It’s always difficult to take a pay cut, which is what invariably happens when we change jobs for one with less responsibility and a better work / life balance. Though this is never an easy decision, it is one that those of us who have climbed the career ladder will at some point face (or at the very least think about).
Having had post traumatic stress disorder in the past I know my limitations well and, for me, a work life balance that supports my emotional well being and health is my number one priority. Sure, when faced with the question ‘do you want to be stressed and work all the time?’ almost everyone would say no. In reality though, the process of climbing the career ladder is a gradual one and, with practicalities to consider like rising living costs and bills, finances understandably must impact our decision.
Though only you will know what is best for you, if you feel like you are constantly burnt out and you are not sure how much longer you can sustain your current lifestyle, I would urge you to consider whether changing jobs / careers is maybe something to look into.
If you are exploring your options for a new career follow the steps below for an easy way to reach a decision that works for you:
- List your current monthly expenses and what you need to earn to not only cover these but have 1-300 spare for savings each month (take into account any changing expenses for the duration of possible studies).
- List a revised and more thrifty budget of monthly expenses and what you need to earn to not only cover these but have 1-300 spare for savings each month (take into account any changing expenses for the duration of possible studies).
- List career options and pros and cons, including potential salary (rule out salaries below your revised thrifty budget).
- For each career option list whether you will need to study and if so how much it will cost, including living expenses for the duration of your studies.
- If you have savings but still cannot afford to study for some career options rule these out now – if it is not viable to work alongside your studies.
- If you can work alongside your studies – earning the minimum wage how many hours would you need to work? If you would be working too many hours for your studies to thrive, rule out these options now.
- With the options that are left weigh up the pros and cons and then decide on your next career move, paying close attention to the work / life balance the role will offer. Remember, you won’t be on your death bed reminiscing about the amazing career you had!
Wishing you all the happiness you deserve,
x X x Jenny x X x