Who has taken pay cut for dream job?

**bjl584** · 06-05-2012, 06:34 AM

There are a few ways to look at that. But, there is no sense in making alot of money if you aren't happy doing it. There is more to life than money. That being said, just make sure that you can afford such a pay cut should you make the jump. If your lifestyle is such that you need the pay that you are making now, then a 25% reduction is going to shock you.

**JoeP** · 06-05-2012, 06:48 AM

Originally posted by bjl584 View Post

There are a few ways to look at that. But, there is no sense in making alot of money if you aren't happy doing it. There is more to life than money. That being said, just make sure that you can afford such a pay cut should you make the jump. If your lifestyle is such that you need the pay that you are making now, then a 25% reduction is going to shock you.

I agree. It might help to "dial back" your lifestyle a little so that you won't feel that 25% cut as much.

**Bades** · 06-05-2012, 07:24 AM

I would def have to cut back on certain things - although I wouldn't be able to put as much away towards retirement and other saving iniatives as I would like to which is a bummer

I might try to first find a more desirable job within my firm.

**Eleanor** · 06-05-2012, 07:24 AM

Originally posted by JoeP View Post

I agree. It might help to "dial back" your lifestyle a little so that you won't feel that 25% cut as much.

I think this is a good idea. Try to start cutting back just a bit right now while you're still looking for a new position.

All in all, I say get a job that you like or that is at least more intrinsically beneficial and forget the money. I recently moved and took a pay cut, from my already very small last salary, to take a job in the field I wanted and because the new position allows me to learn a lot more marketable skills than my last position. It's been a bit of a struggle but it was well worth it.

**EEinNJ** · 06-05-2012, 07:39 AM

I would say "Go For It". Unless you have big financial responsibilities (kids, huge mortgage, etc.)downshifting can lead to a happier life. As long as you don't go too far, to a subsistence income or worse, you'll be fine, and your lifestyle will adjust. I think Warren Buffett is quoted as saying something like "Doing something you don't like for years so you can do what you really want later is like saving up sex for your old age".

**GREENBACK** · 06-05-2012, 07:41 AM

At age 47 and having been employed in my "dream job" for nearly 20 yrs. I can say that a big paycheck is nice but I'll take the happiness of doing what I love over any amount of money. I know lots of folks who make much more than me but you can tell that they hate going to work and it shows. You have a long work career ahead and I can say that going to work each day with a smile on your face is worth a million bucks.

**MonkeyMama** · 06-05-2012, 07:56 AM

Some thoughts:

Absolutely make this change while you are young. It won't get any easier. (If you were 45 I might answer very differently).

Now is the time to dip your toe in something else. Just because you try a different path doesn't mean you can never change your mind. (You may decide you were happier at your current job - but you never know until you try).

You are so young in your career - you may find that loving your job and being happy might lead to faster more promotions/more pay in the long run. Maybe this is not realistic in your exact field, and it's good to be realistic, but often happiness brings more success.

IT is great advice to practice living on a smaller income, in preparation for this change.

My own experience? I have always loved my work, but it took a LONG time to convince my spouse to quit the well-paying job he hated. I encouraged him for years. May not sound relevant, but we chose a 50% household pay cut. Fast forward 10 years, and he would tell you that *not* quitting his job/career path would have been the biggest mistake of his life. I don't think he fully realized until he had some serious health problems 2 years ago. I am all about following the heart (while being practical). Because we are also very practical.

I have a good paying job, but personally choose the small business/no benefits, low-stress, 9-5 work environment. I could easily make a lot more if I Wanted to go in a direction that I did not enjoy.

**jpg7n16** · 06-05-2012, 08:41 AM

Originally posted by Bades View Post

My fear is these jobs I'm looking at, I would most likely have to take a 25%-30% cut. That's pretty substantial. I believe there is potential to make good money within the industry I'm looking at, I think it would take awhile to get there.

Food for thought? or words of advice if anyone else has been in a similiar situation?

My advice is more of answering a question for yourself:

How much would they have to pay you to hate your life for the next 20 years? Would it be worth it?

I am also younger (27) and was working in a job I was good at, made good money at, but wasn't happy and didn't feel like I was making the difference in the world I wanted to make. So I took a pretty big paycut and left (about 35%). Now I'm happy doing what I do all day, and have almost made back the income gap. But I don't really care about the income as much as I do about feeling good about what I do each day.

