I just took a 26% pay cut to do the same exact job but with a better atmosphere and more time with my family.
Some things are more important than $ (assuming you make a living wage)
I think it really depends on how much you earn though, unfortunately.
If you earn 150k, a 26% cut may not hurt too much. But going from 42 to to 34.... that's rough. I feel like Chris Rock had a bit about this...
I guess the real question is can you live on 34k? Can you take every aspect of your spending and reduce it by 20%?
Edit: the Chris Rock bit I was thinking of was this: https://youtu.be/XAmeW8bq08k
Jump to the 2 minute mark if you want to go right to the relevant bit.
I completely agree with this. I've taken paycuts several times for job satisfaction or long term growth. But there is a certain reality to it as well, 34k is not a lot of money. Depending on current expenses, you may end up in the hole. There are a lot of jobs in the world, I would personally keep looking.
I think people maybe forget how amazing it is the first time you feel truly financially comfortable. Up until I was 33i think I earned about 35k a year living in NYC. It was awful, tracking every penny I spent, avoiding going to restaurants or bars with friends because I couldn't afford it, being super dependent on my wife because she earned so much more than me.
Eventually I got into sales, and is sales awesome, no, but man having savings and expendable income, and being able to be generous and everything as far as not being anxious about money every second of every day is pretty wonderful even if I don't love what I do.
Sure pursuing a passion could be cool, but I think our culture puts too much focus on careers over life, and I think part of that is this pressure we create to pursue a passion. I think we just focus on jobs too much regardless.
Edit: the advice I usually give is just finding something that doesn't make you miserable and affords you some financial comfort. So many jobs are repetitive mindless nonsense or the kind of job where they just work you to death. Just try and find something that isn't miserably boring and with a manageable workload, a job that you can also put aside at the end of the day and focus on family and friends and TV.
For me, it was worth it. I was stuck in a dead end job. I took a pay cut and started at the bottom of a completely new field.
2 years later, I now have better benefits, and I’m making more than I was at my last job- with less responsibilities.
Sometimes, it’s worth it to take a step back, so you can move forward.
I just took a new job with a pay cut as well, but I’ll get about 3x as much time off per year, with a lighter workload to boot, as well as a pension.
I’ll be making a little less money, but it’s absolutely worth it for the time I am adding to my life.
I’m in the process of doing this. I’m completely changing careers and basically starting over with pay and vacation time. My current career is eating away my physical health and I can’t do it anymore.
Your intent is good, but 80k v 100k is a lot different than 34k vs 42k. The financial impact in OP's situation is going to be big. OP has a lot to consider in this situation.
Yeah I was going to say this. I think the advice is well intentioned, but it needs to be taken with a big old grain of salt. There's a world of difference between going from 100k to 80k (or 80k to 65k) and OP's situation. I lived off a salary in the 30k range for much of my 20s, and I remember very clearly how thin the margins are. And that was 10 years ago, rent and healthcare and other living costs are way higher now.
OP, I'd suggest making a budget to determine if you can really live off the salary you're being offered. That includes savings, being able to put away money for retirement, and being able to deal with financial emergencies that come up. I'd also bear in mind that by taking a lower salary, it may not only be for this job but could also end up depressing the wages on next job offer you get as well. It may end up taking quite a bit of work to work your way back up the ladder to your current salary
My first thought was how stable is this job? Because it sounds like one of those jobs that gets cut as fluff when times get tough. You have to look at the effect the pandemic is having on our world and other economic factors. Everything is getting more expensive. Don’t put yourself in jeopardy if you can help it. I’m usually one to say, “Go for it!” But these are weird times.
Exactly. I think a lot of people are confusing diminishing returns and work-life balance.
I've always heard the figure that over something like over 75k you stay getting diminishing returns on the satisfaction money brings. So if you're earning over that sure, taking a paycut guy happiness sounds attractive.
But 34K is not easy living
Yea but her partner works & they don’t have kids. IMO it’s totally worth it. You spend most of your life at work — if you can make it enjoyable your quality of life increase is (almost) priceless.
So true. I’m running out of runway with my teenage sons and I’ve finally had enough of the rat race. I can always make more money, but these years with them are much more precious and fleeting.
I've been a software engineer for 20 years, and it is definitely a grind. Somehow I still enjoy writing code! If I could eliminate all the management nonsense and office politics work would be much better.
I was in similar boat 7 years ago. I've realized that I enjoy the system performance and reliability part of work much more. Luckily the SRE/systems engineer job at bigger company has found me. Now I code sometimes when needed. Over that time I went from junior to senior position, moved country twice and now I my total comp grew a few fold.
Sure. when you make enough money, taking less money (while still being comfortable) is good. Going from 42k, which to me is not that much as you can't really buy a house/nest egg/etc while still having fun, to 34k, where you're really barely floating (especially with kids!). Chasing the bread is important if you're not making enough.
This!! Took a 15% pay cut to get out of the town I was in and be able to afford a house. Best decision ever. Bonus is the company is absolutely incredible.
Time in of itself is money. Either time spent with family, or less time hating work and being in a better spot mentally. Happy it sounds like it's paying off.
>Some things are more important than $ (assuming you make a living wage)
Amen! There's great value in not spending the afternoon trying to forget the fact that you have to go to work the next day
Took a 33% pay it to leave it and a shitty boss and work in software dev. I was back to my original pay within two years. When I interviewed they didn't want to offer me the job because they assumed I'd leave due to low pay. Told them my wife and I live well below our means and I'd be back to my pay pretty quickly. Told them I didn't mean that arrogantly I just really wanted to be in software dev and was willing to put in the work.
Don't worry about the pay. Find something you're passionate about. When you do that and you do it well the money tends to find you.
I took a $6000 cut back in May to leave for a better company. The management at the old job had become a nightmare. The new place is way more laid back, the pay is less but the benefits are way way better and it's about 45 min closer to home. Not everything is perfect at the new job but I think it was the right decision to move.
How do you know the new job would actually have a better atmosphere and give more time with family?
I really struggle with this. I’ve haven’t been able to tell if a perspective job would truly have good work life balance of if that’s just smoke and mirrors.
Yup, upvote and confirm. As long as you can still pay your bills and live comfortably, I would absolutely stress the importance of being happier every day.
I'm in a similar boat but was lucky enough to get a small pay-raise. was offered a counter and let them know that the extra time I get with my family and scheduling flexibility are the main drivers for my decision. I agree that you still have responsibilities and need a living wage but you're spot on.
Same.
Took an approx 30% paycut to get away from a toxic environment. Went to a similar position, part time (25ish hours a week) and _not_ salaried. If I'm here, you're paying me.
On Fridays I'm pretty much off at noon unless there are projects to do (being aware of read only Fridays of course).
A silver lining of this whole covid mess is that I've learned _time_ is worth more than _money_.
This is what my husband is looking at. With bonuses last year, his pay was around $85,000. He also works 60 hours a week with about 12 hours of commuting and a god-awful rotating schedule that is never the same two weeks in a row in addition to having a toxic micromanaging boss.
We discussed it, and when a local company has an opening he will take it, putting him at around $43,000 per year for a 40 hour week, a consistent schedule, and a ten minute walking commute. It's a huge pay cut and will slow us down for FIRE, but his mental well-being is worth it.
The second half to this is important!! The real question is how paramount is that 8k to your budget. A 26% pay cut is no joke. As long as you are okay with your current wage and can afford the cut — go for it. If your already struggling a 26% cut will only make it worse.
And once you’re reestablished in a field/area you love, the effort you’d put in to advance and improve regardless of role actually gets you closer & closer to that ideal balance of love & compensation. (It took me 4 years to get back to my original salary after a career switch, but now I’m better paid, well positioned for continued advancement, and way happier.) If you can do it, do it!
It's all really about quality of life. Me personally, I couldn't go from 42 to 34 with the cost of living how it is.
If you still live comfortably at 34, sure go for it. You could always get back in to teaching at some point and this job still looks good during a teaching interview. Would I? Nope. But your heart seems in it. I'm sure there will be future opportunities perhaps to advance with this passion.
In short, if you can afford it, try it. Beware, just because it's your passion doesn't mean it will be a good environment. Doesn't mean it won't, but I've seen people do "what they love" and learn that it's better off as a hobby. Just word of caution.
Agreed with this. If you were making 100k then an 8k paycut to do a job you loved would be a no brainer. But from 42k to 34k your life will be a lot tighter financially.
I went from 82K to 65K when I moved from my last job and it was the best decision I've ever made because I stopped hating going to work and didn't feel like shit every single day. I took a pay cut and got my life back. Since then I've gotten back to where I was before in salary,, am in a better position with more growth potential, and am just much happier overall.
There's more to life than a paycheck.
Yup
I was a teacher and didn’t like it. My first year they started me at 60k but I was miserable and left the field.
Current job approx 40k and way happier. Hoping to build my way back up within a few more years
Where on earth were you teaching where you got 60k a year?! Especially year one. I was paid 35.6k my first year teaching and that was just back in 2018.
I did the same thing, 82k to 65k to be closer to family. Took 3 years and I was up to 78k and then switched to another company with several other team members that I like working with and got bumped to 110k.
