To feel I am not doing as well in my career as I hoped for

[Whyty]

I was looking at my career path and was thinking that I am not doing as well in my career as I hoped for 5 years ago.
I have two degrees Bachelor's and Masters. Over 10 years of work experience in IT. Have been working in public sector for several years now. My first salary was £35k and 10 years later I have only managed to reach £65k and a good pension. I am in a senior role with responsibilities.
I haven't changed many jobs through my career and prefer working in public sector for good work life balance. I am early 30s and I honestly feel I was hoping for earning more by this time when I look back. AIBU to feel sad about this.

I'm impressed by you and think you've done really well.

I know how you feel OP, I am a similar age with a similar career trajectory so far, and when I think my wage in real terms has actually declined in the past 5 years (despite having more seniority in the same company now) I feel a bit panicky.

OP, I admire you for balancing family life/TTC with what sounds like a good setup and good job in a good company. Try not to compare yourself to others, and remember on your deathbed you'll be thinking of the time you spent in your life with loved ones, not how much you earned :)

Only 65k in your early 30s? You poor thing 😂😂😂 I earn a similar salary and I feel extremely privileged to be earning so much

You've chosen an easy life of 10 minute walk, public sector, etc. over job changes in the private sector that would given you a larger wage.

You'll take a hit because you want to have children now and you'll have to have time off for that and you'll be doing the child care so you're further limiting yourself.

It seems a bit odd to moan over things that have been completely up to you.

Public sector is so badly paid it’s exploitative. They sell you the myth that you’re helping society. Truth is, for the difficult stuff the government hires in private sector workers anyway.

Just switch to private sector and get paid what you’re worth. Or, carry on being exploited 🤷‍♀️

I am looking for another jobs outside but if I don't find anything else in next 2 months then I will be staying in this job for sometime while I sort out growing my family.

There may be a period before private sector enhanced maternity benefits kick in. Otherwise it will just be statutory maternity pay and leave which is a pittance. You will have to factor that time period into your TTC calculations if you are prepared to wait.

Also, getting pregnant soon after starting a high paying new job is not going to earn you fans at your new employer, however much it is your right to do so. It may affect your career progression.

I would say if TTC is on the cards to stay put.

Years ago, a friend of mine had done quite well in local authority and climbed the ladder and was on “good money”. After maternity leave, it was agreed she could go back three days a week, 12 hour days, Tuesdays, Wednesdays and Thursdays.

Childcare was made much easier three days a week, very little drop in salary etc.

Jobs like these don’t come about that often, as she found out when her department was contracted out.

The person who does her and a colleagues job now, gets two thirds of her salary, works five days a week.

She managed to get into another council department, but it meant 21 hours for three day weeks and not 33.5hour three day weeks

£65,000 a year isn’t a bad salary especially when you are only working your hours, and if you’re working more hours than your contract, gradually stop doing it.

Living ten minutes from home saves thousands running a car etc etc. good luck

So basically you aren’t prepared to make the sacrifices people make to get further in their career because you like your job and want to be close to home.

I’m not really sure what you are expecting?

@ScroogeMcDuckling Thanks, that's helpful. I have flexible working arrangements available. Can do condensed hours etc.

advice is to look very carefully at your full package rather than just the cash salary.
for one thing if you work in the private sector, ununionised, your time is not necessarily protected. I realise that is the case for some public sector roles such as teaching etc. and leadership roles but for instance in my type of profession it’s expected to work many more hours than you are paid for, such as up to 70 a week. It’s very high stress. So whilst salaries might look high when you consider how many hours are worked it really isn’t. Those extra hours literally cost money in childcare if you have kids.
holiday allowance is also really important if you have children. I salary sacrifice to buy an extra week but still need to cover more than 7 weeks of school holidays a year with holiday clubs (at £150 a day for three kids) and sometimes taking unpaid leave.
I also pay a lot into my pension because otherwise it just would not be adequate.
also think about the lack of commute - if you have kids in childcare then you may need to pay for that extra time (eg if both parents work) so that is an extra saving.

You seem very successful to me already. You are only early 30's, still so much you can do with your life and career if you wanted to!

You've made your choices, which are not necessarily bad. Short commute, fix hours, good pension, flexibility and maternity leave protection. You'll lose a lot of those if you change jobs now, for the sake of a better salary. I think you are underestimating what an easy work life you have at the moment

I’ve a few friends working at FTSE 250 companies - their mat pay was extremely generous (better than public sector) and their pensions are excellent. Also they earn a lot so can save extra for retirement. They work hard and are v talented.

This “oh but the pension” rubbish everyone spouts whenever someone on a low public sector wage is irritating. If you can earn more in the private sector then go there.

If you’re a bit shit at your job though, lazy and take loads of time off sick then you’re best off staying put

You have listed many irreplaceable financial benefits:

Flexible leave
Generous maternity
Working close to home (saves money and time)
education paid

Your thinking here might be a bit naive. All of these add up to be life changing financially and make the difference between a great job and a miserable one.

This “oh but the pension” rubbish everyone spouts whenever someone on a low public sector wage is irritating. If you can earn more in the private sector then go there.

Sure. But factor in pension provision and do the maths before making a decision.

I have a well paid private sector job. My pension provision, compared to a public sector job at a similar education level, is low, despite me contributing across my working life And my employers have been, mostly, on the generous side in terms of contributions.

Direct benefit pensions work totally differently to direct contribution pensions. People are well advised to understand that and work out what that means for them financially before making decisions. The salary figure is just one consideration among many.

It's good to hear other people's thoughts as well. I think I will stay put as I have opportunities to grow further in my career here after having DC and coming back from mat leave. I think I will need more flexibility after DC and this role might suit me better.

This “oh but the pension” rubbish everyone spouts whenever someone on a low public sector wage is irritating. If you can earn more in the private sector then go there.

It's not rubbish, it's just a reminder to check the WHOLE package, a job might pay £20k more but if the pension is rubbish then you have to consider if the £20k pay rise is worth it if it is a solely financial move (it may well still be if you need the money now, but it should still be done with both eyes wide open). The truth of the matter is there are very, very few private sector pensions that will compete with public sector, so when considering the finances that can't be overlooked.

Meh. I made a lot of money working in IT in the financial services industry. I also commuter >1 hour each way, worked all the hours under the sun and endured ridiculous stress.

If you want to “do better”, you can. But it will come at a cost.

*commuted

@WonkyFeelings just curious, if given a chance, would you do the same again?

As many of you have suggested, I am now going to write everything down about my package including pensions and holidays etc and then compare to any potential job interviews I might go for.

I've only ever worked in large multinationals, up to senior management level.

I can assure you that not all FTSE-250, or even -100, companies have anything like "extremely generous" Mat pay and "excellent" pensions.

There was only one FTSE-100 company offering a DB pension in 2022.

Even 10 years ago there was only a few offering one.

https://corporate-adviser.com/just-one-db-scheme-left-in-the-ftse-100-isio/

Virtually any DC pension is inferior, no matter how well the employer contributes.

Early 30s and £65k and it's not enough?? Ok then.

I would, yes, but I’d be a lot more cynical and take it a lot less seriously.