**riverwed070707** · 06-05-2012, 10:08 AM

You can't put a price on happiness. I understand how looking at the numbers can be discouraging (especially when it comes to savings rather than obligations!) but at least make sure you're comparing apples to apples. Don't look at it as currently putting $XX,XXX away for retirement and with the lesser salary only being able to afford $X,XXX -- look at percentages and make sure you can meet your goals and then I say go for it! If you're still saving 15-20% of your income, can pay your bills and have a little left over for fun, plus you love your job I'd say you'd be on a pretty great track.

Is your line of work something you could pick up side jobs as needed to supplement your savings goals if needed?

**disneysteve** · 06-05-2012, 11:46 AM

I certainly don't feel I'm in my dream job, but I think my experience lends itself to answering your question.

From 1993 to early 2000, I was in a job that was very busy, high volume, long hours, lots of driving, on call a lot, and not treated all that well. It was my first job out of school and was a great learning experience and I'm not at all sorry that I did it, but after almost 7 years, it got to be too much, especially once my daughter was getting older and I was never around.

So I quit.

I spent about 3 months unemployed until a new job found me (Lord knows I didn't go searching for it). The new job was much more laid back, closer to home, better hours, treated more fairly. Initially, I was only hired on a part-time basis at about half of my previous pay. In fairly short order, as business picked up, my hours were increased but it still took a couple of years until my pay was close to where it had been at the old job (and that would have been higher by then had I stayed there so I was still behind). But I was much happier, more relaxed, got to spend more time with my family, slept better, less wear and tear on my car, etc.

So I made a lifestyle change and gave up some money in the process, but it was absolutely the right decision for me and for my family.

**Bades** · 06-05-2012, 12:41 PM

Originally posted by riverwed070707 View Post

Is your line of work something you could pick up side jobs as needed to supplement your savings goals if needed?

Yes it is - and I'm actually doing it now. Web Design/Development work. That's what I want to get into on a professional level, but don't have formal degree for that, but I do have a Bachelors in MIS (management information systems). I know there is def money to be made in Web, but I'm not a programmer and that's usually where the good money comes from.

But I did think about supplmenting the income loss with my freelance

**Bades** · 06-05-2012, 12:43 PM

Originally posted by jpg7n16 View Post

My advice is more of answering a question for yourself:

How much would they have to pay you to hate your life for the next 20 years? Would it be worth it?

I am also younger (27) and was working in a job I was good at, made good money at, but wasn't happy and didn't feel like I was making the difference in the world I wanted to make. So I took a pretty big paycut and left (about 35%). Now I'm happy doing what I do all day, and have almost made back the income gap. But I don't really care about the income as much as I do about feeling good about what I do each day.

Good stuff - Before I look outside of my current firm I may see what other jobs they have within that tickles my fancy, that would be much of an improvement.

**ecoadapt** · 06-05-2012, 01:22 PM

Dream Job,who wouldn't love that. But like others said and I think would be a better action, is to take a look at all the possibility of the pros and cons on your decision.

**josetann** · 06-05-2012, 02:22 PM

Which is better, a job you love but won't finance a (meaningful) life outside of work, or a job you hate that will finance the life you've always dreamed of (outside of work)? Put another way...would you rather work with a company and people that you love, but you don't have much of a life outside of work; or would you rather work at a company you hate and make the big bucks so you can go golfing, skydiving, travel around the world, go to the opera, whatever?

Either can be the right answer. Now, if you can work your dream job and make lots of money to finance a life outside of work...now THAT'S the best option! But is it realistic? Maybe for some.

Anyways, just from your post, it sounds like your current work arrangement isn't all that bad. Making good money, putting money aside for later, have a fun life outside of work...but work sounds at least a bit stressful. Just how stressful, and what's causing the stress? Are there ways to reduce that stress? Maybe a different perspective is all you need; if you look at the soul-sucking job as JUST A JOB, and not a lifetime career...will the office politics bother you as much? If you know you could just walk away at any time...would that help? Probably would for me. And if you could find a better (more fulfilling) job at your current company, that might be a great compromise.

To answer your question, yes we have purposefully taken a reduction in pay so we can have the lifestyle we desire. We'll see how it turns out, but so far so good.

Who has taken pay cut for dream job?