Author Topic: Took a 15% pay cut  (Read 622 times)

Geographer

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Took a 15% pay cut
« on: March 14, 2019, 09:12:37 AM »
I just quit my job this week to take a different one for -- that's right -- a 15% pay cut! Woo hoo!

All jokes aside, I've been working in the same office for four years (which is an eternity for someone in their 20s), and although the pay was good and work was relatively stress free, I was learning absolutely nothing and life started to become auto pilot. The work day would go by ridiculously slow. My co-workers were some of the laziest, miserable people, which began having an effect on me as well. I'll be sad to give up the salary, unvested 401k match, and access to mega backdoor Roth contributions, but it was time for a change.

The new job is a 15% lower salary, but in an industry which aligns better with my future career goals. I'll have the freedom and ability to telework occasionally. I'm excited to meet new people and learn new skills. My wife and I will still have a ridiculously high savings rate regardless, and she agrees that this will be a good change.

Has anybody done something similar, or at least thought about it? I know it's the right move, but it still feels unnatural taking a step backwards in compensation and leaving a job you're comfortable with. Help put my mind at ease!

teltic

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Re: Took a 15% pay cut
« Reply #1 on: March 14, 2019, 09:37:47 AM »
Wow.  Kudos to you!

I'm not satisfied in my current job.  Cool to hear you took a cut in an attempt to be happier!  I've been a slave at my job for 2.5 years. 401k & tuition reimbursement hand cuffs come off June 6, but that hasn't stopped me from interviewing at other companies (I'm optimistic to get an offer any day now!).

This will be the last company I stay for 3 years, simply for the 401k & $12k in tuition reimbursement.  Math wise it made sense to do so... But I lost so much of my soul sitting here in this cubicle not being happy.


Again, kudos to you!  I hope to proritize my happiness like you have going forward.

lexde

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Re: Took a 15% pay cut
« Reply #2 on: March 14, 2019, 10:51:58 AM »
Your career path does not have to be an upward trajectory (salary-wise) every time you make a move. Especially if the old job was toxic. Congratulations for making a change. It will pay off in the end.

Dicey

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Re: Took a 15% pay cut
« Reply #3 on: March 14, 2019, 11:25:30 AM »
Yeah, I did. I had some post-cancer bucket list things I wanted to do. Boss wouldn't give me the three weeks off I asked for, so I gave him three weeks notice instead. I went on my trip and never looked back. Unfortunately, the easy to get, flexible hours new job paid 50% less and did not come with a company car. It did come with an excellent profit sharing program. While there the required seven years for 100% vesting, I amassed quite a nice lump of money, which became the basis of my retirement nest egg.

ducky19

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Re: Took a 15% pay cut
« Reply #4 on: March 14, 2019, 11:46:44 AM »
I'm currently in a similar situation. Right now I'm in a leadership role with a team of 17 people. There is not a lot of movement in/out of the larger organization, so careers tend to stagnate around here. Unfortunately, some people just don't seem to understand how to conduct themselves in a large corporation with a professional environment, which results in me needing to take disciplinary actions for stupid shit. Short story, I'm tired of acting like everyone's babysitter/father and I'm ready for a change. I'm currently looking at positions up to two salary grades lower, but since the SGs have a range there is a lot of overlap. This means I should not have to take a pay cut for the move, though it would impact my bonus. I feel that's a small price to pay to get back to an individual contributor role where I only have to worry about my job performance, not 17 other people's. There is currently an open position that looks really promising, if I get an interview/offer I won't hesitate jumping ship for my own mental health.

Bearblastbeats

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Re: Took a 15% pay cut
« Reply #5 on: March 14, 2019, 11:53:09 AM »
This is currently my last week at my current employer. I am making a lateral move, PM to PM, but will essentially be taking home more money due to no income tax with the new employer.

The reason for me moving is mainly due to the boredom I get at my current position. PM work here is mostly just paper pushing and tracking work performed by my drafters. I am more of a hands on project manager and prefer to focus on my own work instead of checking in on my subordinates.

Also, this employer is turning into a nightmare to work for with there new policies. So, the new employer will allow me more freedom and a more prominent position due to its small scale.

Geographer

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Re: Took a 15% pay cut
« Reply #6 on: March 14, 2019, 02:49:51 PM »
Short story, I'm tired of acting like everyone's babysitter/father and I'm ready for a change.

This, exactly. I worked hard to get a "Senior" title, but realized it's not worth dealing with the under performance, lazy attitudes, and un-professionalism. I'd rather step back a couple pay grades and just be an individual contributor, responsible for my own performance.

LPG

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Re: Took a 15% pay cut
« Reply #7 on: March 14, 2019, 03:57:00 PM »
I'm all for your move Geographer! I get that it's hard to take a pay cut, of course. Suddenly you're giving away the same amount of time and skills for less money. Ouch. It also means that you aren't able to invest as much towards FIRE, and it delays progress. Ouch. Bbbbbuuuuuuutttt, I always try to remember that the point of all of this is liking your days. So if your path to FIRE takes a bit longer but you actively enjoy the journey, instead of suffering through it, then I'd say you're absolutely making the right choice. Try to think of it this way. This isn't an un-Mustachian choice, this is a choice that you can make because of Mustachianism.

I may be in a bit of a similar position (Expect to know more on Wednesday). I've been at my current job for 3.5 years, and I've been bored out of my fucking mind for 3.25 of them. This is partly because of the demands of the job (It's simply the easiest job I've ever had) and partly because of my personality type (I need a TON of novelty, and new experiences to stay interested, so jobs typically keep me interested/challenged for a few months before I start wondering how long I have to stay there to avoid thinking about how bad leaving would look on my resume). I've been considering my options for a year, and just had a job interview (Hilariously enough, at an airport as we were both waiting for flights back after a conference) with a job that I expect to be able to do ~75% remotely (That's still a discussion point). I suspect it'll pay more, but it might not. I expect I'll take it even if it doesn't - A new challenge, new people, new stimulation, and REMOTE WORK is worth a few thousand bucks a year to me.