To downsize my job

[Firstworldproblemhelp]

I know this is a massively first world problem, and may be distasteful to some, in which case sorry. I have name changed as this may be outing.

I am a senior professional. I’ve been doing my job for a long time & think I’m quite good at it and earn well. However I butt heads a bit with management and some of the other owners as I think we’re too focused on the money. I’ve therefore been frustrated and quite unhappy for some time, years if I’m honest.

There have been some changes recently and I were part of a much larger organisation. That is never what I wanted and I feel like it’s taking us further away from our core values, and whilst it may mean there is more funding for growth I just can’t get my head around it.

I’ve got another opportunity on the table, the people seem lovely and I think I’d be a great fit. However it is a lot less money than I’m on now (about a third) - realistically I won’t get anywhere near what I get now elsewhere and I accept that, but I would need to relocate and with increased mortgage rates I’d be less well off to the tune of about £1.5-2k per month. I’d still have a nice life, just a lot less savings than I could make if I stayed.

Am i being an idiot to go?

It definitely sounds as if it's time for you to move on, but are you sure that this job with relocation and massive pay reduction is all that is out there ?

Thanks for responding @rookiemere. No, I’m sure it’s not, there are others. Part of me doesn’t want to do exactly the same job as I’ve become so fed up I don’t know if I have it in me and I’ve lost a bit of confidence, plus I feel if I move for the same job and hate it just as much I’ll be really stuck. This job has a slightly different emphasis, with more of the stuff I like and less that I don’t. I also don’t want to mess them around as they really do seem lovely, so not sure I have time to look- I don’t think I really believed it was going to happen so it’s all become real a bit quickly.

Any room for negotiation with the second company?

I think the one thing that worries me is you might be unconsciously wanting to demonstrate that money isn't important to you by choosing such a big reduction, or I could be spouting psycho babble who knows.

Where is the move to ? Is it somewhere you'd like to live ?

What is where you would have to relocate to like? Do you have family and friend ties to where you live now?

I wouldn't want to downsize my job unless due to going part time.

I will definitely try to negotiate up.

it’s a very perceptive comment about the money, I’ve always felt a bit uncomfortable with my earnings, almost embarrassed I guess. I did basically give up a decade of my life so I’m not sure why. My therapist didn’t seem to be able to help me with that!

Thanks @yoyo1234 . Do you mind elaborating on why you wouldn’t downsize?

it’s a lovely area. I love where I am now, but the other place is objectively prettier. House prices similar. I have good equity in this house so could sell and put maybe 40% deposit down, and frankly could have a slightly smaller house.

For me it's because I have DC . My youngest is 2. I do not earn much and in the past have really struggled financially and with job security for DH and myself. We have at times had to tell eldest to make sure he eats all of school meals etc. and would be worried about similar with youngest. You have worked hard to get to where you are and it seems odd that you feel you have to punish yourself (you should be proud of what you've done). I also think if as a whole society value what they do (can think of lots of jobs and roles that are undervalued).

I think there are too many variables and personal bits of info that we just don’t know about to be able to give any decent advice really. Depending on your age and how long you see yourself working for, that could be a big factor. Personally I wouldn’t be downsizing unless it was to go part time. You’ve clearly the experience and drive to command your current salary, don’t sell yourself short to be a martyr. And what’s to say this new company won’t do exactly the same in a few years time? Business is business they go where the money is. From the basic facts you’ve outlined id be staying put and enjoying my handsome salary, meaning I could retire sooner and be out of ALL business, living the life I wanted away from corporate anything. I hope you figure it out @Firstworldproblemhelp x

I've done this twice- first to move from the profit to non profit sector, and then to cut my hours. I won't lie, it's scary seeing a smaller number come in monthly, but it depends now close to the edge you are- I went from very comfortable to still comfortable in my first move. I also think it's hard to go back up. So make sure you have your back end covered. Having said all that I'm delighted I made both moves, but doing it having achieved a reasonable level of financial security and no desire to go back to a full on ladder climbing mentality we're essential

Opps "I also think if as a whole society value what they do (can think of lots of jobs and roles that are undervalued)."
Should be: I also think if, as a whole, society appreciated the value of what they do it could be better for lots of others (I can think of lots of jobs and roles that are undervalued).

What age are you OP and what are your pension arrangements like?
You might be more minded to stay in high paid employment if you have a definite end goal and date in mind.

Also is there scope to introduce some charitable activities in your current organisation? I've managed to bring a bit more meaning to my working life by throwing myself into a few extra curricular initiatives for the less privileged, also gets me brownie points at year end assessment time.

What about negotiating with old job to go down to 4 days first. Then this will give you the chance to spread your wings, try other things, before you jump ship completely. My friend is a very very senior employment lawyer had been doing a board charity day for the last year and really enjoying it.

Thanks all, this is really helpful. I’m early 40s, so still probably 20years to go. I’ve maxed out my pension for the last couple of years so got about £250k and about £200k across various investments.

In relation to @grosslyunfair’s comment it would be a choice to take a slightly sideways step, so wouldn’t be expecting to try and reverse. I guess that makes it scary to as a step into the unknown.

Ive been trying to do the volunteering stuff @rookiemere , but my job is so full on, and my motivation so low, that’s it’s been super difficult.

Thanks also @MyWillyBrokeTheDogBowl thats what I feel like I “should” do, but not sure I can bring myself to keep doing it, at some point it’s going to become intolerable and will I then be in a worse position….? Love your username by the way!

What's your personality type?
Would you take the lower salary and still work long hours?

Depending on how your earnings are, it may also not be that linear in terms of net and gross incomes if you move into different tax bands etc.

Also as someone else noted do think about how you will feel with the change. I was very focused for a long time on climbing the ladder and it's a change of headspace to take your foot off the gas.