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?

We aren't meant to save for our DC's futures. We are meant to rear them and give them the tools and build resilience in them so they will be able to make their own way in life. Don't save for them and take away their ability to achieve for themselves.

I think this is a very refreshing attitude.

I think you have to find out a lot more about the job and the role.
I moved from the private sector to public (more of a forced move) and I hated it- I found the public sector much more stressful, it was more political , more hierarchical , less of a meritocracy- a lot more stressful than my previous job.
I think part of it is that you get used to a way of working/culture and a huge move might not suit you

I've done this.
What will you be missing out on if you take the cut? For us, we can still afford holidays, a cleaner, extra-curricular activities for the children and similar things without really thinking about it. We're still able to save and overpay the mortgage, just not as much. It has ruled out private school but the better hours meant we could move somewhere with good state schools.
It has also ruled out the earnings potential I had had if I had remained in that industry. Since moving, I have had below inflation pay rises so earn less than I did in real terms. Former colleagues have continued to have pay hikes, bonuses and many have been promoted. They are now in the owning holiday homes, having a sports car for fun as well as 2 family cars, having a housekeeper category. We don't feel as though we are missing out by not having that. I do feel slightly undervalued though and was possibly naive in not realising that my salary would stagnate.
Taking on a more family friendly role does mean that I have taken on the bulk of the domestic stuff - both the mental load and the physical drudgery. But I get to see much more of my children (and house!) than I did previously.
I would echo previous posters caution about the dream organisation may not be such a dream. I do miss the money which was slushing around in my previous industry and meant that there was plenty of IT support, the latest gadgetry etc. And work politics exist in every organisation.

No I wouldn't. Similar hours and flexibility and having to cut back does not seem worth it. If it were less hours, and you still earnt enough to not cut back I would consider it. Could you speak to someone in your current role to make it a bit more interesting? Extra/different projects? Dream organisation does not equal dream job.

@user1491678180 I blame the heat for making me so gullible! haha

Well I've had a big think and done some maths and I've decided not to apply. But I am going to try to pep my existing job up, that's a good thought.

As you are on lowish 6 figs I'd say that 50k is too high a proportion to sacrifice.

I think so too Blue.

sounds like boasting to me

🤷🏻‍♀️ Sorry

40% of the differential is tax anyway so the real difference is "only" 30K, that's £2500/month net.
Quite a bit of money but you can offset that by thinking "is my happiness worth that?" Only you can make this decision.
I have 3 kids so it would not even be an option (they cost 3 times more) but I did a similar thing when I was 35 and pregnant with my third. Moved sideways, same crappy salary but so much happier!

Wow, I wish I had this kind of dilemma! clearly only here to brag

I’m really not, I think I’ve had some helpful advice. I’m sorry I’ve annoyed you. If it’s any consolation my DH earns less than 10k a year.

@Tessabelle74 - Wow, I wish I had this kind of dilemma! hmm clearly only here to brag

So anyone who earns more money than you is not entitled to ask for advice on a major financial decision?

There is nothing in the op that suggests she is bragging. Generally, posters saying that someone disagreeing with the op are just jealous annoy me but I can see no other explanation for your (and a few other's) nasty post.

Work out the difference in net pay - you'll pay a lot less tax.

Don’t forget if you change jobs you lose employment rights and would have to work 2 years In the new organisation in order to be protected.
The could sack you after a month and you would have no recourse,unless it was for racial or sexual discrimination

I haven't read the whole thread - but if your DH earns so little then a drop in finances like that could easily affect your marriage as it might seem like you were being self-indulgent by dropping the big salary.

Can you spend more of your money to improve how happy your current life is? eg spend more money now to enjoy your life more now - whether that's holidays or more cleaner hours/help with the house so you and DH have more free time and can enjoy yourself more?
(research proves that the only way that money actually can buy you happiness is when you use it to buy yourself more free time)

Isthisafreename

It's a decision only the OP can make unless she gives us all a detailed breakdown of her finances isn't it? Ask a financial advisor is the best bet, not a gang of people who know nothing about the circumstances. And besides which who says she earns more than me? Fairly presumptious of you

Wow, earning 6 figures and thinking of a £50k paycut, so you would still be on at least £100k.... and you think this is a problem? I would love that kind of problem can't give advice as you live in another world to me!

@Tessabelle74 - And besides which who says she earns more than me? Fairly presumptious of you

That is true. It was presumptuous of me.

Doesn't make your post less nasty though. On mn it seems to be completely unacceptable to ask a perfectly reasonable question about a financial decision if you earn more than a four figure salary.

Obviously nobody can decide for the op but sometimes it helps to get an outside perspective. You won't get that perspective from friends and family. A financial advisor, while essential for major decisions, will advise from a financial perspective.

Did you just want to say you got a 6 figure salary by any chance?

Apply for the job and if you get it then decide if it’s the right move. I took a pay cut to move sectors and built a whole new career, it was the best thing I ever did.

You don’t need to fund your children’s future, rather give them the tools to build their own - and doing a job that fulfils you is a major part of that.

@AutovillaGirl - Wow, earning 6 figures and thinking of a £50k paycut, so you would still be on at least £100k.

She said she was in lowish 6 figures after the paycut so would be on 50-60k, assuming lowish means up to 110k

Of course you should do it. My oh earns £12k a year and loves his job (classroom support for kids with ASN). I'm doing a degree to get into teaching so £30k a year. We have prioritised our happiness, making a difference in the world and family time. We will only work term time and won't do evenings/weekends apart from working from home when needed.

Life is too short, do what makes you happy, as long as your child is fed clothed and happy that's all that matters (and on your salary you could afford a lot more than that). Good luck.

@Lifecraft

Was only a matter of time before the People's Socialist Republic of Mumsnet turned up.

She wasn't asking for sympathy, she was asking for advice. Instead of sneering, why not be pleased for her, that she's got herself into that position.

Jealousy is a very destructive emotion.

PMSL. 😂😂😂 There's always one!!!

If you can't see the original post, is nothing but a stealth brag, you must have rocks in your head.