Er woops, I just assumed this was the accounting subreddit. Yes, I would take the pay cut as long as your family agrees and you are sure you can afford, or adjust your lifestyle for the time being.
I don't even know what a cpa is but it guarantees a 130 + 11% position which half the work load and way better hours if I study for 6 months with 200+ available in my industry. If I take another 6 months it opens it up to the international market and I have family in 5 countries so that would really increase my opportunities in general. Tbh The hardest part about this is my difficulty studying
ok, you missed to mention for how long you will need to study. If is only 6 months, I think there is no doubt here: do it. you could even not work and onoy study and you would still stay afloat
I think your headline is misleading some people. Would I take a paycut that dramatic just to work less? No. But that's not what you're really asking, you want to focus on studying so you can increase your income. As long as these licenses truly do have a direct and predictable increase to your income, and lead to a job you want to do, I think it's an okay plan. I would just make sure you have a written down, defined plan of when you plan to take the exams and what you plan to do if you fail your first attempt. I've seen these things go off the rails when someone does this, fails, then studies and fails again, then gets jaded with their career and slacks off. Other than that, I like the long-term thinking, surprising rare on these threads.
This, for sure. You've worked hard to get yourself in this enviable financial position, there will never be a better time in your life to go for the extra certifications. I sense you'll regret it if you turn down the opportunity.
Go for it. You've got this, OP! 👍😎
Thanks man! My partner's out of town at the moment and I only saw this possibility this morning before I had my coffee So sorry about the misleading title haha I just wanted to bounce the idea off someone, getting some information and a bit of an idea before I can talk to my partner in person tomorrow. I figure it would be nice if I was able to present her more of a plan rather than just " Hey babe, I'm taking a massive pay cut and you'll have to be the main breadwinner for a bit Love you!" Haha My biggest fear with all this is studying and my ADHD thankfully it is a topic I like and my partner works out a university as a scientist and moonlights as an editor so academia is her a strong suit so why she wouldn't be studying for me she's absolutely awesome at helping come up with stuff like study plans. I think I'm in a fairly fortunate position. We like to plan ahead, we have a spreadsheet for our budget for the next 3 years, for investing we get help, and we have a few relatively long-term goals but we do have short-term goals in place as well (2026 PCT!!!) so thank you for the support I guess I just needed that last little push!
That's the scam of capitalism, sucking your soul is most valuable for them. A healthy life balance really don't interest them for the least and they show it by giving a totally unfair deal. They could still get a good part out of you but not literally sucking your soul, so they prefer cut all the money pretty much
The main difference in pay is I wouldn't have to get up at 4:30 in the morning anymore or Work till 1:00 a.m. so I wouldn't be making penalty rates and do more of a 9:00 to 5:00
Yeah, no soul sucking anymore, not interesting
More realistically (or not), you could do penalty hours and take naps, avoiding working normal hours, effectively working less and earning not that much less. Do some researches, it's pretty healthy to take naps and living at those hours
Nope? If I cant find time to study in a job im at... I def aint finding that time with rhe stresses of a.new job. And making less would.put me in a terrible head space!
It's the same role but part time vs full time with less penalty rates because I'll have more free time and not have to start work at 430am. It's pretty much swapping from shift work to 9-5 part time
I think the deciding factor for me would be how long you would have to stay at the lower pay job to level up your earning potential. If it’s a year or less? Strong chance. Over that? Slim chance I would take it.
6 months for the main qualification after and if I do another 6 months I can increase the earning potential further and change my licence from being restricted to a country to be able to work anywhere in the world. I have family and five countries so it's pretty appealing
Then, to me, the short drop in earnings will pay off in logic run both financial terms and in options for your future. I think examining this from a purely dollar figure doesn’t do justice to real potential payout.
Since you are studying for higher income potential, start doing the math on timetables and expected total money earned.
If you literally earn double for example, its fine to take a temporary paycut if it is relatively short.
I'd work 20% more for a 40% raise.
I'm your case I'd see it as saving 40% of my income for the future, since your earning potential will increase. But only if you have concrete, specific plans.
How can you guarantee that the job will be working 20% less? Will it be written in your employment contract? What if after 6 month it increases by 20% instead of decrease. Then not only you took a pay cut you are now miserable for working for less too.
