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Relationships

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Original poster

Does DH go for his dream job and take huge pay cut?

31 replies

Wurzelrubbish · 18/05/2011 12:24

We don't have a huge income. We can pay all bills etc and have one holiday a yr. We have 3 DC and can afford things like dancing and swimming lessons for them and the occasional treat, so we're not totally strapped.

At the moment DH works 2 jobs part time. One is his dream job, but now he has been offered the chance to do that job for another company full time. It would mean taking a 4K a yr pay cut and I just don't think he can.

I am so worried that the interest rates could go up, adding more on our mortgage etc and we could end up in real trouble. I work 2 days a wk, but really can't take on anymore as 2 of our DC are tiny, and our DD is at school but has SN and has a lot of appointments and requires a lot of care.

DH keeps saying he won't bother, but I know its what he has always desperately wanted.I know he is waiting for me to tell him to take it but I just don't know what to do

OP posts:

carlywurly · 18/05/2011 12:29

Ok, this might sound harsh and overly cautious, but I don't think he should take it. He's already doing it part time, so being fulfilled to some extent. Unless the other company could up the salary being offered, I don't think it's a viable option.

It sounds like the cost to you and the family of him taking it is loss of holidays, extras and general financial security and also the massive effect on your peace of mind. It's too high a price to pay in this financial climate imo.

MollysChamber · 18/05/2011 12:33

What curly said.

Original poster

Wurzelrubbish · 18/05/2011 12:37

Thats what I'm thinking too, but I just know how miserable he will be, especially as he's been headhunted for this.
I also know that he is so lovely that he will never, ever throw it back in my face, or make it known that he is unhappy, but I know he will be IYSWIM.

OP posts:

Grevling · 18/05/2011 12:39

What % is the pay cut?

If its a 80k job going to 76k then your being unreasonable if its a 14k job going to 10k then not.

What about if he was to take the job but had to find a way of making the extra £4k - has he asked for more money of the new firm at least half way?

DelGirl · 18/05/2011 12:39

If he was headhunted then I would suggest he asks for his salary to be equalled and say that he can't afford to drop that much. He has nothing to lose surely? Good luck

Cocoflower · 18/05/2011 12:42

Hang on in there... dont make a decision yet.

He has been headhunted- that leaves him in an excellent position to negoitate. I would try the "thats an excellent starting offer" approach and see if they can increase his package first.

TimeWasting · 18/05/2011 12:43

Is there chance of promotion/payrise at some point with the dream job?

Are you in any debt apart from mortgage?

Losing holidays for a dream job sounds a good deal to me.

socka · 18/05/2011 12:43

Could the dream job lead any further, promotions etc? Is it closer meaning less of a commute? It wouldn't be a whole 4k reduction as he'd pay less tax so you could go over your budget and see what you could afford. Any chance he could haggle on salary, they obviously want him. Have you got a fixed rate mortgage? Sorry lot of questions!

VivaLeBeaver · 18/05/2011 12:43

Yes, definetly negotiate.

Original poster

Wurzelrubbish · 18/05/2011 12:44

Its 25K down to 21K. He's mentioned to the new company that its poorly paid and they seemed suprised. He's meeting them next week again so will see if they have changed it at all. But I'm doubtful

OP posts:

HerHissyness · 18/05/2011 12:44

I'd tell him to go for it AS LONG AS THE JOB MATCHES HIS CURRENT EARNINGS. He needs to negotiate

Original poster

Wurzelrubbish · 18/05/2011 12:47

We only owe on the mortgage, and its variable ATM so with the rates so low our payments are not that huge. We only run one car, and juggle it- he busses to work on the days I work as I need car.

Thanks for the advice re negotiating though. We've never dealt with anything like this before so its all new.

OP posts:

Cocoflower · 18/05/2011 12:50

Don't be doubtful-he was headhunted thats an excellent, excellent leverage point.

See this is a great challenge and an exciting time and start looking into negotiating techniques or post for advice

TimeWasting · 18/05/2011 12:50

What's your mortgage per month?

MovingAndScared · 18/05/2011 13:13

I do think you have to go in and say, I would love to do it -BUT means a pay cut and I have these family circumstance etc - and see what they come up with - also worth finding out what the scope for pay increases in the role - /promotion opportunities are in the future -

RunforFun · 18/05/2011 13:19

I agree with the others.

Dont dismiss it just yet. Go with the flow, meet the employers get a feel of the job etc etc make them really want you/him.

Then turn round and negotiate for more money.

If he's the right man for the job they will offer more.

PfftTheMagicDragon · 18/05/2011 13:19

It is perfectly reasonable to haggle a salary, particularly if he is already being paid a certain amount pro-rata for the same job.

HE should tell them he would love the job, but they need to pay him more. He needs to sound confident and believe he is worth it.

DaisySteiner · 18/05/2011 13:28

Do you get tax credits? If you get anything above the family amount (ie 545 pounds a year) then you should find that if his income drops, you get more in tax credits (41p for every pound of income). When you add on the tax and national insurance at 20% and 11% respectively that you wouldn't be paying on the 4K you've lost, your income would only be 1120 a year less. Check out the tax credits calculator and check whether you'd get more if he earned less.

IloveJudgeJudy · 18/05/2011 13:50

I would say let him go to see what they are actually offering. Tell them that he can't afford a paycut like that. My DH has had to take a 25% paycut in about the amounts you are talking about and it's been horrendous. don't underestimate how awful not having quite enough money can be.

OTOH DH did once have a good paying job that practically ran his life. He hated it. I don't regret him resigning that job as the job he then got was pretty well paid and he was a much, much happier person.

FabbyChic · 18/05/2011 14:00

You will get more help with child tax credit and working tax credits when you take a wage drop.

Also one of his jobs will currently be taxing him basic rate tax, as he will only work for one company that will change. 4k in real terms isn't that great a loss and he will be doing something he really likes. In real terms it equates to around £60 a week, go on the government website and check to see how this will affect your working tax credits which should rise a bit.

Take a cheaper holiday!

HerHissyness · 18/05/2011 14:39

You could always split the difference for the interim and ask for £23k and then on completion of a satisfactory 6m, they can increase that to £25k but with no rises then for a year.

It's a start.... The agency are used to haggling, and don't forget, the more salary they score for your H, the more they get paid, so it's in their best interest too!

lookingfoxy · 18/05/2011 14:54

I would check if your tax credits would go up, you can go to www.turn2us.org.uk/benefits_search.aspx there to check, then see if you will be able to manage.

lookingfoxy · 18/05/2011 14:54

www.turn2us.org.uk/benefits_search.aspx

MumblingRagDoll · 18/05/2011 14:57

I would always encourage anyone I loved to do what makes them happy....you can cut back and the DC wont' be tiny for long.

Eurostar · 18/05/2011 20:42

If you can't negotiate a higher salary, Sit down and do a budget together, not necessarily including 100% of the change of WTC/CTC as these may be reduced at some point, so that it's a joint thing looking at it you can afford life with this cut. You are right to presume that interest rates will rise. You could think about fixing now for 5 years so that you may be paying more for now but you will be protected from surprise rises, hopefully in 5 years he will have had some salary rise.

If it's livable, I would encourage him to do what makes him happy.

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