Announcement

Collapse
No announcement yet.

Job discussion

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Job discussion

    I'm curious has anyone here ever taken a lower paying job before in their career when presented with the option? I have two potential opportunities in front in me, and while option A is what I would lean towards at the moment, the compensation would certainly be less than option B, and not by an insignificant amount. Option B would be a solid gig, as in it's not a a position I would hate, to the extent that matters. In fact the latter would be along the lines of what I've been doing for a large part of my career. Option A would represent something different and a new challenge. While that has a lot of appeal to me at the moment, as I've been looking for an opportunity to shift careers, it also presents some additional risk.

    I know what some of the likely responses to a question like this is, as I've obviously been thinking through it at length, but just need an external outlet to voice my thoughts and hear some other opinions...even if it's from a bunch of degenerates like you. :)

  • #2
    I resigned from a job as an attorney at a Top 5 law firm in NorCal (won't name it on here) to get back into federal service. Needless to say, it pays FAR less, but I do get a pension for my troubles, all my time in the military counts towards my retirement, I'm not surrounded by walls 60 to 80+ hours a week, I believe in the mission of my agency, and I get to play with guns. It's all about what you want out of life. A paycheck is just a threshold, IMO.

    Comment


    • #3
      Now don’t get me wrong, I’m a home owner in Silicon Valley because of the former - no way I could have afforded to buy here with my current salary, at least not without being completely house-poor. So there certainly were some financial considerations that played a part in my decision making process.

      Comment


      • #4
        Two reasons to take a lower paying job:

        - new job significantly raises your longer term “ceiling”

        - new job significantly improves your personal happiness. Family and/or career “satisfaction” significantly improved.

        if your new job still covers all your financial “needs”.....well be careful. If, (like most people) your “needs” have expanded to fit your (higher) income from the past, you may experience more financial anxiety that you expect.

        Just be sure you are careful to correctly appraise the value of your new happiness... or the period of time it will take you to monetize your raised ceiling.

        Comment


        • #5
          Originally posted by robinsonjim View Post
          Two reasons to take a lower paying job:

          - new job significantly raises your longer term “ceiling”

          - new job significantly improves your personal happiness. Family and/or career “satisfaction” significantly improved.

          if your new job still covers all your financial “needs”.....well be careful. If, (like most people) your “needs” have expanded to fit your (higher) income from the past, you may experience more financial anxiety that you expect.

          Just be sure you are careful to correctly appraise the value of your new happiness... or the period of time it will take you to monetize your raised ceiling.
          Well said.

          Comment


          • #6
            Originally posted by robinsonjim View Post
            Two reasons to take a lower paying job:

            - new job significantly raises your longer term “ceiling”

            - new job significantly improves your personal happiness. Family and/or career “satisfaction” significantly improved.

            if your new job still covers all your financial “needs”.....well be careful. If, (like most people) your “needs” have expanded to fit your (higher) income from the past, you may experience more financial anxiety that you expect.

            Just be sure you are careful to correctly appraise the value of your new happiness... or the period of time it will take you to monetize your raised ceiling.
            Thanks rj, great advice. The reasoning would certainly fall into bucket #2. The time sacrifice of what I've been doing (option B) weighs on me, and while hard work is always expected no matter where, that unwritten rule certain organizations have of your expected availability during the off-hours would certainly be less burdensome with the lower paying gig. However, regarding your first point it is also lower paying because it would technically be a small step down. New industry, they want me to prove myself first, etc. That's fair.

            What also is not lost on me is I've been at it for a little while now, and my sense is that the longer I stay climbing the mountain I'm on, the harder it'll be to hop off and try to climb a new one. In other words, this may be my best opportunity to transition to something new as I'm not going to be looking at a reset when I'm on the back end, kids are in college etc. Not saying you can't ever teach an old dog new tricks...but that old dog is going to need a lot of persuading to change his ways the older he gets.

            Comment


            • #7
              To your other point about finances and having expanded our lifestyle, that's also a good consideration. I do like to think that we've made a good effort over the last several years that much of the added comp we've received has been quickly redirected towards retirement/other investments so that we don't even see it in the bank account and grow accustomed to it. Still, we all generally work for a reason, and it's not because we want to sit through yet another of HR's mandatory "management training" sessions.

              Comment


              • #8
                Originally posted by FrobozMumbar View Post
                I resigned from a job as an attorney at a Top 5 law firm in NorCal (won't name it on here) to get back into federal service. Needless to say, it pays FAR less, but I do get a pension for my troubles, all my time in the military counts towards my retirement, I'm not surrounded by walls 60 to 80+ hours a week, I believe in the mission of my agency, and I get to play with guns. It's all about what you want out of life. A paycheck is just a threshold, IMO.
                I know it's all specific to individual circumstances, but do mind sharing about how many years you were into your career when you made the jump? I'm just curious.