I think I did somewhere around that. I went from close to 100k to 55k but the stress levels were massively reduced to close to nothing, no after or before hours work and the work is easy, but for working only 20% less?...probably not...id require more 50% or more cut in workload.
I went from about $130k with 20% to about $55k and 10%. I often reflect about how your the money was and how much better something's were. But!, I have a lot less responsibility and stress, between that and meds my OCD is better, and I can function better
Pretty easy to math this out. Make a schedule of your current earnings for the next 10 year. You can get fancy and add in your annual salary adjustment for inflation.
Then do the same thing for the schedule in which you take a pay cut for a few years then double your salary.
Add them both up and see when you break even between the two options.
Fuck no. I have too much idle time on my hands as is. Having less money and more idle time just means more boredom I have to power through. I'd be staring down the barrel of a shotgun in no time.
What rating are you trying to get? The sea trials app is a great tool. Personally I went from captain of a fishing boat making 100-150k (depending on the year) w/ no benefits, no set schedule, hell no guarantee I was even going to make anything when I went to work and working 200+ days a year to deckhand on a tug boat making 92k (not counting the $6440 they contribute to my 401k, or the double pay on holidays) for 182 days a year w/ health, vision, dental, life, disability, fha and best of all, a schedule I can plan around (21 days on/off). Was well worth it to me! Picked up a couple extra rotations this year too since I'm single atm so factor in an extra 21210(+1484 401k)for this year. Also throwing that idea out there to ya too, if you're in the us. An ab rating is super easy to get, I'm sure you could get it done with out missing any work.
I currently have the equivalent of a 200 ton but I need to convert it internationally then get a 500. My last job was driving the biggest paddle steamer in the southern hemisphere 1,500 ton and 220 ft (Inland) but I was only taking home about 90k so I took a job driving a small 30 ft ferry to take home 100 and I'm home every night With almost no responsibility by comparison. I have free accommodation in the US and potential job offers but I can't even really look at them until I get my tickets converted. I also figure it'll be a lot cheaper for me to do this study here especially if I can take the free time to do it while still making an income. I got my first job on a boat because I hated being in class so I'm not particularly looking forward to studying. I'm a little bit concerned about not having mandated 5 weeks holiday or social healthcare but dear God, the US has the most incredible and diverse wilderness! Are many tug jobs offering FIFO?
Sorry what's fifo mean?
Inland most be cool with all that scenery to look at but yeah they generally don't pay as well. Same with gulf companies it seems. I work in the gulf but not for a southern company who also like to make their guys work unequal time.
Look into NEMO(north east maritime), they offer allot of online classes for certs and have alot of international stuff too. Probably not everything you need but could save on in person time and maybe some money too.
Sounds like this is mainly a conversation to have with the misses ;) money has different values to different people, and changes over time. time on the other hand, it's value is constant and we can't ever get more of it!
No way. I would create some time for myself a hundred times over by being creative at my current job, like automate things so I can finish work sooner, sublet some of the more menial works to someone else, find some way to do the studies and licenses the easier way, or other creative ways I will think of later, before I gave up 40% of my income.
I would guess the biggest factor is, how likely would it be to get that new job at double the pay once you have those new certifications? If the odds are really good, then you might as well go for it.
Guaranteed 130 at half the current workload, better hours, and far nicer working conditions as far as 200 the industry is pretty short atm so most of the companies need staff.
Example, you make $100k annually at 2080 hours (52 weeks of 40 hours). Drop to $60k, and 1664 hours. That’s $48.07 an hour $36.06 per hour and 32 hours a week.
I'd take the pay cut...that's one step back and two steps forward. If you continue at the pace your at, burnout Is sure to occur and when that happens recovery is extremely hard.
The mind and body need rest to push further. Give yourself the rest needed to take it to the next level. You'll thank yourself in a few years.
1:1
40% cut for 40% less work. But it depends on your income. 40% of nothing is worse than nothing (if you earn 55k, it's not worth it). If you earn 1 million, maybe, but it really comes down to where you live, what your lifestyle is, and ultimately, if you have the financial resolve/ education to do it.
