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and did it pay the highest?
Met up with a high sch classmate today. He works as a senior accountant. He doesn’t fancy his managerial role because he has to chase after people - sometimes, overseas partners - for their work. He also doesn’t relish reviewing his subordinates’ work.
This context is important because he was retrenched recently. But, his skills are in demand, so he underwent an interview yesterday.
During the interview, the interviewer informed him that the senior accountant post he had applied for would most likely go to another candidate. So, would he be interested in an accountant role?
That would mean a pay cut of 30%. But it would also mean that he doesn’t have to manage people anymore.
What would you do if you were him? Have you encountered a similar situation before and chosen a pay cut so that the job aligns more with who you are?
I have some thoughts about this. I once took a big pay cut for similar reasons and it turned out to be a good decision imo. I may write about it soon
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Yes, please! I will hold you to it.
I gave non-committal responses throughout the chat, but couldn’t help myself when we were about to part. Basically I said that he should just take up the accountant role because he has been wringing his hands these few years about how he feels that there is a misfit between his job(s) and his personality. He should just bite the bullet and see if he would lead a more stress-free existence without the managerial part. As for money, well, we spend what we earn
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Yep, my situation is a bit different from most though because my pay cut also meant I would have more time, not just less stress. I was able to actually use that time on some part time work that has proved very fruitful. Will definitely plan on writing it up soon!
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30 sats \ 0 replies \ @gmd 21 Mar
Time is the one thing more valuable than BTC!
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Is that part time work pinning down the Web of Trust on SN? 😉
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Haha it's related I guess
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Managing people is a pain in the ass but I wouldn't take 30% just not to manage people. I would suggest he gets better at managing people so he doesn't hate it so much.
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I probably would take that pay cut. Managing people, especially if you aren't the ultimate boss, sucks.
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That’s a valid point. Grab the bull by the horns and make peace with it.
What is your management style?
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30% pay cut is too much. That's like all of my money for bitcoin gone, and I'd do a lot of shit if hate right now to keep on stacking.
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Woah, if you put it that way, his dilemma simply vanishes, haha. I don’t think he keeps track of his finances so meticulously, so it will be hard for him to articulate what he will have to give up if his pay were reduced by 30%.
Working now?
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31 sats \ 2 replies \ @gmd 21 Mar
Could be worth it if he gets back 30+% of his time.
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The thing is 30% of my time is practically worthless compared to what I will get for it later.
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21 sats \ 0 replies \ @gmd 21 Mar
Haha definitely true when you are young.
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I'm in the process of considering something like that. I'd like to get back to teaching on a flexible academic schedule (not the kind of rigid schedule you have to keep). I don't find the current economic research environment very rewarding, although I like doing some parts of it.
I probably brought the most to my job in a math tutoring center. It was an open room with students working on all different levels of math and various other related courses. Bouncing between students struggling at completely different levels and who had totally different personalities required a lot from my analytical and interpersonal capacities.
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Teaching on an ad-hoc basis would be nice. It’s like being a full-time part-timer. Meeting different students, gathering different experiences.
The math tutoring centre sounds fun but insane. Since we practise streaming here, I always teach students who are of similar capabilities in the same class. I don’t know if I can survive tutoring students of myriad levels within the same period of time!
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In some ways, it's similar to SN. We often have lots of parallel conversations going on on different topics, at different levels, and with different people.
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Really comes down to what matters more to him, money or peace of mind. Some people like being in charge, while others just want to do their job without the stress of managing people. If he can afford the pay cut and would be happier, it might be worth it. But if he cares about career growth, stepping down could make things harder later.
I know people who took less money for less stress, and they were glad they did. Others regretted it because they felt stuck. Maybe he could try to negotiate for something in between, like a senior role without having to manage people.
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Thanks for articulating the pros and cons of both sides so clearly. I guess ultimately there is no right or wrong answer, only the answer that is right for you
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I think it's important to step back every so often and detach the value of your life from the number amount of your salary.
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That’s why you’re my tribe haha
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This is a multi-factorial matter. If the salary cut does not affect my family's livelihood, I will definitely choose it. Yes, I have had this happen before. At my previous job, I had to choose between receiving the same salary as before (but with this I would have had to perform new tasks, which would have meant several days of delegation per month) or staying in my previous role in exchange for a salary cut. I chose the pay cut primarily so I wouldn't have to be away from my family for 6-7 days a month, and the "new" salary wasn't that bad either.
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Ah, I think if it were my friend, they'd have to think it through. If they're really tired of managing people and it's affecting their well-being, maybe the 30% pay cut is worth it, you know? Staying in a job just for the salary and hating what you do doesn't make sense, right? Especially if they like the technical side of accounting more. Less stress, less pressure to chase people... sounds like a relief, honestly.
Of course, if the pay cut isn't a huge financial problem for them, it's a chance to focus on what they enjoy more, and that could be more satisfying than staying in a job they don't like just for the money. The big thing is seeing if, in the long run, they'll stay motivated in this new role, and if they have a chance to grow, or if they'll be a bit stuck because of the lower pay.
Personally, I've seen people go through this, and they end up choosing work that really fits their lifestyle, even if the pay isn't the same. The thing is, sometimes when the money drops too much, people start missing the luxuries, right? So, they have to see if it's worth making that "sacrifice" for a more relaxed job.
If they don't care much about the money and want a more peaceful life, I think the pay cut could be a good move, but it's a very personal choice. The vibe of a job that gives you mental peace can be worth more than any fat paycheck!
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I’m with you. Mental peace is everything! Thanks for sharing your truth
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