I’m 38, have worked in public sector admin for 15 years and I’m thoroughly fed up of it - I earn a fair wage (£30k pro rata though I’m PT) but the work is dull with no career progression.
After having my DC (now 7 and 4) I completed a Master’s in a totally new field (a social policy type degree, which I chose purely out of interest/wanting a challenge - no prior professional experience in the field) and unexpectedly ended up doing pretty well. My supervisor encouraged me to apply for a PhD the following year and I‘ve been offered a funded place at a top 10 university with an 18k stipend. Due to my personal circumstances (DS has ADHD, DH works away a lot) I told them I was unable to study full time and they’re happy for me to do it PT over 6-7 years.
My current employers won’t let me reduce my hours so I either need to:
a) continue working 3 days a week in my job and study around that, which nearly killed me with my Master’s;
b) give up my current job and look for a 1-2 day/week job, which seems nigh on impossible for anything above MW where I live; or
c) give up work completely and focus on the PhD - so be able to devote more time to it and my DC but spend the next several years on a very low income (about 9k p.a.) that only just covers my basic living costs (DH earns slightly above average and would contribute proportionately but works fixed-term contracts so neither of us would have a permanent job, and we have a mortgage to consider).
I’m drawn to option c) but I’m scared to give up the job security and take a risk (I’m very risk averse!) For background we have very low childcare costs as MIL lives nearby and helps with the school run etc, and both she and my parents, while not rich, are comfortable enough to help us out a bit if we were ever in dire straits. WIBU to do this?