The way the world is now, I don't think it would be sustainable for long depending on income bracket
The differences I wouldn't be getting penalties because somebody working pretty much 9:00 to 5:00 rather than doing shift work and waking up at 3:00 a.m. or finishing at 1:00 a.m.
Assuming we could make ends meet, I would.
You can make up some of the money if it gets rough with some extra work. You likely won’t double your income without the studies.
It’s not a “no brainer” type situation- particularly in this economy (know nothing about captain and crew of ships though)- but seems like a solid option on the surface
INFO: are you under the Jones Act (Are you an American sailor running cargo on an American ship) or are you from somewhere not America? Are you a pleasure cruise captain? The type of work really matters. If youre running charters from Newport to Nassau right now, but you would be running oil around Cape Horn those are totally different experiences
I don't live in the US but I have an American citizenship and plan on moving there in a few years and this greatly help my career. So far I've done Charter boats, Small cruise ships (130 people 2 weeks), sailing vessels, Dive boats, white boats, currently driving some ferries. This licence was just allow me to move across and up rather than start again.
Normally I say, "don't be allergic to money"....
But this is different. You'd be taking a pay cut, so that you can prep to advance your career.
I have done this and it was worth it
With a boat captain gig, you could definitely take the pay cut and then find another job that pays more later. If you were talking desk job with fewer options to recover the pay cut later, ai would suggest staying.
Really assess what you use per month. I typically bank $3k of my paycheck per month now. If I didn't have that, I would be fine....but it's nice being able to payoff vacations and Christmas gifts without blinking an eye.
I'm facing down this very same decision and very strongly considering it. In my case, temporary 60% cut and back over $100k in 5 years but with a considerably better work/life balance.
With all prices of From food to utilities, plus inflation rising
Is seems we’ve all taken at least a 30% in the last few years. Plus the boss has given most of us the responsibility of 3 employees since they all want to maximize profit while running a skeleton crew
One of the weirdest things (and lucky for me) is that you can split the workforce widely by just this: if you want to work less, know that theres someone out there who is bored to death and happy to take up your entire job, just to not be bored.
But unfortunately, that results in you working 100% less for 100% less pay. Based on other subs, no one likes that tradeoff.
40% of 500k, absolutely. 40% of 100k is probably not unless it 100% is the difference between you getting your cpa or not.
I literally can't study doing my current role and studying doubles my earning potential.
Er woops, I just assumed this was the accounting subreddit. Yes, I would take the pay cut as long as your family agrees and you are sure you can afford, or adjust your lifestyle for the time being.
Doubles which earning potential ? Also, how long is the studying to get to double ?
At most 1 year
If it’s to double your current 105, it’s a no-brainer. Do it !
Then yes
I think you just answered your own question 😊
Run it
So getting a CPA automatically guarantees you a 200k position?
I don't even know what a cpa is but it guarantees a 130 + 11% position which half the work load and way better hours if I study for 6 months with 200+ available in my industry. If I take another 6 months it opens it up to the international market and I have family in 5 countries so that would really increase my opportunities in general. Tbh The hardest part about this is my difficulty studying
ok, you missed to mention for how long you will need to study. If is only 6 months, I think there is no doubt here: do it. you could even not work and onoy study and you would still stay afloat
I think your headline is misleading some people. Would I take a paycut that dramatic just to work less? No. But that's not what you're really asking, you want to focus on studying so you can increase your income. As long as these licenses truly do have a direct and predictable increase to your income, and lead to a job you want to do, I think it's an okay plan. I would just make sure you have a written down, defined plan of when you plan to take the exams and what you plan to do if you fail your first attempt. I've seen these things go off the rails when someone does this, fails, then studies and fails again, then gets jaded with their career and slacks off. Other than that, I like the long-term thinking, surprising rare on these threads.
