to take a 50k paycut

[RiddleyW]

Bit if a WWYD I suppose.

I currently earn lowish 6 figures and a really really interesting job has come up but it's a significant paycut, around 50k at least (and more if I assume I get my max bonus in current job).

It has a somewhat better pension and 2.5 days more holiday a year. Probably similar hours to what I do now and similarly flexible.

In many ways I think this might be complete madness but honestly it is working for my absolute dream organisation.

As a family we could afford it but would mean some cutting back and definitely saving less for DS' future.

Feels selfish to even consider it really but I'm sooooo tempted!

So, would I be unreasonable to go for this job?

Oh Grim! Yes that's the worry isn't it.

If it was a case of taking away a load of stress then I'd definitely do it in a heartbeat. My existing job is sometimes stressful but I suspect the new one would be too. Commute similar, hours likely to be similar.

I do find mumsnet good for this sort of thing, genuinely grateful for lots of this advice - I think a list of pros and cons is right.

I moved from the private sector to the public sector after having kids. Yes it was a big pay cut but I’m pt, pretty much tto & have flexi hours & have a teeny commute, so I have a good work/life balance. Plus a much better pension & still have lots of scope for progression. What I also appreciate is that the work is much slower paced & lots of people are in their 60s, I would not have been able to work in my previously highly pressurised environment for much longer.

I wouldn't unless my current hours / commute / work environment were shit.

But even then, I'd prefer a small pay cut over one that high!

Anyone tried pop-corn ice cream though? if it wasn't for the risk of cracking a tooth on unpopped kernals, I reckon it would be a bit like having little pockets of unsweet marshmallow in your ice cream...

I think I’d be reluctant. -2k/month is likely to make quite a difference to your lifestyle if your husband is a lower earner than you. And how would you feel knowing that you’re working just as hard but getting so much less? And a smaller pension?

If there isn’t anything really wrong with your current job, eg bullying, awful hours so you don’t see your family etc, then I’d stay put.
You can wait for a similarly paid position to come up and get excitement out of stuff outside work.

No, you should try first to find a job that's more in alignment with your values/interests but which ALSO matches your current salary.

If you can still afford the lifestyle you want, go for it!! If you can still save (admittedly maybe less than you are now) then why not??
You know it would make you happy, you're still earning well. So long as it's not to the detriment of you or your family's security, do it!!
And good luck!

I’d apply for it and if selected for interview go. On paper it may be perfect, but think you need to meet them before making a firm decision. It doesn’t meant you’ll get the job or even take it if you get offered, but will help you make a more informed decision.

They may ask about salary and I would be unwilling to disclose, as that may scare them off!

I once left a job to work with an organisation I wanted to work with. Took a pay cut I wasnt earning like you though. But a pay cut is a pay cut. Worst decision ever I made. I ended up back at the organisation I used to work for in a different role on less money again and have had to work my way back up.

I’m not saying this will happen to you but the grass is not always greener.

Honestly, unless your current job is hellish long hours/commute and / or impacting your mental health, I’d stay where you are.

Keep saving and don’t upgrade your lifestyle to fit your salary: you would them be able to retire earlier

Get tae fuck is what I'd say. And I'm not even Scottish.

I think it depends on whether or not there would be a hit on your current lifestyle and, if so, whether you'd be happy with that.

Absolutely nothing to lose by applying. You’ll have a much better sense of whether it’s the right move for you after you have had an interview (and you may not even get one anyway, in which case decision made for you). It may be that what seems like the dream organisation from where you are now will not quite live up to that potential once you have got a bit more insight.

I stepped back from a very high pressure frontline job with a massive salary to a part time position on much less money. I still work with numerous people who do my old job and have never regretted my decision for a second. I did it after having a baby though, so wasn’t quite as stark a contrast IYSWIM.

You only live once, if you think it’s the job for you, and you can afford to live now then do it.

I took a pay cut from £45k to £30k for a “job with a dream organisation”. Trouble is, they were used to being able to treat their employees pretty badly because so many people dreamed of working their in the central role of the organisation they knew they had a steady stream of replacements.

My job was in a more technical role, one with a severe and long-term skills shortage across many industries.

It had a horrendous working culture. Bullying was rife. I resigned to get away. They struggled to replace me as I spoke about my experiences to both the recruiters and peers, and they ended up restructuring.

It was honestly hideous.

This was a long time ago by the way!

I would definitely consider it if I wasn't happy, OP.

I'm in a similar position (salary wise) but, luckily, happy where I am.

If I was unhappy I would definitely consider a large pay cut to get into something more agreeable. Other than to bolster savings, what I earn doesn't change our lifestyle in any way over what it would be if I was on, say, £50k, so why not change to something lower paid if necessary?

Having said that if the £50k cut will have a big impact on the potential of saving heavily for retirement - depends how old you are, obviously, but saving an extra £2k per month will make early retirement much easier.

There's more to life than money.

If it is your dream organsiation, you can afford it and it will make you happy, then do it.

Go for it!

Honestly I did the same currently earn €64,000 less than i did 2 years ago and I love it.

It’s not quite comparable as i cut 40 hours to 25 so can always collect the kids from school.

I enjoy what I am doing more have less stress and get to spend more time with the kids it’s a win win and I really have no need for anything material having been on a good wage for years.

If it's a charity do they have a board of trustees or similar? Could you be involved with them at a meaningful level without being an employee?

I've done this (moving from private sector to public sector and to a different role), although new job is also less stressful and more flexible. It's great. No regrets!

Work out how much pm you would lose then calculate where you would cut back. Decide after that

What does your DH think about it? To me this hinges on how much happier you would be in the new role than where you are now. You don't say you are unhappy in your present job, just that the organisation is your dream employer (where, presumably, your current employer isn't). If I were you, I'd apply and see how it goes. You don't have to actually decide until you have a job offer in front of you.

Before retiring, I applied for a job that was at significantly less money than I was earning (not £50k, but a fair bit) and didn't get it because the interviewing manager thought I would be chasing her job in a year. You might find the same .... they may be your dream employer, but you might not be their dream employee.

If you can afford it then I don’t see a problem.

What's the "somewhat better" pension worth?

What contributions are you making in your current job? What will they be in the potential job?

Is retirement so far away that you disregard it?

Will you be able to get back on the roundabout if you jump off?

Will it affect the amount of hours you are awake and in your own home?