Downsizing Salary

[Hoofy]

Steve7777 said:

This is exactly the position I'm in apart from I'm a lot further from retirement. I just think if I got a worse paying but more enjoyable job I might end up getting fed up with it anyway but would have to do it for much longer. I find people who love their jobs generally haven't been doing them that long. Even fighter pilots and ski instructors get sick of it.

One way to determine whether you really love your job is by asking yourself if you'd do it on half your salary... or even FOC. Many of my previous jobs, if I were not paid, I would not do them even if there was an interesting or enjoyable aspect to them.

[spikeyhead]

I've gone from contracting, which meant working away from home, living in digs or a B&B through the week to pottering about at home. I'm still making a few pennies, more than enough to get by on but only about half of that from contracting. I'm far far happier than I was spending most evenings in a B&B in Basingstoke.

[Du1point8]

spikeyhead said:

I've gone from contracting, which meant working away from home, living in digs or a B&B through the week to pottering about at home. I'm still making a few pennies, more than enough to get by on but only about half of that from contracting. I'm far far happier than I was spending most evenings in a B&B in Basingstoke.

I have moved on from contracted as I got bored of the stress of jumping through hoops and playing the performing monkey getting the jobs and then working 12 hours a day when there.

So what do I do???

Took a pay cut (not massive) but enough to allow me to do a 9-5 job again and whilst I have some spare time I decide to set up a company.

So now Im juggling two jobs, spending holidays at trade shows and using spare time sorting out the deliveries and resellers.

However on the plus side for the last 2/3 days we have just got the product out there to the big resellers and just covered well into 4 figures profit per day.

So Im now that little bit closer to retiring from either the company (paying for a lacky) or taking the company on full time (not sure I should make the jump yet)...

18 months like this and its turning a profit now and Im a happy/tired bunny.

(plus not killed the OH as she is the business partner, so that is a bonus!!)

[spikeyhead]

Du1point8 said:

spikeyhead said:

I've gone from contracting, which meant working away from home, living in digs or a B&B through the week to pottering about at home. I'm still making a few pennies, more than enough to get by on but only about half of that from contracting. I'm far far happier than I was spending most evenings in a B&B in Basingstoke.

I have moved on from contracted as I got bored of the stress of jumping through hoops and playing the performing monkey getting the jobs and then working 12 hours a day when there.

The only time I've ever worked more than 8 hours a day was when I was being paid hourly, and I claimed for every hour.

[mike9009]

Just to update this thread. Monday this week I handed my notice in at my current firm. Managed to get the first role I applied for - suspect my wider experience in a less senior role was attractive. Salary suitably downsized - but also potential within the new company for some progression. Three months notice period being negotiated downwards.....

Will report back in six months to let you know how the new role is going with the smaller wage.

Thanks for all the advice....

Mike

[trickywoo]

Just my two cents but to have the best chance of a fulfilling work life balance you need to be your own boss.

Working for someone else is rarely the answer.

It won't necessarily be perfect (what is?) and there will be other stresses but I'm always surprised at the number of people unhappy in work who think the answer is to work a different job but still on the same basis of employment.

[pikeyboy]

mike9009 said:

Hi

I currently have a well paid job. It allows myself and family to have pretty much what we want/ need but I am not at all happy within the role or working for the company.

I am geographically (potentially!) constrained and there are not many jobs which will pay so well. But I would like to move on to pastures new.

Have others on PH moved from a well paid role into a lesser role which may have offered better job satisfaction/ quality of life? How did you find it? (We would not be on the breadline - but may not be able to afford as many weekends away, meals out, frivolous purchases etc.)


Mike

Done exactly this. excessive late notice travel, loads of unpaid overtime/travel time on weekends usual stuff that ruins your life. so I've kicked it into touch moved to a more local job on less money, taking into account travel to work I wont be much worse off every month though. Cant wait to leave and start the new job, seems my current employer aren't making things very easy for me and want to drag out my 90 day notice period to the death.

[andy-xr]

trickywoo said:

Just my two cents but to have the best chance of a fulfilling work life balance you need to be your own boss.

Working for someone else is rarely the answer.

It won't necessarily be perfect (what is?) and there will be other stresses but I'm always surprised at the number of people unhappy in work who think the answer is to work a different job but still on the same basis of employment.

I think that st working conditions are more the problem than working for someone else. I dont mean working in an abattoir or anything, but having people around you or being in an environment where it's soul destroying to come in every day.

Example - After working for bad bosses, I came to the conclusion that people dont leave companies, they leave managers. These are the people who can make life harder than it needs to be for everyone

I think you can still be your own boss while working for someone, or working at a company, given the right management style. If you're the sort who needs their arse wiping twice a day then this might not apply, but for most reasonable people, managers scaling back the scrutiny and letting people do their job and enjoy it can make things a whole lot better.

The problem is, people go frying pan -> fire because 'anything's gonna be better than this' when you've been worn down over a period of time.

I've missed warning signs before or ignored them because I needed a job. One boss asked me in an interview whether I was a religious person. Thought nothing of it at the time, I'm neither here nor there on religion, but that level of enquiry got worse while working there. Inappropriateness mainly.

I'd agree that working for myself would take that out of the equation, many people prefer the security of regular employment and havent the ability to lead a business - it's always a compromise.

