Taking a pay cut...

[117 M34]

Definetly take it.
Also, I imagine your boss earns more than you do now even with your overtime so think of it as a short (5 year) loss for a longer term gain.

Edit - as your child is about to start school, if they are currently in some form of paid childcare, you probably won't be any worse off anyway.

 

[Kompany Car]

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

Sounds to me like your hourly rate really won’t be any different, so fixed hours rather than working lots of hours where you are expected to be available at the drop of a hat, seems like a good move.

Additionally you obviously have the practical experience, so if you can gain management experience it will make you more valuable. If your salary doesn’t increase as quickly as hoped you can always jump ship to get a higher paid job elsewhere.

Good managers who know the practical side of the job are hard to find, so don’t undervalue yourself.

 

[threespires]

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.

Was in very similar situation to yourself and am in total agreement. Was 100% the right choice for us.

The other thing I would say to the OP is that it all goes in the blink of an eye, you turn round one day and suddenly they're taller than you and talking about where they might go college. All the more reason if you are fortunate enough to be in a position to, to value and treasure every available moment with them.

 

[Blue Mist]

Think about the important things. If you have weekends free you can spend quality time watching City. Remember Alfies lad won't always be at City but your kids will still be there when you get home

 

[ChicagoBlue]

What are your priorities?
It really is that simple.

My personal feeling: You will NEVER regret sacrificing a little money for time spent with your children while they are young and impressionable, but you will NEVER live down the regret of sacrificing time spent with your children for a little money.

 

[melrose40yarder]

Do it time with the ones you love is worth more than money.I made the mistake of going back to my previous job huge mistake.Long hours on call 24/7.I have taken a backward step less money 2 days a week from home.25 days plus bank hols.Christmas off till 3rd Jan on pay.Im lucky everything is payed off,so money for us is for bills 2 blowouts and 2 city games a month.I now have no stress can come and go as i please as long as i do my hours i dont dread going to work anymore.Money really is not everything time and health are.

 

[FantasyIreland]

No brainer,life is too short.

 

[The Northern Baptist]

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

Using Listen to the Taxman website the net monthly different between £50k and £42k is £500.

The one question I have, is it really an 8am-4pm job? No optional overtime, will you be working outside of these hours for free? I know plenty of people doing 9-5s and getting paid for those hours, but actually doing a lot more hours with no pay. Sounds like your current job you get paid for the hours you work.

 

[A57 the snake]

100% take it , take the mon-fri I could tell you so much I’ve gone through with lads in work similar position especially the maintenance lads they’ve chased the ££ for years because it was there to be had. Now many are physically fooked and some mentally as well. Many are sadly single now as well yes they’ve got a few Bob but for what ??
Mate you’ll never get quality family time back when’s it gone it’s gone.90% of our maintenance staff would go back on Mon-Fri and take the cut from working continentals.
Which ever path you take good luck and hope everything turns out well.

Up the blues.

 

[mancity2012_eamo]

It’s all about work life balance.
Overtime and shift work is a young man’s game.
I was on shift in Operational IT for about 11 or 12 years and rose through the ranks as far as I could go. I gave it up and took an initial drop in wages to join the Support team.
I eventually caught up on the wages and exceeed it when I went on call. I did that for 17-18 years on really good money, but it takes it’s toll getting up in the middle of the night. I had family by then too.

I again stopped. Took the drop again and went back into finance dept. where I had originally started my career.

OT/shift/on call is tough over years and will prematurely age you. If you can afford the pay cut, there is more to life. Go for it.