Taking a pay cut with a new job - anyone made it work?
Discussion
I'm currently very unhappy at work and have been searching for something else. I managed to find another local job and have a second interview on Wednesday. Taking the job (if I'm successful with the interview) will mean a 20% pay cut though.
I've done the numbers and we can still live on the reduced rate. Things will also be easier when my fiancee returns to work soon (daughter 3 in August so we'll get some childcare paid for).
Has anyone taken a pay cut like this and made it work?
The new role is interesting and the company is a small but growing business. I think they have about 11 employees. My current role is with an international organisation, so I'm just a number in a large office.
Thanks.
I've done the numbers and we can still live on the reduced rate. Things will also be easier when my fiancee returns to work soon (daughter 3 in August so we'll get some childcare paid for).
Has anyone taken a pay cut like this and made it work?
The new role is interesting and the company is a small but growing business. I think they have about 11 employees. My current role is with an international organisation, so I'm just a number in a large office.
Thanks.
Thanks both.
Have some more questions to ask at the second interview tomorrow just to gauge things. The first interview on Friday was a bit of a whirlwind, and it was at 6pm.
The team I'll be potentially joining is only a month old. So we'll all be in the same boat.
Will see what tomorrow brings. I may not get it yet. I'd rather be in a job where I'm busy and valued. Not like the current role which is quite bizarre.
Have some more questions to ask at the second interview tomorrow just to gauge things. The first interview on Friday was a bit of a whirlwind, and it was at 6pm.
The team I'll be potentially joining is only a month old. So we'll all be in the same boat.
Will see what tomorrow brings. I may not get it yet. I'd rather be in a job where I'm busy and valued. Not like the current role which is quite bizarre.
Mrs ZS did this a couple of years ago, although not quite such a big drop. The job she was in required too many hours and put her under too much stress, and as she was studying at the time just didn't have time in the evenings so was falling behind. Moved jobs to something less demanding which gave her the time she needed in the evenings to complete her studies, and now she's earning considerably more 
There are other things to take into account, such as commuting distance, opportunities for promotion, etc. When Mrs ZS moved it allowed us to car share much of the time which was a big bonus and helped offset the lower income.
Ultimately if you do the sums and can afford it, even if it means a few sacrifices it is ultimately worth it. You spend a large part of your life at work, so you want to be happy.
There are other things to take into account, such as commuting distance, opportunities for promotion, etc. When Mrs ZS moved it allowed us to car share much of the time which was a big bonus and helped offset the lower income.
Ultimately if you do the sums and can afford it, even if it means a few sacrifices it is ultimately worth it. You spend a large part of your life at work, so you want to be happy.
Indeed. The only real sacrifice I can see is the pay. The distance is a slightly further walk (20 minutes instead of the current 5). I still won't need a car.
The hours should be pretty similar. I think the new job requires you to put the time in when needed. However, my current job demands that so that isn't different.
Everything about the new job just seems better. The training, the team and the setup. I need to check this, but I don't think I'll be on call with the new job. That will be a major bonus.
The hours should be pretty similar. I think the new job requires you to put the time in when needed. However, my current job demands that so that isn't different.
Everything about the new job just seems better. The training, the team and the setup. I need to check this, but I don't think I'll be on call with the new job. That will be a major bonus.
Vandenberg said:
I tried it once for a 30k pay cut, after getting drained by the mon-fri commute.
The novelty of a short commute quickly wore off and I resented every single second of it.
That's a hell of a lot more than I would be losing. I don't think I'd even consider the new job if the cut was that much.The novelty of a short commute quickly wore off and I resented every single second of it.
I took a pay-cut when I moved to my present job. It wasn`t a huge cut but it was noticeable.
However, I now work days instead of shifts and I`m far happier now, even my wife (who was initially against the move due to the pay drop) has said how more relaxed I am. My quality of life is now much better.
If financially you can manage it without too much of a lifestyle change then do it.
However, I now work days instead of shifts and I`m far happier now, even my wife (who was initially against the move due to the pay drop) has said how more relaxed I am. My quality of life is now much better.
If financially you can manage it without too much of a lifestyle change then do it.
This similar situation (and 20% cut) is an issue I am thinking about at the moment. It sounds like you want to go in the other direction to me (big to small company). Further to my posts in the “does anyone work at VW UK?” thread, I am also looking for another job in the same industry (FX) in order to leave the place where I am now. Yesterday I was told about a new position with the 20% cut. However, there is a bonus on top of that and (which to me now is very important) a bigger office where all the departments are in one place.
The new role is front of house (currently I’m in compliance) and is at a much bigger company. My current company’s London office has four full-time employees (inc. me) in an office with just eight desks and the office atmosphere is like a library and I am tired of it. I can also tell how “busy” I am by the frequency of my posts/replies on the thread I mentioned above!
The new role is front of house (currently I’m in compliance) and is at a much bigger company. My current company’s London office has four full-time employees (inc. me) in an office with just eight desks and the office atmosphere is like a library and I am tired of it. I can also tell how “busy” I am by the frequency of my posts/replies on the thread I mentioned above!
TTOBES said:
This similar situation (and 20% cut) is an issue I am thinking about at the moment. It sounds like you want to go in the other direction to me (big to small company). Further to my posts in the “does anyone work at VW UK?” thread, I am also looking for another job in the same industry (FX) in order to leave the place where I am now. Yesterday I was told about a new position with the 20% cut. However, there is a bonus on top of that and (which to me now is very important) a bigger office where all the departments are in one place.
