What do you do when offered your dream job at a 40% pay cut?

[Alacrity]

Yeah, I know, then it's not your dream job

But seriously. I work in finance as an IT geek. Why finance? Because that is where the jobs for IT are and pay well.
2 years ago I got the chance to do the IT for a brand new children's hospital.
https://www.youtube.com/watch?v=D2G5_BBSq9c
https://www.youtube.com/watch?v=re6Fsmjmzfo

I consider that job to be the best of my career. The one I always talk about when people ask me about my most challenging job or the one I'm most proud of. I didn't think I'd ever repeat that. And honestly, it was amazing.

Yesterday I interviewed at a hospital for a job that included EPIC, infrastructure, blah blah blah. I went simple because I wanted the practice interviewing at a hospital in case I got the chance to try for something I wanted. The pay sucked, the job was boring, I felt guilty about wasting there time, but I figured I could use the practice.

Then in the interview I almost literally fell out of my chair when they wanted me to help design the 'hospital of the future'.
My interview notes went out the window and we talked about technology. His list of questions went by the wayside also.

It's an hour commute (Children's was a 1 mile walk). But in compensation I can do 4-10 hour days. At Children's I was doing 10 hour days anyway.

But the pay sucks.
We are a couple of years out of residency and have student loan debt etc. It would mean a life style change.

Advice?

[MAPPLEBUM]

When you say dream job I think "do it." When you say lifestyle change I think "eekk...."

I still think you should take the job. That whole adage about doing what you love and the money will follow. I've lived by that, and money has followed....just not a lot of it. Would you regret it if you didn't take the job? Always look back and wonder what it would have turned into? Or if you took it when the excitement wore off would you resent working below your worth?


I do think the prevailing advice is always to choose the job that's best for you, not necessarily the highest paying. Especially if this one can open you up to new possibilities.

[medpedspouse]

I would do it in a heartbeat because it sounds like an opportunity that could lead you to a higher paying job later. However, I would rather be paid less (like I am now ) and have a better quality of life. Yes, you have the student loans...I gave them too but the amount of time that I have lost with my husband/family is a bigger issue to me. DH and I have chosen to be paid less but have a better quality of life. For us, time is more important than money...just my 2cs.

This position is your dream job - can you negotiate any other "perks" to offset the pay cut?

[poky]

My time off is precious, so 4x10, if I really can leave 10 hours after I get there, would be great; I REALLY want to be able to have 3 days off per week. An hour commute *CAN* be OK if you can accomplish something during it; lectures, podcasts, books on tape, learn a language, etc.

If the lifestyle change isn't huge, and it just delays the getting out of debt thing a bit...
how does your other half feel about it? Will there be resentment of the longer hours due to the longer commute, or is the extra day off worth it for her as well? Is she OK with the pay cut if you'll be happy? Do you have a plan for if it isn't actually as great as it sounded in the interview?

I'd lean toward going for it, too.

[Alacrity]

I'm currently working for a High Frequency Trading company making a bunch of money. (If I compare it to this it would be a 60%% cut, but I can't take this much longer)
Doctor Wife had a mid life career change so we are working hard to make up the lost time.
A year at the hospital job means putting of retirement 6 months.

Basically, my salary goes toward savings.

[HouseofWool]

I think passing up your dream job when you have the financial wherewithal to do it would be a huge mistake. My guess is that this will be one those opportunities that will allow you to set your course going forward.

[MrsC]

I'd go for it.

[TulipsAndSunscreen]

This happened to me recently (not dream job but pretty close and a much, much better QoL than my current job). I did not accept the job. We're in residency and cannot swing that type of paycut - I'm by far the breadwinner. If my spouse wasn't in residency, I would have done it in a heartbeat.

Good luck! Keep us posted!

[Thirteen]

The paycut sucks, but if you can still afford your bills and have a cushion, I'd say do it!

Think of it as a building block to what you love, and the pay you will (eventually) earn, doing what you love.


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[Curegirl]

I'd say yes in a heartbeat like the others said. If you can afford to eat and pay bills, yes for sure.

[Pollyanna]

I think passing up your dream job when you have the financial wherewithal to do it would be a huge mistake. My guess is that this will be one those opportunities that will allow you to set your course going forward.

Exactly this!!

[Alacrity]

It seems I have 100% agreement from both my friends and everyone on the board.
(Now won't I be embarrassed if they don't offer me the job)

Is there a polite was to say ; I'll take it no matter what, I knew what the rate was when I went in. But I would really really really like more money?

[MAPPLEBUM]

Can you be honest? 'This is my dream job but it will be really difficult to take such a pay cut' and then see what you can negotiate?

[alotofyarn]

If I could afford the pay cut, I'd definitely do it. I would definitely try to get as much as possible out of them though, either with salary or other compensation (benefits, whatever).

[Alacrity]

Just got off the phone with the wife (she got in at 5:00 am and didnt want to wake her)

She told me to go for it. I told her I felt bad about the loss of income.
She said that I supporter her through residence and medical school.


Good wife.