Time or money?

[PoliteSquid]

I work in state sector education for context. I was a teacher for 20ish years and I left the classroom just after Covid.

My current role is very flexible, but low pay for the level of responsibility (£41k). I get 26 days annual leave and permanent WFH. No one checks what I’m up to as long as I am doing all the things I’m meant to do,

I have been offered (yesterday) a leadership job in a school. 40 mile round trip, full time but obviously with school holidays although my kids are 14 & 18 so no childcare required. Pay is £54k. There is zero chance of WFH for obvious reasons!

So, time or money? I have to decide today!

No way would I be taking that on. As I get older time is more important

And is £41 k low pay ? you don’t say what you are responsible for

How long would the journey take at the time you would be travelling?

Do you feel (as I did when my children got to teens) that you would like to revitalise your career and take on something more challenging, or are you thinking that you want to start winding down (this might depend a bit on your age)?

Also - you describe this as "time or money", but having school holidays off in Job 2 is also giving you extra time (although you might prefer to have less holiday but out of busy school holiday periods)

A specific curriculum area across 17 schools and am held to account for performance of them.

For me, it would depend how much you need the money - are things tight, or do you manage quite well on your current salary.

Also, I like go on holiday as much as possible (mostly cheap city breaks, with a couple of longer trips) , but never travel in the school holidays any more, now the kids are grown up and the costs are far higher during the holidays. So this would also sway my decision, but may not be so important to you.

Do you need the money?

We all know, we all need the time. Life is short.

Is money short too?

Do you need the money more than you need the time?

My god no that sounds awful 41k is a decent wage. Enjoy the time

What do you think of the role? Do you want it, would it be an interesting challenge? Sounds quie different from your current one.
Money-wise, how about travel cost?

I’d go for time, 41k might not be a lot for what you do but it’s still a decent wage. Although thinking about it, if it’s a term time only role then you’d have more time anyway? If so then that’s different

How much of the increased salary will be eaten up by tax and commuting costs. I’d do my sums very carefully because I doubt it’ll result in a significant increase in disposable income when you consider increased costs, you could end up losing time without gaining the money.

Surely not enough of a difference in salary to justify the dramatic changes to working conditions and increased pressure. For £80k+, maybe...?

This. It doesn’t sound as if you would end up with enough extra money to justify the lengthy commute, lack of flexibility and higher accountability.

Firstly I'd go on salary calculator and put in the 2 wages = by the time you take into account increased tax, NI, pension the difference between the two wages is more likely to be £10k than £13k. Then work out the cost of petrol for the commute for however many weeks of the year. At least then you're deciding between the exchange of time vs money you'll actually get. If your eldest is in/planning on going to uni next year I'd also double check if your household income increasing might impact the loans they get as well - if you're expected to make up the difference that might cancel out your pay increase.

Usually I would say time is always better - the difference here I suppose is that (even taking all the above into account), it is still quite a significant increase, and it sounds like your current job is quite stressful. If it was an 'easy' job I wouldn't change it for that much money.

Do the sums, factor in only being able to travel in school holidays (if travel is important to you).

I don’t think it would be worth it when it’s all down on paper.

I'd stay put... the extra few hundred per month (after you take out cost fuel of driving 200 miles+ a week....) wouldn't be worth the stress, time given up etc for me

couldn't you try asking for a payrise at your current role instead?

I wouldn’t because it sounds like far too much stress.

It depends if you need the money enough, it depends if you want more challenge in your life or want to step back a bit. Impossible to say without answering these.

Which role is more satisfying and enjoyable. Life is too short to be anything but happy in your role.

fig the money around that.

Is the new job term time only or annualised hours? Is the pension scheme better? Work all that out before you make a decision.

I would sit down and do the sums tbh. And factor in petrol because god knows how expensive that is going to be.

I would also say that you've applied for this job for a reason. You feel like you're underpaid for the responsibility you have. Sometimes a change is good for the soul.

In real terms that’s around a £7k net increase in salary (off the top of my head), when you take off fuel costs that’s much less. Is it worth it?

I’ve just googled and it costs about £1-£1.5k to drive 8k miles in the UK, not taking into account rising fuel costs. Then clothing, food costs etc, That increase is dwindling fast.

It sounds a bit like you're bored by your current job and would like the challenge of the new job - is that the case?

The extra you will earn here doesn't seem a great deal for the added responsibilities and expense.
If it can be a stepping stone to even better earning, then go for it.

I’d be staying put, sounds like you have the perfect job!
The pay increase isn’t worth the extra amount of hassle and stress you’d be letting yourself in for.
Schools have changed a lot since COVID and not for the better!

All things and expenses being equal: Time!