Changing jobs for a pay cut?

[w00tman]

Just about to take a 60% pay cut due to mental health reasons (bullying - making my life hell) and I'm nervous, scared and excited all in one go!

Your health is more important, trust me.

[Ray Singh]

Thanks all. I have been desperatly trying to find a replacement job, but it seems difficult. I had one interview and was the shell of the man i used to be, the treatment at my current place has broken me.

I have asked my current employer to move me internally, and they have told me that they will condider this, although it may take months/years to find post.
I apply for internal jobs and am getting refused very early on, even though the job is very closly matched to the skill set i have.

A question for you clever PH'ers.

I am currently on £56k, if i take a post at £45k, this would equate to a £11k drop. But how does that pan out to monthly take home as the take on everything over £50k is 50%, is it not?

Thanks

[johnwilliams77]

Ray Singh said:

Thanks all. I have been desperatly trying to find a replacement job, but it seems difficult. I had one interview and was the shell of the man i used to be, the treatment at my current place has broken me.

I have asked my current employer to move me internally, and they have told me that they will condider this, although it may take months/years to find post.
I apply for internal jobs and am getting refused very early on, even though the job is very closly matched to the skill set i have.

A question for you clever PH'ers.

I am currently on £56k, if i take a post at £45k, this would equate to a £11k drop. But how does that pan out to monthly take home as the take on everything over £50k is 50%, is it not?

Thanks

Approx £500net drop PCM
Exact amount can be got from salary calculator site

[DanL]

Each £10k is broadly £600/month take home, I think - that's the ready reckoner I've always used in my head, anyway!

Quick and easy tool here:

http://www.moneysavingexpert.com/tax-calculator/

It doesn't take pension contributions, etc. into account, but it's good enough.

[johnwilliams77]

DanL said:

Each £10k is broadly £600/month take home, I think - that's the ready reckoner I've always used in my head, anyway!

Quick and easy tool here:

http://www.moneysavingexpert.com/tax-calculator/

It doesn't take pension contributions, etc. into account, but it's good enough.

It's closer to 500
http://www.thesalarycalculator.co.uk/salary.php

[Ray Singh]

Thanks - I wasnt expecting answers so quick!

Its really getting to me now - do i jump for such a lot of pay decrease and even that assumes i can find a job.
My daily work is just getting worse and worse, I now have a meadiator am receiving coucelling and am micro managed throughout the day. I cant bear to sit with my team as they are all a bunch of back stabbers and the new contract manager (ex-Vodafone) is a really nasty piece of work.

Each day is hell - i was up at 06:00 this morning panicking about tomorrow.

R

[Fermit The Krog and Sexy Sarah]

As others have suggested it's not always about the money. You spend too much of your life at work to not enjoy it. Sarah is a quality lead for a local college (assesses the assessors for Ofsted) and she loves her job. She does most of it (writing reports) at home, she has the best boss she could hope for, and time out on the road is meeting new people and seeing new places. It doesn't pay amazingly (£25K?) but with my earnings and our outgoings we get by just fine. The other day she clocked a job that with her experience and skill sets she could do stood on her head, but she knew she wouldn't enjoy it, the wage though was £47-£57K. We dismissed it as an idea in about 10 minutes flat.

[pastrana72]

I would take the pay cut and get your happier life back. It is seriously not worth all that extra stress for 10k.
Good luck.

[DanL]

johnwilliams77 said:

It's closer to 500
http://www.thesalarycalculator.co.uk/salary.php

No wonder the pay rises don't seem to add up!

OP - sounds like the culture of the current company isn't for you, and is quite toxic generally. You need to move.

[soad]

pastrana72 said:

I would take the pay cut and get your happier life back. It is seriously not worth all that extra stress for 10k.
Good luck.

[johnwilliams77]

Ray Singh said:

Thanks - I wasnt expecting answers so quick!

Its really getting to me now - do i jump for such a lot of pay decrease and even that assumes i can find a job.
My daily work is just getting worse and worse, I now have a meadiator am receiving coucelling and am micro managed throughout the day. I cant bear to sit with my team as they are all a bunch of back stabbers and the new contract manager (ex-Vodafone) is a really nasty piece of work.

Each day is hell - i was up at 06:00 this morning panicking about tomorrow.

R

Jeez
Move
No brainer

[DanL]

anonymous said:

[redacted]

That was my guess too, as top rate of tax is 40%, but it seems not. Where does the extra 10% come from, anyone know ?

[EV11NED]

OP, having been in a similar situation myself, I would say (as others have above) that your health and wellbeing are worth much more than £10-11k gross. At the time I was in a bad situation I would have paid £500 per month to be able to not be where I was and feel like I felt.

[EV11NED]

DanL said:

anonymous said:

[redacted]

That was my guess too, as top rate of tax is 40%, but it seems not. Where does the extra 10% come from, anyone know ?

Don't forget about NI

[DanL]

EV11NED said:

Don't forget about NI

Thought that was capped?

[moles]

Go out sick on long term leave screw the company over before you leave if they have treated you like st.

[Trabi601]

moles said:

Go out sick on long term leave screw the company over before you leave if they have treated you like st.

With under 12 months service, discretionary sick pay is likely to be minimal and may tip the business into a conversation about things 'not working out' and ultimately dismissal. (Remember, they don't really need much of a reason to let someone go with such short service behind them).

[Ray Singh]

Back on topic - Meeting with line manager (cow from hell) and Meadiator, tomorrow.

FFS

[ruggedscotty]

sounds like your hand may be forced.

if you can get the old job back go for it. this one aint going to last.

the banking industry these days really isnt where you want to be - things are going to get a lot worse. brexit and another referendum, seriously the banking industry is going to go down hill.

[Ray Singh]

I have been desperatly trying to find other jobs, but nothing. I am not sure if it is Brexit or similar scaring businesses, or my mind is telling me that I am genuinely crap at what i do.....The confidence has been knocked.