To give up a £55k salary? 1st time poster, long time lurker.

[MrsShelby]

I would like to return to full time studies in September to finish the rest of my professional exams. My progression and pay have reached a ceiling at the £50-55k mark and it is very frustrating. It will take 7 months to finish the course and then I will then be able to apply for more senior position and get paid around £65k.

In the past I have tried studying part time and working full time and it did not go well despite being good at exams. I know most people complete the exams while working full time but it is something I haven't been able to manage. The juggling was too exhausting.

DH would prefer for me to carry on working but has said he will support me whatever I decide. We have some debt( from essential house repairs not redecoration) he wants us to repay as soon as possible but I would prefer for the repayment to wait. During the full time study, DH will cover all the bills while I use my savings for course fees and expenses. I have looked into part time work but the pay is awful and the the roles are permanent. So not keen on getting hired and then telling the company adios in 7/8 months time.

Also we want to start trying for a baby ( I am mid thirties) so a little concerned that I could get pregnant during my the time studying and then won't be able to get a job when I have finished because of my bump. Also worried that the longer I leave the exams, the lower the odds of ever finishing which would be very depressing.

So should I return to full time study or AIBU? Thank you.

OK, so maternity pay and job protection isn't an issue anyway.

Zuccarelli I do interim work so won't get maternity pay from the company. I have considered using the maternity leave period to study however was concerned was concerned that juggling a new baby and studying would be very difficult.

kaitlinktm Because I would be looking at interim roles, I would take a short term contract and not delay ttc.

Msqueen33 This would be ideal but I have struggled in the past to manage the juggling of work and study.

Blu It would be the stepping stone to much higher pay in the future.

How big is the debt if you can afford to lose your entire income of £3k+ a month and still pay all of your bills, but you don't want to just pay it off? I definitely wouldn't want to quit my job and start a family with a significant debt hanging over me.

You've said that most people do this qualification part time whilst working. I'd be concerned that you would struggle to find a senior level job with a career gap if that's not the expected path. Imo it raises alarm bells of lack of time management and inability to cope with a large workload. That's not necessarily the case, but just taking am unusual path may be enough for an employer to set your cv aside.

Think about whether you really want to start a higher level role when you're starting a family. I was very ambitious until I had DD, but now I just want to get my work done and get home to be with my family. I have a good job and right now that's enough.

Something that you may not have considered is that a higher paid job after you qualify will also be more stressful and have (unpaid?) overtime included as part of the role. It is quite likely that you will want an easier job while pregnant and after having a baby because you will have different priorities at that point.

If I were you I would grab the chance to finish your studies because you are almost there and you would regret it if you never finished which might well be the case if you postponed.
Decide on the best work contract or none if that is manageable and put your head down and get it over with. (I have several tertiary qualifications so am aware of what is involved). Then asap after exams TTC.
You might be able to juggle study and a new baby but none of us knows how pregnancy and new motherhood will affect us. If there were complications, baby was very prem etc etc then that would throw a real spanner in the works.
Good luck, I admire your determination and ambition.

Mrscog If I carry on working while studying, I will definitely get a cleaner etc

SpinALittleFaster There is about £10K debt left to repay.

liletsthepink I understand your point about the stress which is a concern. Re overtime - because it is interim work, overtime is paid for.

Benedikte2 This is my number one fear. That I end up never finishing it and feeling like a failure. I know I earn a decent amount now but I feel so frustrated because I know I am capable of more and want the pay+ work to reflect that.

Thank you for posting this op, I'm in a very similar situation, in your shoes I'd:
1.Pay off debt (how quickly can that be done? With real focus?)

1. Do the qualification whilst ttc, because who knows how long that will take? Could be one month in which case you'll finish the qualification before the baby arrives, could be 6 months in which a case you can squeeze in some more contracting before the baby arrives. There is a risk of a tricky pregnancy, but in that case with a letter from your doctor you should be able to postpone studies.

You will get there, and you will get the pay you deserve, I feel exactly the same, and I have concluded that at this point in my life I need to be a little patient!

If you can afford to live without your salary, then you can afford to work an extra three months and pay the whole of your salary into your debt to pay it off.

That said, I would probably have the family first and study later, for reasons given above.

That's a good idea actually Wildfire.

Spend 3 months pretending that you have quit your job and have no income.
You can pay off your debt AND you can see how realistic it is for you to live without that income. If it turns out that you did your calculations wrong, you haven't actually given up work and nothing terrible will happen.

