Taking a pay cut...

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SiMCFC

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Just trying to gauge opinion on the above, I'm a mechanical and electrical engineer currently on a decent wage but that involves working shifts and I'm also on a standby rota, I work a fair amount of overtime so I normally finish the Year around the 50k mark but I've been killing myself doing this just to pay for a house renovation which we are nearly at the end of.

My Manager has asked if I would be interested in taking a step up to a role that is just underneath him which obviously would put me in a decent position for his job in 4/5 years when he retires, the main problem being it is salaried at 42k with no optional overtime, however it's an 8-4 Mon-Fri job and I'm really tempted on the basis my oldest child starts school next year and I feel like the weekends are going to become even more valuable than they are and do I really want to be working them either on my shift pattern or overtime going forwards, it's a lot of money to lose but I don't want to be on the tools forever so I'm torn! Just wondered if anyone else had taken a lesser paid job for the other benefits and whether it had worked out for you? Cheers
 
I used to be an IT contractor and was on a very good salary for quite a few years. However, it also meant a lot of long days and lots of travelling. I loved it and the money was great - me and the wife really enjoyed it and went all over the world!

However, once we had a child I took a job at a local company and took a big pay cut (about 50%!) as I wanted to spend more time at home. The way I looked at it was that I could always go back to earning contractor money if I wanted to, but there was no way I could earn the time I'd spend with our child.

To cut a long story short, it was the best thing I did. The family life balance was brilliant - the energy I spent driving an hour to I got to spend with our child and I've not wanted to go back. Watching sports lessons, games, piano lessons, Christmas carols etc and the rest are priceless! You will never, ever, ever get that time back and you'll be amazed how kids don't listen at all to you, but do really. If you're not there, you won't understand their hopes and fears and they will listen to someone else. Being there for your children is the best gift you can give them.

One thing I'd say about overtime is that it's great when you get to pick and choose, but if it becomes something you HAVE to do, you'll hate it. Imagine being the boss when you can't get people in and you have to do it regardless - it goes from being a nice to have to a real chore.

I don't know your trade, but if you are handy with the electrics which it sounds like you are then I imagine if you wanted to you could easily make a fair few quid doing "foreigners" if you were stuck for money anyway and I bet you'd make up any shortfall very easily! Try getting an electrician round to do small jobs!

My advice would be to take the pay cut, you won't regret it.
 
SiMCFC said:
Just trying to gauge opinion on the above, I'm a mechanical and electrical engineer currently on a decent wage but that involves working shifts and I'm also on a standby rota, I work a fair amount of overtime so I normally finish the Year around the 50k mark but I've been killing myself doing this just to pay for a house renovation which we are nearly at the end of.

My Manager has asked if I would be interested in taking a step up to a role that is just underneath him which obviously would put me in a decent position for his job in 4/5 years when he retires, the main problem being it is salaried at 42k with no optional overtime, however it's an 8-4 Mon-Fri job and I'm really tempted on the basis my oldest child starts school next year and I feel like the weekends are going to become even more valuable than they are and do I really want to be working them either on my shift pattern or overtime going forwards, it's a lot of money to lose but I don't want to be on the tools forever so I'm torn! Just wondered if anyone else had taken a lesser paid job for the other benefits and whether it had worked out for you? Cheers
Click to expand...
Do it. Dont like it after a couple of years go back, you have the skills
 
It's the time thing if you can afford it.
Bloke who works alongside me on same rate of pay earns around £12k a year more than me due to the overtime he does. He's devorced with kids and has always had the work ethic of if there is money to be made he's working. (reading between the lines, a big factor in his divorce/family situation)
I do the school pick up run and wouldn't swap it for any amount of money. That quality time, I meet them with their scooters, we go the long route home, as they tell me about their day is priceless, the fun we have at the weekends whilst my workmate is grafting away, the same.
Also speaking as someone who wishes they had a few less toys growing up but would rather have spent more time with their dad.
I'd say go for it, if you can afford it, a bit less money short term to spend priceless time with your growing children knowing long term you will be promoted again and I presume will be well rewarded
 
Dicko69 said:
It's the time thing if you can afford it.
Bloke who works alongside me on same rate of pay earns around £12k a year more than me due to the overtime he does. He's devorced with kids and has always had the work ethic of if there is money to be made he's working. (reading between the lines, a big factor in his divorce/family situation)
I do the school pick up run and wouldn't swap it for any amount of money. That quality time, I meet them with their scooters, we go the long route home, as they tell me about their day is priceless, the fun we have at the weekends whilst my workmate is grafting away, the same.
Also speaking as someone who wishes they had a few less toys growing up but would rather have spent more time with their dad.
I'd say go for it, if you can afford it, a bit less money short term to spend priceless time with your growing children knowing long term you will be promoted again and I presume will be well rewarded
Click to expand...
Spot on.
 
All depends on how much you value quality time. Hard to put a price on spending time with your kids so as long as you’re not gonna starve then go for it.
 
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