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I was wondering what are most peoples' thoughts on taking around a $10k-15k pay cut in order to be in a more stress free environment that is flexible and provides much better work/life balance and if you think this would be worth it?
I currently make about $120k a year but my job is pretty stressful, meetings all day, working after hours at times, and just feeling overwhelmed a lot of times. I was thinking of going back to my former employer which would mean I'd have to take a slight pay cut so I most likely will be making between $105k-110k but since I know the environment is very relaxed and how everything was, I know that it would be much more flexible and the work/life balance is really good compared to my current role. The new role has more potential for growth in terms of salary long term, but honestly I much more value leisure time and time away from work for hobbies and side hustles.
What are your thoughts and has anyone ever taken a pay cut like this for better work/life balance, being in a much more relaxed environment, and happiness? Not necessarily having going back to a former employer, but just accepting a lower salary elsewhere fits this scenario as well. Is it worth it in your opinion to take this much of a cut?
Can you afford the pay cut, and how will the pay cut impact your retirement?
I think I would be able to afford the pay cut because prior to my new job, I was making around $80k and was doing fine, no debt or anything. So the pay cut would only be in relation to my new job and I'd be going back to around $105k-110k from $120k at my current new job. I guess there will just be a tradeoff in terms of career growth vs flexibility and leisure time, as my new job has a higher growth path compared to if I were to take a cut. Was just wanting to know if anyone here has done something similar and if there were any regrets on going back to a slight pay cut.
I did it. Took a little adjusting but was well with it. Realistically I was going to end up dead of a heart attack, divorced and estranged from my Family of I didn’t. COVID showed me we could scale back a little and be fine, and my wife and kids really needed me around more, my wife struggled quite a bit with me being unable to handle my share of the load. So it was only barely a choice, it’s just what it had to be. I think the men who can pull off the really high end jobs, their wives accept that before they are married. Mine didn’t understand it as she didn’t come from a white collar family, so it was too uneven distribution of workload and at some point, you’re 20 years from retirement and there was no way I could keep it up that long.
Only you can answer this - however, you only live once. If you were talking about a 1/2 pay cut, that would be a different story. But $10-15k is nothing. Probably worth it if all other things are equal, and its truly as you say.
Much shorter commute, sane (mostly) management and much improved work/life balance. Never looked back. To top things off, the much-reduced stress levels made for improved professional growth, enough to get on the corporate ladder.
Much shorter commute, sane (mostly) management and much improved work/life balance. Never looked back. To top things off, the much-reduced stress levels made for improved professional growth, enough to get on the corporate ladder.
How big of a cut were you willing to take at the time in order to have better work/life balance?
At the end of the day, everybody is angling for less work, and more money, more WFH, more weeks of vacation, but ... it really doesn't mean as much as people think.
My mom worked her butt off. She worked Saturdays, she worked late, she worked until she was 72 fricking years old. And she never broke six figures.
One of her friends at church was married to a doctor and didn't work at all. Ever. And not only did her husband have money, her family had money too. Lives in a big house now. Alone. Paid off. Retirement? Not a concern.
Doesn't REALLY mean her life was better than my moms.
It's kind of like one of those things in life.
Last edited by jobaba; 07-18-2022 at 06:24 PM..
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