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Original poster

Would you take a 23k salary drop aged 31?

56 replies

30something2 · 27/06/2024 19:29

So without going into too much detail here… I currently work in one occupation, but what I really want to do is something completely different.

I have an interview for an entry level role but it would be going right back to the beginning and starting again. And that means taking a big salary drop. I don’t know if it’s worth it.

I feel really depressed tonight as I feel like my career is currently going nowhere and I don’t particularly enjoy it… but I don’t know if the grass will necessarily be greener the other side…

Any advice would be much appreciated!

OP posts:
rubytubeytubes · 27/06/2024 19:30

No I wouldn’t unless your earning potential could go up again quickly

emsyj37 · 27/06/2024 19:33

I took an even bigger pay cut at about that age. I had a high paying job that made me miserable. Im much happier now, 15 years on, and still don't earn as much as I used to (although still an OK salary and I'm not in London any more). I don't dread going to work or fantasise about having an accident so that I have to go to hospital instead of the office. I enjoy my job and work reasonable hours, which suits me just fine.

FeelingHotHotHotFeelingHotHotHot · 27/06/2024 19:34

Context is important. Are you dropping from £93K to £70K? - or 33K to £10K?

Interested in this thread?

Then you might like threads about this subject:

Jobs
DeliciousApples · 27/06/2024 19:35

How much are you on just now and where do you live (eg if you're on £50k in Birmingham I'd consider the drop as the cost of living is affordable there but if you're in London I wouldn't as I couldn't afford to live on twenty odd grand there..)

Original poster
30something2 · 27/06/2024 19:36

Going from 50 to 27k
live in London!

OP posts:
haveatye · 27/06/2024 19:36

Hmn, on the one hand you can't take money with you and we're only alive for a limited time so why not?

On the other hand, financial instability is miserable.

It would depend on how much of a drop in living standards it would mean - do you have savings, a partner with income, would you struggle to pay rent or mortgage etc?

I think living on not much is fine if you enjoy your job and have time to enjoy the simpler things in life.

JC03745 · 27/06/2024 19:37

It depends on your outgoings and quality of life. Also the percentage of your overall pay that equates to? I don't want to know that amount- just saying that if you went from £30,000- £7,000- you would really struggle. If you went from £123,000 to £100,000, maybe not such a sacrifice.

I had a promotion at 32 which was a good pay and the youngest in the company to reach that level and pay. I got burnt out and eventually went for a role £18,000 less. I've been there 3yrs and almost on the same pay as before, but I have FAR less stress and love the job.

Go for it- IF you can afford to do so.

Sorry- cross post. After I'd posted, you stated your pay drop.

QuotetheRaven · 27/06/2024 19:37

I dropped from 41k to 35k at 34yrs old to get chartered at a different firm, now on 105k plus bonuses etc at 40yrs old. all about context and potential. Is it one step back, two steps forward?

Peonies12 · 27/06/2024 19:37

Can you get by on the lower salary? And is there good earning potential in the new job? If yes to both I’d do it. You need to enjoy your work

MeinKraft · 27/06/2024 19:37

30something2 · 27/06/2024 19:36

Going from 50 to 27k
live in London!

Is that doable? Have you done the sums?

CuriousGeorge80 · 27/06/2024 19:37

I went 125 to 50 at 27. No regrets. But new job had good prospects and opportunities, which I think is really th key question.

IcouldbutIdontwantto · 27/06/2024 19:38

Can you afford it? My DH changed career and took a £50k paycut a few weeks after DD was born - but we did a lot of maths and as we hadn't overstretched ourselves on the mortgage, we could afford it. Less money, but he's SO much happier now, and his work is much more flexible, which means he's around more, which has helped my career. There's pluses and minuses, but there's more to life than money.

Christ0nABike · 27/06/2024 19:39

My husband took a similar salary drop when we had children, as he didn’t want to continue with the stressful, long hours he was doing. No regrets, and he’s never gone back to it. I later took a salary drop to spend more time at home so we never needed to pay for childcare.

Some things, like work/life balance and being calmer and happier in yourself and as a family, are worth more than money.

Original poster
30something2 · 27/06/2024 19:41

The problem isn’t my work/life balance. It’s more that I don’t enjoy what I do - but I think a lot of that is down to the organisation I work for. Arghh feel so down in the dumps. I am also single too.

OP posts:
ApocalypseNowt · 27/06/2024 19:41

I dropped £25k at a similar age (down to £19k Shock) - best thing I ever did.

I'm actually happy in my job now (have worked my way up midway between the two).

It's also really freeing to know that no job will ever have a hold on me that means I stay somewhere that makes me miserable. I work where I do because I want to.

I managed because I've never really been a victim of lifestyle creep. I'm very content with my little life & home!

BoudiccaOfSuburbia · 27/06/2024 19:47

The cut would be fine if you were going from £73k to £50k … any cut that leaves you enough to live on comfortably enough, makes you happier, and has its own prospects and progression: fine!

Is the new job in a sector you feel passionate about or drawn to?

It sounds as if you could look for a new job in your current field, keep you income but in a role or employer that makes you happier?

FeelingHotHotHotFeelingHotHotHot · 27/06/2024 19:50

30something2 · 27/06/2024 19:36

Going from 50 to 27k
live in London!

That's a lot! A BIG drop. Would have to be a very good job that I desired desperately, that had a lot of potential for future growth and massive advantages for me.

SofiaAmes · 27/06/2024 19:56

Maybe first try doing what you do at another organization.... I have done both switching careers in my early 30's and just moving from one company to another within the same career. Both have pro's and con's, but the latter is much less traumatic.

I was amazed by how much difference there was in my job enjoyment switching from one company to another. They were both small companies (less than 10 employees) with bosses (and fellow workers) that I adored, but the work culture at the first one just didn't agree with my personality. It wasn't toxic, it just was chaotic and poorly planned. The second company was very well time managed and non-chaotic. I was really unprepared for how much happier I was after the move even though I wasn't working less or doing a different type of work.

Tumbleweed101 · 27/06/2024 20:00

The biggest question is can you afford the drop against your outgoings. If not can you afford to drop anything?

A pay drop is only a bad thing if it leaves you unable to pay for your current expenditure. If it has future prospects and salary rises then it is worth it if you will enjoy it more.

Bollindger · 27/06/2024 20:15

Starting this month. Put the extra into a savings account . Do not touch it.
Make yourself do 3 months on the lower pay.
Then see how you feel.

Dontletme · 27/06/2024 20:19

It sounds a lot. Can you live on £27k?

Also as a single person it is hard to live in London especially if you want to buy your own place. I had to move out of London to another city when I got to that stage.

It depends on your living situation but I wouldn’t.

Username917778 · 27/06/2024 20:20

I dropped from £40k - £23k. I am much happier for it.

Xmasbaby11 · 27/06/2024 20:23

No, no I wouldn’t drop down to that wage, not as a single person in London.

Aquamarine1029 · 27/06/2024 20:23

Could you even afford to still live in London?

iammyself · 27/06/2024 20:28

Could you actually afford it? 27k doesn't go far in London.

If you can afford it and you feel this new career direction could be a fresh start to your life, then yes I'd consider it.

I am working full time but also training for a new profession which is vocational and what I have always wanted to do. When I qualify, it will mean a drop in salary (probs around 8-10k) but I am planning for it now and happy to take the cut because the new profession is what I have always wanted to do.