The new role is front of house (currently I’m in compliance) and is at a much bigger company. My current company’s London office has four full-time employees (inc. me) in an office with just eight desks and the office atmosphere is like a library and I am tired of it. I can also tell how “busy” I am by the frequency of my posts/replies on the thread I mentioned above!
I have my second interview this afternoon, so I'm going to ask some specific questions to really gauge the job. I'm meeting the HR person and the head of the development team. As the initial interview last week was 6pm, nobody was around to meet.The new role is front of house (currently I’m in compliance) and is at a much bigger company. My current company’s London office has four full-time employees (inc. me) in an office with just eight desks and the office atmosphere is like a library and I am tired of it. I can also tell how “busy” I am by the frequency of my posts/replies on the thread I mentioned above!
I've had a good think about it over the last few days and I'm ok with the cut, so long as the job is better than what I'm doing here. At the moment I'm not doing a lot and I'm really, really bored. I feel that I'm pretty much rotting away. I'm also fed up with seeing my manager constantly fall asleep at his desk (apparently, he doesn't have a medical issue).
The MD of the new company told me last week that he does like to look after his employees. I'm hoping that is true as the current company couldn't give a s
t.xjay1337 said:
I went from £45k and working from home full time, to £32k and having to go to an office (I hate offices) due to redundancy and I manage, it's st but I manage even with bigger outgoings now.
The potential new job (if I get it) will be office based. However, I will be client facing so I'll be meeting new people, doing some training one day, testing another etc. Looks like quite a varied role.t but I manage even with bigger outgoings now. There is nothing worse than being glued to the same desk all day, every day. Current job is terrible for that.
funkyrobot said:
xjay1337 said:
I went from £45k and working from home full time, to £32k and having to go to an office (I hate offices) due to redundancy and I manage, it's st but I manage even with bigger outgoings now.
The potential new job (if I get it) will be office based. However, I will be client facing so I'll be meeting new people, doing some training one day, testing another etc. Looks like quite a varied role.t but I manage even with bigger outgoings now. There is nothing worse than being glued to the same desk all day, every day. Current job is terrible for that.
I agree, it just sucks the life out of you. It actually triggered my depression again and my hatred for social interaction. I'm hoping to be able to get some work from home time. I have the odd day from home, but it's by no means regular. The director seems happy with it but my line manager doesn't seem to like it, I have my 3 month probation review soon so will sort it then.
funkyrobot said:
At the moment I'm not doing a lot and I'm really, really bored.
My sentiments entirely. I have Skype chats/video calls with my colleagues in Spain where there are five or six different nationalities and no matter how good their English, there is no substitute for being in the same office so that things/requests are not misunderstood.My CEO, who is not based in the HQ, is not a fan of even the most basic of KYC/due diligence so I need to get out before it gets dangerous!
Great that you got an 1800 interview but not great if not everyone you could have spoken to had left the office. I hate two or three interviews for one job!
Good luck!
xjay1337 said:
That's not too bad.
I agree, it just sucks the life out of you. It actually triggered my depression again and my hatred for social interaction. I'm hoping to be able to get some work from home time. I have the odd day from home, but it's by no means regular. The director seems happy with it but my line manager doesn't seem to like it, I have my 3 month probation review soon so will sort it then.
Hope you can get something worked out.I agree, it just sucks the life out of you. It actually triggered my depression again and my hatred for social interaction. I'm hoping to be able to get some work from home time. I have the odd day from home, but it's by no means regular. The director seems happy with it but my line manager doesn't seem to like it, I have my 3 month probation review soon so will sort it then.
My current job has triggered my issues too. It's got to a point where myself and my colleague struggle to do anything for our manager. He's been so terrible for so long, it's difficult to want to work for him.
I finally started my training for the new system last week (4 months after the thing went live). I hate to admit it, but I've given up caring.
TTOBES said:
funkyrobot said:
At the moment I'm not doing a lot and I'm really, really bored.
My sentiments entirely. I have Skype chats/video calls with my colleagues in Spain where there are five or six different nationalities and no matter how good their English, there is no substitute for being in the same office so that things/requests are not misunderstood.My CEO, who is not based in the HQ, is not a fan of even the most basic of KYC/due diligence so I need to get out before it gets dangerous!
Great that you got an 1800 interview but not great if not everyone you could have spoken to had left the office. I hate two or three interviews for one job!
Good luck!
Was odd timing yes. MD said he needed me to go back because he couldn't work me out. Don't know whether that is a good thing or bad thing. He did then ask me how soon I could start though and even asked if I could shorten my notice from the current job. I said I'll ask.
Will see how today goes. I haven't even been offered the job yet. I know they had further interviews on Monday, but they still want me back in today.
I had to have multiple interviews for the current job. However, when I turned up for the second interview, they had already made their mind up and just wanted me to confirm I was happy taking the job on.
I dropped my salary by 40% when I moved from my last place to where I am now. And MrsC resigned from her job and went part-time elsewhere for a 75% drop shortly after!
Would I go back to my old job? Not for a 140% rise! Hated every second of it, whereas here I'm valued, respected, and good at my job.
Would I go back to my old job? Not for a 140% rise! Hated every second of it, whereas here I'm valued, respected, and good at my job.
CAPP0 said:
I dropped my salary by 40% when I moved from my last place to where I am now. And MrsC resigned from her job and went part-time elsewhere for a 75% drop shortly after!
Would I go back to my old job? Not for a 140% rise! Hated every second of it, whereas here I'm valued, respected, and good at my job.
Good to hear.Would I go back to my old job? Not for a 140% rise! Hated every second of it, whereas here I'm valued, respected, and good at my job.
I'm hoping my pay cut will be easier to manage soon as my fiancée should be going back to work after August (when our daughter is 3).
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