Is it too late for DH to go for a career change to try and earn more? He thinks so

[NC1012]

DH is early 40s and been working in the public sector for over 15 years. He has enjoyed his job over the years and worked his way up to senior management which is £55k. However he has been saying there is no real opportunities left to go higher, as the jobs are fewer plus the extra responsibility doesn’t reflect the pay.

Several years ago he said a career change might be the way to go to try and get near a 6 figure salary but has been too scared to give it a go. His friends in the private sector have done really well so he occasionally feels he played it too safe when he was younger. Also he fears a risk in career move now may not get him a higher salary plus job security could be a lot less than he has now. He is a likeable person and works hard and is dedicated.

He recently decided it is too late for a career change with a view to get a much higher salary and now it’s as good as it gets. He said he shouldn’t have sat comfortable in his 20s and early 30s.

We have dc1 5 and dc2 2, I am a SAHM so we have zero child care costs and live in a small 3 bed home. We have never been extravagant with money and have enough to live with a few treats now and then, and tbh it would be nice not to always second think about certain purchases.
Also we have been thinking of moving house to get more space but will mean a bigger mortgage for another 25 years.

Is he right and it’s too late for a career change to try and earn more?
Is the risk too great now especially with this year’s pandemic and who knows what the economy will look like next year?
Am I being unreasonable to agree with him?

Some days I think the risk is too great as he is the sole earner at the moment. But sometimes I think he is worth more but not sure he has the confidence to make a substantial career change.

And in two years time your youngest will be at school. And then anything you earn will be a bonus

I wish people wouldn't say things like this. Where I live, pre and afterschool care would cost you at least £40 a day for two kids, it could be more depending on which childcare provider had spaces and whether you can get back from in time to avoid paying for a second hour. And of course holiday cover is even more expensive.
You have to be earning a reasonable amount to make any profit from working when you have kids.

I think your husband needs to count his blessings. He is in a really good position in terms of pay, conditions, pension and security. He's done well for himself and he needs to focus on that and only move if he is moving to something as least as good.

So based on your update, is does sounds as if he has no real interest and / or aptitude for his friends’ higher paying roles? He’s just a bit jealous, without actually having a specific alternative career in mind?

Ex public sector worker here - I agree with those saying he should stay there. It's as secure as it can get. If he gets put "at risk" he'll stand a reasonable chance of getting a new job within the public sector. If the worst came to it there's no messing around trying to dodge redundancy obligations. And when he gets to retirement age the pension compensates for the lower wages when he was working.

Agree with PPs saying that in the current climate the best move seems to be for you to seek to return to paid work asap.

Your personal earning power, pension etc is important. If DH’s job is local, wouldn’t rule out a commute either, especially if with your previous experience you could work from home a day a two a week.

What is his profession OP? He may be able to transfer across without further training.

Similarly yourself. What was your previous career? Maybe you could do some volunteering to get some different experiences and boost your cv? School governor, trustee of a charity etc? Organisations are desperate for people with the right skills.

But as others have said, now us a tricky time to be considering a career change. Public sector is probably more secure than most. Are there secondment opportunities he could take advantage of?

You have to be earning a reasonable amount to make any profit from working when you have kids

You should also factor in the cost of not working: pension contributions, career history, learning opportunities and the vulnerability of being financially dependent on someone else.

I wish people wouldn't say things like this. Where I live, pre and afterschool care would cost you at least £40 a day for two kids, it could be more depending on which childcare provider had spaces and whether you can get back from in time to avoid paying for a second hour. And of course holiday cover is even more expensive.
You have to be earning a reasonable amount to make any profit from working when you have kids.

That’s surely dependent on where you live and the type of childcare. I’m paying £360 a month for 18 hours aftercare a week - £20 an hour can’t be typical?

To those saying wrap around is expensive. Yes it is although £20 per child is more than average.

But even in a minimum wage job eight hours a day is £80 and very minimal tax so basically gross pay. Then do forty hours a week £400 and don’t always need wraparound. Or even for two days plus wrap around that’s 80-120 pounds a week extra.

Plus that’s only on minimum wage and most people have a career before having children so will probably be earning more

A job for you seems essential, no matter how part time. As a previous poster said, you need to start paying pension contributions apart from anything else. Start applying soon. Once you are in a job you can try to negotiate flexible hours. Once you are earning it will be a huge boost to your finances (even more so when your youngest starts school).

He has done well, but your DH isn't a risk taker or he would have taken more risks before now. Nothing wrong with that.

I'm a great believer in finding the career to suit your temperament. A lot of people go for jobs for which they're well-qualified academically but not in temperament, then they can't cope with the stress.

I ageee, if you’d like more money then the easiest way to do this is for you to go back to work. Is your youngest not shortly about to become eligible for free nursery hours? You can then both supplement as required?

