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.

Many do - more people than you realise. As PP said, you don't have to burn your bridges. However, you may find that a lower=paid more creative job is actually more fun in the end.

I could have written this post OP with a few adjustments....

I've just walked away from my MA position with a large multi-national. I finished at the end of maternity as I know I want another baby and the commute is too much.
I finished the exams but am yet to apply for letters. Seems a bit pointless if i'm not going back but also seems silly not to.

I can't make my mind up for sure either.

You do get used to the money don't you? Seems so easy to just go back to it, but money isn't everything.
I don't know what else to do, and to start again at the bottom of the ladder is not very appealing....

I don't think you have to walk away, I think you should consider reorganising things. For example

• you both work pt, have lower childcare costs

• you negotiate compressed hours, eg 35/37.5 hours in four days so you get a day off but are paid ft

• you consider contracting, higher rates, no security but you can take time off when you need to, can haggle over hours etc

• you change your skill set to achieve the above eg a friend of mine was an acct, learned JDE at a time when JDE sysems accountants were in demand and was getting >£700 a day (this was 10 yrs ago too!)

I think it's hard when they're little but I think not working at all is rarely the answer. As someone said " the best labour saving device is money"

bean - have you thought about moving into an accountancy role in the NHS or healthcare industry to give you a bit more exposure to what that world is like before you think about retraining? (I appreciate that being a nurse/midwife and being an NHS accountant are not in any way the same, but they are closer than being a non-healthcare accountant). Alternatively volunteering at your local hospital? Or sitting on the board? It might give you a way to see if you can combine your experience and wishes.

I think if possible keep your options open in case circumstances change. But definitely don't put yourself through a job in a career you don't want in order to earn money you don't need.

But hang on you already have a pt job don't you?
So what are you asking? Should you not go back ft?

I'm an accountant and did work in the Finance dept but transfered to another part of the organisation as a Business Manager helping a director run a large department with v big budget. I love it, I get to do the Finance stuff without month ends!

It would be £50K full time but now work part time so it's pro rata. 7.30-2 4 days so I can pick up from school every day and have a day off. It's fab .

Seven years ago, I walked away from well-paid career (well in excess of 50K). I was raising my children and a nursery assistant part-time school hours. Then, a few months ago, I went back to my old career. DH had been made redundant and wasn't finding anything and I was headhunted. I make less than I did before, but it is still what most people would consider a very good living. We were getting desperate for the money. It wasn't accountancy, but IT. FWIW, it's not been bad and I'm acually enjoying having that grown up bit of my identity back.

TBH i would think very carefully about giving up such a career. I hated doing the really really long hours but not the actual work IYSIM? Don't confuse the two.

I am an accountant (specialising in M&A) and was made redundant last year. I am now doing sub-contract work part time. IME the part time roles are NEVER advertised - mine came about through a contact of a contact.

Accounting is a job which you can do pretty flexibly but you have to make the first move. You need to find all the contacts you have and ask ALL of them if they know of any work. On top of this you can send a letter to all local companies with turnover between £5 million and £25 million saying what you do and ask if they need any accounting help. It will be hard work, but could easily be a company who needs a few hours but don't want to pay accountancy firm rates.

Just this week one of the companies i have been working with have asked me if i know anyone who can do c.3 days a week management accounting. Another needed some help on a short term basis with Sage inputting.

I walked away from a well paid career to bumble along in a freelancey kind of way, and it was the best thing I ever did. Nothing on earth would have convinced me that a £50k salary was worth putting the children in childcare for.

Agree too with the freelance accountant option - i am a freelance designer and stay home with my kids and it is great - your freelance work will pay well too and mote demand than mine

Even if you don't enjoy it loads remember it will give you the flexibility to enjoy your family and it is a great skill you have!

How do you find freelance work?

I am a technologist and every agency that calls me or every thing I see advertised asks for full time hours.

