Job move - lower paying job

Clownfish68

Hi all, 

Really stressed out and could do with some advice normally I’d ask my dad but sadly he recently passed away. 

So few months back I applied for a job with a local authority and was accepted on full pay for the band (capped at 30k). This is about 8k less than I currently earn but no longer doing a commute two days a week at 100 miles a day. When I did the sums at the start it all balances out in terms of less pay better pension but now I am really doubting my decision with how inflation will eat into our finances (partner works part time to look after our child so earns roughly 14k). We don’t go out as it is so really comes down to food/energy as our biggest inflation concerns. 

I paid off my credit card/car loan in full to balance finances I have no debt with the exception of a large mortgage (750 a month but will own 50% equity at renewal hopefully if the market calms down in two years mortgage payment should drop by this point as I’ll be overpaying depending on rate but fingers crossed it will be around 600). Essentially on Councils pay it would even out to my current net income but when I apply an extra 150 to my bills to account for energy/food to account for biggest changes it drops to about 300 a month spare. Energy bill is currently in credit of 1k acting as a buffer for the next year.

Honestly don’t know what to do. I don’t want to burn bridges with the Council but reality is can I really afford not to. My reason for wanting to leave was to be closer to home and potentially threat of redundancy due to an acquisition but I don’t know if my anxiety has caused this on its own (separate entity under house builder so not really an issue of two companies merging). Work in private sector for a house builder so obviously if recession hits I could be up for redundancy anyway. 

Got a meeting with my manager later this week as I’ve pretty much been told he wants to say door is always open. Any advice? 

theoretica

Do you have an idea about how flexible your working arrangements with the new employer could be?  I am thinking of whether you could arrange hours which let you take on some of the child care and freed up your partner to work more.  Are your child/children coming to ages where they need less care?  Making ends meet, security, better pension and less commute would suit me, so it sounds attractive.

Could your current employer change your working to have less commute?

Clownfish68

Pretty much said two days a week. To be fair the commute isn’t really that bad these days use to be a lot worse. I think what makes it difficult is my mother in law who is useless won’t look after her until 9am (doesn’t work) so cuts into my time getting to work and then need to finish early but that’s only one day a week. When free childcare kicks in that won’t be a problem. 

She’s 2 so we have over a year before  free childcare kicks in which is why I put a buffer on our energy bill until that kicks in. Unfortunately partner works in civil service herself so we doubt they would be open to letting her back full time which is my main worry if things do get bad we’d need the extra income which wouldn’t be much but pays a bill takes a bit of the pressure off etc.

New employer very flexible with working hours etc and only 20 minute drive so I’d work from home in the office a couple days a week but would manage flexi better. 

Jillanddy

Wow, your mother in law is useless because she won't dance to your tune and provide free childcare when you want and expect it? Your choice to have children,  your responsibility. Nobody owes you because you have procreated.  You need to do a reality check. Perhaps people might be more accommodating if you didn't come across as quite so entitled? I don't doubt your MIL is unaware of your approbation. In her shoes I wouldn't be up for free childcare to accommodate someone with your attitudes either. 

Mrsn

Perhaps you could run your details through a benefits entitlement calculator such as entitled to or turn2us to see if you have any possible entitlement to Universal Credit? It doesn’t sound like it from your opening post but should you have any savings of 16,000 or over you would not be eligible but it is there to help working families as well as those who are unable to work.

Grumpy_chap

For the £8k lower salary, you gain improved quality of life through the reduced commute plus increased future pension.

The £8k is reduced for take home pay.  20% income tax £1.6k.  13.25% NI £1k.  £5.4k take home lower = £100 per week.

You will save the commute costs of 200 miles per week.  You will know how expensive your car is to run but using 20 pence per mile that is a saving of £40 per week.

The difference is about £60 per week in available funds.  Considering the reduced salary and the reduced commuting.

Are there factors that alter this outcome (in either direction)?  I don't want to suggest that £60 per week is insignificant, but just trying to show that the impact of the job change is not as simple as £8k less per year (£150 less per week).

One tools that might help you would be to do an SoA (Statement of Affairs) - there are examples available in the DfW forum.

kimwp

Unless you are already aware of this, worth looking at what the "free" childcare will cost you - as far as I can tell from friends with kids, it might be that you can only get half a day free, that they charge you for "extras" like meals etc.

mcpitman

OP - are there no chances of moving up or across at your new employer?

Before going back to where you were before, seriously think about why you left and the reasons.

ian16527

Quality of life/ or making life easier is a big bonus. 

Plus the pension benefits. Perhaps there will be promotion available in the future. I would go for it if it makes your life a little easier.

I did the same thing a few years ago as I couldn't stand the commute as I got older.