Question: Would you, in this economy, CHOOSE to take a 40% pay cut?

[Common Sense Party]

Please tell me if I'm crazy.

I have a job. It pays pretty well--we get by, and have some disposable income. I've done it for years, and I'm good at it. But here's the thing: I have to travel. A LOT. I'm gone half the month, driving 600 miles here, 400 miles there, sleeping in one Holiday Inn after another, eating bad food, not exercising regularly, sleeping erratically.

And I miss my family when I'm gone. I especially have a desire to be home to help my diminutive wife handle our 200-lb. autistic, non-verbal, occasionally explosive 17-year-old son. And I don't like missing my daughters' band concerts and dance recitals.

I'm burned out on traveling, and I don't know how much longer I can do it--physically or psychologically.

SO I have this new employment opportunity in a different area of my industry. It's basically a step above entry level, because I have to learn the ropes. But I'm being recruited because they want me to take a management position a couple years down the road, when the current manager retires. So there is room for advancement (and future pay increases) with the new job. The new position is right here in my town, about 10 blocks from my house. I'd get to live and work and be a part of my community, which is what I've wanted ever since we moved here.

But I'd have to take about a 40% pay cut to step into this new job. We'd barely squeak by financially, at least for the next year or so.

Quality of life would be better, my health and happiness would improve dramatically. But I would earn less.

In this lousy economy, am I insane to willingly want to take such a drastic paycut?

What would YOU do in this situation?

[Skittles]

1. I think you should do it

because it is obvious it would make you happier, and that in itself is healthy for you and your family - but sit down with your family and plan a very strict budget "at least for the next year or so".

[Common Sense Party]

5. Yup--we have a budget laid out, but we may have to get even more

strict and fine tune it.

[Rob H.]

2. If possible, I would get everything they're saying in writing

My dad took a teaching job once because he was told that the head of the department would be retiring in about a year and he'd be moving up into that job. A year and a half came and went, the department head didn't retire, and they kept giving my dad the runaround so he found something else (that paid better, fortunately).

That said, if it were me I'd probably take the job just to have more time with family.

Edited for spelling.

[Common Sense Party]

6. Good point.

[NewJeffCT]

8. That's happened to both my wife & me

Hiring Manager: "so-and-so is retiring in a year, so I will take his job, and then you can have mine" - and, 2 1/2 years later, so-and-so is still there and still working.

Heck, it also happened to a friend of ours that is a doctor - she went into a new hospital as a cardiologist and there were several cardiologists there that were 60+ years old and she said all of them still seem to be going strong and show no signs of retiring.

[Tuesday Afternoon]

10. +1

with this in writing, I would do it. Yes.

[LynneSin]

3. You can't bring back the years you've missed with your family

No amount of money will every bring that back. But if you review your financial situation then perhaps it might actually work out for you.

Not sure what your wife does, does she stay at home because of care for your son? Perhaps she could get a part-time job out of the house or do some volunteer activities to take some of the stress out of raising your son.

And as someone who lives about 20blocks from work, it's amazing to have all that extra time available instead of dealing with a long commute everyday. Since I got my new Subaru, which has a 15 gallon gastank, I go thru about one tank of gas a month. Not kidding. That ends up saving me alot of money each money since I'm not really driving anywhere.

Good luck with your choice!

[Common Sense Party]

4. She works part-time now.

She actually works across the street from where I'll be working if I take this job. And she hardly uses any gas, which is nice.

Thanks for your help.

[joeybee12]

7. IF...a big IF...you think there's a future in this new job, go for it...

...you'll be happier...however, witht he way this economy is, you're taking a big cut for something that might not pan out, and you're missing out on that larger salary for a while longer.