What is the interest on the debt and what is the interest on your savings? Unless your savings earn more in interest than the APR on your debt then that discrepancy is a money hole.

Theorchard It can be paid off in about 4/5 months.

WiIdfire & Trills I have considered working another 6 months and then starting the course in March

InsufficientlyCaffeinated We would move the debt to an interest free credit card so the interest would not accumulate.

I have been sitting accountancy exams, not far to go now! I work full time, as does DP and we have 2 DCs. You just make it work. I can't understand being unable to juggle it - it's only short term. What else takes up your time?!

I'd work 3-6 months but effectively take no salary and pay off the debt. Life can change suddenly and whilst it might bot seem huge to you now, it could become so if DH got made redundant etcm. Clear it whilst you can. It will also roadteat how you feel about having no indelendant money for a while. If DH can afford to support you, no reasom he shouldn't

Then start the course and TTC. You'll be finished before you give birth even if you get pregnant on the first try.

If you're not pregnant when it finishes you can look for work whilst TTC.

everyone saying you SHOULD be abke to juggle it all, ignore. You know you can't so don't imo and trying to concieve on top would probably be too much pressure

I do agree that it might be worth a final good look at how you might re-jig things to be able to study and work. Especially without DC it is something that a lot of people do, although it's hard going. If there are specific reasons why it's just not possible then ignore me!

It depends on how soon you want to have a baby. If very soon, I would put the professional development on hold. Start TTC now and between now and when mat leave starts pay off the debt completely and chuck everything possible into savings. Have your baby and enjoy paid mat leave. Then either return to your role or do the course full time.

If you're happy to put off having a baby for a while, and it really isn't possible to work and study at the same time, then quit your job, do the program and start TTC as soon as you qualify for mat leave at a new job. It puts you in a precarious position financially, though -- £55k in the hand is worth more than £65k in the bush. You'll have lost your savings to pay for fees plus your earnings during that time, so going on this course will cost you at least a full year's salary, which will take you six years to recoup even if you get a job right away (which isn't a guarantee). Plus you'll have to put off TTC for a long time.

It's a tough decision, but personally in this case I would keep the job.

I think most of those saying study/work/ttc all at the same time might perhaps be coming at it from the PoV of being in full time roles, not contracting. My experience of ft compared to contracting is you build up more flexibility (get brownie points for consistently good performance which allows give and take) ft, and also have the option of study leave, course funding etc. Which makes exams etc a lot easier than when contracting, where you often do overtime and need to be performing at the top of your game constantly in order to secure the next contract. It is harder to say no.

Presumably you won't get paid mat leave as a contractor?

Start the course in March,
pay off debts and save in the meantime,
get ready to ttc, get you and dh on a healthy eating plan, taking all the preconception vitamins etc, start tracking your cycle, so when you do ttc you have all the info and are in the best possible shape for it. Plus you feel like you are doing something positive towards it while waiting. But I wouldn't wait longer than 6months to ttc best to get cracking asap really.

What kind of professional exams are they? Actuarial?

I'd love to be stuck on 50-55k!

Have sent you a PM

Winterisherejon It is the commuting (2.5 hrs) and the stress of the role. I hate to sound dramatic but the thought of classes and 10 hours of studying just feels overwhelming.

hazeimcgee this is beginning to look like the most practical option. To remain working for the next six months, pay off the debt and then look at Ft study in March.

Wildcoffeeandbeans We are keen to start the as soon as possible. You have made a very valid point about the loss in income and the savings that will go towards the fees.

Theochard There has been very little flexibility because it is contracting. It is full on and they want to see you at the office. We are tracking and taking vitamins. My age means we are not keen to delay much longer.

Trixymalixy It is accounting. I feel awful that I am struggling to combine working Ft with studying on the side when most people seem to manage it.

Summertimeover Thank you.

Don't feel bad for not being able to do everything. Of those who are saying well i did it all so wjy can't you, you don'tcknow what other concessions they have in tbeor life. I used to work full time with an hr commute, plus 3 evenings then volunteer every weekend. I copee but i wouldn't recommend it and i suffered for it when i stopped - you don't need tgat kind of stress and exhaustion going into pregnancy and motherhood.

One minor point - if work is already full on and commute os hard etc. have you thought practically about what you are going to do once naby is here? How long you're having off, childcare etc? All those may impact on what you need to do this side work and money wise