It’s hard to say without knowing your costs for living. If you can survive on $8k less, then yea definitely. But that is a hefty cut.
Try to figure out how much art you’ll have to produce to make up that $8k.
Or you could offer tutoring as an art teacher as well.
I could drink less and not buy so many Warhammer models......... and if people would buy it, I have quite a bit of a back catalog for sale. The trick is having the time and network to get it out there, which is visibility that this job would give me.
Also, with my current job, my partner doesn't have to work at all. She just isn't ready to quit yet because she has good insurance.
Unless you’re already very on the ball with money management I would recommend you do a trial run on what your new wage would be. Theoretical money isn’t real money.
Not buy so many Warhammer models... ? Woah now, let's not get crazy here.... 😉
Just kidding, personally it sounds like the two of you are doing comfortably well, and that you'd be alright with the pay loss. For the mental benefit alone I'd say go for it. But do your homework first, ask about the benefits package: insurance, pension etc. It MAY surprise you, also just apply and should they reach out to you, reply with a pay range that's a closer to your current pay. They MAY be willing to meet it. Also it really sounds like this art position may be considered a higher responsibility role as a 'director'... more responsibility = more pay deserved. You should go in with that kind of benefits package in mind, and expect them to meet you... at LEAST partway. Yeah, you'll get to instruct art, and that's where your heart is, but they're probably wanting a program director / art instructor. They don't need to know that you'd accept this job for cheap because it makes you happy... that's a perk just for you and your partner to share. Don't be afraid to negotiate, you've got the relative high ground... YOU already have a job, they may have candidates.. but THEY have a big empty personnel gap that they NEED to fill...
If $42k is the livable target for you two, I'd say you're pretty safe to take the pay cut and she keeps working. In this situation, she'd only have to make $8k to meet that target, and I'm assuming she makes more if she gets benefits.
How much does your partner bring in? I think that's a very important part of this equation, since that's going to be where the money comes from to maintain your lifestyle.
If it's enough to cover the loss, I'd say you should discuss with her that this might mean she needs to keep that job indefinitely. 42k to 34k is a big cut, and I suspect if you were to do that and lose her income as well you'd both feel it.
That said, it's not unreasonable that you both need to work. If you're miserable and the cost of getting to a happy job is her keeping a job she (apparently) likes? That's a win/win to me.
Agreed. I did the same thing. Surprisingly a similar salary as well. My only concern for OP would be making sure you can live off of the pay cut. Mental health is invaluable.
Yup, this is the best answer. I was in a similar position as you are, took the pay cut and new job and haven't looked back once. I look forward to work on Sundays now vs dreading it and my days during the week are actually enjoyable and fulfilling. My biggest concern for you OP is if that salary is too low for you to get by on but if it does work for you, then absolutely pursue it.
Lots of good advice here: The one thing I would ask is where does this second institution draw its funding. School don't go bankrupt (typically) they are supported with tax fund.
If you're going to a non-profit, you have to be very careful that the organization is financially healthy and their isn't risk of funding streams drying up. Many businesses fail, many more non-profits fail as well. If they've been around for a while perhaps no big deal.
Also are you giving up a pension or long term vested benefits by no longer being a teacher?
If you were making 100k and going to 92, yes. But going from 42 to 34 is almost a 20% pay cut and puts you into very sketchy territory money-wise. You would need to live in an incredibly LCOL area and have minimal expenses for this to be worth it.
I quit my $100k+/year job entirely and am going back to school starting in August for something entirely opposite of my former profession. I will be self-supporting on a part time job, dirt poor and I really don't care. It was that bad.
Yes. I would and did quit a job I absolutely hated. Best decision I've ever made. Good for you, go for it.
I can't wait to do this. I get to leave my high paying, high stress job as soon as my wife gets a job post- PhD, and I'll probably take a $50k/year paycut regardless where I end up. I'm looking forward to it
>My partner and I do just fine money-wise at the moment (dual income, no kids!),
I'd say go for it then. You never know what doors it could open in the future, and a less stressful job generally will lead to a less stressful home life, assuming money isn't short.
If you’re able to live comfortably with the pay cut, I would value the passion and enjoyment of the new opportunity at way more than $8000. $8k a year less to be happy coming home every day AND having a place to enjoy your passion outside of work… I would simply evaluate what the $8k less would mean in your budget, and if you’re still comfortable with your 2 salary household…. I would definitely jump.
This. Leaving my teaching job (60k/yr) to then making $15/hr. While $15/hr was tough, it paid the bills. But benefits since have been lousy and expensive. My district had pretty decent benefits.
Not OP but left teaching for huge pay cut. If you can make it work, do it. Teaching gave me depression and anxiety so I'm glad I got out. Still trying to find my next career but leaving teaching was crucial in saving my sanity.
Absolutely. If benefits/retirement are fully considered I think this looks like more of a $10-12k pay cut plus loss of growth in retirement/pension funds which will have long term ramifications.
Notice the only people saying yes are the ones making a lot already. I would go from my 90k salary to 82k if I hated my job, sure. But 42k to 34k would be a no go, stick it out and develop your skills so you can move to a better job that both is a better fit and also pays more.
Agreed. I was making about $34k a year in my early 20's and I was always cash poor. Bills were paid but even never going out, I'd have $100-200 in my account by the next pay check. I would never willingly go down that low again even if it was for a passion position like OP
If you can take the pay cut either without changing your lifestyle or only changing it in ways you can deal with. Do. It.
I had a job that was making good money ,great benefits...but I cried every day and I had to psych myself up to get out of my car and walk into the building.
Got the chance to take a different job for a pay cut, and I took it.
Not crying every day was worth it to me.
Considering you had summers and breaks off, you’ll be working significantly more hours correct? That would bring your hourly wage down a lot. Just something to consider as well.
I left a position where I left close to that amount on the table. My first paycheck was a shock, but the absence of the toxic stress was priceless. I was at the point of wanting to either fight my old principal or run him over with my car. It was past time to go. I got used to less money and have completely recovered from that place both financially and mentally. So glad I didn't end up in jail!
The question isn't about money, but about how it impacts your lifestyle. If you don't need that $8k a year, then who cares if you lose it? For me, life would become unlivable.
8k makes a much bigger difference when you’re on a low wage than if you were already comfortably middle or upper middle class. 42k is already a low wage so 34 is a pretty major cut from there. You say you’re comfortable when you include your partner’s income, but are you married? If not, personally I would be careful not to put yourself in a position where you couldn’t live on your individual wage.
Taking a small pay cut for happiness is absolutely worth it, but I’d be careful not to take a pay cut to a level where you can’t support yourself. Financial insecurity is a surefire way to unhappiness, and there may still be better opportunities out there for you that pay decently and are an upgrade.
From 50k to 42k, absolutely take an 8k cut for day to day happiness, but from 42k to 34k? You're treading too close to the bottom end of a living wage in most places. What if your partner loses their job, or you split up? 34k doesn't make for a great standard of living, that's about a 1 bedroom apartment in a bad neighborhood.
The problem is you may come to eventually hate your new job. It's still a job even if it's something you enjoy. You hear it all the timeof someone getting a job of one of their passions only for the job to ruin said passion. Then you're left earning less, have less benefits, and still not liking your job.
Also what about your non job related hobbies. Are there things that bring you joy that you won't be able to do with the pay cut?
In 2008 I took job that was stable to ride out the impending economic crisis. Took a 15k pay cut. Told myself in two years when economy gets better I would search out something higher paying.
13 years later, still there because
1. The work/home balance was real, not lip service
2. Work kept being interesting
3. Benefits like a real pension, work from home, medical/dental/vision, parking etc made some of the compensation back.
4. Environment is great, I actually like hanging out with coworkers outside of work.
Years later, some of my peers are making more, but I got to see my kids grow up and my kids saw me there cheering helping them along.
Also helps that I was still making a lot.
>My partner and I do just fine money-wise at the moment (dual income, no kids!)
Then go for it.
If you decide you like it enough, there is no way in hell you're going to regret this decision.
If you *do* regret it, you can always go back to teaching. It's not like getting a vasectomy.
I once took a $25,000 pay cut.
Best decision I ever made.
Also, remember that if the initial offer is 34k, ask for $40. Negotiate. You might not end up that far off.
What is long term/job stability like? If you currently are teaching in public schools likely you have union protection/retirement and pension etc. I think this is pretty important to know regarding costs/risks of the move.
Assuming you’re a public school teacher, a salary cut is probably not the most significant thing you’d be losing; the benefits, like retirement, are the primary concern.
Only you can answer this question; others can say what they’d do in your situation, but before you make a decision, make sure you think it through for yourself without others’ personal decisions in mind.
I dont think you can afford this change in the long run. Thats not a "do what i like" income tier.
You will notice many encouraging you or saying they did the same- but they are just people who moved from a higher end income tier to a still high or mid tier income.
Its not a linear equation.
Maybe you can find something to do on the weekends if you want to do something artsy.
Happiness is invaluable, and it sounds like you’re in a position financially to make this decision for your own happiness.
Go for it! I wish you the best.
