Current situation: After 15 years into your gig you have a job that pays six figures, is a fairly easy job. You're tenured and there is very little chance of getting whacked since there are at least a dozen hires below you. You get breaks and summers off. Your work environment is supportive and nurturing and your boss rocks. However, you're exceptionally bored at your job and the passion you used to have has been snuffed out. You feel like your talents and skills could be more beneficial in another field and you simply cannot imagine doing the same thing for the next 20 years - it's an overwhelming thought. You've tried branching out in other areas that include leadership and development but nothing has really panned out.
Future situation: Given your age and family situation, you're still able to pursue a career in a field of interest and switch gears completely. You may have to take out student loans to pay for it but that isn't a huge deal. You'll be out of work for nearly 2 years - i.e. you won't be providing the family with any income, which will limit what you as a family can do. You're very excited about this career opportunity and the thought of being mentally challenged and really making a difference in peoples' lives gets you all fired up again. Your profession is in high demand and you will likely be hired upon completion of your program. However, when you do finish your program your starting salary will be nearly half of what you make now. Furthermore, your schedule may not be as neat and predictable as it has been in the past and you won't have the flexibility that you have with your current job.
Basically it boils down to - would you take a huge pay cut and big job change to pursue something you find challenging and fulfilling...or do you stay with the safe, financially secure option that you're good at even though you know you're burnt out?
Burnt out mamma is a very unhappy mamma. Go for it!! Life needs to for fulling if you have to downsize or go out to eat less then you do what makes you happy! Good Luck.
Jen
I'd wait 6 months and re-evaluate. If you still feel the same go for it, but sometimes we get in emotional ruts and decide we need something, when that isn't what it is at all. However.......if you are feeling confident, and your partner is on board, then go for it.
I will take a chance but it has to be at the right time for me and the family,I have been contemplating the same situation (My job is a blessing to me and my family) and I am going to step out with my family's support and do what it takes in order to be able to do what I love and call it work. So i say outside looking in GO FOR IT!
That is a tough question to answer but, I would have to say that it depends on the person facing it. Some people do the same old same old "safe" position because it is easier. The problem is that they become miserable people because the mental stimulation is gone. If you thrive on challenge and need a career that you can't wait to get to in the morning, then go for the change, as long as your family is on board. Money isn't everything, it does not buy happiness and is not there for you emotionally. You and your family will have to make some sacrifices so talk to them about how they feel. When you become bored with your every day situation every one around you suffers too. So life is short, do what makes you happy.
Live frugally and only spend the money you would make after taxes in your new "fulfilling" job. See if you like that. If you do like living on that income, then work and save until you have enough money saved to live and not take out student loans while you are getting re-educated.
This is all with the understanding that your spouce agrees with the diminished income and your new career field. If your spouce agrees, then save and go for it. BTW, try and get a part time job in your new career field to see if you really like it as much as think you may like it now. Sometimes the grass looks greener on the other side of the fence. When you get there the lush lawn turns out to be astro turf.
I stayed in a job I grew to hate for 20+ years so I could provide for my family. What you want to do comes after what you can to do if the want to do job doesn't provide for your family.
M.R.
I am doing it right now (I have enrolled in a program to be trained for a new career). I am scared and excited. I know my lifestyle will have to change a little, but I think it will be worth it to find more satisfaction in my work. My only real concern is my husband. He says that he supports my decision, but I don't think he likes the change in income. But I know that I can't make my family happy unless I feel happy.
Good luck with whatever decision you choose.
Cathy
To be perfectly honest, more people should have your drive and ambition in this world. Too many of us get caught in the doldrums of societal expectations and lose sight of what is most important.
I did something very similar to what you are considering. I left my non-profit job and started my own business. It's been hard. Very hard. We've had to cut corners and scrimp sometimes. But I love what I'm doing. I'm excited about going to work every day. My business doesn't make a whole lot of money (not yet, it will someday), but money can't buy happiness.
Before pursuing this new career, is it possible to save as much as you can so you have a cushion to protect your family from any financial implications? And is your family supporting you in this career change? If they are, then I wouldn't think twice. I'd do it.
I agree with the poster below - live for at least 3 months on your "new" salary before making the choice. It's one thing to hypothetically cut your income in half, its another thing to be standing in the grocery store stressed out because milk went up by $.50/gallon. That old job might not look so bad.
There is, of course, option C - figure out what you can do to get reenergized about your old career. People get reenergized about their marriages all the time - it's about finding that old passion and ignoring the crappy parts. That might be the best of both worlds.