[KamaAina]

9. No idea, but I can point you to a DU resource

our Asperger/PDD forum (parents welcome).

http://www.democraticunderground.com/discuss/duboard.php?az=show_topics&forum=387

[Common Sense Party]

15. Looks like a forum dedicated to attacking Autism Speaks. No, thanks.

[KamaAina]

16. Many of us who are on the spectrum can speak for ourselves

and do not need a neurotypical-dominated organization like Autism Speaks, which has no self-advocacy component whatsoever, to speak for us.

[Common Sense Party]

17. That's fine. No need to attack it. There are other organizations.

Some of us have children who will never speak. Organizations like Autism Speaks help us to give our children a voice.

[lukasahero]

11. I took a pay cut with my last move

Not quite that steep (although if you consider the cuts from when I was consulting to where I am now, it would be close). I can only tell you that for me, it was well worth the cut. I loathed my last job and I landed an offer with an outstanding company with great benefits that I have long wanted to work for.

That said, you really have to do your research about the company you're considering. You can't know the future but you can make decisions based on the best data you have available. Research things like does the company have a history of hiring up and then laying off? What do their financials look like? Are they sound or floundering? When was their last lay-off? What do the employees who already work their think/feel about the company?

And then hold your breath, close your eyes and jump. :) Life is too short to be miserable.

[Common Sense Party]

31. "Life is too short to be miserable." Well said.

I'll have to share that with my wife.

I keep reminding her that my life may be much shorter if I stay in my current job. My health and stress are so bad that I could have a heart attack or stroke any time. But I drive 40,000 miles a year--often in snow, on twisting mountainous roads. My luck is bound to run out one of these days.

[MiddleFingerMom]

12. Yesterday, for health reasons, I requested going to a 32-hour work week...

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...because, as I explained to them, although I NEED my job to maintain my health...
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...it would be more than a LITTLE counterproductive if the stress of
my job were to play a big role in killing me.
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I think they're going to agree with me.
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[bif]

13. A 40% pay cut of $0?

[Common Sense Party]

14. On the bright side, you wouldn't even miss it...

Nah, there's no bright side. Sorry.

[doc03]

18. Well I have in the past, back in the early 2000's we had to take a

pay cut to get our company out of bankruptcy. Sometimes a half a loaf is better than none at all. We survived, you just have to watch what you spend. I found I never lost as much take home pay as I thought I would (way less taxes).

[Common Sense Party]

19. There is that. Yes, we'll drop down from the 25% bracket on some

of our income to the 15% bracket as our top bracket. That will feel nice.

[doc03]

20. Don't forget less SS, Medicare, State and City tax. I also found

that if I worked more than two overtime turns at 1 1/2 I actually make less take home on those extra hours than on a normal day.

[Curmudgeoness]

21. Money isn't everything. But

you want to make sure you can survive on this new wage. Would you have to worry about losing your house? If you can do it, go for it. I always say that quality of life is everything, as long as you can meet NEEDS.

[Common Sense Party]

32. We can survive. We won't eat out, we won't contribute much to the 401(k),

we'll have to cut some corners, but we'll make do. We just won't be as comfortable, and I think my wife wants that comfort.

[Curmudgeoness]

33. Oh oh, you say something that puts a red flag up for me.

If your wife wants the comfort, she may have problems with the adjustment. Not eating out is no big deal. Not buying whenever you want something doesn't matter. In a few years, it sounds like you will be back to the ability to do the 401(k).

It seems like it is just a few years out of your life but...this really is a decision for both of you---even though I hate to think you would be stuck in that kind of job with travelling all the time and you being the one missing out on the family growing up. Make sure you are both on the same page.

[tigereye]

38. yeah sometimes it's the whole money vs time thing

My husband and I worked liked maniacs this summer trying to save up money for bathroom repairs and school tuition for the kiddo. But man were we cranky. It was a long summer.