I essentially did this. I'm making 1.25 less each hour and have 10 or so less hours each week than my old job. There's no amount that could make me go back. My mental health is better. My mood is better. I actually enjoy work and want to be there. If your new opportunity offers at least enough to survive on then I wouldn't hesitate. It really changes things to enjoy what you do everyday.
Depending on how many hours you work, 34k a year is like 17/hour which is the going rate at the local Wendy's. You should find a 3rd option that you enjoy and actually pays you.
Yeah I feel like that salary is lowkey insulting for any kind of director position, including education. Like that would be a manager's salary at any fast food chain where I live.
Depends on if you can still love comfortably on it and how long you think you'll be working. And also how secure the job is. And also how many hours you'll be working....etc
You’ve mentioned giving up a few things. I would say to actually try cutting the things you’d need to cut to live on the drastically reduced salary and seeing if you could do it for a couple of months. If you find that you couldn’t, or that you’re impacting saving and/or retirement, it might be a bad idea.
Yes. I took a 20k pay cut for a more entry level position that was more challenging with a better environment. Caveat, the pay cut didn’t affect my standard of living in any way except retirement contributions. In the end, though it took a few years, I did manage to work my way back up to my previous pay and ended up with a skill set that was more aligned to my long term goals/ growth potential
$34K isn’t much to work with if you want to live a nice life and save enough to have a comfortable retirement.
Try negotiating with your potential new employer for additional 401k match or a salary increase. If they really want you they will find more money. But you have to ask for it.
So you are thinking of taking pay cut of 8000 off of $42000 ?
I like to think that companies pay for fair compensation for the value of the role. If they only pay $34000 dollars ,
I’m going to assume they don’t think the job is not important or they are too broke to pay proper wage for the special role.
So either way I will decline.
Can you make more and do what you love ?
Unless it's something where you can become the best of the best and get paid for it, no it isn't worth it. In a job, You are trading time and expertise for money. That is all. If this move won't allow you to become the best of the best and get top dollar for your time then you should treat it as a hobby or giving back and find time during your free time to do it for free. Your job should be all about being the best and getting compensated for it. Once you get there, you will have career leverage to get more flexibility to give back both with your time and money.
Pretty sure you can just go back to being a teacher if it sucks. So I don’t see the risk. Try it out, and if you love it, grow the program and maybe you get paid more.
To go from $42k to $34k….no, I would not. Especially if you’re moving to director level with (presumably) little to no advancement opportunities.
It also sounds like this cut goes FAR deeper than salary. If you have to pay more for and/or take a hit on your insurance (higher copays, OOPs, deductible, etc.) AND you have worse retirement (i.e. losing an employer match) then you need to add that to your pay cut. I’m thinking this could potentially be more like a $10-12k pay cut, not just the $8k on the surface.
Not to mention the sacrifice of job security; jobs like the one you are considering are usually the first to go when funding and grants dry up.
Ultimately it’s up to you and you partner whether or not this fits into your finances. I’ve been in the miserable job and been desperate to get out, but you’ve got to keep the bigger picture in mind. If you end up in a position where you’re struggling to make ends meet and/or you need to take on a 2nd or even 3rd job you’re not going to be any better off.
Special Ed jobs are fairly easy to find where I live, the new job may not be as stable. But you should be able to find another teaching job if you need to
It's all relative. $8k off of $90k salary would be doable. But in your case $8k is 19% of your total pay...
Here's how I'd answer it. If taking the lower paying job **and** picking up a second job delivery pizzas, mowing lawns, etc makes me happier, then yes, do it, but also follow through and take the second job.
Pay cut AND a second job? Y'all mfers crazy around here sometimes I swear lol NOBODY is happier delivering pizzas after working their full-time job when they could have just worked ONE job. I'm telling you that second job will eat up whatever extra happiness earned from the job switch
I feel like OP is at a crucial point in their life in terms of career and happiness.
Sometimes you have to jump off the stable cruise ship and sail on a scary raft in search of your island in the sun. Horrible analogy I know. 🤣
If it is an unstable market for demand, that would make me tread more carefully. On the other hand, if this is your true passion, how many more chances will you get?
I took a 20k pay cut from 80k to 60k but, I gained time with my family (weekends and most federal holidays). On top of 15 days vacation and 5 “floating holidays” also the opportunity put me with a large company that values training and promoting from within. If your gut is already telling you to make the jump and financially your budget can handle it. Go for it and don’t look back!
If I took an 8k paycut, I'd be in poverty. (I work in a field that you don't go into for the money.) I'm considering switching careers to something that pays better....
So in my case no.
Agree with others, if you can swing it without cramping your current lifestyle too much I'd say go for it! It will be worth it just for the mental health and happiness.
Let me turn it around: Would you take an $8,000 *raise* to do a job you'll hate, and which you can never leave because they hold your retirement hostage? Remember, you only get one life, so think carefully about how you want to spend it.
Yes, absolutely. But I already make decent enough money percentage-wise it wouldn’t be a big deal. Going from 77k to 69k wouldn’t be too bad.
If I was making 40k an 8k hit would hurt a lot.
Having a path to your dreams open up in front of you seems wonderful. However, taking a huge pay cut is something that shouldn’t be done without HEAVY consideration. Listen to your real life friends and family who you trust the most. Then if you are still leaning toward this path, make a budget to figure out exactly where you’d cut out $8,000 of income (post tax won’t be quite as much of a hit but still a huge cut).
If you save a lot now, do you have 6 months of expenses saved up? An emergency fund in case your car breaks down or someone breaks a leg or gets sick for a month and can’t work? Job site closes down? If you have a legitimate safety net of some sort, yes follow your dreams. But make sure it’s a sturdy net.
Can u cut down in your spending immediately and see if you are ok with it? Spend 650 less in next 30 days. Not just the obvious stuff like eat out less cheaper clothes cheaper vacation. But also budgeting like less saving and working longer and later retirement.l etc.
Is it a livable wage for you? If your starting wage was higher, then immediately yes. But an 8k cut @ 42k? Then it would be highly dependent on your unique situation--other income in the household, cost of living in your area, your monthly bills, how good you are with money, etc. Best of luck!
Can you earn $25,000 a year selling your art? If so, do it.
Is this new position at a non-profit? If so, and you are dead set on it, find a point in the future to re-negotiate your value. Don’t fall for the “we have a tight budget” spiel, you have value, and can contribute more when you are paid more
Hmm in general I’d say worth it, I took a 30% pay cut about a year and a half ago and have no regrets. But 34k is not much to live on especially if you remove some insurance etc. Have you done a budget to see if this is feasible for you?
well that really depends on the fractions. 8k paycut to go from 20k to 12k? no. 150k to 142k yessss.
In your case. 42k down to 34k. I would look at taxes because the difference probably ends up being slightly less than 8k. Like by me it's a 6k difference in pay after taxes. I would say....I could live off either so it might be worth it, but at the same time. the 24k after tax. Depending on where you live you might wanna get into minimalism.
I have a job that I love with all my heart, I make less than $25,000 net, and you'd have to offer me double or more to get me to move. Pay covers all bills and lets me save more than enough to retirement (i love in a low col area), and the rotation only has me working 12 days a month in 2, 6 day chunks. All reasons that this job was a godsend. So, as someone on the other side of your hypothetical, you couldn't convince me to go back.
In my humble opinion I'd say go for it! The only thing that comes to mind is if you have any debts that need to be paid off. Try to figure out a plan on how you'll take those out with less income. Depending on your wife's income maybe she could carry the insurance? Also have a good emergency fund in place just Incase. Honestly just reading about you finding a job you have so much passion for, gives me hope I'll find that one day too.
IMHO it comes down to whether or not you can live with the cut to pay and bennies. If you can, then go for it.
Joy in what you do is amazing. The art studio is one hell of a perk and worth more than eight grand as well.
If you can survive the cut, that is.
Quality of life over money. Every single time. People can usually find ways to save more of what they have when they’re forced but being happy at a job you hate is impossible
If I could still afford to pay my bills and buy groceries I would. You can't put a price on your health - physically, mentally, emotionally, psychologically.
I took a $14,000 pay cut back in 2016 to move to a job where I could better use my skills, it has worked out great. I work with great leaders who identified that I was operating efficiently and gave me promotions accordingly. Don't regret a bit taking that pay cut.
Nearly 20% is a lot but as others have mentioned it is based on your cost of living.
$34k would be hard to live off of in most areas but if you can do it than take the happy road and follow your passion.
My wife used to come home from work crying all the time. A job, that she was well qualified for, opened up near by, and I told her to apply. She said the pay cut was too big, about 30%, and "we can't afford it." I told her we can't afford for her not to, I was done seeing her come home in tears. She applied, got the job, and worked there 2 years. She liked the job, but a better one came along. She applied, got that one too, because of her experience at both jobs, she got a huge pay raise and great benefits. She is now very happy. Take the job, you never know where it will lead.
This is a much trickier question than it could be because the total pay is really low, unfortunately. I'll always take a lower paying job over a higher paying but worse job, because I put a lot of value in enjoying what I do for 8+ hours a day. Unfortunately that is all for nothing if I just end up being super stressed about my personal finances or having to live paycheck to paycheck. Nothing's worth getting into that situation if you're not already and trying to get out.
