To take a 50% paycut

[WereYouHareWhenIWasFox]

Well not quite 50%, but pretty hefty. I have been quite miserable in my very stressful job. The only thing that really made it bearable is it was very well paid (much higher than similar roles in different organisations) and I get on so well with my very small team, especially my manager. However, my manager has now left and has offered me a new job that would be far less stressful and much more enjoyable, plus I get the added bonus of working with most of my old team who are great friends, as they are also leaving to go to him. However the money is a real issue. At the moment I have two children in college (Not U.K so it is very expensive) and loads of issues have cropped up recently that have depleted my savings quite substantially. The new job is a now or never kind of deal. What should I do?

Work out if you could actually afford the pay cut. Be realistic about your outgoings. Think of yourself in a year and think about where you want to be and write down pros/cons if you stay or go.

It's a tough decision to make.

It sounds like a VERY bad time to walk away from half of your salary. I wouldn't even consider it under your current circumstances.

Well it really depends on the salaries.

£40k to £23k, I'd say is daft.

£120k to say £70k when you consider different rates of tax, not so bad.

Massive drip feed, but it is not my only income (2 x part time jobs), so would be closer to a 25% cut, which does not sound bad at all. However our housing situation is precarious and we really need to move very soon.