I often prefer to have time rather than money, I suppose it depends on what you have to spend it on. Fortunately the house is paid off. We really want to spend more time enjoying our life and being more creative, rather than writing reports and endless computer code... :D


I think in a way we were happier when we had very little money, no cars, no house and no tuition payments... :rofl:

[femmocrat]

22. My husband retired after almost 30 years of traveling like you do.

He never regretted retiring for a second. He was making a lot of money but he had no life. He missed so many important family events. And there was so much pressure with his job.

He took a couple of different part-time jobs and has finally found one that he really enjoys. Plus he has plenty of time for those things that he wants to do.

One bit of advice though--- consider your health insurance carefully before you decide. We were OK because I have health care with my job. We got by fine with basically one and a half instead of two incomes.

Good luck to you, CSP. :hug:

[Common Sense Party]

24. Thanks very much. I believe the health care will be pretty much

the same as what I have now. The benefits are good, the 401(k) match is better (but I won't be able to contribute as much), but the pay is less.

But the idea of living and working and BEING part of my community and being here for my family is a HUGE benefit.

[triguy46]

23. Assuming the job is a lock:

I took a 20% cut 18 years ago and never regretted it, it removed a 75mile commute each way every day. I got to see all the kids plays and sports events. In reality, though only 20%, it was a step off a career path that withn a few months of quitting would have resulted in a 30K raise and a CEO position at a 150 bed hospital. I left it, took 4 years to get the income back, now doing just dandy. Quality of life is very very important.

[applegrove]

25. Do what is best for your health and your family. If the cut in pay is only going to be

for a year or two I would definitely take it.

[Common Sense Party]

26. THEORETICALLY, yes, it's only for a year or two.

But, as other posters have wisely counseled, I need to get something to that effect in writing.

[OmahaBlueDog]

27. My career has taught me two things

1. It's not what you make, it's what you keep
2. Sometimes, to go forward, a small step back is required

"..right here in my town, about 10 blocks from my house" = bike/walk to work. It may mean (or have to mean, given the finances) one less vehicle. That means less gas, less maintenance costs, and one feewer payment if the bank owns your vehicles. Walking or biking to and from work may also help save you on everything from diet products to gym memberships. Also, with not having to travel and commute, you could consider a very part time second job (burger flipping or shelf stocking or clerking at a small shop) to make up some of the differece.

I would see if I could haggle before I just said "yes." I'd also be very honest with myself about the topic of "this isn't working out." If, for example, after a year, that manager decides he can't retire for three more years, then you have to go on to something else.

[Common Sense Party]

29. Your #2 point is EXACTLY what I said, verbatim, when I learned of this.

And I do have the potential to earn some extra money moonlighting at what I do now, at least until I move into the management position.

Yes, the close proximity and the benefit to mental and physical health are going to be huge.

Thanks for your response.

[Capn Sunshine]

28. All in the worth factor

If someone came to you and said "what would it be worth to get off the road, spend more time with your family, improve the quality of your life? Is 40% of your check reasonable?"

If you can get by , there's no contest.

[Common Sense Party]

30. That's what I'm thinking. My wife isn't so convinced, but she knows

I need to be close by for my son's sake.

I think we can squeak by. When my son is 18, he'll start getting SSDI income, which will also help the family budget.

[Kat45]

34. I believe quality of life is much more important than income.

As long as you can make it on that money, which it sounds like you can, I'd say go for it. It sounds like you'd be much happier and I'd think your family would be happier having you around more. It sounds like your job is slowly killing you, and obviously that is not a good thing. I forget where I heard it, but the quote (or saying) is that when someone is on his deathbed, he never wishes he'd spent more time at work.

[Old Troop]

35. Naturally you need to decide if you can pay your bills with a 40% pay

cut. If you're close, I say go for it. I'm in month 10 of living 300 miles from my family so I can work. If I could change it I would.

[Common Sense Party]

36. As I said, "We'd barely squeak by financially."

So, yes, we'll be able to pay the bills. We just won't have frills.

[JohnnyBoots]

37. If they fire you, wouldn't they be paying you at 40% or so for unemployment benefits? NT