Author Topic: Just started a new job at 1/3 my former salary  (Read 3710 times)

Emg03063

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Just started a new job at 1/3 my former salary
« on: July 17, 2014, 12:25:41 AM »
For the experience.  I won't be 'staching much, but it's enough to support my lifestyle while my 'stache continues to grow untouched.  Feels good to have that flexibility.

Exflyboy

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Re: Just started a new job at 1/3 my former salary
« Reply #1 on: July 17, 2014, 10:44:49 AM »
Indeed.. Its funny think of doing this in our culture where "doing well" = high salary.

But in our case money is only a means to an end... i.e a happy life.

If your expenses are less than 1/3rd of your previous salary, logic says.. 1/3rd salary = 1/3rd stress = a 2/3rds gain in fulfillment (free time, lack of stress, longer/healthier life).. So why wouldn't you.

The ONLY reason to keep the higher paying job is that it will get you to FI faster, If thats important great.. if not, then improve your life by doing less work.

Its a win-win.. Just don't expect to impress "normal" people at a cocktail party..:)

Good for you.. I'm proud of the step you have just made.

Frank

Emg03063

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Re: Just started a new job at 1/3 my former salary
« Reply #2 on: July 17, 2014, 04:07:23 PM »
Thanks, Frank, Liberty.

To clarify:  I didn't voluntarily give up the higher paying job.  I was let go last may (see this thread for background:  http://forum.mrmoneymustache.com/ask-a-mustachian/offered-a-severance-option-should-i-take-it/msg79791/#msg79791

To answer:
1.  Mentally, it feels good to be working again and to have a reason to get up in the morning, and it's a relief to know I'm capable of supporting myself by working without having to touch the 'stache or to figure out how to live off it.  I could FIRE now, but I'm not comfortable doing it yet, and I'd like the experience of raising a family, and would like to do it FI at a slightly higher passive income level.

2.  I haven't actually told those closest to me yet, but I'll let you know when I do.  My friends that I have told have been supportive.

3. N/a

4.  Probably pushes it from ~3 years to ~ 6, but I haven't done the math.  Like I said, I'm here more for the experience than the money, so in that respect, it doesn't really matter.  I'm trying to retool my career (or what's left of it) a little, and I'm working in an industry I want to be in, albeit not in the role I ultimately want.  (I'm working for an energy efficiency company as manual labor in hopes of becoming an energy consultant-- they have more jobs lined up than they can handle at the moment and don't need anyone selling more right now, so I'm working to help them clear their backlog and develop capacity so I can get into the consulting role (it's a small company)). 



YK-Phil

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Re: Just started a new job at 1/3 my former salary
« Reply #3 on: July 17, 2014, 04:28:07 PM »
It does feel great to be able to do that. I did this too, after being let go in 2007 from a CEO job. Took about a year off, then "worked" about four years as a flight attendant for close to minimum wage, and that itself was a total blast. I had fun telling people who knew me career-wise what I was now doing for a living, and even more fun when greeting former staff and peers on my flights. One of my close friends is a consul and regularly invites me to attend functions with big shots and other diplomats, and I quite enjoyed seeing their reactions every time I said jokingly that I had every little girl's dream job.  I think I may have seen some envy in some people's eyes. On the down side, I must admit that it took me some time to get over my self-importance from my big-shot days, especially when I was working the business or first class cabin. I took a job in my field back in October, after getting an offer that was too attractive to turn down even being FI, but this time I accepted the challenge on my own terms, and if things don't go my way, I won't lose any sleep if I have to leave.

EDIT: I saw your comment above about doing manual labour with the goal of working as a consultant. Funny you say this, because when I got into the airline business, it was with the intention of eventually getting into an executive job with an airline, a field I loved but had no clue about. So in order to learn the ropes from the bottom up, I successively worked as a rampie, a customer service agent, then a flight attendant. When I had my interview to become a flight attendant with a major Canadian airline, the HR Manager, at the end of the interview, offered me a management position with the company. I replied that I was flattered by the offer, politely declined, and said I would consider it after experimenting with flying. However, I had so much fun working with at the frontline that the thought of becoming an executive never came back into the equation.
« Last Edit: July 17, 2014, 04:41:06 PM by ykphil »