Anyone gone from earning a very good salary to minimum wage?

[rememberitalltoowell]

Either through choice or redundancy or work/life balance after children?

I'm really struggling to find any role anywhere near my old salary that works with two young kids, and finding myself having pretty negative feelings of being a failure. We can pay our bills, so it's not a disaster, but I feel like my career has pretty much gone to shit since kids.

Interested to hear other people's experiences! How do I get away from getting all my self worth through work?

I worked part time, mornings only, when my DS was small, so went from decent salary to just squeaking by.

I still got job satisfaction, as I was in work everyday, but totally stalled re career progression until I went back full time.

I really enjoyed it, the mix was great for me. We were tight re money, but I knew it was only for a few years. I had to budget, but we weren't living in poverty, we had money to go swimming a couple of times a week etc. Christmas and holidays were more budget than before, but still lots of fun.

The career progression stalling was the real downside for me - it was frustrating as there are higher grade jobs that could be done on a part-time basis, but all required full-time for at least a year.

I'm a single parent, but a great option for couples is for both to go to a 4 day week, taken as two half days a week, so you only need childcare for one afternoon a week.

Thanks. My industry is very London centric so I feel like if I want something more local I need to start at the very bottom of the ladder again, which is a bit depressing.

I've done this, from senior HCP to working as a classroom assistant (school hours and term time only) when the kids were small.
I absolutely loved the role. I felt like I was earning , paying tax and NI, and making a positive contribution to society. I also learned loads about the SEN/ASD system, like sign language and PECS which has both benefitted me and informed my practice when I went back into healthcare.
There are many benefits to working that aren't paying related.

My industry isn't well paid and is getting decimated by AI... my old job was a bit of a unicorn job but I was made redundant and can't find anything even vaguely comparable in terms of salary.

Not the exact same scenario, but at one point I was earning £20,000 PA less than I had previously. I'd been at the same company for 8yrs, having worked my way up from starting as a temp to an associate director on £65,000 managing a large team. They'd had several restructures and my role became redundant. I felt absolutely gutted at the time, but it was a very stressful role and in the end was the best thing.

I returned to temp work which suited around multiple rounds of IVF but the pay was significantly less. Unfortunately, we don't have any children despite years of TTC. I did find it uncomfortable when I bumped into old colleagues including staff that I'd line managed, and their careers had progressed, but I was back where I'd been 10yrs previously.

I'm not back to my old pay, but have a far better work/life balance than I did back then which more than makes up for the deficit.

Yes, was on 30k then finally left because of childcare and became a sahm. Working mw now. Love my job but my choices and lifestyle have shrunk right down , I miss the freedom better money gave me. Everything has to be thought about and figured out

I stepped back hugely when we adopted kids. I was in a very senior role on a good salary but the job was way too demanding to be able to parent two traumatised kids. I took a role that was much less demanding and much less well
paid, but that I could do with my eyes shut. I did feel my career had stalled, and was bored at times but it gave me the space I needed. As the kids became less demanding I was able to do another relevant qualification which stood me in good stead when I was able to step back up the ladder.

If you took a less demanding role would that give you head space to develop your cv in some way if you did see a more suitable role come up?

My partner earns a decent but not ridiculous salary. Enough to pay the essential bills. But two young kids and life is expensive!

Not sure what my question is really... I don't think I have much of a choice but to accept a big pay cut. Guess I'm just after reassurance that the world keeps spinning! Currently beating myself up over past choices I've made.

Does lower paying automatically mean mw for you? I will say I enjoy my job more than the job I used to have, the only stress I ever have is childcare, I love the job itself. You just become one of those ‘if I wait x days I can get it cheaper/ I can’t justify paying that kind of money’ people😅 and eg I went away on a trip with friends last year that took a lot of saving for as opposed to the olden days where I’d just be a bit short sometimes. But that was pre children anyway so it’s all swings and roundabouts. I am keeping an eye out though. I’m not helping much but hope something good comes up for you

Jangan ragu main di Jo777

I was made redundant last year on a pretty high wage. I’ve enjoyed my career break. Fairly niche area so I’ve applied for a limited number of similar roles and no joy yet. We can manage but things are tighter than id like. I’ve also just applied for a tourism related job abroad which pays less than 15% of my old salary… clearly mid life crisis time.

The world keeps spinning indeed ! You take pride in your contribution to your children’s upbringing through hard work rather than just good luck

I have definitely 'settled' in terms of career.

I work FT and have done for the last 6 years (DC in Y6 and Y9). My workplace is extremely flexible which I appreciate more than a pay rise.

