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Ask HN: How much of pay cut would you take for a more fulfilling job?
I'm at that point where I'm considering changing jobs. After a string of trampoline-like moves from one place to another, I quite frankly feel I'm only doing it for the money. As I search for options, I realised jobs I would find more fulfilling typically pay between 30-40% less. Still have not decided what to do.
What pay cut would you accept to do something you like?
- gshdg 6y agoI already do something I like, so not much. That said, a FAANG or bank would pay twice as much, at least. And I’ve deliberately avoided that out of preference for startups. So perhaps in that sense I’ve already taken a 50% cut. And only regret it when looking at time-to-retirement projections.
- khannavid 6y agoI came here to say exact same thing. I think a 30-40% pay-cut is OK as far as you choose a really more fulfilling job. But about regrets: There are days that I doubt my choice too. Probably because I never experienced working at big corporations. Maybe I'm OK with them? Maybe I should go experience that for myself? But usually these doubts don't last long. And hopefully your more experience helps you never encounter these doubts! ;)
- decafninja 6y agoWhat bank would pay close to a FAANG? Goldman is the only one that I think could come close at the junior levels, but once you reach senior or above, I doubt any can. Maybe for some elite (and pretty rare) roles in niches like algo trading, but I doubt the typical bank developer job pays as well as FAANG or other top tier tech companies. Some elite hedge funds or prop trading shops could match or even vastly exceed FAANG comp, but then again, those jobs are both pretty rare, and their interviews can be difficult enough to make FAANG interviews look easy.
- gshdg 6y agoFor management roles
- oldsklgdfth 6y agoI wouldn't take a paycut currently. However, I would take a job without a raise. I have found my personal equilibrium for effort vs income. I could make more money, but it would be with significant more work and time spent. 30%-40% sounds like a lot. But it depends if you are sacrificing luxury or saving and retirement. The equation I used is: income = monthly expenses + savings + retirement fund.
- corporateslave5 6y agoJust stack the money and invest it.
- giantg2 6y agoI'm betting my retirement account in the market. Either I can retire someday or i will be in the bread lines.
- frompdx 6y ago> I quite frankly feel I'm only doing it for the money. I think this describes everyone's relationship to work. If your current employer stopped paying you would you keep showing up? If the more fulfilling job stopped paying you, would you keep showing up? Usually if I decide I want to change jobs I am looking for something that is both more fulfilling and higher pay rather than one or the other. If I did not have to work, I wouldn't.
- bruce511 6y agoAlas this does not describe everyone's relationship to work. Huge communities of people work really hard for zero money to get job satisfaction. You need look no further than many open source projects to see this, not to mention armies of volunteers at any charity shop etc. While it is rare to find that perfect job, where you are both fulfilled and paid well, it is certainly something to hang into when you find it. For me, I programmed for free long before anyone paid me, and I'll program for free when they stop paying me. In between I have earned dramatically lower pay working for myself, on projects I enjoy, with minimal oversight, than I would have gotten working for some corporate as a cog in the machine. I don't envy my rich Google compatriots - it would kill me to do their job. The old cliche says if you find a job you love, you'll never work a day in your life. That's bogus. Work is still work, and I work harder than most,but the work is meaningful, satisfying, and fulfilling. (_and_ I get paid :)) To answer your question though I dug out this story I read a long time ago https://www.mentalfloss.com/article/31077/when-his-project-was-canceled-unemployed-programmer-kept-sneaking-apple-finish-job https://www.mentalfloss.com/article/31077/when-his-project-w...
- pryelluw 6y agoWhy are you treating this as a financial problem?
- trykondev 6y agoI'd happily take a 60% paycut if I could instead work full time directing my independent game development company.
- askafriend 6y agoDepends on my asset base. These days, I have a comfortable base of assets that generate growth/cash. Because of that, I can afford to take jobs that index better on qualities other than just pay.
- sloaken 6y agoI would do 20%, but each persons number is based on how much they feel they are paid beyond their need / want level. Like you I do not care for my current job, but for a variety of reasons I am stuck for the next 2. There is an old saying 'Enjoy your job and you never work a day' (because you are having fun). But if you are not meeting yours needs, then they become the golden handcuffs that keep you working because you need the gold.
- non-entity 6y agoI probably wouldn't take a pay cut at my current salary, but I would definitely settle for a lower salary ceiling. I find people have a different definition of fulfilling though, it seems to most people to he defined as work having some sort of positive impact on society, but I really just want to work on domains / problems I'm interested in.
- cpach 6y agoI would probably be willing to settle for 0.75x, if needed, and depending on other benefits/ factors (e.g. if I would receive multiple job offers at the same time etc.).
- decafninja 6y agoI work at an investment bank as a senior SWE. I'd take a paycut to work at a FAANG or other upper-mid to top tech company. In fact, I'd be ecstatic to join such a company as a junior or mid engineer - and the paycut (if there would be any at all) would probably be very minor. Meanwhile the long term benefits (monetary, skill, and career) would probably be far superior.
- pbk1 6y agothis seems pretty doable - why haven't you made this move yet?
- decafninja 6y agoShort answer would be: leetcode interviews. I've tried and failed 3 of the FAANGs so far (though did come close at one), and 1 of the top tier unicorns. Slightly longer answer would also include the fact that many tech companies don't seem to want to look at someone like me for junior/mid roles. So I'm forced to compete with other seniors. And let's face it, a senior SWE at a bank or many other non-tech companies is not the equivalent of a senior SWE at a FAANG or other tech company.
- throw51319 6y agoIn what ballpark are you making? I'm at an IB as a mid-level engineer and my all-in compensation is at least half of what I could get a FAANG. In NYC.
- decafninja 6y agoBallpark TC of 150k, as a "vice president" individual contributor, team works with the front office (trading desk). I'm in NYC too. Probably could have made SVP/D/ED (the next level up, I think it's referred to differently depending on bank) if I actually cared and made more of an effort. Instead I choose to use that time and energy to do more leetcode.
- bryan11 6y agoWhat parts to you find fulfilling? One approach would be to assign a value to aspects of a job you find fulfilling. This could include things like a short commute, casual dress, flex hours, remote work, low politics, good/smart coworkers, and challenging projects. For some challenging projects may be worth a lot, for others remote work to be with family could have the highest value.
- giantg2 6y agoI have a family to support, so I can't afford any pay cut.
- shoo 6y ago> the primary goal for many [new professionals] becomes, in essence, getting compensated sufficiently for sidelining their original goals. Robert H. Frank, a Cornell University professor of economics, tried to find out exactly how much compensation people deem sufficient for making this sacrifice. He surveyed graduating seniors at his university and found, for example, that the typical student would rather work as an advertising copywriter for the American Cancer Society than an advertising copywriter for Camel cigarettes, and would want a salary 50% higher to do it for the cigarette company. The typical student would want conscience money amounting to a 17% salary boost to work as an accountant for a large petrochemical company instead of doing the same job for a large art museum. -- Schmidt's book Disciplined Minds, p 131
- cm2012 6y agoI'd personally consider it more moral to work at a petrochemical company than an art museum. Petrochemicals - Creating energy, necessary for modern life and society. Museum - Playground for the rich and tourists.
- bedhesd 6y agoThis is to assume you have the pay to cut!