Taking a pay cut ??

[Scrappy]

Since I feel you fellow hunters and I think a lot alike I was hoping I could bounce a question off you guys. I have been offered a job out west where I really want to be to pursue more big game hunting. The job is a 4.96 an hour less than I currently make. My current job really doesn't have a path up where as the job offer will come with a lot of job building skills to advance my career that could easily lead to more money in the future. We have no debt other than the home mortgage with quite a bit of equity in it. My wife is on board with the only reservation being the pay cut. She is an RN so she has no worries about finding a job.

Question is there ever a situation where it would make since to take a pretty good pay cut with no guarantee to get back to current rate of pay?

Thanks for any all feedback guys

 

[Buffinnut]

Lifestyle is way more important that money to me. I'd say go with what will make you happy

 

[Kasch]

That's roughly a $10,000 a year paycut. Only you know if its doable. I will say that chasing $ is no way to live a life. If you can make the sacrifice and have a better quality of life, I say its a no brainer.

 

[fmyth]

Have you done a cost of living comparison to see if it will be less than where you currently live? Perhaps the cost of living in the new area is also $10k a year less which would make it a lateral move. Also need to take into consideration the state income tax rate to see if that would be significant. I'd also take a quick look at what housing in the new area is going to cost you. Many Western states saw a big increase in prices last year.

 

[MuleyFever]

My wife and I quit our jobs and moved west with no jobs. Best decision of my life. My first job had me $4 under what I made before. My wife was about the same under her previous salary. My only regret is not doing it sooner.

 

[brimow]

As stated before.. One other thing to consider is what the cost of living difference will be from where you are coming from to where you are going. Could be to your advantage but also could mean that $5/hour pay cut is much more. I recently took a significant pay cut to take a position that would eliminate travel so I could be around more for the family. I didn't have to factor any other changes but financially it has been a big transition. It was a little more than you are looking at ($30k/year). I would do it again in a heartbeat though!

 

[3forks]

Pay cut = ”Lifestyle Tax”

Generally moving West is going to result in a reduction to your bottom line.

You‘re really the only one who can decide whether the reduction is worth the opportunity to live where you want.

I’d also look into what happens if you move and the job you moved for goes away. It sounds like your wife has a job that is in demand, but is your skill set something that will allow you to find another job in the event you lose yours?

 

[Marbles]

I took a $5 an hour pay cut with my last move. Had a job offer that was only a $1 an hour pay cut, but turned it down as the culture of the facility was not as good a match. So, I clearly see no reason to let a few dollars determine where I work, much less where I live.

I would compare cost of living. Moving from Arkansas to Alaska my pay increased by over $10 an hour, but when all was said and done I had no increase in disposable income. The move was well worth it though, and money was not really a consideration. What would have been a once in a lifetime trip is now practically my back yard.

 

[Ohio Darin]

You said it comes with a lot of job building skills to advance your career. There is a cost associated with this. This would have to be weighed. Saying that these skills could easily lead to more money in the future but then saying there is no guarantee to get back to your rate of pay is confusing.

To answer you overall question though - yes. A lot of it centers around being happy and passionate about what you are doing. Also, the cost of living where you are now and where you are heading plays a big part. This would also apply to your wife's earnings. Worst case you fail, move back home and start over.

My sister just recently quit her job in Chicago and took a lesser paying job in Florida. Her reasoning came down to the following:

• Her previous job was stressful and she was as high as she could go in that company.
• The liberal politics of Chicago were also getting stressful.
• Winters suck in Chicago.
• She now has a job she enjoys.
• Her property taxes are a fraction what they were.
• Her new house cost 30% less.
• She doesn't pay any state income tax now.
• Weather is nice in winter.

At the end of the day she took a lesser paying job for a better quality of life and when you boil down the various costs of living she has about the same $ in her pocket. Research everything and not just the salary. Good luck.

 

[wyodan]

I took a pretty significant pay cut to be able to enjoy my lifestyle more. I'd say do it.

 

[browning2480]

Your wife is an RN. She could pick up a few more shifts and make that up in no time Just joking. Like everyone else has said, check cost of living and state taxes. Could be a mute point.

