Pay rise or WFH

[ItWasCalledYellow]

I have an offer of a new role with a great pay rise. Situation as follows:

Option 1 - stay in current role on a salary of 90k, amazing flexibility, 3 kids from ages 4-11 all will be in school by sept, lower childcare costs with all in school by September and flexible role where I can collect from school 1 day a week and by 4.45pm at childcare on other days. I am under a lot of pressure in current role to deliver unrealistic demands on occasion. However, I know the role very well and can do it with my eyes closed. 2 days commute 35 mins each way, 3 days wfh.

Option 2 - new job, limited flexibility, 5 days commute 15 mins each way, 120k salary, no flexibility to wfh and it will be possible - 1 / 2 day wfh in approx 9 months.

AIBU to go to new role where I cannot drop my kids any days to school, they will be dropped by child-minder, currently I drop every day to school due to flexibility and they are collected by a childminder 3 / 4 days per wk. In new role they will be at childcare before and after school 5 days a week to approx 5.30pm. My DH has no flexibility to do and is gone each day to work from approx 6.45 to 5.30. Is it just better to stay on less salary with great flexibility. I have a very good pension pot.

Given you’ll lose a lot of that payrise in tax, potentially childcare costs depending on your dh’s salary then I’d think really carefully about giving up the flexibility of your current job.

Stay with option 1.

Salaries between £100k and £125k are hit with an effective 60% tax rate so suggest you do the sums but you’ll be giving up a lot of flexibility and time with your kids for minimal extra income.

The flexibility and WFH element is worth it's weight in gold imo so that part is a no brainer BUT you mentioned the current job has unrealistic demands. How much of a problem is that/ is it going to get any better/ is it likely to happen in the new role?

Don’t you lose childcare benefits over £100k? Not got a child that age any more so don’t know ins and outs.
what’s the net difference in salary? What extra costs? Have you lost opportunity of similar job in future?

that’s the sort of thing I would factor in

Option 1 - flexibility is better than more salary. You have 3 DC - at least one of them will be ill when they all start school in September. How will you manage sickness and holidays in Option 2?

Option 1 100%. You have kids to be present in their lives and I say this as someone who spent a long time working long hours and only seeing them for a few minutes morning and evening between childcare and bed. It's not worth it. Your salary in option 1 is still great and the flexibility and presence in your kids lives is priceless.

You need to check out your effective tax rate - basically no difference between earning 100k to 150k unless all goes into pension (but you said that’s all good).

On balance - depends what your husband earns. For me I’d actually take the £120k job and then in about three months after delivering push to move to 4 day week. You’d earn the same but have a full day for life projects, flexibility and seeing family.

It is an extra £1,186 after tax - what is the increase in childcare fees and loss of any childcare benefits etc along with the loss of flexibility?

Option 1.

Option 1. Flexibility is everything with kids your age.

You’ll pay through the nose with taxes over £100k too.

Option 1 without a doubt

Option 1. I don’t no why you would consider option 2

Thanks, I agree it’s so hard to give up flexibility, childcare costs wont be much different as they will all be in school so it’s more wraparound care, but if I stay in my current job it’s less childcare by September as all in school, with new role cost will stay same as they are now with no reduction in September. The attraction of new role is obviously increase salary and it’s less than 15 mins away.

Does the new job offer opportunities for further promotion? Why can’t your DH do more?

Option 2.

The other parent will need to step up.

If the higher salary is career progression I would go with this. Climbing the ladder to the next step career wise here would be my focus.

I’d consider option 2. Child care costs are going down and with inflation you will be going into the over £100k tax bracket soon anyway and are nearly out of it with the new job. Career wise which is the better long term move?

You haven’t shared details of option 2. Is it a position that offers you more than 1 worldwide and career wise? Doesn’t sound like you are challenged or that interested in current job so if that is true I might go for option 2 if it will be better for you in the long run. Dropping kids at school isn’t a huge deal, that really isn’t a time when you spend quality time with them and as long as you have childcare that cbs make it work I’d probably go for it. Don’t hold yourself back just because you get flexibility (I did this for too long and it hurt my career plus I was not challenged by what I was doing)

Thanks, yes it things like sickness that makes me want to stay in current role! It is worth its weight in gold

Which job do you think will be more interesting?

I’m facing a similar ish situation (money not quite so big a jump but still considerable). But I think the new role will be loads harder. I’m deciding if that’s good hard or shag and hassle hard.

You will lose so much in tax it’s just not worth the drop in flexibility. Stick where you are.

Pointless given the tax rates. Flexibility is invaluable and zero is unacceptable in a role that’s suited to it. Stay where you are and continue the job hunt to find a role with comparable flexibility and a better salary.

Employers are realising now that if they reduce flexibility like this they’ll just be left with the dregs who can’t do better, so it doesn’t bode well either for the culture, quality of colleagues or work environment to have an employer with such an attitude.

If they are so inflexible then they’ll not react well if one of your children is sick and you need time off, for example.

The lack of flexibility speaks volumes about their attitude so I’d not touch them with a bargepole. Just keep looking.

Are the terms of the second job negotiable? Could they offer at least 1 then move to 2 days WFH a week?

Absolutely option 1, £90K is plenty and the flexibility is invaluable.

Also what about school holidays? Option 2 would be a nightmare juggling 3 kids in only a limited selection of holiday clubs that run for extended hours