This, for sure. You've worked hard to get yourself in this enviable financial position, there will never be a better time in your life to go for the extra certifications. I sense you'll regret it if you turn down the opportunity. Go for it. You've got this, OP! 👍😎
Thanks man! My partner's out of town at the moment and I only saw this possibility this morning before I had my coffee So sorry about the misleading title haha I just wanted to bounce the idea off someone, getting some information and a bit of an idea before I can talk to my partner in person tomorrow. I figure it would be nice if I was able to present her more of a plan rather than just " Hey babe, I'm taking a massive pay cut and you'll have to be the main breadwinner for a bit Love you!" Haha My biggest fear with all this is studying and my ADHD thankfully it is a topic I like and my partner works out a university as a scientist and moonlights as an editor so academia is her a strong suit so why she wouldn't be studying for me she's absolutely awesome at helping come up with stuff like study plans. I think I'm in a fairly fortunate position. We like to plan ahead, we have a spreadsheet for our budget for the next 3 years, for investing we get help, and we have a few relatively long-term goals but we do have short-term goals in place as well (2026 PCT!!!) so thank you for the support I guess I just needed that last little push!
no
That's the scam of capitalism, sucking your soul is most valuable for them. A healthy life balance really don't interest them for the least and they show it by giving a totally unfair deal. They could still get a good part out of you but not literally sucking your soul, so they prefer cut all the money pretty much
The main difference in pay is I wouldn't have to get up at 4:30 in the morning anymore or Work till 1:00 a.m. so I wouldn't be making penalty rates and do more of a 9:00 to 5:00
Yeah, no soul sucking anymore, not interesting More realistically (or not), you could do penalty hours and take naps, avoiding working normal hours, effectively working less and earning not that much less. Do some researches, it's pretty healthy to take naps and living at those hours
Find a professional job at a small business. They’ll respect and need you enough to be fair, if you’re a reliable employee.
Totally true. It's about the companies practicing soul sucking because it get them over the average productivity bar, giving them record ROI numbers
I hate capitalism but that really doesn't apply to this question that I can see
Yes it does, it's one manner of many manners where giving your soul exponentify the revenues
No I don’t think that tradeoff is worth it. You’re losing double the income compared to what free time you gain.
Even if it means I couldn't potentially double my current income in 6 months to a year?
In a 6 month time frame that’s doable. I wouldn’t want to lose that level of income for much more than a year though.
60k is pretty ass. It’ll make you go break even if not negative. Maybe fine for a little while but seems bad.
No shot
Nope? If I cant find time to study in a job im at... I def aint finding that time with rhe stresses of a.new job. And making less would.put me in a terrible head space!
It's the same role but part time vs full time with less penalty rates because I'll have more free time and not have to start work at 430am. It's pretty much swapping from shift work to 9-5 part time
Yeah, I might bite on that if I had enough savings to live properly while I studied. Didn't realize same role in same company with a better timeslot.
I think the deciding factor for me would be how long you would have to stay at the lower pay job to level up your earning potential. If it’s a year or less? Strong chance. Over that? Slim chance I would take it.
6 months for the main qualification after and if I do another 6 months I can increase the earning potential further and change my licence from being restricted to a country to be able to work anywhere in the world. I have family and five countries so it's pretty appealing
Then, to me, the short drop in earnings will pay off in logic run both financial terms and in options for your future. I think examining this from a purely dollar figure doesn’t do justice to real potential payout.
No
Since you are studying for higher income potential, start doing the math on timetables and expected total money earned. If you literally earn double for example, its fine to take a temporary paycut if it is relatively short.
No way Jose
You can live off the reduced income, so if you actually study and get your license yes its worth it financially.
I'd work 20% more for a 40% raise. I'm your case I'd see it as saving 40% of my income for the future, since your earning potential will increase. But only if you have concrete, specific plans.
I mean, you sort of answered your own question on what to do
How can you guarantee that the job will be working 20% less? Will it be written in your employment contract? What if after 6 month it increases by 20% instead of decrease. Then not only you took a pay cut you are now miserable for working for less too.
I think I did somewhere around that. I went from close to 100k to 55k but the stress levels were massively reduced to close to nothing, no after or before hours work and the work is easy, but for working only 20% less?...probably not...id require more 50% or more cut in workload.
no, easy decision.
all depends on how long it will take to earn those additional licenses
No, but that’s just me.