                Comment


                • #9
                  Every year you stay in a career makes it that much harder to switch to something else. By the time you are 50 the job market has pigeon holed you into what you are. It is hard to do something different. unless you start your own business. I know several people who have taken pay cuts to go do things they wanted to. I could have done another six or seven years but there were other things my wife and I wanted to do while we were healthy enough to enjoy them.

                  I had a customer who lost an internal power struggle at a Fortune 500 company. He took the same job, CIO, at a much smaller private company. Ended up with more authority and could actually make decisions on technology directions. Less money but more along the lines of what he wanted to do. I don't know the former MU football defensive coordinator. He took a large pay cut to be the head coach at Missouri State. He wanted to run his own show and hadn't had any luck with a D1 job.

                  In our travels we have met a number of older people who said pretty much the same thing. They wished they hadn't been so money/career focused and enjoyed life more.

                  Comment


                  • #10
                    Originally posted by TheBricklayer View Post

                    I know it's all specific to individual circumstances, but do mind sharing about how many years you were into your career when you made the jump? I'm just curious.

                    I graduated from law school in 2002 and made the jump in 2008. All of my military service was prior to my starting law school.

                    And as RJ pointed out, I was decidedly not about lifestyle creep. I lived in a semi-shitty (okay, mostly-shitty) two bedroom apartment across the street from a Nordstrom Rack and a muffler shop, contributed the absolute max to my 401(k)/TSP from day one (still do), actively invested another 10-20% of my income outside of my TSP/401(k), and squirreled away the rest of my cash like I was a paycheck away from being homeless in order to put as much cash down on my house as I could as well as setting up for retirement. I literally put myself on a plan where my disposable income was the only money out of my paycheck that made it into the only bank account that I have a debit card for. Direct deposit allotments are my friends. My savings account allotment, investment funds, bill pay money, mortgage payment, insurance, etc. get direct deposited into various accounts at a completely different bank - everything auto-pays and I don't have to think about it. I've successfully tricked myself into thinking and acting like I have a very low income. And with each raise, I always afforded myself a little bump to my spendable money, too - I do like the wineries and fine dining. So my lifestyle still sees an increase on the regular, but it's a deliberate and measured increase. This was all made easier by the fact that I don't have children. That would have probably changed the game considerably.

                    The above is a lot of extraneous words to say that I set myself up in a way that making the change was not akin to closing my eyes and jumping off a cliff without a parachute.
                    Last edited by FrobozMumbar; 12-22-18, 06:34 PM.

                    Comment


                    • #11
                      Just make sure you are making enough. Struggling with money can put major strains on relationships, cause major stress and anxiety, and put you into major depression. It will likely delay retirement.

                      Having said that, don’t value a job solely for salary. Look at all the benefits and weigh them all. Hours worked. Stress level. Benefits. Upward mobility. All of those things and more should go into the analysis.

                      Sidenote: I see people state so often that capitalism is just about making as much money as you can. That’s a horrific perversion of what capitalism is. Capitalism is a system that allows YOU to decide what is important and go for it. If that’s a big salary, you can get that. If it’s time with family, you can get that.

                      Back on track: It it sounds like you need to figure out what you (and your significant other or whatever) really want for the next 5-10 years. What do you really value? Then just choose the job that allows you the best chance to get that.

                      Comment


                      • #12
                        Also, a tertiary reason would be lower commute, at least for me who hates driving

                        Comment


                        • #13
                          Commute is actually a difference in favor of A. I agree it’s a “nice to have” but won’t be a primary factor as it’s maybe a difference of 10 minutes.

                          Comment


                          • #14
                            "A paycheck is just a threshold"

                            I agree with this, though I've rarely had the chance to put my money where my mouth is.

                            The one time I took significantly less money (about 30% less, and in NYC no less) was for a job where I knew there was much better potential for growth. That was 6.5 years ago and I know make almost 4x what I did then, so it turns out I was right about that bit.

                            I'd take less pay for a job that I was more happy in, but if it's close, give me the money. I'm trying to reach financial independence by my mid-40s. I won't work a job I hate, but I'll work a job I like a little less if it helps me toward that goal. Sounds like Froboz and I have a lot of financial values in common.
                            Last edited by LARPHawk; 12-22-18, 09:49 PM.

                            Comment


                            • #15
                              Although I don't know specifics, I suspect you've made enough in life to have a comfortable lifestyle. More or less, everyone else has already said what I would also say and that is do whatever brings you the most personal satisfaction and fulfillment and not what makes the most money. (Assuming that the personal happiness and fulfillment route provides enough income to be financially comfortable).

                              Best of luck in your decision moving forward.

                              Comment

                              Working...
                              X