Potential Career Earnings dilemma.....please help

duchy

I think you really need to decide if you have a vocation for midwirery -and if you do if it's enough or if your (essentially single parent financially) plans require a career with better guarantees and which ultimately is more important to you-financial success (in a job you like but isn't a vocation) or a vocation that will earn you a good living but the odds of progressing to an excellent salary are less likely but not impossible (there are far more prospects for top paying jobs in finance than in midwifery-simply more jobs to go around).

If you make moderate progress in finance you'll be earning far more than if you make moderate progress up the midwife career ladder.

How important is making really good money -and if things don't work out -is been a midwife on a lower grade with maybe more job satisfaction but less money going to be enough ? In other words how strong is your vocation -is it strong enough to survive through NHS cuts, pay freezes and fewer promotion prospects ?

Only you can decide.

MiddyMum

Thanks Duchy,

Wow this is hard....I mean, doing a job you absolutely adore is what carries you through the difficult times in life yes?

I have 3 weeks to make my mind up for good as that's when my application goes off...:-/

duchy

Yes it can but for some......and we're all different- the rewards of doing a job that gives some satisfaction but the means to do so much more when not working (nicer home, ability to afford good holidays, a pony whatever) is a good trade for some and a bad trade for others.

mildred1978

duchy wrote: »

If you make moderate progress in finance you'll be earning far more than if you make moderate progress up the midwife career ladder.

.

Depends entirely on the area of finance concerned! There will be other 25 year olds with better qualifications and experience competing for the same jobs.

There are no guarantees of better money or progression prospects in either area I'm afraid.

MiddyMum

Well....


I am going to stick with my plan for midwifery...I have a genuine passion for the career, but only an interest in finance. I am not sure if simply having an interest will see me through the hard exams I would need to take to become qualified as a Chartered Accountant. I need to have a passion fo it, and I only have that for the path I am already on.

One of my friends is a staff nurse in London and she has told me to reconsider the whole working in London thing. She said career progression tends to be a lot quicker in London as there is a very high turnover of staff (people leaving london etc). She has been qualified 2.5 years and is already a sister. My starting salary in London would also be 30K, it takes a little longer to work up to that elsewhere. That is a very good starting salary in my opinion. I would then have my shift allowance and overtime, and agency shifts to top up my income. Also, the govt offer intermediate rent schemes for key workers, i.e a new flat would be rented to me at 20-30% below the market value to enable me to save for a house deposit. So, all is not lost from that perspective. My partner is supportive, he is no Richard Branson but he said he will most likely be able to earn 25k by the time I have qualified (I can always hope :rotfl:) If that ever came to fruition and he did get his act together, we would have a combined income of 55k once I graduated. I feel that I have to accept that I might have to scale down some of my ambitions but I really do believe that my work ethic will get me to where I want to be anyway.

I consider myself to be quite a thinker/philosophical type of person and I can't guarantee myself that if I pursued a financial career, in the future, I won't feel slightly cynical about the pursuit of earning more money as I already know that it is not the be all and end all. I am not a materialistic person, but I guess lately I have felt that I am a little behind where I should be for 25, but there are reasons for that and I shouldn't beat myself up over it, it could be a lot worse.

I guess this was a head over heart decision and I will just go with my heart.

SandC

If you have something that is a 'heart' career then grasp it, take it, do it.

We work for a long, long time. If you are lucky enough to have the opportunity to do something you actually want to do then count yourself fortunate.

I never knew what I wanted to do, still don't really at the age of nearly 42. I have a decent job and I work for a great company but that's what it is to me. A job.

Midwifery IS good money by the way..... to get good money in the accountancy world you have to be ruthless and focussed purely on career, probably at the expense of other things. I earn nowhere near what a midwife earns but I'm comfortable in my life. You do learn to make do with what you have...... and that's usually more than 'managing'.

camlo

I think you are doing the right thing applying now as there is huge competition so getting on the course is a hurdle to be jumped first of all.
I commend your ambition but try not to pin all your hopes on progressing through the pay scales. The reason higher grades earn more is because they carry much more responsibility and until you have experienced those stresses you cannot know whether it is for you or not. A lot of midwives become demoralised/ burnt out / fed up of poor conditions/ scared of litigation and the drop out rate is high - this is not because they weren't good enough to start with but just that midwifery is a tough career and deserves recognition as such. Also as you get promoted you move away from the 'hands on', rewarding sides of midwifery and this may not be acceptable to you. As a student or volunteer on the ward you are more likely to have seen the nice sides and not witnessed those senior grades sweating over budgets, poring over legal cases, completing endless audits/ policies/ answering to the board etc. Lastly - yes there are opportunities but in my area you will have stiff competition and progression certainly isnt guaranteed.
I had one child when I started my nurse training, I worked nights and studied loads to achieve more qualifications so I could push up the career ladder. Yes I have a house, yes I have a good salary but NO I wasn't there for him growing up and missed lots of school concerts, harvest festivals etc etc which I cannot recover (working Christmas day 4 years on the trot used to break my heart). Personally I don't regret my decision to enter a 'caring' profession but I have compromised my heart for finances in the quest for better lifestyle and I am envious of those who have photo albums full of memories with their children instead of mine which has pics of my son on holiday with his nan.... He doesn't thank me either.
Sorry that turned into a big moan from me..... Wasn't supposed to be! I am a huge fan of midwives and having been present at lots of deliveries I can only say I was glad I wasn't carrying the can when things get scary! Good luck!

MiddyMum

Thank you Camio and SandC, I really appreciate your wise words.

Camio your experience of not being able to spend that much time with your son worries me. 4 years worth of working Christmas's is so unfair.

I am feeling a little deflated today, just don't know if I am making the right choice. Was on mumsnet earlier, and there is a nurse complaining about her salary. I am scared I will end up like this.

mildred1978

MiddyMum wrote: »

Thank you Camio and SandC, I really appreciate your wise words.

Camio your experience of not being able to spend that much time with your son worries me. 4 years worth of working Christmas's is so unfair.

I am feeling a little deflated today, just don't know if I am making the right choice. Was on mumsnet earlier, and there is a nurse complaining about her salary. I am scared I will end up like this.

Im not sure what you expect. It's the same in any of the emergency services. It's not uncommon to have 1 Christmas off in 7 years.

I have family members in this situation. We just do Christmas another time.

MiddyMum

mildred1978 wrote: »

Im not sure what you expect. It's the same in any of the emergency services. It's not uncommon to have 1 Christmas off in 7 years.

I have family members in this situation. We just do Christmas another time.

Yes I know, it's just usually some ward managers will see that someone has worked the last two christmas's and then will alternate it the 3rd year so you do the night on christmas day and have the day to spend with your family. It doesn't happen on all wards, but it does happen on some which is why I said it was unfar in camio's case. Although there could be staff shortages there too.