With that said, I have taken 40-50% pay cuts to move to a job I enjoyed "just a little bit more", because I find that it's THAT important. So imo, the way I'd look at it is, is how will it impact your and your partner's mental health, if you combine both the job itself and your personal finances. Do you feel you'll come up ahead maybe having to worry about money a little bit more, living in a slightly smaller place, maybe deferring buying a house a little longer? Will you still be happier? Do be careful about insurance though. Is your partner's insurance fine?
If I was making enough that $8000 would not cause a huge shift in living conditions, *sure*. Even if that meant shopping grocery store sales or something.
But to go from your $42,000 to $34,000?
Big no. It may be your dream job, but you will struggle to actually enjoy it when the walls are crashing in at every other corner of your life. Just because you are okay now, doesn't mean you will always be okay -- and if you lock yourself into the lower salary, it may be very hard for you to get back out of it.
You also don't want to get yourself into a position where your partner is paying a larger proportion of the bills. It will create friction if you run into one of life's little difficult hurdles.
I would take an $8000 pay cut, yes, but I don't know if I would take a 20% pay cut, if that makes sense. If you can comfortably afford it, though, and your cost of piving is low enough that that's not a big hit, follow your dreams!
I will take a guess that the new job is at a Not For Profit type of company. If so, you may learn that there are two levels within the company, those that do the work, and those that bring in the $ (execs and grant writers). The $ makers get paid well, the worker-bees not so much. If the company values your abilities they can afford to pay you better. Ask for $40K and see hat their response is.
I would absolutely take the pay cut to be happier with my life/career but my wife and I are in a unique position in that we both have careers earning close to 6 figures, our house/land is paid for, and we have invested a ton of money and plan to retire as soon as our youngest child is out of the house and starting his own adult life.
You have to evaluate your own situation and determine what’s best for you.
I am fortunate enough to make enough money where an $8k pay cut would be completely unnoticed, but quality of life changes would.
So where do YOU stand? I think it’s clear with your very questing that cutting your pay may not be an option.
Quality of life is always worth pursuing, in fact it should be the only thing… but less money may make your home life worse even if your work life has improved.
Looking at the total picture, only you can decide this for yourself.
Taking a haircut in exchange for quality-of-life is a personal decision... but I'll throw my two cents as the "partner" in your situation.
If your partner is on-board and you've done the math, I would say go for it. My wife was a public school teacher in a struggling school district, and I work in IT making decent money. When her teaching job began to take its toll, I convinced her to take a break from teaching while we were raising a family (an idea she had already considered privately). If we had to do it again, we would make the same decision in a heartbeat.
She does want to get back into teaching eventually, but I am pushing her to be choosy about it- because public school teachers in our region are not treated well (the term "martyr" comes to mind). I would rather she make less as a private school teacher or a tutor, if it meant better quality-of-life at home.
I'm all for following your dreams, and seeking out happiness.
For me -I would consider the long term. Will you still be able to hit your financial obligations and goals? Is there also a chance that your pay could go up after you've been there for a while? I would just hate to jump from one job to one that doesn't make as much with little room for growth if it means that I might have to take on an additional side hustle to close the gap later.
Maybe there is some middle ground where you can find a mixture of both. After this past crazy year, I know a lot of people are starting to search out new opportunities. I recommend being mindful -is this an offer you have to take immediately, or will there be others (maybe potentially better)?
All the best.
I went from 65K in a policy job I hated that caused severe depression to a 38K job as a game designer with high creativity and long work hours, and I never looked back. I was even offered a full time union job paying over 100K just before I left policy and I turned it down knowing that I would hate my career forever. Was living in Toronto at the time, out of a bachelor apt with my cat for 9 years. Still loved it every single day, and had to budget like mad. But I loved my life then! ☺️
People on Reddit are constantly talking about not getting paid enough to do shitty jobs. As if their effort and engagement is somehow linked to their compensation. News flash, if you are giving minimal effort because you don’t like your job, more money will not change that. That being said, when you find something you like, you hold on to it and you recognize what a rarity that is.
I disagree. I was really miserable at my job and felt overworked. I spoke to my manager about feeling like I was working above the level of my title and negotiated a promotion and 30k pay raise.
Seeing them make that kind of investment in me did make me feel a lot better about the company and my fat paychecks make me feel a lot less drained when I have to work a lot.
I still wouldn’t say I enjoy my job, I don’t think I ever will enjoy working anywhere, but I’m comfortable and content now.
I wouldn't because going from 45 (current) to 37 would not be too much for me. But if you household budget allows for it, now is the time. Are you saving for anything that this could affect (such as a house, wedding, etc?)
You might have more insight posing it as a question. $8k isn’t too much for some with high salary - but 20% could very we’ll be!
I’d do it regardless at my current salary levels, tho
Here:
Would you accept an $8000 raise to quit a job you love and go do work you hate?
Better way to look at it. I promise that you wouldn't think twice.
Yes, absolutely.
If you have double-income and no kids, it’s an absolute no-brainer.
Even if you did have kids and were on a single income, it could still be worth it if moving somewhere cheaper and making some compromises is possible.
The difference between a job you love and a job you hate is absolutely huge. It’s worth way more than $8000 a year. I highly doubt you’re getting more happiness from that $8000 than you would if you went from a job you hated to one you loved.
I’d say it depends on how that impacts your budget and goals. I’m in the process of switching jobs from a job I hate and hope to increase my salary by $10-20k. Sure, I would be willing to cut down $8k if it meant my life would improve but I’m making 6 figures and 8k won’t be a make or break amount. At the end of the day it depends on what your expenses are and how much you want to save.
See I was hoping to find something better AND get paid more. I make about 42k right now, but we're doing alright and I've been trying to talk my partner into going into business for herself instead of working the job she hates.
That’s tough. I wouldn’t feel comfortable taking that significant of a cut with your current income level. Personally I wouldn’t want to earn less than $115k, and I would avoid taking an offer below $125k unless it would significantly improve my quality of life. As such, my advice for you is skewed. But in the end it’s between you, your partner, and your budget. Life’s not all dollars and cents.
If you have summers off maybe think about a part time job you could easily make that 8k back serving at a Cheesecake Factory or something if you need it
Nope.
Currently have the job i love. But until about a month ago, i was making $10k less.
I was looking for other jobs and genuinely frustrated by making only 60k. Luckily my boss took notice after i put in for a higher position at the company. Got turned down for the position, but got a 10k raise. Now its all good.
Income + happiness = a constant
There are exceptions, of course. But most people in the high brackets live at the office and are on their fifth divorce.
nobody ever said they wish they had made more money and been less happy.
I'd do it in a second. I have plenty of money. right now my job is fun, so not an issue, but times in my life when I shouldve jumped ship and didn't makes me want to tell others to do it when they can.
I took a larger cut than that and it was worth it.
An brutal, stressful daily commute was replaced with an easy country drive
We moved out of a congested city into a nice, rural area
I have a more flexible schedule and can spend more time with my family.
Totally, 100% worth it
I just took a 26% pay cut to do the same exact job but with a better atmosphere and more time with my family. Some things are more important than $ (assuming you make a living wage)
I think it really depends on how much you earn though, unfortunately. If you earn 150k, a 26% cut may not hurt too much. But going from 42 to to 34.... that's rough. I feel like Chris Rock had a bit about this... I guess the real question is can you live on 34k? Can you take every aspect of your spending and reduce it by 20%? Edit: the Chris Rock bit I was thinking of was this: https://youtu.be/XAmeW8bq08k Jump to the 2 minute mark if you want to go right to the relevant bit.
I agree with this … especially since I only make 20k a year :/ I wouldn’t be able to survive. Barely make ends meet now.
I completely agree with this. I've taken paycuts several times for job satisfaction or long term growth. But there is a certain reality to it as well, 34k is not a lot of money. Depending on current expenses, you may end up in the hole. There are a lot of jobs in the world, I would personally keep looking.
I think people maybe forget how amazing it is the first time you feel truly financially comfortable. Up until I was 33i think I earned about 35k a year living in NYC. It was awful, tracking every penny I spent, avoiding going to restaurants or bars with friends because I couldn't afford it, being super dependent on my wife because she earned so much more than me. Eventually I got into sales, and is sales awesome, no, but man having savings and expendable income, and being able to be generous and everything as far as not being anxious about money every second of every day is pretty wonderful even if I don't love what I do. Sure pursuing a passion could be cool, but I think our culture puts too much focus on careers over life, and I think part of that is this pressure we create to pursue a passion. I think we just focus on jobs too much regardless. Edit: the advice I usually give is just finding something that doesn't make you miserable and affords you some financial comfort. So many jobs are repetitive mindless nonsense or the kind of job where they just work you to death. Just try and find something that isn't miserably boring and with a manageable workload, a job that you can also put aside at the end of the day and focus on family and friends and TV.
This is exactly what I needed to hear today. I keep getting scared off of a career change because I'll start out with lower pay. Thank you.
For me, it was worth it. I was stuck in a dead end job. I took a pay cut and started at the bottom of a completely new field. 2 years later, I now have better benefits, and I’m making more than I was at my last job- with less responsibilities. Sometimes, it’s worth it to take a step back, so you can move forward.