I walked away from a high paying accounting job too, and I now freelance, meaning I can SAH with my children and work around them.

I have a small portfolio of clients, including clients who are freelance themselves in other areas, and want someone to do their sums for them.

It means I'm earning some money of my own, and keeping my finger in the pie (so to speak), but first and foremost I can do what I really want and that's SAH with my children.

I think that even when the youngest of my brood starts school, I will stick with working for myself on a freelance/consultancy basis.

These jobs don't get as far as the agencies IME. Just let as many people as you know know that you are looking for work. My current work came through an ex-work colleague who i have not worked with in 10 years and only see a few times a year now. My other offer of work came from one of the playgroup mum's husband. I had no idea what he did until i was chatting about my redundancy with her. She said he sometimes needed short notice help, so i asked if i could send him my CV to take a look at.

The more labour intensive route is to send out 'flyer' type letters to potential employers locally. You may well be 'lucky' in that some of them know they need a bit of extra help but not got round to recruiting anyone

Hi Smellyfeet

I think it depends in what you do? I work on projects from home so my kind of work is probably very different to yours. I don't do loads but I take on projects from a few agencies (design a leaflet, brochure etc) and can do them in the evenings mostly.

I think it depends on the job? Direct contact with places that demand your type of work might give you better hours?

Walk. I did. I'm much happier now.

I think I'm just about to walk away from a £120k a year career! Sometimes it's just not worth it.

Fuck me...that's 10 grand a month!!!!

I had a career that I fought battled and worked all hours to get, I was earning about 70k pa and I loved every minute of it, when I left to go on maternity I was exactly where I wanted to be and left fulling intending to go back, had nursery sorted, everything and then....

Who knew that I couldn't leave dc. My family and friends nearly killed themselves laughing because it was a such a surprise to them that I was doing this. But, few months in, it is right for me, I am still finding my feet now that i know I am not going back for a few years I just need to get an agenda together to keep myself sane but I wake up every morning and feel absolutely shattered but incredibly relieved that I a lucky to get to spend the whole day with my daughter.

Few things that I think help and are important..

• money is not so tight that we have to worry about it, although few lifestyle changes have been required like one less holiday
• husband is very supportive
• i don't spend a massive amount but dh and i make sure we treat ourselves and get out at least a couple of times a month
• i've tried really hard to make local friends - they keep me sane when I can't take anymore cbeebies.

Overall - I am happier, I do plan to pick up the career again but suddenly, bringing up dd seems more important. I actually suspect that once I go back having done having children my career will develop very quickly again without the hindrance of people thinking I'm about to go off and have a baby!

It's tough to decide but you'll be surprised at the reaction of those around you - many will envy your decision.

If you're based in or around London try Women Like Us.

I walked away from a £60k accounting role to a part-time £35k pro-rata one.

If you can face a reduction in salary for the sake of keeping your hand in with a flexible part-time role, it's worth a try...

It sounds like your finances are well organised without you going back to work fulltime and you even have something held back for emergencies.

When people lie on their deathbeds, they don't wish they had worked more or left more money in the inheritance. They all wish they would have spent more time with their loved ones when they had the chance.

Bin the career and go enjoy the things that really matter to you.

I walked away..and am now about to embark on childminding so less lucrative but hopefull more rewarding and am able to be with my DC. I would do it again in a heartbeat!!

Gmajor7, it's about £6k a month after tax.
I didn't used to earn this much, just doing what I used to do, but contracting on a very nice daily rate.
only been doing it for a couple of months, but it's not the job for me, so I want to find something else.
I can't bear the thought of my child being in nursery, if I am doing something that I hate. I was supposed to be coming back to work to pick up my own life, find a few new friends, get a bit of a social life.

That's what I meant about accounting, or similar. Something that would pay well, but just for a couple of months a year.

It's strange isn't it, years ago, women used to have to fight to go back to work and now here many of us are asking permission and acceptance that we want to stay at home!

I wonder what our children will do!