The longer you’re out of the workplace the harder it is to get in.

Is there a reason he needs a complete career change? Can he not just look for a role in the same field but in the private sector?

@NC1012

Thank you for all your thoughts and comments, with lots for me to think about and talk to DH.

My plan is to look at what career I can go back into and be happy in once dc2 is a little older and at school. When I think a new career/job, it feels daunting as I use to commute to the city, just over 3 hour commuting a day sometimes longer, 5 times a week before we had children. So I am keen to find something more local, as I do not really want to go back to my previous commuting lifestyle.

In terms of DH and career changing, he does look at the grass is greener in the private sector especially when money is tight. I expect deep down he knows he is settled in his job and career in the public sector, and enjoys what he does. Perhaps some of you are right that he is approaching mid 40s and looking back at whether he achieved enough in his career and life.

As others have suggested, perhaps looking at opportunities within his organisation in future and giving him the confidence that we are ok financially will boost his confidence to not think the grass is greener elsewhere.
Looking at a future job with potential career for me is the best way forward for now.

It does depend on what he does and how good he is at it, but I know people who moved from the public to private sectors and doubled their salaries within 3-5 years. If he’s serious about it he should research - maybe send a few speculative applications.

Working from home will become increasingly more common over the coming years (if not necessarily the norm), so forking out on pre and after school care isn’t inevitable. At least not every single day. And yes, always get the more senior career husband/wife to negotiate flexibility to do pick ups and drop offs, while you work your way up.

Good luck OP. Sounds like you have a lovely family and set up.

£55k sounds like a very good salary to me. There are so many people who would love half that.

The grass isn't always greener.

@Dishwashersaurous

To those saying wrap around is expensive. Yes it is although £20 per child is more than average.

But even in a minimum wage job eight hours a day is £80 and very minimal tax so basically gross pay. Then do forty hours a week £400 and don’t always need wraparound. Or even for two days plus wrap around that’s 80-120 pounds a week extra.

Plus that’s only on minimum wage and most people have a career before having children so will probably be earning more

You know minimum wage isn't £10 an hour don't you...? It's £8.72 and you still have to contribute NI and tax if you earned about £18k doing 40 hours. You would take home closer to £325 a week.

If I were you I’d aim to go back to work myself when the second child goes to school. In the mean time see what kind of thing is available in the local area and do additional training. There’s so much you can do online now.

It is not too late, 40s is still young enough. My husband did the same.

No one in the public sector can be furloughed. If you are mainly paid by the public sector for your job you can’t then be furloughed

I'm not sure why this keeps being repeated: www.local.gov.uk/lga-workforce-coronavirus-job-retention-scheme

"As has been the case throughout the scheme, publicly funded organisations are not expected to use the scheme, but they may be able to access it where any private revenues have been disrupted"

In his place, I think he would be unwise to leave his job for potential "grass is greener" reasons.

It's not just his job security for now - it's also his pension and the fact that working in the public sector can be immensely different to working in the private sector, and he might not like the difference.

I've known several people over the years who have left for seemingly better options (and better pay) in private sector, only to return within a few months (weeks, even) because they couldn't deal with the environmental differences in the job style.

So yes, I would say he probably has left it "too late" to make that change, but perhaps if he's keen to expand his role/ income, he could look at the possibilities of taking a training certificate (if appropriate) and becoming some kind of trainer or consultant in a private capacity as well as keeping his day job?

You're far too vague OP.

Public sector could mean anything! Teacher, H&S exec, admin, surveyor, accountant, HR,.....

what exactly is his role?

All I'd say is that in the private sector he would likely find that he would work much longer hours- the 37.5hr week in most public sector roles does not exist in private companies. Most people I know who earn £100K + are working 60-80 hr weeks, just to keep their jobs.
They don't work 9-5 and leave at 4,30 on Fridays.

For this reason alone, the private sector may be wary of him because IME they work a lot longer hours with much more accountability.

By all means suggest he applies for roles, but if he wants more money he will have to accept longer hours as the norm. No one gets paid £100K for doing a 37 hr week in private industry/ commerce.

Does he work in the civil service? If so, there are grades above that in reasonably good supply that pay more than 55k.

** We have never been extravagant with money and have enough to live with a few treats now and then, and tbh it would be nice not to always second think about certain purchases.

55k? where is the money going OP? Do you have a massive mortgage?

Why doesn't he try for jobs in the private sector that require similar management experience but command a better salary? He must have a lot of transferable skills.

Several years ago he said a career change might be the way to go to try and get near a 6 figure salary but has been too scared to give it a go

Being blunt, if he is 'too scared' to apply for jobs paying £100K+ he's unlikely to have the personality required and the drive/ambition to fulfil those roles.