AIBU to consider a massive pay cut?

[SisterA]

I currently earn £70k in a role with no management or budget responsibility but it’s high risk work and my output can have a direct impact on the whole organisation. I work in an industry that just has a lot of money.

I’m miserable. Feel out of my depth all the time which is mentally draining and part of that is because I just don’t find the work interesting. I have no interest or passion in this field.

I’ve been offered a role doing something totally different but something. I’ve always wanted to do (term time position) but it’s a massive pay cut (50%). My husband earns well also but not as much as me and we have 2 young children. One will be starting school this year but we will obviously have wrap around care to consider and the other still in nursery for another 3.5 years. His funded hours will kick in next year.

my husband is dead against taking this job and is adamant we won’t survive. We do have some debt but it’s not outrageous. I think the term time working will be a bonus as we won’t have to think about holidays in future. We might accrue some new debt but I think we can balance it and be super frugal until funded hours are in next year when things will become much more manageable.

would you back down? Or would you insist on taking the job. AIBU for seriously considering this offer or do I need to just continue to be unhappy for another few years until we are more financially stable?

Currently contemplating the same.

Is there a half way house? A less dramatic step down? Or doing the low paid job and getting some contracting work on top?

Have you worked out the monthly income & expenditure in both roles? It might not be as much difference as he’s expecting. With a 70k salary you can’t claim child benefit and will be paying high tax. You’ll also have increased childcare costs. Work that out vs the new salary, potential addition of child benefit and lower childcare costs. There’s a salary calculator online where you can work out what your take home pay would be each month.
I recently considered increasing from 24 to 35 hours once my son turns 2 and it worked out that even though it was a big salary increase, I was only going to be about £200 a month better off overall because of these factors. I wasn’t prepared to give up 2 days a week of my time for an extra £50

You've made a decision, op, but I just wanted to add a different perspective as I've been in your position. The job (or industry) I had no passion for took its toll on my mental health and I ended up quitting in August last year. I'm just about to begin work as a consultant. It was the best decision I've ever made and I hadn't realised how miserable I'd become. It was risky, but dh saw how important it was for me and supported me every step of the way.

Your joint income sounds high, even if you took the job and pay cut, but are you in a particularly expensive part of the UK? What are your current/ prospective incomings and outgoings? If your costs are still well covered and it just means fewer monthly 'savings' or less lifestyle money, then I'd consider making the change.