Dream job - pay drop - would you ask for more or not apply due to COL?

[Varren]

So.. I’ve been in current job for 5 years and worked up to a good rate of pay. Not the top for my level, but good. We still find it tight to make ends meet and I’m paying off a loan plus all usual costs for living these days. I’m happy there and it is permanent job with poss wage increase in future years.

I have seen a job I would love. It would be competitive to get but for my sector the wage isn’t huge and is 5k less than I am currently on.

it is for a fixed term initially with potential to extend
with cost of living and my son at university we can’t afford the pay cut but this would be a dream role. To lead a big project.

would I be unreasonable to apply and if I got it see if they would up the wage or contact them now and ask if there is any wiggle room before going through the application battle?

I guess I am in a heart vs head situation and feel guilty and torn

it’s a charity and chance to lead on a long term project that is close to my heart. Currently work for another bigger charity but with a bigger org comes a bigger wage but the smaller org would give me chance to lead that I don’t currently have

what would you do?

5k less than 25 no
5k less than 50 or 75 for your dream job is different
5k less than 100k different again
Depends on starting point

Good point.. I’m currently on 45k

No harm in asking but a £5k leap would be quite a lot for what is already a not too bad salary in charity terms.

That’s what I’m thinking and I am never one to ask for more and realistic about the sector. I just don’t want to put my dreams over what would be a great project to establish and lead and be a part of vs the realities of what we need day to day.

I don’t come from money and have worked hard to get where I am.

Fixed term and a lower salary doesn’t seem like a great move to me, especially in the current climate. What happens in a years time, or whenever the fixed term is up? The experience gained would have to be pretty special to take the risk I’d have thought.

I’m in a loosely similar boat - my current job causes me so much stress that I’m looking at lower level jobs to escape, and have worked out a minimum salary I need as the breadwinner to keep paying the bills. It’s a difficult choice because people tend to cut their cloth according to their salary so then struggle to cut back for a lower salary.

Apply, see if you get offered it, and then have a conversation about pay. Think in the meantime about what would be manageable - £3k less than you’re currently on, or £2k… bear in mind that over a year and after tax etc, that’s not a huge difference each month, so could you afford to offset that loss now against the potential of improving your future salary thanks to the experience this job would give you? If you reframe the cut in pay as an investment (whether in experience or in interest or better work life balance, mental health etc) then, if affordable, is it worth it to you?

It might not work out. That might be the max and maybe you just can’t afford to take that cut. But if you don’t even apply, will you always wonder? If you apply and don’t get it, well, the pay was too low anyway and maybe something else will come up.

I don't see why they'd match a candidate's salary if they're coming from another role. Different jobs have different pay and they've advertised a set amount.

Thanks so much for your kind replies.. I really appreciate it. Sorry to hear your current role is so stressful that you are looking for an out @TravellingJack I’ve been there in the past too .. Hope you find something good with a great organisation soon your post was sound advice thank you.

Check how much you actually lose after tax.

£45000 take home approx £36000
£40000 take home approx £32300

Actual drop £3700. £300/month.

Thank you I was just looking at tax actually snd I could pause the salary sacrifice I have on current pension scheme as well which would help..

My experience of negotiating salaries with charities is that it can be difficult. I have often seen them negotiate time for money. (Eg role marketed at £50k full-time, candidate wants £60k so they agree to pay £50k but for 4 or 4.5 days per week instead of 5). Flexibility to increase often depends on their budget but also how paying you more would impact on your peers.

Whatever you do, do not apply if you know you definitely will not accept at their advertised rate - that's just wasting everyone's time. Call them, have an open and honest chat and then decide.

With regard to the Fixed Term contract, I would tread carefully there. The UK economy is very challenging currently and now that the NI rules etc are starting to kick in, it is likely to get worse. Set against the instability of Russia and Trump, I would be very cautious about a short-term contract unless you are very confident your family can survive for a while financially should you find yourself on the jobs market for a while.

Sacrificing some money in the short term for increased job satisfaction might make sense, but I would be cautious about sacrificing long term financial stability by reducing pension contributions, especially for a fixed term role.