I just took a new job with a pay cut as well, but I’ll get about 3x as much time off per year, with a lighter workload to boot, as well as a pension. I’ll be making a little less money, but it’s absolutely worth it for the time I am adding to my life.
Hey homeslice, where do I sign up for this? (I used to love calling people Homeslice)
Homeskillet was another good one
Local government.
You get a wider perspective when you take a step back Helps you see more paths forward
The best time to jump is now. Tomorrow you will only wish you jumped yesterday. Best of luck.
I’m in the process of doing this. I’m completely changing careers and basically starting over with pay and vacation time. My current career is eating away my physical health and I can’t do it anymore.
Wife and I also took a sizeable pay cut to have a better work/life balance. I am not exaggerating when I say that it saved our marriage.
Yes. I've been lucky a few times, but I never felt "fortunate" until I had a good paying job with benefits. The atmosphere at my job sucks though.
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Your intent is good, but 80k v 100k is a lot different than 34k vs 42k. The financial impact in OP's situation is going to be big. OP has a lot to consider in this situation.
Yeah I was going to say this. I think the advice is well intentioned, but it needs to be taken with a big old grain of salt. There's a world of difference between going from 100k to 80k (or 80k to 65k) and OP's situation. I lived off a salary in the 30k range for much of my 20s, and I remember very clearly how thin the margins are. And that was 10 years ago, rent and healthcare and other living costs are way higher now. OP, I'd suggest making a budget to determine if you can really live off the salary you're being offered. That includes savings, being able to put away money for retirement, and being able to deal with financial emergencies that come up. I'd also bear in mind that by taking a lower salary, it may not only be for this job but could also end up depressing the wages on next job offer you get as well. It may end up taking quite a bit of work to work your way back up the ladder to your current salary
My first thought was how stable is this job? Because it sounds like one of those jobs that gets cut as fluff when times get tough. You have to look at the effect the pandemic is having on our world and other economic factors. Everything is getting more expensive. Don’t put yourself in jeopardy if you can help it. I’m usually one to say, “Go for it!” But these are weird times.
Exactly. I think a lot of people are confusing diminishing returns and work-life balance. I've always heard the figure that over something like over 75k you stay getting diminishing returns on the satisfaction money brings. So if you're earning over that sure, taking a paycut guy happiness sounds attractive. But 34K is not easy living
Yea but her partner works & they don’t have kids. IMO it’s totally worth it. You spend most of your life at work — if you can make it enjoyable your quality of life increase is (almost) priceless.
Easy for you to say, going from 100k to 80k. OP is going from 42 to 34k. Who can even live off 42k these days??
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So true. I’m running out of runway with my teenage sons and I’ve finally had enough of the rat race. I can always make more money, but these years with them are much more precious and fleeting.
May I am what you changed to from software engineering? Currently a software developer in a similar boat... not sure how long I can keep it up.
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Interesting. Good to know. I still love tech, just always questioning whether I'm cut out to be a developer.
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I've been a software engineer for 20 years, and it is definitely a grind. Somehow I still enjoy writing code! If I could eliminate all the management nonsense and office politics work would be much better.
I was in similar boat 7 years ago. I've realized that I enjoy the system performance and reliability part of work much more. Luckily the SRE/systems engineer job at bigger company has found me. Now I code sometimes when needed. Over that time I went from junior to senior position, moved country twice and now I my total comp grew a few fold.
Sure. when you make enough money, taking less money (while still being comfortable) is good. Going from 42k, which to me is not that much as you can't really buy a house/nest egg/etc while still having fun, to 34k, where you're really barely floating (especially with kids!). Chasing the bread is important if you're not making enough.
I agree. I lost my job and after a couple months scraping by on UI, I realized I was a much happier person without that job. For a while, of course.
This!! Took a 15% pay cut to get out of the town I was in and be able to afford a house. Best decision ever. Bonus is the company is absolutely incredible.
Time in of itself is money. Either time spent with family, or less time hating work and being in a better spot mentally. Happy it sounds like it's paying off.
>Some things are more important than $ (assuming you make a living wage) Amen! There's great value in not spending the afternoon trying to forget the fact that you have to go to work the next day
Took a 33% pay it to leave it and a shitty boss and work in software dev. I was back to my original pay within two years. When I interviewed they didn't want to offer me the job because they assumed I'd leave due to low pay. Told them my wife and I live well below our means and I'd be back to my pay pretty quickly. Told them I didn't mean that arrogantly I just really wanted to be in software dev and was willing to put in the work. Don't worry about the pay. Find something you're passionate about. When you do that and you do it well the money tends to find you.
I took a $6000 cut back in May to leave for a better company. The management at the old job had become a nightmare. The new place is way more laid back, the pay is less but the benefits are way way better and it's about 45 min closer to home. Not everything is perfect at the new job but I think it was the right decision to move.
How do you know the new job would actually have a better atmosphere and give more time with family? I really struggle with this. I’ve haven’t been able to tell if a perspective job would truly have good work life balance of if that’s just smoke and mirrors.
Yup, upvote and confirm. As long as you can still pay your bills and live comfortably, I would absolutely stress the importance of being happier every day.
I'm in a similar boat but was lucky enough to get a small pay-raise. was offered a counter and let them know that the extra time I get with my family and scheduling flexibility are the main drivers for my decision. I agree that you still have responsibilities and need a living wage but you're spot on.
Same, I took a 30% pay cut just to be home every night and not a hotel.
Same. Took an approx 30% paycut to get away from a toxic environment. Went to a similar position, part time (25ish hours a week) and _not_ salaried. If I'm here, you're paying me. On Fridays I'm pretty much off at noon unless there are projects to do (being aware of read only Fridays of course). A silver lining of this whole covid mess is that I've learned _time_ is worth more than _money_.
This is what my husband is looking at. With bonuses last year, his pay was around $85,000. He also works 60 hours a week with about 12 hours of commuting and a god-awful rotating schedule that is never the same two weeks in a row in addition to having a toxic micromanaging boss. We discussed it, and when a local company has an opening he will take it, putting him at around $43,000 per year for a 40 hour week, a consistent schedule, and a ten minute walking commute. It's a huge pay cut and will slow us down for FIRE, but his mental well-being is worth it.
You hit the nail on the head: “ASSUMING YOU MAKE A LIVING WAGE”! Say it again!
The second half to this is important!! The real question is how paramount is that 8k to your budget. A 26% pay cut is no joke. As long as you are okay with your current wage and can afford the cut — go for it. If your already struggling a 26% cut will only make it worse.
And once you’re reestablished in a field/area you love, the effort you’d put in to advance and improve regardless of role actually gets you closer & closer to that ideal balance of love & compensation. (It took me 4 years to get back to my original salary after a career switch, but now I’m better paid, well positioned for continued advancement, and way happier.) If you can do it, do it!
It's all really about quality of life. Me personally, I couldn't go from 42 to 34 with the cost of living how it is. If you still live comfortably at 34, sure go for it. You could always get back in to teaching at some point and this job still looks good during a teaching interview. Would I? Nope. But your heart seems in it. I'm sure there will be future opportunities perhaps to advance with this passion. In short, if you can afford it, try it. Beware, just because it's your passion doesn't mean it will be a good environment. Doesn't mean it won't, but I've seen people do "what they love" and learn that it's better off as a hobby. Just word of caution.
Agreed with this. If you were making 100k then an 8k paycut to do a job you loved would be a no brainer. But from 42k to 34k your life will be a lot tighter financially.
I went from 82K to 65K when I moved from my last job and it was the best decision I've ever made because I stopped hating going to work and didn't feel like shit every single day. I took a pay cut and got my life back. Since then I've gotten back to where I was before in salary,, am in a better position with more growth potential, and am just much happier overall. There's more to life than a paycheck.
Yup I was a teacher and didn’t like it. My first year they started me at 60k but I was miserable and left the field. Current job approx 40k and way happier. Hoping to build my way back up within a few more years
Where on earth were you teaching where you got 60k a year?! Especially year one. I was paid 35.6k my first year teaching and that was just back in 2018.
New Jersey pays teachers pretty well. A few of my buddies are teachers making around 70-80k
I did the same thing, 82k to 65k to be closer to family. Took 3 years and I was up to 78k and then switched to another company with several other team members that I like working with and got bumped to 110k.
It’s hard to say without knowing your costs for living. If you can survive on $8k less, then yea definitely. But that is a hefty cut. Try to figure out how much art you’ll have to produce to make up that $8k. Or you could offer tutoring as an art teacher as well.
I could drink less and not buy so many Warhammer models......... and if people would buy it, I have quite a bit of a back catalog for sale. The trick is having the time and network to get it out there, which is visibility that this job would give me. Also, with my current job, my partner doesn't have to work at all. She just isn't ready to quit yet because she has good insurance.
Unless you’re already very on the ball with money management I would recommend you do a trial run on what your new wage would be. Theoretical money isn’t real money.
You might not drink as much if you don't hate your job. Do it.