 

[Scrappy]

Have you done a cost of living comparison to see if it will be less than where you currently live? Perhaps the cost of living in the new area is also $10k a year less which would make it a lateral move. Also need to take into consideration the state income tax rate to see if that would be significant. I'd also take a quick look at what housing in the new area is going to cost you. Many Western states saw a big increase in prices last year.

Yup the income tax alone would eat into the 10,000 pretty good. The housing market is quite a bit cheaper as well. Over all cost of living will be cheaper than here. Still digging into all the other comparable things like home and auto insurance.

 

[Scrappy]

My wife and I quit our jobs and moved west with no jobs. Best decision of my life. My first job had me $4 under what I made before. My wife was about the same under her previous salary. My only regret is not doing it sooner.

Sounds like us moving up here to Iowa in 07 with no jobs.

 

[Scrappy]

You said it comes with a lot of job building skills to advance your career. There is a cost associated with this. This would have to be weighed. Saying that these skills could easily lead to more money in the future but then saying there is no guarantee to get back to your rate of pay is confusing.

To answer you overall question though - yes. A lot of it centers around being happy and passionate about what you are doing. Also, the cost of living where you are now and where you are heading plays a big part. This would also apply to your wife's earnings. Worst case you fail, move back home and start over.

My sister just recently quit her job in Chicago and took a lesser paying job in Florida. Her reasoning came down to the following:

• Her previous job was stressful and she was as high as she could go in that company.
• The liberal politics of Chicago were also getting stressful.
• Winters suck in Chicago.
• She now has a job she enjoys.
• Her property taxes are a fraction what they were.
• Her new house cost 30% less.
• She doesn't pay any state income tax now.
• Weather is nice in winter.

At the end of the day she took a lesser paying job for a better quality of life and when you boil down the various costs of living she has about the same $ in her pocket. Research everything and not just the salary. Good luck.

Sorry about the confusion, the job building skills would help me build a better resume. Better resume for better paying job down the line. Just no guarantee of a better paying job in the future.

 

[ChrisAU]

I took a pretty significant pay cut to be able to enjoy my lifestyle more. I'd say do it.

This.

I took a $20k+ pay cut 3 years ago, and took a job with a lower ceiling too. But, I don't work nights or weekends any more, and I hunt a LOT more. And, get to see my family and friends much more. I miss the money some times, and it can be hard to change your lifestyle - I still struggle, and sometimes I buy shit I can't afford still. But overall my quality of life is greatly improved.

 

[thinhorn_AK]

I took a job with about a 10k pay cut back around 4 years ago. It ended up being a great decision but it was tough at first.

 

[fmyth]

Yup the income tax alone would eat into the 10,000 pretty good. The housing market is quite a bit cheaper as well. Over all cost of living will be cheaper than here. Still digging into all the other comparable things like home and auto insurance.

You might want to check into utilities as well. I live in AZ and my avg water, sewer, gas, electric and garbage is around 2400 a year. I have friends in Cal that pay 6 times more.

 

[John pettimore]

As has been mentioned numerous times already, quality of life is way more important than money. If it somewhere you and the family want to be and you can afford to do and experience the things you want, total income is much less important.

 

[browning2480]

One other thing to remember. If you decide this is what is best for family, expect friends and others to tell you that your crazy. Never fails. I made the decision, with a wife and 3 kids, to leave the military after 10 years. Everyone said I should stay in and retire, since I was half way through. Obviously we prayed and thought about that before we made the decision. The amount of time that I spent away and having my kids going to their 7th school weighed heavily into the decision.

I got a Corporate Job in Arkansas and have never looked back. Best decision I ever made, but everyone was sure it was the worst lol Amazing how friends and family know what is better for you than you do.

 

[kpk]

Sorry about the confusion, the job building skills would help me build a better resume. Better resume for better paying job down the line. Just no guarantee of a better paying job in the future.

There's likely not a guarantee of keeping your current job in the future either.

I'd do (and have done) what you think will make you happier in the long term.