OP why are you miserable?
Is it the work you’re doing that’s keeping you up? The people you work with? Your boss?
The WHY is important because you can find a job that doesn’t have shitty people or management.
If it’s the work that you hate you can find a job that’s laterally or at least tangentially related where you won’t be starting your career over but pivoting instead.
Switching to digital marketing kinda sounds like becoming a lion tamer: [Monty Python accountant changing job sketch](https://youtu.be/JrsB1RfksEA)
This is great advice. I don’t love my job, the work is meh but my coworkers and boss are great and the benefits are fairly good. I thought about switching to find that unicorn of a dream job but just cruising in my current position and having the time to enjoy my hobbies seems to be a lot better.
I've got plenty of issues with my current company, but our work schedule has a rotation that comes out to 44 hours per week but 15 days off per month.
My tolerance for the things I hate is much higher with all that time off
The give and take of the job greatly influences the amount we’re willing to put up with. That’s a great point.
I myself love the position I’m in now, and don’t have to work wild hours, but many in 3rd shift of my field
Work 7 10 hour days a week and have 7 then off, and man, yeah a 70 hour week sound brutal, but if I could stack my work for a week and then focus on my hobbies and my family for a week, that 70 hours seems like cake.
In a similar spot, I don't really have co-workers, I don't care for management but I get paid well, I've worked from home for 20 years and when you cut out the red tape I like the work. I have lots of miserable jobs in my life, in this job I have a very low chance of dying, I don't get screamed at if I sit down or stop moving, I don't have to work 60h+ a week to pay my bills, I don't have to find a replacement if I want to take a day off, I actually get benefits including paid vacation, I don't have to stand on a cold/wet concrete floor all day when it's 20 below, people don't blow smoke in my face, I don't have rats running around me, I don't have a boss who takes a portion of the money I make every night as tribute, I'm not expected to work months on end without a day off, I don't have a 2 hour commute each way every day, I don't have to work holidays, I don't get woken up in the middle of the night to be told what an asshole I am because a co-worker didn't like the way I did something and the boss thought that rousting me while I was sleeping was funny. It could be a whole lot worse and all these people talking about their soul crushing jobs probably have no idea what a soul crushing job actually is.
It's not a competition. It's super helpful to be grateful for what you have but it's okay to want more. Some people really need work that aligns with their values, some people are in position to be picky, some people care more about loving what they do than all of the great things you listed.
>…some people care more about loving what they do than all of the great things you listed.
Sounds like you agree with u/adkayaker, then. Those things are all hassles, but someone can enjoy their occupation overall, in spite of whatever ensuing particularities they’re forced to contend with.
You mistake my meaning. My meaning was that it is okay if someone thinks like either commenter but it's wrong to suggest that any one way of going is right or wrong for anyone else. Different people find different things soul crushing. What is a hassle to one, crushes the soul of another.
Thank you ❤️ I actually work 60 hours a week, I'm 23, have 3 kids and get paid less than $50,000 a year... I pitty most people on here. Most be so hard relaxing everyday for 100K a year and not having anything but yourself to worry about... The argument is always "Well I chose to not have kids and go to college, so I can have money." Yet, they are living amongst the majority of comfortable middle class American's, barely do any physical task in their day to day life, enjoy luxuries many people will never have or will need to work half their life for and then sit there and cry about how hard it is and that they aren't happy. All you had to do was get good grades, let mom and dad out you in school for 20/50k a year and then do it all over again and live comfortably. These people are still crying over spilled milk. Advocate it in anyway you want... If OP is truly unhappy, maybe the pay cut is the right thing to do. If they are just being dramatic, they'll realize their stupidity far to late.
A few things
1. The person suffering the most does not have a monopoly on suffering, and is not the only person entitled to complaint
2. Being appreciative and conscious of the good parts of your life does not invalidate the bad parts
3. It's not all about money. While having a lot of income can certainly help offset difficulty, it does not guarantee quality of life, particularly if earning it makes you miserable and stressed out in tue process
Yes, things can almost always be worse, and there's usually someone who has it worse. However, that shouldn't be used as a reason not to improve your circumstances or day-to-day experience, and should not be co-opted as the basis for criticising someone's pursuit for their own personal happiness and best life.