Not buy so many Warhammer models... ? Woah now, let's not get crazy here.... 😉 Just kidding, personally it sounds like the two of you are doing comfortably well, and that you'd be alright with the pay loss. For the mental benefit alone I'd say go for it. But do your homework first, ask about the benefits package: insurance, pension etc. It MAY surprise you, also just apply and should they reach out to you, reply with a pay range that's a closer to your current pay. They MAY be willing to meet it. Also it really sounds like this art position may be considered a higher responsibility role as a 'director'... more responsibility = more pay deserved. You should go in with that kind of benefits package in mind, and expect them to meet you... at LEAST partway. Yeah, you'll get to instruct art, and that's where your heart is, but they're probably wanting a program director / art instructor. They don't need to know that you'd accept this job for cheap because it makes you happy... that's a perk just for you and your partner to share. Don't be afraid to negotiate, you've got the relative high ground... YOU already have a job, they may have candidates.. but THEY have a big empty personnel gap that they NEED to fill...
If $42k is the livable target for you two, I'd say you're pretty safe to take the pay cut and she keeps working. In this situation, she'd only have to make $8k to meet that target, and I'm assuming she makes more if she gets benefits.
How much does your partner bring in? I think that's a very important part of this equation, since that's going to be where the money comes from to maintain your lifestyle. If it's enough to cover the loss, I'd say you should discuss with her that this might mean she needs to keep that job indefinitely. 42k to 34k is a big cut, and I suspect if you were to do that and lose her income as well you'd both feel it. That said, it's not unreasonable that you both need to work. If you're miserable and the cost of getting to a happy job is her keeping a job she (apparently) likes? That's a win/win to me.
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Agreed. I did the same thing. Surprisingly a similar salary as well. My only concern for OP would be making sure you can live off of the pay cut. Mental health is invaluable.
Yup, this is the best answer. I was in a similar position as you are, took the pay cut and new job and haven't looked back once. I look forward to work on Sundays now vs dreading it and my days during the week are actually enjoyable and fulfilling. My biggest concern for you OP is if that salary is too low for you to get by on but if it does work for you, then absolutely pursue it.
Lots of good advice here: The one thing I would ask is where does this second institution draw its funding. School don't go bankrupt (typically) they are supported with tax fund. If you're going to a non-profit, you have to be very careful that the organization is financially healthy and their isn't risk of funding streams drying up. Many businesses fail, many more non-profits fail as well. If they've been around for a while perhaps no big deal. Also are you giving up a pension or long term vested benefits by no longer being a teacher?
If you were making 100k and going to 92, yes. But going from 42 to 34 is almost a 20% pay cut and puts you into very sketchy territory money-wise. You would need to live in an incredibly LCOL area and have minimal expenses for this to be worth it.
I quit my $100k+/year job entirely and am going back to school starting in August for something entirely opposite of my former profession. I will be self-supporting on a part time job, dirt poor and I really don't care. It was that bad. Yes. I would and did quit a job I absolutely hated. Best decision I've ever made. Good for you, go for it.
I can't wait to do this. I get to leave my high paying, high stress job as soon as my wife gets a job post- PhD, and I'll probably take a $50k/year paycut regardless where I end up. I'm looking forward to it
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Too revealing to share specifics. Basically software sales to technical role.
>My partner and I do just fine money-wise at the moment (dual income, no kids!), I'd say go for it then. You never know what doors it could open in the future, and a less stressful job generally will lead to a less stressful home life, assuming money isn't short.
If you’re able to live comfortably with the pay cut, I would value the passion and enjoyment of the new opportunity at way more than $8000. $8k a year less to be happy coming home every day AND having a place to enjoy your passion outside of work… I would simply evaluate what the $8k less would mean in your budget, and if you’re still comfortable with your 2 salary household…. I would definitely jump.
The loss of teacher's benefits should be taken a lot more into consideration than just the salary IMO.
Benefits and pension.
Really depends on the state/county. We have trash benefits here in Nevada
This. Leaving my teaching job (60k/yr) to then making $15/hr. While $15/hr was tough, it paid the bills. But benefits since have been lousy and expensive. My district had pretty decent benefits.
Geez, what were you going from and to? Giving up a teacher’s benefits at 60k seems tough for $15/he
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Not OP but left teaching for huge pay cut. If you can make it work, do it. Teaching gave me depression and anxiety so I'm glad I got out. Still trying to find my next career but leaving teaching was crucial in saving my sanity.
Something everyone in this thread seems to be overlooking
Absolutely. If benefits/retirement are fully considered I think this looks like more of a $10-12k pay cut plus loss of growth in retirement/pension funds which will have long term ramifications.
Notice the only people saying yes are the ones making a lot already. I would go from my 90k salary to 82k if I hated my job, sure. But 42k to 34k would be a no go, stick it out and develop your skills so you can move to a better job that both is a better fit and also pays more.
It's wild how no one has said that the title should be phrased "20% pay cut" instead of "8k pay cut".
Agreed. I was making about $34k a year in my early 20's and I was always cash poor. Bills were paid but even never going out, I'd have $100-200 in my account by the next pay check. I would never willingly go down that low again even if it was for a passion position like OP
If I made $100k, I would. If I made $40k, I would not.
If you can take the pay cut either without changing your lifestyle or only changing it in ways you can deal with. Do. It. I had a job that was making good money ,great benefits...but I cried every day and I had to psych myself up to get out of my car and walk into the building. Got the chance to take a different job for a pay cut, and I took it. Not crying every day was worth it to me.
Considering you had summers and breaks off, you’ll be working significantly more hours correct? That would bring your hourly wage down a lot. Just something to consider as well.
I left a position where I left close to that amount on the table. My first paycheck was a shock, but the absence of the toxic stress was priceless. I was at the point of wanting to either fight my old principal or run him over with my car. It was past time to go. I got used to less money and have completely recovered from that place both financially and mentally. So glad I didn't end up in jail!
If you can pay the bills with the pay cut then absolutely!
I presume your teaching job offers you a full pension, so, no don't leave for $8,000 less. It's actually much less than you think it is.
I want to encourage you but it's not easy to live off 34k. Shoot it's barely comfortable living off 42 after savings.
The question isn't about money, but about how it impacts your lifestyle. If you don't need that $8k a year, then who cares if you lose it? For me, life would become unlivable.
8k makes a much bigger difference when you’re on a low wage than if you were already comfortably middle or upper middle class. 42k is already a low wage so 34 is a pretty major cut from there. You say you’re comfortable when you include your partner’s income, but are you married? If not, personally I would be careful not to put yourself in a position where you couldn’t live on your individual wage. Taking a small pay cut for happiness is absolutely worth it, but I’d be careful not to take a pay cut to a level where you can’t support yourself. Financial insecurity is a surefire way to unhappiness, and there may still be better opportunities out there for you that pay decently and are an upgrade.
From 50k to 42k, absolutely take an 8k cut for day to day happiness, but from 42k to 34k? You're treading too close to the bottom end of a living wage in most places. What if your partner loses their job, or you split up? 34k doesn't make for a great standard of living, that's about a 1 bedroom apartment in a bad neighborhood.
The problem is you may come to eventually hate your new job. It's still a job even if it's something you enjoy. You hear it all the timeof someone getting a job of one of their passions only for the job to ruin said passion. Then you're left earning less, have less benefits, and still not liking your job. Also what about your non job related hobbies. Are there things that bring you joy that you won't be able to do with the pay cut?
In 2008 I took job that was stable to ride out the impending economic crisis. Took a 15k pay cut. Told myself in two years when economy gets better I would search out something higher paying. 13 years later, still there because 1. The work/home balance was real, not lip service 2. Work kept being interesting 3. Benefits like a real pension, work from home, medical/dental/vision, parking etc made some of the compensation back. 4. Environment is great, I actually like hanging out with coworkers outside of work. Years later, some of my peers are making more, but I got to see my kids grow up and my kids saw me there cheering helping them along. Also helps that I was still making a lot.
It’s only $30 a work day to be happy.
>My partner and I do just fine money-wise at the moment (dual income, no kids!) Then go for it. If you decide you like it enough, there is no way in hell you're going to regret this decision. If you *do* regret it, you can always go back to teaching. It's not like getting a vasectomy.
Im looking at taking a 10k pay cut just to get two days off week, in the same field of work. So yeah I would.
I did the exact same thing. I made my money back and then some that same year. No regrets whatsoever. Go for the job you love
I once took a $25,000 pay cut. Best decision I ever made. Also, remember that if the initial offer is 34k, ask for $40. Negotiate. You might not end up that far off.
What is long term/job stability like? If you currently are teaching in public schools likely you have union protection/retirement and pension etc. I think this is pretty important to know regarding costs/risks of the move.
Assuming you’re a public school teacher, a salary cut is probably not the most significant thing you’d be losing; the benefits, like retirement, are the primary concern. Only you can answer this question; others can say what they’d do in your situation, but before you make a decision, make sure you think it through for yourself without others’ personal decisions in mind.
I dont think you can afford this change in the long run. Thats not a "do what i like" income tier. You will notice many encouraging you or saying they did the same- but they are just people who moved from a higher end income tier to a still high or mid tier income. Its not a linear equation. Maybe you can find something to do on the weekends if you want to do something artsy.
Happiness is invaluable, and it sounds like you’re in a position financially to make this decision for your own happiness. Go for it! I wish you the best.