I think it depends on how old your kids are. If they are young then keep the job with the summers off. They will not be young for long and you would hate to lose the time with them. If they are teenagers then go with the new career b/c it really sounds like that is what you want. But also make sure that you can fund their college as you are funding yours.
I would personally stay with the job that you have. It sounds like you are on auto drive and that probably affords you a lot of "head space" for the other aspects in your life that SHOULD be as important as your own fullfillment in your career.
I am wondering what your husband says about this and also if you would afford him the same opportunity.
I think your post says exactly what you should do. You clearly are very excited about a new opportunity. If you don't take it, will you regret it? Money is not everything. Being personally fulfilled and enjoying your job is probably more beneficial to your family than a bigger paycheck.
When you are 80 and look back what will you think?
How old are your kids?
In Europe it is more the culture to have a manageable job and then find fulfillment outside of work with family, friends, and hobbies. If that idea doesn't appeal to you than you have your answer.
I don't know how old your children are -for me that would make a big difference. Are they older, in school and more self-sufficient or are they still really little? I applaud you for wanting to pursue something new and stimulating, but this is how I would think of it. Travel and vacation time is VERY important to me, especially right now with two small children. Not only do we love to take them places, but we like being able to afford it AND I like being able to take time off at holidays to spend extra time with them. To me, that is worth staying in a job that allows me to do those things instead of taking one where I might not get much time off at all -especially the first several years.
Absolutely live for 4-6 months on what your NEW salary would be -and not a penny more -to make sure you're happy and it's still doable and you're comfortable! Are you still able to save for retirement, emergencies, etc?
Depending on how you feel about time off, how living on the "new" salary is and how old your children are -that's what would make my decision. For me personally right now with a 2 and 4 year old -no, I wouldn't do it -but in 10- years I very well may.
If you were single, I'd say go for it. But with a family, I'd recommend that you talk it out and make sure everyone understands the changes that will happen. You're talking about possibly lowering the standard of living, and not just for yourself but for your whole family.
I'd switch. Sounds like you're toasted at your job.
BUT I'd work another year and live on one income and sock away the dough to pay CASH for my education. With a 6 figure income there's no reason to go the student loan route.
You're writing my story except for the 6 figure part. I don't know your age, but if you're close to 40 or over, you're at the point where you want to do something fulfilling and what will make an impact on your life and future. Sometimes we need to go out on the limb and take a chance. Weigh the pros and cons of each. I personally don't want to do the same "comfy" thing for the next 20 yrs and then look back and say, I am 60yrs old and haven't accomplished my dreams. I have seen many folks at that age who regret pursuing their passion and was miserable after they were too old to do it again. There is something in each of us that want to pursue what we came on earth to do, and with a purpose. If that's your purpose, and you feel that you can make ends meet, then do what is fulfilling for you. You will feel better at 60, 70 knowing you did the right thing.
I think everyone deserves the ability to work at a job that they don't hate.
That being said, I'm not trying to be critical, but if you're making 100,000+ per year (i.e: "six-figures") and you can't save up money to pay for schooling and for the possibility of having no job for 2 years, I think you need to take a step back:
Take a step back and look at your living situation and your budget. On $100,000 per year, you should be able to cut back on expenses and save plenty of money to pay for your schooling and set money aside to help with expenses/budgetary needs for the family for the 2 year period when you would not be working.
So, I think you should set a plan and a budget to work toward your goal and save the money you need from your current salary in the next 3 to 5 years (and yes, you'll probably have to make some pretty strict/unpopular cuts in the family budget) to save for your education and survival needs of your family.
Yes you have itchy feet and want to explore. I think a lot of this desire comes after having children. You give birth and a whole new world opens up with many, many possibilities.
As several posters have mentioned that in this day and age it is best to be bored and employed than creative and broke. We all want to do something in a different field around this time frame. Is there a market for the new skill set that you are going after? Will this market still be there when you have completed your schooling? Will the extra school assure you that you will have a job? I have a cousin who has two adult single children around your age with masters degrees one has been out of work for two years who has used friends, networks, agencies and the like who moved back home. The other was in marketing management promotional events and finally got a job with a liquior company after a year long search.
No matter what they are saying it is not a bed of roses it's not even a bed of nails out there. It is going to take at least another 8 to 10 years to get out of this hole or more. Try to volunteer in this other field to see if it is really the right thing. I say this because once you are out of the work force you may not get back in the work force. The higher the education you get does not guarantee you any job. Sometimes it may limit your chances to get a job. (I will get off of that soapbox.)
But you are the captain of your ship and you must chart a course and continue I just hope you don't run into any rocks.