I could have gone for promotions but my DH has a demanding, high wage job so it helps that I do the majority of child stuff.

I think my scenario is extremely common.
From my experience when I look at my peers and friends, the women who got the BIG promotion before having DC and could afford a nanny or has a SAHP have carried on the same career trajectory. All other women either plateau or reduce hours /leave the workforce.

Wouldn't necessarily be minimum wage. My old salary was circa 55k, I hope I'd be able to get 30k ish. I guess it's just a bit of a dent to my ego! And I worry that I'm going to end up totally reliant on my partner financially.

Yes I got made redundant in the first lockdown. Had to take a job that was just about half the salary I had been on because I needed to work and jobs were slim pickings those days. Then had a child, went part time after Mat leave and salary halved again. Got made redundant from there also and now I’m earning more than I was in the original job, with potential to increase salary much more over the next year.
I can’t deny that there was a financial impact on me during that process, however things are much more stable now and will be even better when my child joins school and I don’t have to pay for private nursery fees anymore.
If you need an income, you may well have to take a job at a lower rate, but maybe select something that has a development path (either in that company, or the industry) so that in 2-3+ years your salary will potentially increase to more than you were most recently on. Sometimes starting on less with the right company is a good route in the long run… Ultimately when juggling a family & work, there will have to be some sacrifices along the way unfortunately.
Hope you find something suitable..

Me. I’ve gone from earning about 60k to minimum wage part time. I had to to accommodate a situation with my step children’s school runs. But in fact I absolutely love it! Love the job, the reduced stress and being at home more so a better work life balance. Miss having disposable income however.

Glad to know it all worked out for you! Is your DP very high earning or are you just having to cut back? Job satisfaction is so important!

Yes, i halved my salary due to having a breakdown. It took me 6 years to sort myself out and just recently I've got a new job, earning more than I ever have done! I'm so used to cutting my clothes it feels amazing having some spare money.

He earns pretty well and was by far the main earner so it wasn’t an option for him to cut back to sort out our family commitments. But we have also had to budget more carefully.
Im 45 so I am a bit concerned I would never be able to go back to what I call ‘proper’ work as by the time the steps are old enough that I don’t need to be at home I will be 53 and therefore considered past it.
thar said at this point I don’t want to do that anyway.
I thinking of retraining a bit or becoming a volunteer magistrate just to pad out my cv a bit.

Kind of but not the same scenario. I went through a horrid job and had to leave as things were pretty much as bad as they could get. Luckily I got a better paying job quickly, but it doesn’t have the same benefits and I’m worse off long term so it still makes me feel off-path

Well done you! It’s not easy to come back from
that. I applaud you

Yes but my finances were in order in the sense mortgage free etc
It all depends on your start point.
I went from high paying role to wfh freelance to sahm. Although money is a very delicate subject in the sense idk what someone's concept of high paying is.
Partner was in a high paying role, retired for a year and got fed up and went to a lower paid role where there is ZERO stress. ZERO. The amount of work is questionable vs his previous role where it was relentless. So questionable I wouldn't call it working, but hey.

The big but is our roles allowed us to independently of each other be mortgage free, paid into pensions etc basically become comfortable (although I had parents help too).

If you can pay your bills, secure your future etc it's the best thing we did. Our previous lifestyle was more high life but at the same time after kids and older age makes us want to chill. For me the hardest was first two years battling with having less than before but now we are very happy. Stress is minimal if any (usually health), no fucks given about what people think, future stable. A much happier lifestyle but only because we can afford the basics and still have luxuries that are important to us like private healthcare.
So even with financial security, my ego was a bit battered for a couple of years coming from high stress high paying to being a SAHM. Before anyone jumps on me - father of kids passed away so I quit work and focused on the kids and my parents helped etc but I was already very stable. Tried to freelance etc but I struggled and then ego etc.

I was a high earner pre kids (in excess of £100k), then had a few years as a SAHM, then returned to work earning £36k but half time (so £18k). This was my choice as we couldn't combine three kids with two long hours stressful jobs. I've worked my way up since then and I'm now 0.8FTE and earn somewhere between the two! I enjoy my job.

I was made redundant in Sept. I was on a great salary. I am really struggling to find any work at all, never mind in my field and/or similar salary. It’s gruelling.
I am a lone parent. Seeing things like “competitive salary of £24,000” and then requiring at least a degree and all manner of skills and experience is depressing. I cannot run my home and support my family on that.

Thank you. I am actually really proud of myself and the job I've got has been my dream so I feel blessed.