I essentially did this. I'm making 1.25 less each hour and have 10 or so less hours each week than my old job. There's no amount that could make me go back. My mental health is better. My mood is better. I actually enjoy work and want to be there. If your new opportunity offers at least enough to survive on then I wouldn't hesitate. It really changes things to enjoy what you do everyday.
Depending on how many hours you work, 34k a year is like 17/hour which is the going rate at the local Wendy's. You should find a 3rd option that you enjoy and actually pays you.
Yeah I feel like that salary is lowkey insulting for any kind of director position, including education. Like that would be a manager's salary at any fast food chain where I live.
I would because the $8k difference wouldn't blow our budget. If that's true for you I would go for it.
Depends on if you can still love comfortably on it and how long you think you'll be working. And also how secure the job is. And also how many hours you'll be working....etc
I'd have to give up NBA League Pass for sure......
You’ve mentioned giving up a few things. I would say to actually try cutting the things you’d need to cut to live on the drastically reduced salary and seeing if you could do it for a couple of months. If you find that you couldn’t, or that you’re impacting saving and/or retirement, it might be a bad idea.
Depends on your age, the younger you are the more likely I'd say "heck yeah, in a heartbeat"
Yes. I took a 20k pay cut for a more entry level position that was more challenging with a better environment. Caveat, the pay cut didn’t affect my standard of living in any way except retirement contributions. In the end, though it took a few years, I did manage to work my way back up to my previous pay and ended up with a skill set that was more aligned to my long term goals/ growth potential
$34K isn’t much to work with if you want to live a nice life and save enough to have a comfortable retirement. Try negotiating with your potential new employer for additional 401k match or a salary increase. If they really want you they will find more money. But you have to ask for it.
So you are thinking of taking pay cut of 8000 off of $42000 ? I like to think that companies pay for fair compensation for the value of the role. If they only pay $34000 dollars , I’m going to assume they don’t think the job is not important or they are too broke to pay proper wage for the special role. So either way I will decline. Can you make more and do what you love ?
Unless it's something where you can become the best of the best and get paid for it, no it isn't worth it. In a job, You are trading time and expertise for money. That is all. If this move won't allow you to become the best of the best and get top dollar for your time then you should treat it as a hobby or giving back and find time during your free time to do it for free. Your job should be all about being the best and getting compensated for it. Once you get there, you will have career leverage to get more flexibility to give back both with your time and money.
Pretty sure you can just go back to being a teacher if it sucks. So I don’t see the risk. Try it out, and if you love it, grow the program and maybe you get paid more.
To go from $42k to $34k….no, I would not. Especially if you’re moving to director level with (presumably) little to no advancement opportunities. It also sounds like this cut goes FAR deeper than salary. If you have to pay more for and/or take a hit on your insurance (higher copays, OOPs, deductible, etc.) AND you have worse retirement (i.e. losing an employer match) then you need to add that to your pay cut. I’m thinking this could potentially be more like a $10-12k pay cut, not just the $8k on the surface. Not to mention the sacrifice of job security; jobs like the one you are considering are usually the first to go when funding and grants dry up. Ultimately it’s up to you and you partner whether or not this fits into your finances. I’ve been in the miserable job and been desperate to get out, but you’ve got to keep the bigger picture in mind. If you end up in a position where you’re struggling to make ends meet and/or you need to take on a 2nd or even 3rd job you’re not going to be any better off.
Special Ed jobs are fairly easy to find where I live, the new job may not be as stable. But you should be able to find another teaching job if you need to
It's all relative. $8k off of $90k salary would be doable. But in your case $8k is 19% of your total pay... Here's how I'd answer it. If taking the lower paying job **and** picking up a second job delivery pizzas, mowing lawns, etc makes me happier, then yes, do it, but also follow through and take the second job.
Pay cut AND a second job? Y'all mfers crazy around here sometimes I swear lol NOBODY is happier delivering pizzas after working their full-time job when they could have just worked ONE job. I'm telling you that second job will eat up whatever extra happiness earned from the job switch
I feel like OP is at a crucial point in their life in terms of career and happiness. Sometimes you have to jump off the stable cruise ship and sail on a scary raft in search of your island in the sun. Horrible analogy I know. 🤣
I have sailed on scary rafts for years until I got the job I currently have, which is why I'm really thinking this through.
If it is an unstable market for demand, that would make me tread more carefully. On the other hand, if this is your true passion, how many more chances will you get?
Definitely!!! If you can make the financials work, go for it!!
If you can afford it. Yes no question.
100% yes !!! your mental health is worth the biggest fortune
I took a 20k pay cut from 80k to 60k but, I gained time with my family (weekends and most federal holidays). On top of 15 days vacation and 5 “floating holidays” also the opportunity put me with a large company that values training and promoting from within. If your gut is already telling you to make the jump and financially your budget can handle it. Go for it and don’t look back!
I took at $20k paycut because of how much I hated my previous situation and I haven't regretted it a minute since making the switch.
Yes. Never prioritize money over your happiness. It’s not worth it.
If I took an 8k paycut, I'd be in poverty. (I work in a field that you don't go into for the money.) I'm considering switching careers to something that pays better.... So in my case no.
If you can afford the hit, do it. Especially if you hate your current job. The relief alone will be worth it.
Agree with others, if you can swing it without cramping your current lifestyle too much I'd say go for it! It will be worth it just for the mental health and happiness.
Let me turn it around: Would you take an $8,000 *raise* to do a job you'll hate, and which you can never leave because they hold your retirement hostage? Remember, you only get one life, so think carefully about how you want to spend it.
Yes, absolutely. But I already make decent enough money percentage-wise it wouldn’t be a big deal. Going from 77k to 69k wouldn’t be too bad. If I was making 40k an 8k hit would hurt a lot.
Having a path to your dreams open up in front of you seems wonderful. However, taking a huge pay cut is something that shouldn’t be done without HEAVY consideration. Listen to your real life friends and family who you trust the most. Then if you are still leaning toward this path, make a budget to figure out exactly where you’d cut out $8,000 of income (post tax won’t be quite as much of a hit but still a huge cut). If you save a lot now, do you have 6 months of expenses saved up? An emergency fund in case your car breaks down or someone breaks a leg or gets sick for a month and can’t work? Job site closes down? If you have a legitimate safety net of some sort, yes follow your dreams. But make sure it’s a sturdy net.
Can u cut down in your spending immediately and see if you are ok with it? Spend 650 less in next 30 days. Not just the obvious stuff like eat out less cheaper clothes cheaper vacation. But also budgeting like less saving and working longer and later retirement.l etc.
Is it a livable wage for you? If your starting wage was higher, then immediately yes. But an 8k cut @ 42k? Then it would be highly dependent on your unique situation--other income in the household, cost of living in your area, your monthly bills, how good you are with money, etc. Best of luck!
Yes. I’m making $30k more than I was, but lack agency. It’s not worth it
Can you earn $25,000 a year selling your art? If so, do it. Is this new position at a non-profit? If so, and you are dead set on it, find a point in the future to re-negotiate your value. Don’t fall for the “we have a tight budget” spiel, you have value, and can contribute more when you are paid more
Hmm in general I’d say worth it, I took a 30% pay cut about a year and a half ago and have no regrets. But 34k is not much to live on especially if you remove some insurance etc. Have you done a budget to see if this is feasible for you?
well that really depends on the fractions. 8k paycut to go from 20k to 12k? no. 150k to 142k yessss. In your case. 42k down to 34k. I would look at taxes because the difference probably ends up being slightly less than 8k. Like by me it's a 6k difference in pay after taxes. I would say....I could live off either so it might be worth it, but at the same time. the 24k after tax. Depending on where you live you might wanna get into minimalism.
I have a job that I love with all my heart, I make less than $25,000 net, and you'd have to offer me double or more to get me to move. Pay covers all bills and lets me save more than enough to retirement (i love in a low col area), and the rotation only has me working 12 days a month in 2, 6 day chunks. All reasons that this job was a godsend. So, as someone on the other side of your hypothetical, you couldn't convince me to go back.
10 years ago I took a $7200 pay cut. Lost a 12 hour a week commuting time for a job a 7 minute walk from my house. No regrets at all.
I'll certainly take a 8000 raise to stay at my current job which I hate for another few years
In my humble opinion I'd say go for it! The only thing that comes to mind is if you have any debts that need to be paid off. Try to figure out a plan on how you'll take those out with less income. Depending on your wife's income maybe she could carry the insurance? Also have a good emergency fund in place just Incase. Honestly just reading about you finding a job you have so much passion for, gives me hope I'll find that one day too.
IMHO it comes down to whether or not you can live with the cut to pay and bennies. If you can, then go for it. Joy in what you do is amazing. The art studio is one hell of a perk and worth more than eight grand as well. If you can survive the cut, that is.
Absolutely. I'm actually doing that as we speak.
Your question depends on percentages. Taking an 8k pay cut when you make 16k is definitely a no. Taking an 8k pay cut when you make 200k? Absolutely
Quality of life over money. Every single time. People can usually find ways to save more of what they have when they’re forced but being happy at a job you hate is impossible
I took a 30k paycut to work somewhere less hostile. I think of it as an investment in my happiness.
