Taking a pay cut to move somewhere with a higher cost of living

[Frudget]

I live in a nice area at the moment and have a good, secure, job. Progression is pretty guaranteed if you want it and I could easily be on £60k-90k in a few years (although probably in a job that's a bit boring and often high pressure). The area is a desirable town and is fairly expensive from a housing point of view.

I have an opportunity to move to the south east, near the seaside, to a job which would be interesting and challenging but doesn't have the same earning potential in the medium term. In a few years I'd be on £40k but in 15 or so years I could get a day rate of £500+. There is absolutely no flexible working with this job and of course housing is even more expensive than it is in my current town.

I'd like to have kids in a couple of years so that is a whole world of expense that as a non-parent I am vaguely aware of. I'm single so I could potentially be becoming a parent alone.

WIBU to take a lower salary career route to move to a more expensive area?

Can you get back into the old job, or one like it, in the future if the new job doesn't work out, or if/when your family circumstances change and you need more flexibility? If so, I'd go for it! You're single and don't yet have children - now is probably the best time to try new things and do interesting work. And living by the sea is great!

It’s hard to say OP, but you sound a bit bored and as if you want to change up your life?

What kind of job is the new job?
What will you be doing for housing - renting or buying?
Do you have friends and a family network where you are now (important if you’re thinking about having a baby)?
Are you looking to be in a relationship potentially?
What town are you thinking of moving to?

I could very easily move back to my job or a similar role, either in my current location or the new one.

I would be renting initially but I could buy once settled as I have a deposit.

I would like a relationship, my current town is very popular with families so I've struggled to meet guys here. But if it doesn't happen I'll go for kids alone.

I have friends and some family here. But I've only been here a couple of years so I'm not leaving established friendships and the family I have couldn't be relied on for support.

Would be moving to Brighton.

Oh move to Brighton, it'll be fun and you can afford it. If it doesn't work out you can change your mind, go for it!

I wouldn't to be honest. Progression is much slower, pay is lower and costs are higher. You'd struggle I'd imagine to save for a house and have a decent lifestyle.

Your choice. I imagine you'd have to give something up to move.

I'm very lucky that I don't need to save for a deposit so that isn't a concern. But yes in the short-medium term I'd be about £20k a year worse off than if I stayed where I am. But, the new career does give me the option of moving into contracting in 10-15 years which would be insanely lucrative.

I'm very tempted by the move but the combination of lower salary and higher costs makes me nervous. Although i know I'd be very fortunate with either salary.

20k is one hell of a difference, especially with extra costs. Check if you financially can afford it. It's not a guarantee you will get into consultancy either remember, and you may not even like it. Would be 10-15 years wasted if that happened, and for not even a decent return.

If you were going to get paid more, then it's easily worth the gamble. But you aren't.

Living in Brighton is bloody miserable unless you’re rich. Plus, house prices are rising waaay quicker than rents. And it’s full of cunting seagulls.

I live down here cos it’s where I live, but it really ain’t all that.