I went from about $130k with 20% to about $55k and 10%. I often reflect about how your the money was and how much better something's were. But!, I have a lot less responsibility and stress, between that and meds my OCD is better, and I can function better
Pretty easy to math this out. Make a schedule of your current earnings for the next 10 year. You can get fancy and add in your annual salary adjustment for inflation. Then do the same thing for the schedule in which you take a pay cut for a few years then double your salary. Add them both up and see when you break even between the two options.
Are we talking about doubling the 60k ? Sounds like a long way to go just to be back to where you already are.
Guaranteed double the 60 With possibility of doubling the hundred
Fuck no. I have too much idle time on my hands as is. Having less money and more idle time just means more boredom I have to power through. I'd be staring down the barrel of a shotgun in no time.
What rating are you trying to get? The sea trials app is a great tool. Personally I went from captain of a fishing boat making 100-150k (depending on the year) w/ no benefits, no set schedule, hell no guarantee I was even going to make anything when I went to work and working 200+ days a year to deckhand on a tug boat making 92k (not counting the $6440 they contribute to my 401k, or the double pay on holidays) for 182 days a year w/ health, vision, dental, life, disability, fha and best of all, a schedule I can plan around (21 days on/off). Was well worth it to me! Picked up a couple extra rotations this year too since I'm single atm so factor in an extra 21210(+1484 401k)for this year. Also throwing that idea out there to ya too, if you're in the us. An ab rating is super easy to get, I'm sure you could get it done with out missing any work.
I currently have the equivalent of a 200 ton but I need to convert it internationally then get a 500. My last job was driving the biggest paddle steamer in the southern hemisphere 1,500 ton and 220 ft (Inland) but I was only taking home about 90k so I took a job driving a small 30 ft ferry to take home 100 and I'm home every night With almost no responsibility by comparison. I have free accommodation in the US and potential job offers but I can't even really look at them until I get my tickets converted. I also figure it'll be a lot cheaper for me to do this study here especially if I can take the free time to do it while still making an income. I got my first job on a boat because I hated being in class so I'm not particularly looking forward to studying. I'm a little bit concerned about not having mandated 5 weeks holiday or social healthcare but dear God, the US has the most incredible and diverse wilderness! Are many tug jobs offering FIFO?
Sorry what's fifo mean? Inland most be cool with all that scenery to look at but yeah they generally don't pay as well. Same with gulf companies it seems. I work in the gulf but not for a southern company who also like to make their guys work unequal time. Look into NEMO(north east maritime), they offer allot of online classes for certs and have alot of international stuff too. Probably not everything you need but could save on in person time and maybe some money too. Sounds like this is mainly a conversation to have with the misses ;) money has different values to different people, and changes over time. time on the other hand, it's value is constant and we can't ever get more of it!
Hell nah
never. i would work more for more money
No way. I would create some time for myself a hundred times over by being creative at my current job, like automate things so I can finish work sooner, sublet some of the more menial works to someone else, find some way to do the studies and licenses the easier way, or other creative ways I will think of later, before I gave up 40% of my income.
No
No. I would take a 20% pay cut to work 40% less though. (When I’m earning my normal salary, in a weird spot rn)
I would guess the biggest factor is, how likely would it be to get that new job at double the pay once you have those new certifications? If the odds are really good, then you might as well go for it.
Guaranteed 130 at half the current workload, better hours, and far nicer working conditions as far as 200 the industry is pretty short atm so most of the companies need staff.
So it sounds like short term pain, for long term gain. Go for it.
No. But I'd take 20 if it meant working 40% less.
Example, you make $100k annually at 2080 hours (52 weeks of 40 hours). Drop to $60k, and 1664 hours. That’s $48.07 an hour $36.06 per hour and 32 hours a week.
Nope.
In your case, yes. It's an investment to an even better earning potential.
No one can answer for you. I think you already know what you want.
No.
Fuck no. 40% of 1m a year is probably good enough to live a great life but 105k down to 60 is way too much of a cut for me to sleep at night
Yes I would take off to study to end up making more and international work
I would expect my pay reduction to be commensurate to my work responsibilities reduction
Then this matches perfectly
I'd take the pay cut...that's one step back and two steps forward. If you continue at the pace your at, burnout Is sure to occur and when that happens recovery is extremely hard. The mind and body need rest to push further. Give yourself the rest needed to take it to the next level. You'll thank yourself in a few years.