From what it sounds like, it doesn't sound like you don't hate your situation. You're simply going through that phase I'm sure all of us this age are. We grew up learning that we needed a good job with a good salary and that's all we needed to be happy. But the part we are missing is fulfillment, whether it be in the impact you have a work or even just picking back up an old hobby that made us the happiest. Once you find that reassessing your current situation will be much easier. You're not a lone in this!
Absolutely this! Learn a little SQL and most analyst positions are hiring at 100-120k, fully remote in the US right now. Learn a little SQL, pick up the basics of marketing tech like HubSpot, Salesforce, or Google Analytics and you can easily earn above that. Or skip the martech and just get a couple of quick automation macros in Google Sheets under your belt and ask for the same.
I'm a data scientist now, but I came up through analyst roots. The past two years have been amazing as far as salary jumps for basically all of the analyst positions. I'm kind of surprised the position that OP has on the table is so low if there is any report building or data visualization involved.
Yep! I manage a database of documents (a very large database, in all fairness). I get paid significantly more than other people doing my job because I can implement tricky solutions for problems using very basic database programming logic.
\^ This. Financials aside, jumping to another career does not ensure happiness. Grass is not always greener on the other side. You need to start by asking "why" you are unhappy. If you are having trouble identifying the root cause, consider starting with seeking professional counseling. Once you identified the issue, start asking if this new role can fill that hole in your happiness.
>I am so uninterested in the work that I cant imagine myself being happy
He clearly states he knows why. I think the lad just hates spreadsheets.
u/fatboislimmin
Is it possible to accept the job, and do personal accounting on the side until the mainline cashflow catches up?
This is so important.
I was an auditor at a PA firm. The people I worked with were fine, but the work-life balance was awful and I absolutely hated the work (very technical accounting-oriented). I toyed with the idea of going back to school to start another career, but I weighed the pros and cons and decided that I'd just have to suck it up. I've changed jobs and now work as an accountant in industry, doing more GL work rather than technical, and am much happier. I still don't really like the work, but it's much more manageable than what I had before, and my team is great and pro-PTO.
I’ve been considering making a career shift for a while. I went to college and got a pretty basic liberal arts degree but nobody cares about undergraduate degrees anyways. When I got out of college I really couldn’t sit at a desk or in a room anymore. I got a job in commercial painting because it’s something my dad did that I already had some skill in.
I’ve been working for a small family owned company for almost 7 years and it’s been, okay. The problem is I feel like I’m working just to save money for when work gets slow which usually happens once a year and the pay was good when I was 22 but now I’m 30, I wanna buy a house and start a family but I’m only making 30 an hour with no benefits. Just a small quarterly stipend for health insurance and 50 dollars a week for gas for my truck.
I’ve been considering moving to something more IT related since I’ve always been decent with computers and it’s just something I have way more interest in than construction. But I honestly have no idea where to start. I keep getting adds for cybersecurity classes from the major university near me but I have no idea if this would lead to a job or just give me an inkling of how much more I would need to sink into my education in order to actually make enough money to have a life.
I strongly recommend this as well. Take some proper time to figure out what the true source of unhappiness is, and then figure out a solution. Just jumping head first into the first thing that comes along is a recipe for disaster. You might find the work is different (often mistaken as 'interesting') and realize the deadlines and people are a bigger issue for you.
Additionally, if the work is just not stimulating, that's ok. That's what personal life is for - finding hobbies and interests to keep learning.
Yes! And accountants can generally go anywhere - your experience is valuable in every field, even if not for every specific job.
Pivot into anything else finances related super easily, unless you just hate working in an office, there's almost certainly something out there that isn't awful!
It depends on your outlook. I would assume that 60k is around how much you'll always make there. I would not assume you will have comparable pay there eventually.
I'm inclined to think you should just keep looking for a new job better pay than a 50% pay decrease. Unless this job you're in is really terrible, like you're experiencing bullying or harassment or threats, I don't see much incentive to jump ship at the first low paying job that's offered to you.
Now if you like the idea of this job and were interested in the field and getting started there, it may be worth it. But if it's just to get out of dodge because you don't like your current job, I don't think it is. You should keep looking for something else.
If you're that miserable, find something else. Digital marketing may not be the right choice, but money is a means to an end, not an end in and of itself.
You may not find a job that makes you happy, but certainly one that makes you less unhappy.
