1–10 of 26 posts
What pay cut would you accept to do something you like?
That said, a FAANG or bank would pay twice as much, at least. And I’ve deliberately avoided that out of preference for startups. So perhaps in that sense I’ve already taken a 50% cut.
And only regret it when looking at time-to-retirement projections.
30%-40% sounds like a lot. But it depends if you are sacrificing luxury or saving and retirement.
The equation I used is: income = monthly expenses + savings + retirement fund.
I think this describes everyone's relationship to work. If your current employer stopped paying you would you keep showing up? If the more fulfilling job stopped paying you, would you keep showing up?
Usually if I decide I want to change jobs I am looking for something that is both more fulfilling and higher pay rather than one or the other. If I did not have to work, I wouldn't.
I already do something I like, so not much. That said, a FAANG or bank would pay twice as much, at least. And I’ve deliberately avoided that out of preference for startups. So perhaps in that sense I’ve already taken a 50% cut. And only regret it when looking at time-to-retirement projections.
But about regrets: There are days that I doubt my choice too. Probably because I never experienced working at big corporations. Maybe I'm OK with them? Maybe I should go experience that for myself? But usually these doubts don't last long. And hopefully your more experience helps you never encounter these doubts! ;)
These days, I have a comfortable base of assets that generate growth/cash. Because of that, I can afford to take jobs that index better on qualities other than just pay.
Like you I do not care for my current job, but for a variety of reasons I am stuck for the next 2.
There is an old saying 'Enjoy your job and you never work a day' (because you are having fun). But if you are not meeting yours needs, then they become the golden handcuffs that keep you working because you need the gold.