A few months ago, I vented about job search hell. I just hit my fourth months of unemployment. I am in my early 50s with lots of energy, solid work experience and willing to travel. The kids are grown so I can dedicate myself to the job.
Despite my network trying to help me, so far I have netted two interviews in my field on my own and one hr screening that I am waiting on. The two interviews were unsuccessful because the hiring managers wanted very specific things and were not flexible, even after I pointed out that given my experience this would not be an issue for me to learn quickly. It is obvious that they are having a hard time filling those jobs because they keep getting posted. Other applications have gone unanswered and my network keeps saying oh maybe something will open up in a few months.
Frankly, I am getting frustrated so I have started thinking about taking a lower paying/lower stress job. Originally, my life plans included exploring transitioning into a lower stress job once D2 was 3 years out of college. That would be 5 years from now. However, when I originally thought about those plans I was employed with a great salary which would have allowed me to pay for college out of salary and savings and then after her graduation actively bank the money toward retirement. Now I am seeing my personal savings dwindle and the college savings will be 0 by next September, which will be her junior year.
I am looking at an opportunity working for a foreign government agency. I have a separate post asking about the risks of taking on that type of job. Anyhow, the job itself is quite interesting and less stressful. My conversations with this agency have been very friendly and professional and allows for travel to their country, which I have always wanted to visit. The downside is the salary is about 50% of what I was making before. Should I just jump in now to do what I was thinking of doing five years from now? I don’t know. Money will be tight, but it is better than 0 money in a few months. What if an opportunity in my industry finally opens up once I am committed to a new job. I would hate to just leave. I would like to hear your unbiased opinion. DH thinks, why not, but then he is the optimistic side of this relationship.
Do I miss my old job? I miss the work and the paycheck. I won’t say that I don’t feel I got burned and blind-sided after giving them 15 years. The corporate world does tire you out with its constant need to change things, production targets and annual goal setting, etc. There are some interesting jobs in my field that I wouldn’t mind going back to. The problem is do they want me.
I agree with your DH. Go for it! I’m 55 and not on totally safe ground financially, but if someone said to me, “interesting, less stressful, and 50% of your current pay,” I’d seriously consider quitting my current job for the new gig.
Take it for now, enjoy the benefits and the fact that it appears you will be appreciated and respected. The tradeoff of a lower salary may be worth it. There may be other opportunities for advancement that you may not be aware of. Should an offer in your old field become available, you will then have a basis for making an informed decision of whether or not to return. Best of luck.
There’s an old rule of thumb that for each 10k of salary you should figure 1 month looking for work. So if you were making 60k then you’d figure 6 months of job hunting. Not sure if that rule still hold today given turmoil, inflation, and change in the economy and job market though.
It might depend on the industry. My counselor at the outplacement said it took him 15 months and he took a 50% cut in pay. My industry is trying to recruit younger people in. In fact, some of their websites are actively asking Millenials to apply. A lot of openings are for 3-5 years experience. Sure, there are some that would prefer experience but I don’t see as many of those.
Are you getting unemployment bennies? Be careful and check your state rules - your state might require you to take the first actual reasonable offer or you might lose the bennies. This was the rule of my state when I was unemployed. Not intended as a legal advice because I am not a lawyer or even pretend to be one.
This is exactly what I was “forced” to do, in 2004, after getting poisoned by toxic mold, and then being out of work for more than 2 years recovering. Initially living on, and adjusting to 1/2 my income was a bit of a shock. Fortunately I had never really lived beyond my means, and had a decent savings account (for a single mother), so literally paid off everything I could over a 3 year period. Took that part-time, far less stressful job, and made it sing! Showed (rather than told) everything I brought to the table, and today, I can say, it’s been the best thing for me. I have embraced not retiring, but instead working p/t, for as very long as I can. I do not have benefits - although I was able to negotiate 3 weeks (24 hrs ea) of paid personal time yearly, based on a loophole I discovered in the employee handbook - I work about 5 miles from home, so no more commuting, and as a p/t worker…no overtime, no taking the work home with me (physically or emotionally!!!), I have 3-day weekends every week…in a nutshell…no more stress. That means I have time to do yoga on the beach (by myself, I don’t pay for classes), mediate and walk daily, eat healthy meals (because I have time again to cook!), I take one “real” vacation a year, and more. The next couple of months are the “tricky” months for me, as my work days fall on holidays and I don’t get paid for those (no loophole there!), but I’ve planned for that, so I’m ok.
Take the lower stress, p/t work, and make it work for you.
Agree, I just did that (took a lower stress job). So glad I did. I still want to work about 5 more years, but was really hit the age problem although no one can admit it…you can tell from the words HR people use that age is very much a factor. As a sibling told me, young people job hop and more than 3 years is considered “long term” these days so do the low stress job and if in a year or two a “big” job comes along you really want and they want you…jump ship like the young people do.
Take it. I was “retired” for 5 months and was going bonkers. You ever know when this opportunity may come again. As my DH used to say, if you hate it just quit.
After many years of H and myself working at quite a few different companies, I’ve decided that loyalty to any employer is just foolish. If they decide they don’t need or want you anymore, for whatever reason–a new CEO who brings his or her underlings with him, a shuffling of the deckchairs on the Titanic (otherwise known as a “restructuring”), a decision to shrink or reorganize staff–it becomes clear that no employer has a whit of loyalty to any employee and doesn’t deserve any in return. If you take this job and something better crops up, you give your two weeks notice and move on. You’re the only one looking after your own best interests.
Take the job. And if you want to, keep looking in your field. It is always easier to get a job when you have a job. Many employers nowadays won’t even look at someone who’s unemployed, even through no fault of their own.
Wow, the overwhelming majority recommends to take the job, even with the pay-cut. Thank you so much for your comments and sharing your experiences. It is really amazing how people are starting to value a better quality of life over money.
If you want this job - take it. 1/2 a paycheck is a lot better than no paycheck.
However, I skimmed the other topic you started and there are some concerns about working for this particular employer. If you are giving yourself permission to take a 1/2 salary, look at jobs at this salary level that at least pay their share of taxes, provide paid time off, health insurance etc. If you take such a job with a different employer, maybe a large corporation, you may have the option to return to the level you were at previously (manager?), or stay at low-stress job you take initially.
Colorado_mom, this job will not require relocation. So that’s fine. If it required relocation, then I would require a better salary. Twicer, yes, the concerns are with the manner salary is paid. The IRS allows this for foreign governments. I am still getting more information on that to see if it makes sense for me. However, the time off benefits are pretty good and fully paid.