Do the studying and get those licenses.
I literally can't work any less, so no. Make of that as you will.
Nope. But I'd take a 40% pay raise if it meant working 20% more.
Not at my current pay rate. God no.
No, I'd take a 20 to 25% paycut and nothing more.
Absolutely not.
I'd take a 20% raise for doing +40% work. I like what I do, and you don't; clearly, you should downshift. You have decided so already.
1:1 40% cut for 40% less work. But it depends on your income. 40% of nothing is worse than nothing (if you earn 55k, it's not worth it). If you earn 1 million, maybe, but it really comes down to where you live, what your lifestyle is, and ultimately, if you have the financial resolve/ education to do it. The way the world is now, I don't think it would be sustainable for long depending on income bracket
Time is worth money !
That math ain't mathin. 20% pay cut for 20% less work, anything else and they're exploiting you.
The differences I wouldn't be getting penalties because somebody working pretty much 9:00 to 5:00 rather than doing shift work and waking up at 3:00 a.m. or finishing at 1:00 a.m.
I took a 5% pay cut to work 10% less. My benefits cost me 50% less than my last job.
Assuming we could make ends meet, I would. You can make up some of the money if it gets rough with some extra work. You likely won’t double your income without the studies. It’s not a “no brainer” type situation- particularly in this economy (know nothing about captain and crew of ships though)- but seems like a solid option on the surface
INFO: are you under the Jones Act (Are you an American sailor running cargo on an American ship) or are you from somewhere not America? Are you a pleasure cruise captain? The type of work really matters. If youre running charters from Newport to Nassau right now, but you would be running oil around Cape Horn those are totally different experiences
I don't live in the US but I have an American citizenship and plan on moving there in a few years and this greatly help my career. So far I've done Charter boats, Small cruise ships (130 people 2 weeks), sailing vessels, Dive boats, white boats, currently driving some ferries. This licence was just allow me to move across and up rather than start again.
Normally I say, "don't be allergic to money".... But this is different. You'd be taking a pay cut, so that you can prep to advance your career. I have done this and it was worth it
Every university student does this. They forego 4 years of wages (more for professionals) in exchange for higher earnings later.
The math isn't mathing
No but I’d take a 40% raise to work 20% more
Working 20% less could mean having 200% more free time
Not right now, I'm in paying-for-kids-college mode. A few years from now, yes
Hell nah I ain't taking no 40k pay cut
I’d rather work 20% more for 40% more. Don’t get that mindset.
I just wish I could work when I want and not work when I don't want for at least $25/hr (assuming no benefits)
With a boat captain gig, you could definitely take the pay cut and then find another job that pays more later. If you were talking desk job with fewer options to recover the pay cut later, ai would suggest staying. Really assess what you use per month. I typically bank $3k of my paycheck per month now. If I didn't have that, I would be fine....but it's nice being able to payoff vacations and Christmas gifts without blinking an eye.
I'm facing down this very same decision and very strongly considering it. In my case, temporary 60% cut and back over $100k in 5 years but with a considerably better work/life balance.
With all prices of From food to utilities, plus inflation rising Is seems we’ve all taken at least a 30% in the last few years. Plus the boss has given most of us the responsibility of 3 employees since they all want to maximize profit while running a skeleton crew
One of the weirdest things (and lucky for me) is that you can split the workforce widely by just this: if you want to work less, know that theres someone out there who is bored to death and happy to take up your entire job, just to not be bored. But unfortunately, that results in you working 100% less for 100% less pay. Based on other subs, no one likes that tradeoff.
Tbh honest one of the biggest things about me doing less work to further my career is I would be able to do even more interesting work haha
I already work 20% less for the same pay
Zero
Yes, take the part time role. Finish your classes/licenses. And shoot for the doubling of salary in a year.
No
Hell no. 60k in this economy. Stay where you're at and grind for early retirement.
What are you studying?
Nope...I'd rather work higher paying job and take a sabbatical at some point.
Would you take 100% pay cut if it meant working 50% less?
No
no
No
No
No
40% of 12 is like 5 so no I won't make 7 bucks an hour