks a year).

I would work out the full costings to make an informed decision - so taking into account more tax, NI, pension, holiday and after school club, transport if new job isn't wfh - the salary calculator website is good for this. You may find out that the extra hours don't result in significantly more disposable income.

Would there be an in-between option - e.g any extra hours at your current job, or picking up a second job for just a few hours a week (e.g. clerk to school governor jobs pay well for just the odd meeting)?

Unless the money is significantly better there seem to be a lot of reasons to say no - or at least no for the minute while dc are still young enough to need afterschool and holiday care. The only possible reason for a yes would be when you mention your dh also liking to reduce hours at some point - have you discussed this? I can see why it might seem unfair if you can afford for one of you to work reduced hours for a fairly long time why it is automatically you that get to?

Definitely more time. How much of a pay increase would it actually be- given that you work part time and term time now?

I'd always take the more time option especially with young children, if it was doubling my salary with the same hours then of course but I don't think it's worth it if you enjoy your current job and have no worries over childcare.

I would say you have the holy grail and to stick with it, unless you are massively stressed financially. Could you every get promoted at your current company, to keep the same hours but gain more responsibility and increase your salary?

Stay where you are.

Thank you everyone! Funny how you can feel so validated by strangers agreeing with you 😂

@latetothefisting When you say you are on 22k is that the actual amount you receive or your pro rata amount? Because if its your actual wage then if you went full time in that then that would be very close to the 35k this new job is offering anyway, so it's not really a pay rise just more hours (working on the basis you are currently doing 28hours spread over 5 days but only working 39 weeks a year).

My actual yearly salary is 22K, so I think you are right. There is no chance of me working year round in my current job, I will always be term time, but I could possibly move from 30 hours currently to 37.5. So that would could maybe one day give me a rise without adding in the need for holiday club

Maybe. It's public sector and promotions seem few and far between. More likely to be given more resonsibility without the increase in pay in reality!

@latetothefisting you also make a good point about allowing DH to go down a day. I have worked this pattern for a long time (I have older children as well) and it's always suited me. But yes, DH would like to work less as well - we all would! Lots to consider.