Harvard Business Publishing is an affiliate of Harvard Business School. Here are seven situations in which it makes sense to take a cut in pay. I don't regret it ever. From my personal experience, take the pay cut and go be happy. I was in a full time role where I was made to feel worthless and where I was discriminated against. I quit and moved to Ireland, taking a 40% pay cut. However if this were in a job I preferred I anticipate this would not be an issue. Has anyone taken a pay cut in the those levels for the same reasons? I am considering requesting reducing my hours even more than my 30 hours a week (four days) ... for lifestyle/to escape. But what are we really searching for when we say we want more “meaning,” and how does it differ from happiness? I’m now home everyday, get to have a life, see my friends and family (all of which I hadn’t really seen for almost 6 years) If you can afford to do it- do it. It was exactly what I needed at then time, until it wasn't. She found happiness by trading a six-figure job putting out HR fires for a hospitality corporation for her current, lower-paying position doing staff professional development. 3 in 5 Americans would take a 50% pay cut for a job they loved. According to research on happiness and meaning conducted by psychologist Roy Baumeister and colleagues, five factors differentiate meaning and happiness: The distinctions above provide guideposts on steering your professional life toward meaning, which, as research by psychologist Pninit Russo-Netzer found, can ultimately lead to happiness as well. Boden have done it again! She even occasionally still picks up a couple of bank shifts here and there for some extra cash when she needs if, so maybe that’s something you could consider? Susan Peppercorn is an executive career transition coach and speaker. That said, being skint makes everything stressful. Take Jon (not his real name), for example. The salary is £25,250 per annum which would work out at about £1750 net monthly full time. In a recent study, Shawn Achor and his research team found that nine in 10 people would be willing to swap a percentage of their lifetime earnings for more meaningful work. It depends how much less money and how much more happiness. So if it is a big pay cut, I would keep looking til you can find something which pays the same as you get now. I decided to retire earlier than planned and left last year at the age of 58. Here is what they have to say. To Find Meaning in Your Work, Change How You Think About It, 5 Questions to Help Your Employees Find Their Inner Purpose, You Don’t Find Your Purpose — You Build It, Ditch Your Inner Critic at Work: Evidence-Based Strategies, 25 Steps to a Successful Career Transition. Mental wellbeing is very important. After college I moved away from home for a job. Although he was flattered to be courted for this top role, he was searching for more from his work, including long-term career satisfaction and engagement. It was such a shock to find that colleagues could actually be kind to one another!! Research shows that making work more meaningful is one of the most powerful and underutilized ways to increase productivity, engagement, and performance. 91% Upvoted. Philosophers, scholars, artists, and social psychologists have struggled to come up with an answer to that question for years. That said I took a big pay cut this year to move from private to public sector. I left corporate banking on a really good salary (I thought) when I was 42. Here are four practical steps you can take to bring more meaning into your work: Living with meaning and purpose may not make you happy — at least in the short term. I loved my job. I used to earn about 39,000. I am also hoping in a different job I might be able to make more friends as in the one I'm in now there is very little camaraderie in a very stressful job and staff keep their heads down - and no one socialises outside work - creating a lonely working experience. I plan to work enough take home 750 a month. Life is short. I do think however being able to pick your own shifts is priceless. Or you are given all the rubbish shifts / double backs etc? Basically, happiness is everything so you need to do what will make you happy. You Want to Stay Employed. He started a biotech company, which he successfully grew to over $2 billion in revenue. Yes. Best thing I ever did. I was completely burned out and never wanted any responsibility ever again Now, at 50, I've gained new qualifications, am at my third school and a member of SLT on much the same salary as I had in banking, but with much more time off and no expensive commute. I left 2 years ago and took just over 50% pay cut. My physical health was also suffering (too much snacking for instant energy boosts, too little exercise and a very sedentary lifestyle with no energy to exercise, or do anything much, when I arrived home exhausted at 8.30pm, having left the house before 7am. AIBU to be thrilled that he will soon by dying of shame? According to research by psychologist Roy Baumeister and colleagues, five factors differentiate meaning and happiness. An alternative solution is to make meaning your vocational goal. 8. I was pretty well paid. It was only 300 miles though, which let me drive home quite regularly. If it will make you significantly happier you should do it, but be sure it isn't just a case of 'the grass is greener'.I am in teaching and went part time 4 years ago, down to 3.5 days, taking a 30% pay cut. To comment on this thread you need to create a Mumsnet account. I also had a three hour commute. I am married with two grown up children (so no dependents) and could afford the drop but would not be able to save as much as I can now and lifestyle would need to be adapted. Just over a year on, I have no regrets. I have have always been lucky with a good ability to manage stress, but I found I was becoming less able to deal with it. This is page 1 of 1 (This thread has 13 messages.). That's four girls in my DD's friend group who are trans now. This is page 1 of 1 (This thread has 15 messages.). I was working long hours, but there was still more work than I could manage. I was constantly juggling things and as soon as one thing was sorted out, new urgent priorities would present themselves. I was so unhappy in my old role and incredibly stressed. I would also need to work full time. So yes, I took a big pay cut for the sake of my happiness and wellbeing but nothing has to be forever. Not that level of cut as he wasn't earning a massive wage beforehand, but DH- changed both his place of work and his hours, dropping to 3 days a week on pretty low pay for his physical and mental wellbeing and to better support the family. Has anyone taken a significant pay cut for happiness? Now I know I am the only person who can really make a decision to swap more money for improved quality of life but would be very interested in hearing from those who have made similar changes to their lives with positive effects.

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