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14 hours ago, GallowayBlue said:

Considering taking quite a hefty pay cut (~40%) from a job I don’t enjoy to embark on a new career path.

Obviously I’d be starting at the bottom again but longer term I might be able to work my way back up to a similar level.

Is that ridiculous?

Have you ever taken a pay cut? Would you take a pay cut? Any horror stories that should serve as a warning to me?

sorry see @Jacksgranda

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15 hours ago, GallowayBlue said:

Considering taking quite a hefty pay cut (~40%) from a job I don’t enjoy to embark on a new career path.

Obviously I’d be starting at the bottom again but longer term I might be able to work my way back up to a similar level.

Is that ridiculous?

Have you ever taken a pay cut? Would you take a pay cut? Any horror stories that should serve as a warning to me?

I’ve done it a couple of times. Moved to London from uni then moved back up here after a few years for about a third of the money but no real drop in lifestyle as Fife is a bit cheaper than London. 
 

Sold my old job/business about 14 months ago to start something new and that meant a drop from £lots to £0 to start with but I was confident it would work and I enjoy life more. 
 

Yes, look at the future but remember we could drop dead today or tomorrow. Money isn’t everything. 

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16 hours ago, GallowayBlue said:

Considering taking quite a hefty pay cut (~40%) from a job I don’t enjoy to embark on a new career path.

Obviously I’d be starting at the bottom again but longer term I might be able to work my way back up to a similar level.

Is that ridiculous?

Have you ever taken a pay cut? Would you take a pay cut? Any horror stories that should serve as a warning to me?

No it's not ridiculous but frankly it's not really important what others think in that regard.

You get one life and you should spend as much of it doing things which give your life meaning as you can.

So many people exist for retirement and then find they are broken by the time they get there.

If you've found something you'd prefer doing, sort out a budget you can live on and go for it.

I have regularly done what you are talking about. Don't want to think about what it's cost me financially but I wouldn't have changed any of it if I got the chance to go back.

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Would generally agree with most people here (I've been happy to take paycuts too albeit not 40%) and there are some good success stories here. There are a couple of things I'd consider from my experience though (and apologies if these come out as patronising):

1 - money is a big driver of things. You could quite possibly be happier in a different role/sector but if you're not and you have significantly less disposable income then...

2 - are you sure you want a complete change or is it possible it's just your current job. Depending on the industry, there might be other companies/roles about that would get you back into enjoying what you're currently doing. Also maybe consider any preconceptions you might have. My example would be I never wanted to work as an accountant in a bank thinking I'd not enjoy it, but decided to do it for a couple of years to get some savings... and it ended up being one of my favourite jobs in terms of work tasks and colleagues.

 

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One benefit of being an auld git is that my current weekly  wage is now just over 30 times my first wage!

Modern costs of living for me now though means that there is not really much difference.

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23 hours ago, alta-pete said:

I once moved job for a massive pay rise. Biggest mistake ever. If you’re miserable at your work it’ll leak into the rest of your life. 

Money doesn’t solve much. It just gives you a nicer place to sit and have the same problems.

If you can cope financially and it’s what you want to do, do it. If it turns out shite you can always go back to the money. 

 

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I have a different take on this.  I used to enjoy my job.   Now I hate it.  Utterly detest it.  It pays a lot of money though and I have a budget/plan to retire in 4/5 years when I’m early 50’s.  I couldn’t do that if I took a big pay cut so I’m willing to suck it up.

I’ve learned to switch off from work at 5 so it doesn’t leak into my home life.  You have to be able to separate the two.  

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I just took a pay cut to start a new job. Not much of a cut but a cut none the less. 3 days in and I've been offered a senior position with a wage rise. Sometimes it's worth the risk. I love my job, its tough but ultimately satisfying and I think that's what they've looked at.

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5 minutes ago, the snudge said:

I just took a pay cut to start a new job. Not much of a cut but a cut none the less. 3 days in and I've been offered a senior position with a wage rise. Sometimes it's worth the risk. I love my job, its tough but ultimately satisfying and I think that's what they've looked at.

It's tough and you love it. What do you do? It's not fair to leave it at that.

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20 minutes ago, HeartsOfficialMoaner said:

It's tough and you love it. What do you do? It's not fair to leave it at that.

Support worker in a rehabilitation residential home for people with acquired brain injury, trauma, mental health etc. 

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Thanks for everyone’s thoughts. I’ve been reading all posts with interest.

I have an interview arranged for the new job in a couple of weeks time. I’m not sure whether I’ll get it but I think I’ll keep looking at jobs in different industries going forward.

 

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2 hours ago, Left Back said:

I have a different take on this.  I used to enjoy my job.   Now I hate it.  Utterly detest it.  It pays a lot of money though and I have a budget/plan to retire in 4/5 years when I’m early 50’s.  I couldn’t do that if I took a big pay cut so I’m willing to suck it up.

I’ve learned to switch off from work at 5 so it doesn’t leak into my home life.  You have to be able to separate the two.  

Good luck with this.

I have to say that doing 4-5 years of a job I actively detested would kill me but the carrot of being able to retire so early must be keeping you going.

Just stay fit and healthy FFS so that you can enjoy it when it comes. 😆

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2 hours ago, Left Back said:

I have a different take on this.  I used to enjoy my job.   Now I hate it.  Utterly detest it.  It pays a lot of money though and I have a budget/plan to retire in 4/5 years when I’m early 50’s.  I couldn’t do that if I took a big pay cut so I’m willing to suck it up.

I’ve learned to switch off from work at 5 so it doesn’t leak into my home life.  You have to be able to separate the two.  

Good luck with your retirement plans. I "retired " a couple of years ago. Spent most of my time sleeping, doing absolutely feck all. Wife got so pissed off that I happily went back to work just to get some peace and quiet.

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30 minutes ago, supermik said:

Good luck with your retirement plans. I "retired " a couple of years ago. Spent most of my time sleeping, doing absolutely feck all. Wife got so pissed off that I happily went back to work just to get some peace and quiet.

I have plenty hobbies I’ll happily spend time doing along with spending time with my dogs.  No time to do f**k all as much as I’d love to 😂

Work gets in the way of doing things I want to do.   The sooner I’m shot of it the better.

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1 hour ago, GallowayBlue said:

Thanks for everyone’s thoughts. I’ve been reading all posts with interest.

I have an interview arranged for the new job in a couple of weeks time. I’m not sure whether I’ll get it but I think I’ll keep looking at jobs in different industries going forward.

 

Good luck mate.

I left a job for less pay. I had enough of their shite and had to get out.

I can’t even tell you what I spent the extra money on but I remember leaving made me a lot happier.

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