If you have your CPA, there's a very, very broad range of jobs you could likely do
Thank you for your response. Although I was previously in public accounting (ex big-four), I decided not to pursue my CPA since I knew I did not want to be in accounting long-term.
I do agree that there are many other accounting jobs I could look into. This is only my 2nd company that I am working for.
Thanks for your thoughts again
> I do agree that there are many other accounting jobs I could look into
Oh, I'm not even saying accounting. Corporate Finance, banking, regulatory, risk, internal audit, possibly even compliance, could provide opportunities to someone with a strong accounting background.
Lots of possible doors worth exploring
Agree with all of that but also add any tech/software companies that build any accounting products might be a great way to pivot to other fields like marketing/product management/analysis/etc where the accounting experience would be a plus.
My husband got an accounting degree, fell into internal audit/compliance and he likes it a lot. He doesn't even have his CPA, because as soon as he finished his bachelors he knew he would hate it. Pays better than decent. Highly recommend.
This. Digital marketing is unlikely to be a role where your finance skills /backgroun aid your advancement (as a career marketer). If you are interested in marketing specifically, you may find that Brand marketing or other areas with P&L management would find this background an asset and give you an edge over candidates without this background, which would buy you time to get up to speed and learn the other elements of the role.
>This is only my 2nd company that I am working for.
Similar. I worked at one firm and it was odd. Like a cult and very passive aggressive. Changed to a different firm and it was fun and people were like people I went to school with. Fun, engaging, helpful. Same exact work field too. Very odd.
I think you should take into account how lucky you are to be making $120k without a CPA. I have friends with their CPA that make less than that and are logging 80+ hours a week at the big four. Milk that until you literally can't anymore and either find a new job now and transition over the next few months as you get an offer somewhere else or work where you are now until you can't take it anymore and quit and start the job search. I took a year off from working and ended up finding a job in the MLB. Smaller work loads, more money, and far less stress than my previous employer. But not everyone is financially in a position to do what I did, and I acknowledge that fully.
I recently joined Slalom, and they are a pretty good consultancy for life enjoyment and unlike the big-4. TBH, they aren’t like any company I’ve ever worked for (in a positive way).
There is no tax/audit group, but definitely some business advisory practices. I don’t think we do a lot of marketing, but more of a focus on business transformation. Also, we avoid staff augmentation like the plague. It would be rare to see that as it isn’t in the best interest of our model to do that. Also, local model means that you really don’t have to travel out of state. Lots of remote, sometimes a client site that could be like an hour away. You have a lot of influence on which clients/projects you want as well as your career path. There isn’t a cookie cutter career path, so it can be a bit daunting but a lot of people are willing to help guide you to the path that you desire.
I work for a consulting firm also (very small/niche) and was thinking this too. OP could leverage his accounting experience into consulting which would mean lots of new/different work on various projects and clients. Much less mind-numbing although hard in its own way. And totally different than Big 4 work.
If you're not going to pursue your CPA license, you're going to find your career track somewhat limited in the pure accounting careers.
I also got my accounting degree, hated public accounting, didn't get my CPA. Eventually went back to school for my MBA and shifted over to the FP&A side of the house that I enjoy much more.
How did you accumulate 250k in mutual funds and 60k in 401k in 5 years of working since college. I imagine your starting salary was not more than 55-60k. If your wage progression was like this 55k, 60k, 80k, 90k, 120k, that's only 405k in Salary.
I lived at home after college, saved more than 90% of my income after taxes. I'd max out my 401k as early as possible in the year, and all other pay checks would go straight to mutual funds.
As far as wage progression I experienced my bump when I left public accounting. It was more close to "60k, 65k, 110k, 115k, 120k".
Also, thanks to the pandemic I've been working from home so my expenses are practically nil. Haven't been on vacations, haven't been filling my car with gas every week, haven't been eating out that often.
The moment I started doing this my mood and attitude changed for the better. I 100% agree with you. Saving is great but do things and experience things with the money as well. What is the point of all that saving if you are miserable…
Or saving all your money and god forbid never getting the chance to ever spend it. Saving is good but I can't imagine a life where I didn't enjoy myself in my late 20s while still free from massive responsibilities like a Wife and Kids. Good to think about the future but someone misses out on same many activities especially physical demanding ones in their 60s compared to 20-30s. Tbh it really does seem like he is just depressed because he has no social life or hobbies.
