Pay cut

[Newt432]

Has anyone taken a large pay cut after changing roles and regretted it?

Thinking about stepping down from SLT but this would mean quite a reduction in pay (I’ve seen a job that seems perfect!)

If you can manage then I would say life's too short, go for it!

I stepped down from HOD to mainscale. It was the right decision at the time.

I went from SLT at a big London MAT to a teacher at an indie. It was the best decision. I love not having to do all the duties, sort stuff/complaints out, not having to be in meetings until 6 etc.

I skip out of the school whilst others are trotting off to meets with a spring in my step happy in the knowledge that my work-life balance is much better.

@MrsHamlet and @Staffdontblowitnow how much was the pay drop?

@winewolfhowls I can manage. Especially as I have a toddler and I just can’t sustain working at that level and having a decent work life balance.

I think it’s just a bit scary!

Approx £20k. Frightening at the time but my stress levels have fallen and the family are much happier

Mine was much less: £8k.
It was worth a lot more in stress relief and not being suicidal though.

I went from HoD on inner London pay scale to class teacher at a rural school (so losing my tlr and inner London pay perks). I have zero regrets. It was the best thing I did to save my mental health

Thinking of it in reverse, I have been asked several times to take on HoD role. I look at the extra money (has been about £6-7k I think) and considered what I would keep after tax etc, and decided it honestly isn’t worth it for me. I’m not trying to climb the greasy pole to get to the levels above that and when I see all the crap landed in HoDs at very short notice in my school, I just don’t think it’s worth it for me, in terms of effort and return ratio.

My personal view is, work out your necessary household income. If you’ve achieved it, no need to take in further responsibilities (unless they appeal to you for reasons beyond money) and if you have more than your necessary household income (to cover living and the amount of savings, pension etc you deem suitable) then consider how you can have an easier life.

If you’re part of a couple, you probably have more choices and can more easily turn down extra responsibility or give it up if it wearied you, or you can go part time if the household finances will bear it. It’s very liberating to have choices. Paying down or off your mortgage plays a big role in having these flexibilities.

Thank you to everyone for sharing.

I guess I am in a fortunate position to be able to have choices.
I enjoy working in education and enjoy teaching. I was more ambitious prior to become a mum but now my DC has shifted my perspective (as cliched as that sounds)

I guess I want a role close to home, in a school with a decent reputation not part of a MAT workhouse etc and actually the role I’ve seen fits that but it is a £15k paycut.

Also the markets a bit funny now with Covid and more jobs are being advertised now but I don’t want to miss this opportunity.

If I take a step back then am I taking a paycut and damaging my career?
Am I messing up my pension?
My priority is not work And be out of the house 14+ Hours a day with a commute, barely having time for DC and family.
If I want more pay I need the the senior role with all that brings and many of those that are paid well are in sometimes quite tough environments.

I’m waffling but trying to work through my thoughts! Objective views that don’t know me definitely help!

You have plenty of time to head into SLT again.

You will not get that time with your family again

Not having to spend an hour commuting was a bonus

I went from HT (2 form junior) back to being main scale CT.
Glad I did it.
Money wasn't an issue.

Financially these step-backs are often not as bad as you think. You pay less in tax and NI and into pension so the hit is often less than you think.
It is often easy to make a few spending savings and unless you are very close to the bone each month, most people can manage a cut in pay.

The fact you’ve done the management job before means it is on your CV and the door isn’t closed to going back to that kind of role in future. Prioritising lifestyle and peace of mind is good and no-one ever said on their death bed they wish they had worked harder in the workplace.

If your aim was to be a Head by a young age, then stepping back isn’t a good idea , but that aim aside, most other plans can fit with a bit of a step back back in teaching. Consider if you are working to live or living to work.

And here’s an idea that people often use when considering if they can afford to retire....simply try living on the smaller salary you would have for a couple of months and see what it’s like and if it’s manageable.

Re messing up your pension....if you have service in Final Salary before 2015, that part of your pension will be determined by amount of service and the best of either your final years salary before you retire, or the average of best 3 in last 10 years. Especially if this step-back is just for a few years, it won’t impact that part of your pension at all....and the McCkiyd judgement means lots of teachers will choose to have that final salary system until 2022 after the recent government rule to remedy age discrimination.

Your Career Average (earned since 2015 and will be the case for all after 2022) adds 1/57 of your salary each year to your pension. So you will be accruing less as your salary will be less. In reality, that’s likely to make a hundred or two hundred pounds difference to your yearly pension, for each year you do the lower paid role. But at the same time you will pay in a smaller percentage of salary and the absolute amount paid in will be smaller. As a teacher still earning a decent wage, you will still be growing a very decent defined benefit pension that is inflation proofed. What you are proposing is very different to the idea of leaving reaching altogether or taking a big career break.

This won’t ruin your pension.

Thank you @WombatChocolate for that info.

I am fortunate enough to be able to deal with a financial paycut and it really is a balance of lifestyle.

I am just shy of 40 and not a crazy young person wanting to be a HT and know I have many years ahead of me to go back in that direction should I wish to do so.

And a shorter commute is definitely a bonus.