In answer to the question, yes - I gave up a reasonable salary where I was travelling internationally reglarly to take less money and see my family more. That's more important to me than money and rising to the top, or doing better for myself. I think I've just been able to see it in time to be able to do something about it

[toon10]

I moved from a technical software development background to a managerial one and now I'm leaving that behind to pursue a consultant specialst role which is more about talking to the business and not managing people or developing software anymore. No matter what job I do, after a few years I know I will not feel satisfied or fulfilled in the role. If you're anything like me then the grass is always greener soon turns to routine and then eventually disatisfaction.

What I would say is that I'd be looking at whatever gives you a better quality of life rather than focusing on the actual role. A job is a job and pays the bills, it's all about time and stress. I moved from a good job which had a 45 minute commute in stop/start traffic and a standard working week of 47.5 hours + having to stay back. I was stressed and had no time to enjoy my house, family, friends and hobbies.

I moved to the same job for less money (although not that much less) but my commute is 3 miles and no traffic jams, I do a 37 hour week and rarely work any more than that. The job was the same, the money less but I am stress free and have lots of time to spend doing what I want and not making someone elses company money.

Just my thoughts and what worked for me. As it goes after my job move, I'm now on more money than I was and also had more deveopment opportunities.

[TheHighlander]

Not as serious as others on here but I took a £12k paycut from a job I was not happy at, I was on a excellent wage but it just didn't make me happy. To be honest I don't miss the wage difference as I'm home more, work alot less hours etc

My new role for a new company I started with 4 months ago couldn't be any better.

Job satisfaction is brilliant, I actually go to work happy and don't dread work anymore.

Changed my career aswell for this but it's been well worth it.

Got a full Xmas bonus of money and vouchers considering I didn't work the full year is excellent, this company seem to care about the staff.

[mike9009]

Thanks for the replies.

I finished at my last work place a week ago (after 15 year there) and have been at the new place for one week.

Everything seems great at the new company. A little worried after the first day, just left to it. But had some good and positive feedback today from the GM through a formal meeting.

I am probably very deep in the honeymoon period at the moment and the new 'lower' wage has not hit yet - but career wise it 'feels' good and right.

Mike

[robm3]

You'll adjust to the lower wage with no issues. I went from US$350K base to $150K base one year and managed just fine. Just seemed to do less family vacations and not do as many dinners out.
I seriously had little to show for the higher salary except stress, weight gain and unhappiness.

[okgo]

robm3 said:

You'll adjust to the lower wage with no issues. I went from US$350K base to $150K base one year and managed just fine. Just seemed to do less family vacations and not do as many dinners out.
I seriously had little to show for the higher salary except stress, weight gain and unhappiness.

That's not quite the same as halving a normal salary though

[Hoofy]

Surely, it's a normal PHer's salary??

[friggs]

I took a small pay drop a few years ago, I was unhappy with my current job, left on good terms but the company I went to was even worse, 9 months later I was back job hunting.

Managed to find a small company and had a pay raise which put me 10% more than what I dropped, but after 6 months that company folded. Now I'm in a job I absolutely love, been here 2 years and wouldn't swap it for the world, normal 9-5 but I do normally do an extra few hours. No dreams of leaving and can see myself being here a long time.

just because it doesn't work out initially doesn't mean it's not the right choice, I'm now earning 40% more than when I took a drop, not a massive wage but enough to pay for the cars, mortgage etc

[BoRED S2upid]

robm3 said:

You'll adjust to the lower wage with no issues. I went from US$350K base to $150K base one year and managed just fine. Just seemed to do less family vacations and not do as many dinners out.
I seriously had little to show for the higher salary except stress, weight gain and unhappiness.

PH first world problem right there.

OP work to live not live to work. You don't want to die early and rich having worked yourself into an early grave.

[mike9009]

Just to provide a further update on this thread having been in my 'new' role and lower salary for just over a year.

Work wise has been rewarding, lower stress and throws up the odd challenge which I enjoy. The honeymoon period lasted about six months and the role is now a bit more tedious. I must admit, on occasions I am a little bored - the challenges aren't as great and maybe I thrived on the stress a little bit before. As a result of the tedium, I am sticking my nose in other departments which is maybe not productive but just trying to observe issues in the company and assist. Unfortunately some employees don't like this 'assistance'. I am still learning new stuff and enjoy the working though. The company gave me a 10% pay rise this year - which has negated some of the ~25% drop I took for the new role. I perhaps need to speak to the GM about how I can be more productive in a structured manner to help the company.

Home wise has been great. The lower salary has meant camping holidays (instead of foreign jaunts), picnics (instead of dining out), no Sky, no cleaner (how middle class), more time with the kids, finding interesting free stuff to do locally (beer and vintage buses weekend meant free travel on vintage buses, steam train rides at a local engineering club, more cycling and walking.....). No new cars, some servicing now done at home which is good fun too! Don't miss anything we used to be able to do with the extra money - in fact we have freed up so much money that I am aiming to halve the mortgage term.

Thanks all for sharing your experiences - not so daunting after al1

Mike

Edited by mike9009 on Wednesday 16th March 23:13

[Hoofy]

Glad to hear things are better for you. Better for you mentally and physically!

Hoofy said:

Or to put it another way, I fking love Mondays!!

Nothing's changed, two years on.

I can still happily chat about work and dreams/plans with the business partner as if we were talking about a holiday.