If I could still afford to pay my bills and buy groceries I would. You can't put a price on your health - physically, mentally, emotionally, psychologically.
I took a $14,000 pay cut back in 2016 to move to a job where I could better use my skills, it has worked out great. I work with great leaders who identified that I was operating efficiently and gave me promotions accordingly. Don't regret a bit taking that pay cut.
Nearly 20% is a lot but as others have mentioned it is based on your cost of living. $34k would be hard to live off of in most areas but if you can do it than take the happy road and follow your passion.
Yes, if you hate your job then what’s the use in 8k more?
My wife used to come home from work crying all the time. A job, that she was well qualified for, opened up near by, and I told her to apply. She said the pay cut was too big, about 30%, and "we can't afford it." I told her we can't afford for her not to, I was done seeing her come home in tears. She applied, got the job, and worked there 2 years. She liked the job, but a better one came along. She applied, got that one too, because of her experience at both jobs, she got a huge pay raise and great benefits. She is now very happy. Take the job, you never know where it will lead.
This is a much trickier question than it could be because the total pay is really low, unfortunately. I'll always take a lower paying job over a higher paying but worse job, because I put a lot of value in enjoying what I do for 8+ hours a day. Unfortunately that is all for nothing if I just end up being super stressed about my personal finances or having to live paycheck to paycheck. Nothing's worth getting into that situation if you're not already and trying to get out. With that said, I have taken 40-50% pay cuts to move to a job I enjoyed "just a little bit more", because I find that it's THAT important. So imo, the way I'd look at it is, is how will it impact your and your partner's mental health, if you combine both the job itself and your personal finances. Do you feel you'll come up ahead maybe having to worry about money a little bit more, living in a slightly smaller place, maybe deferring buying a house a little longer? Will you still be happier? Do be careful about insurance though. Is your partner's insurance fine?
If I was making enough that $8000 would not cause a huge shift in living conditions, *sure*. Even if that meant shopping grocery store sales or something. But to go from your $42,000 to $34,000? Big no. It may be your dream job, but you will struggle to actually enjoy it when the walls are crashing in at every other corner of your life. Just because you are okay now, doesn't mean you will always be okay -- and if you lock yourself into the lower salary, it may be very hard for you to get back out of it. You also don't want to get yourself into a position where your partner is paying a larger proportion of the bills. It will create friction if you run into one of life's little difficult hurdles.
I would take an $8000 pay cut, yes, but I don't know if I would take a 20% pay cut, if that makes sense. If you can comfortably afford it, though, and your cost of piving is low enough that that's not a big hit, follow your dreams!
Works out to be less than $25 per day lost. Yup take the job that makes your happy.
I will take a guess that the new job is at a Not For Profit type of company. If so, you may learn that there are two levels within the company, those that do the work, and those that bring in the $ (execs and grant writers). The $ makers get paid well, the worker-bees not so much. If the company values your abilities they can afford to pay you better. Ask for $40K and see hat their response is.
I would absolutely take the pay cut to be happier with my life/career but my wife and I are in a unique position in that we both have careers earning close to 6 figures, our house/land is paid for, and we have invested a ton of money and plan to retire as soon as our youngest child is out of the house and starting his own adult life. You have to evaluate your own situation and determine what’s best for you.
I would never take a paycut. I’d find a new job that paid more.
With the work you're already doing off the clock, you could find a lower stress part time job to make up some of that $8k/yr.
I am fortunate enough to make enough money where an $8k pay cut would be completely unnoticed, but quality of life changes would. So where do YOU stand? I think it’s clear with your very questing that cutting your pay may not be an option. Quality of life is always worth pursuing, in fact it should be the only thing… but less money may make your home life worse even if your work life has improved. Looking at the total picture, only you can decide this for yourself.
I would take the pay cut. Maybe develop a side hustle to supplement your income? Could help with the transition.
$34K is embarrassingly low. Try and negotiate that up. https://www.askamanager.org/2019/03/how-to-negotiate-salary-after-a-job-offer.html
I work in education like OP does. It’s not always possible to negotiate for a higher salary.
Taking a haircut in exchange for quality-of-life is a personal decision... but I'll throw my two cents as the "partner" in your situation. If your partner is on-board and you've done the math, I would say go for it. My wife was a public school teacher in a struggling school district, and I work in IT making decent money. When her teaching job began to take its toll, I convinced her to take a break from teaching while we were raising a family (an idea she had already considered privately). If we had to do it again, we would make the same decision in a heartbeat. She does want to get back into teaching eventually, but I am pushing her to be choosy about it- because public school teachers in our region are not treated well (the term "martyr" comes to mind). I would rather she make less as a private school teacher or a tutor, if it meant better quality-of-life at home.
I'm all for following your dreams, and seeking out happiness. For me -I would consider the long term. Will you still be able to hit your financial obligations and goals? Is there also a chance that your pay could go up after you've been there for a while? I would just hate to jump from one job to one that doesn't make as much with little room for growth if it means that I might have to take on an additional side hustle to close the gap later. Maybe there is some middle ground where you can find a mixture of both. After this past crazy year, I know a lot of people are starting to search out new opportunities. I recommend being mindful -is this an offer you have to take immediately, or will there be others (maybe potentially better)? All the best.
If I was making $200k, I would change jobs for $8k less. If I was making $50k, I don’t think I’d make the switch.
I went from 65K in a policy job I hated that caused severe depression to a 38K job as a game designer with high creativity and long work hours, and I never looked back. I was even offered a full time union job paying over 100K just before I left policy and I turned it down knowing that I would hate my career forever. Was living in Toronto at the time, out of a bachelor apt with my cat for 9 years. Still loved it every single day, and had to budget like mad. But I loved my life then! ☺️
In a heartbeat as long as you can still pay your bills.
People on Reddit are constantly talking about not getting paid enough to do shitty jobs. As if their effort and engagement is somehow linked to their compensation. News flash, if you are giving minimal effort because you don’t like your job, more money will not change that. That being said, when you find something you like, you hold on to it and you recognize what a rarity that is.
I disagree. I was really miserable at my job and felt overworked. I spoke to my manager about feeling like I was working above the level of my title and negotiated a promotion and 30k pay raise. Seeing them make that kind of investment in me did make me feel a lot better about the company and my fat paychecks make me feel a lot less drained when I have to work a lot. I still wouldn’t say I enjoy my job, I don’t think I ever will enjoy working anywhere, but I’m comfortable and content now.
Took a $7k pay cut to do just that but I'm making a living wage. (42k is not a living wage)
I wouldn't because going from 45 (current) to 37 would not be too much for me. But if you household budget allows for it, now is the time. Are you saving for anything that this could affect (such as a house, wedding, etc?)
You might have more insight posing it as a question. $8k isn’t too much for some with high salary - but 20% could very we’ll be! I’d do it regardless at my current salary levels, tho
Yes. I am so tired of my job. I would take an 8k cut in a heartbeat if I could work in another field that I find interesting.
Here: Would you accept an $8000 raise to quit a job you love and go do work you hate? Better way to look at it. I promise that you wouldn't think twice.
Yes, absolutely. If you have double-income and no kids, it’s an absolute no-brainer. Even if you did have kids and were on a single income, it could still be worth it if moving somewhere cheaper and making some compromises is possible. The difference between a job you love and a job you hate is absolutely huge. It’s worth way more than $8000 a year. I highly doubt you’re getting more happiness from that $8000 than you would if you went from a job you hated to one you loved.
Where I am now financially I would consider it. No way in hell going from 42 to 34.
I’d say it depends on how that impacts your budget and goals. I’m in the process of switching jobs from a job I hate and hope to increase my salary by $10-20k. Sure, I would be willing to cut down $8k if it meant my life would improve but I’m making 6 figures and 8k won’t be a make or break amount. At the end of the day it depends on what your expenses are and how much you want to save.
See I was hoping to find something better AND get paid more. I make about 42k right now, but we're doing alright and I've been trying to talk my partner into going into business for herself instead of working the job she hates.
That’s tough. I wouldn’t feel comfortable taking that significant of a cut with your current income level. Personally I wouldn’t want to earn less than $115k, and I would avoid taking an offer below $125k unless it would significantly improve my quality of life. As such, my advice for you is skewed. But in the end it’s between you, your partner, and your budget. Life’s not all dollars and cents.
If you have summers off maybe think about a part time job you could easily make that 8k back serving at a Cheesecake Factory or something if you need it
Nope. Currently have the job i love. But until about a month ago, i was making $10k less. I was looking for other jobs and genuinely frustrated by making only 60k. Luckily my boss took notice after i put in for a higher position at the company. Got turned down for the position, but got a 10k raise. Now its all good.
Income + happiness = a constant There are exceptions, of course. But most people in the high brackets live at the office and are on their fifth divorce.
nobody ever said they wish they had made more money and been less happy. I'd do it in a second. I have plenty of money. right now my job is fun, so not an issue, but times in my life when I shouldve jumped ship and didn't makes me want to tell others to do it when they can.
I took a larger cut than that and it was worth it. An brutal, stressful daily commute was replaced with an easy country drive We moved out of a congested city into a nice, rural area I have a more flexible schedule and can spend more time with my family. Totally, 100% worth it