WIBU to take a lower paying job that I'd enjoy more?

[OldLeatherSuitcase]

I work as a contractor on digital teams, and I've outgrown my job. I usually work for companies that don't feel very me, I came from a creative background and feel a bit fish out of water in the businesses I work for. But as a contractor for big businesses my pay is better than it would be in more creative industries or charities etc (either would be my dream job).

I've seen a permanent job in a much more creative industry that is much more me. The job is also a step up in seniority so will give me a new challenge. BUT I will be taking a large pay cut to do it.

YANBU - apply for the lower paid job, choose career fulfilment over money
YABU - stick with contracting, choose money

I will still be able to afford my mortgage on the perm role, I'll just struggle to save anything and will have to cut down a little where we can as a family.

I am currently not working so using my contractor savings to live off (which is normal for contractors to do in between contracts).

I am aware of how lucky I am to have this choice to make, I remember how horrible it is being out of work and worrying where your next £ is coming from, I did this for many years (we had nothing and I was very depressed). I think because of our financially dire years and the debt we got into, I do have anxiety over money, and my husband finds it harder to cut back on spending than I do, so I worry that he will mess things up for us financially if I take the lower-paying role.

You're getting ahead if yourself here. You havent got the job yet. Apply and see what happens

Have taken a pay cut twice in my carrerr and DP is about to do the same. I've never regretted it and the pay usually increases over time anyway and you'll adjust accordingly.

GoldfishParade I thought as I pressed create conversation that I should have added a bit saying 'I might not even get the job'... but I don't want to go through the pain of crafting a great covering letter and CV and preparing for an interview and doing an interview (always stressful) if I'm not going to take a role if offered. I do too much CV / interview crap as it is as a contractor and it takes a lot out of me to keep doing it again and again.

I need to be clear on whether it's a good idea or a stupid one before I even apply and this thread is part of my process (just curious to see what others think at this stage).

jdoejnr1 that's interesting to hear. Do you mind me asking what % or £ you both took as a cut?

I actually know where you're coming from. You should apply, simply because you've said you've outgrown your job. Irrespective of money, what are you going to do about that? You need to apply for this as well to get a general sense of how you do in the job market. You say the job is much more you, but is it worth daydreaming about a job in this kind of field if actually the job market means you don't make the cut compared to other candidates?

If you really want to change paths, you'll need a sense of what part of the application process you get to in this sector.

Thanks GolfishParade, all very good points, I hadn't thought about it from that perspective.

The job is still the same as my current job, but a promotion and in a more creative business. And I used to work for this type of more creative business previously in my old role. I think with my current CV I'd have a good chance of getting an interview.

@OldLeatherSuitcase
It sounds great. You have to apply but make sure you come back and tell us what happened ;)

Yes - apply and I hope you do well in the selection process.

Job satisfaction is better than ££ in pocket. Obviously the ££ is essential but if the choice is between enough and joy versus lots more and misery then I'd go for the enough job.

I'd look at it more that you are getting a more secure job (well as much as u can at the mo). Plus your not working so why wouldnt you.

The interview will give you a better idea I think about the trade off, though as a freelancer I know what you mean about the constant finding work.

The other thing you might want to consider is the longer term effect on your finances, I'm in my 50s and wishing I'd paid more of my mortgage more quickly plus had a larger pension pot, that would help my quality of life in future years, though I don't think you should sacrifice now for the future either, it's a balance.

If you can afford to take the cut and will be happier - go for it 100%.

Going from contracting to permanent will always be a pay cut - but you get the difference in job security, paid holidays etc. Perhaps see how it compares to similar permanent jobs in the industry to ensure it is a fair salary they're offering.

There is also nothing stopping you negotiating a pay increase into your contract on completion of probabtion etc.

We spend 40+ hours of our lives every single week working - it blows my mind that people do jobs they're not happy in.

I'd always take happiness over money.

Well, you're not exactly taking a pay cut because you're currently unemployed.

Ellmau the way it works is that I build up money in my business account and can then take time off between contracts with no decrease in what I pay myself monthly.

So yes I will be taking a pay cut from what I am paying myself at the moment. I have enough to live off for many months and can find another contract before I run out of money in my business account.

TabbyStar you raise a very good point - I'm 48 and have no pension! I feel the sensible thing would be to keep contracting and pay into a pension and maybe try and pay off more of my mortgage.

But I'm so tired of the projects I end up on and also I love the idea of being settled in a job and not having to keep moving around.

Why is this feeling like an all or nothing decision?
Apply. If you like the feel of the interview, take it if offered.
If you feel you’ve made a mistake, after 6 months go contracting again. Back to the same money PLUS the promoted level work experience to increase your employability.

notapigeon it blows my mind too that I've ended up in this situation, so unhappy with my job! I used to like it when I started out.

Waveysnail good point the the security having a value too.

SmudgeButt thanks, I hope I get an interview if I decide to apply. You're probably right about the misery!

GoldfishParade thanks, I'll definitely update here if I decide to apply.

Even if I don't get an interview it's good to think this through as there'll be other perm jobs in future.

I've been wondering about a job too, though I think I'd struggle with being tied down, but I wonder for you how much of this is driven by the uncertainty of the pandemic (nothing wrong with that!) or how much you think you'd be considering that anyway, and if it is about the pandemic are you likely to feel the same after things get back to normal a bit more, whenever that might be?!

Depends on what the industry would be - but aside from the fact you’d enjoy it, the job security might be worth it in Covid times. Plus the sick/annual leave etc.

Cocomarine blooming good point! Not sure why I hadn't considered that option! I was probably focussing on the switch from contract to perm messing up my current financial year's tax bill and thinking I'd have to close my company.

But I could do as you suggest and see it as something to try and something that can be changed if I think it's a mistake. I'm taking the word 'permanent' far too literally!

Life is for enjoying and if you have to work, make sure it's something you enjoy.
Life is too short to be a wage slave at a job you can't stand.

I'm a contractor too and the thing that gets me is the repetitiveness of it. Sure, every project is different, except...they're kind of not. I'm also tired of being brought in for one part of the process, but never being part of a bigger idea from start to finish.

I'm looking at completely retraining though, and going into an entirely different vocational career.

I wouldn't get a job doing what I do as a contractor, because as a contractor I make way more money for way fewer hours compared to salaried positions

Just go it! And good luck. If they love you, you might get more money than the advert states anyway. Or you’ll quickly be able to move in into similar roles that pay better.

If you can afford to take the salary drop - go
And apply. Yes you might not get it, but at least you won’t be wishing you had tried.

Very best of luck. An job you enjoy is worth a huge amount.

TabbyStar I also worry about feeling tied down.

I started considering perm when the proposed IR35 changes were due last April, I didn't want to work inside IR35. The pandemic isn't a big part of the decision it's more about not having to keep switching jobs, plus career progression giving me new challenges.

I love the fact that contracting means I can take more time off but then I often spend my time off hunting for the next contract anyway!