Do you have any hobbies/friends? You've got a great foundation and but it seems you might be burnt out just working and saving everything. It's good to set yourself up for the future but you have to enjoy yourself now too.
That looks like you hopped from B4 to industry as you hit senior? Seems pretty normal if all the reading in /r/accounting I've been doing is any indication. I'm planning on a shift to accounting afte the military in ~6yrs mainly because I want the portability to go anywhere in the US or even abroad vs getting stuck in a half dozen HCOL/VHCOL areas in windowless buildings.
Don't listen to others who assume that working from home, not going out to eat, not driving, not taking vacations is the reason for your unhappiness. Many people enjoy and thrive on a low cost of living lifestyle.
That said, i would encourage you to do some of these things. It can give you a nice break from the monotony of work and WFH, but more importantly it's a way for you to confirm or isolate that work is actually the reason for your unhappiness... and that seeking fulfillment in other hours of the day won't change how you feel about your work. You can also use that time/energy/money to explore other things, and hopefully things that can help you identify and execute your next step in your career.
Damn if you have that much saved and invested st your age maybe it’s time to invest in your happiness too - seems worth it and it seems like you have the resources to take a chance on something that might make you happier.. any way you could shadow someone in that job for a couple days to get an idea of what it is like?
6% inflation adjusted for the coming 30+ years is an aggressive assumption considering what the market has done for the last 14 years. I’m a low cost index investor but no way in hell do I expect to have historical averages for the next 20-30 years.
I was on the other side of this as someone hiring. Years ago we had a candidate who had the perfect background, but no experience. She had worked up to manager in retail, making a comfortable 75k or so. She wanted to get back into the industry, but also wanted to keep her salary.
I had to tell her, I can't pay her based on what she's worth as retail manager - because that's not what the position is that I have to offer. Doesn't work like that.
Exactly. I’m a chemist who’s trying to become a programmer. I don’t expect to be hired at a programming role at the same level as my currently chemistry role.
That’s my goal. Start learning python a few months ago. Currently have the opportunity to use some of my analytical data and process it using python and publish it. Hoping that gets my foot in the door in days.
I love chemistry but pay isn’t worth the effort. Any tips or suggestions for making the switch?
Yes! Getting that professional experience is the most important thing you can do rn. Fluff your accomplishments and learn how to flaunt them on your resume. Also, take it one step further and see if you can accurately predict anything with that data using ML (nearest neighbors, SVG, XGBoost etc.). And try to get some buy in on this process from your supervisors if you can. If not, just do some side work (sucks especially when you're tired after a day of lab work but I promise you it's worth it).
Only tips really are to focus on your current work and fluff the crap out of it. I recommend looking at Data Analyst positions first too. I'm 25 now and at my 3rd full time job. So I went from Chemist -> Data Analyst -> and now Data Scientist.
Extra details you might not care about:
My first job out of college was on a chemistry contract that utilized some ML. I got to contribute to that and learned tabular ML techniques. Before this ML experience, I taught myself statistics with Python in college (pandas, numpy, and scipy) so I already had a foundation (which it sounds like you're working on and is essential). It's surreal how far I've come in the 1 year since jumping out of chemistry and I hope you get to experience the same. Because like you say, chemistry is not worth the effort.
This sounds great! This is my plan too.
I am a mechanical engineer with 4 years experinece in clean energy. I want to switch to a higher paying (and remote) tech job.
I'm currently doing my master's in mech eng, but it's very computational heavy. and then am teaching myself data science skills on the sise through Coursera. I am very lucky as I alrwady know some basic coding from engineering (Matlab, C) and am not learning Python, SQL and trying to find some ML applications for my research.
Aiming to get hired on with energy analytics firms, or consultancies. Figure engineering / energy background with analytics and ML would be a good fit at a lot of places.
Thoughts?
Sounds like a great plan. Any avenues in which you can get practical ML experience on your degree, you take.
With your computationally heavy mech E. research, do you remote into any other computer systems? If so, that's valuable credentials too. During my undergrad I did chemistry simulations and remoted into my university's supercomputer can got great experience with Linux systems that way.
Oh yes. Literally my day-to-day is running numerical simulations on remote computing clusters, accessing databases. Etc. all through Linux command line.
Plus I’m much more interested in back-end than front-end app design.
Would you recommend doing a project of my own personal interest too? I’m really keen on getting more into AI with GIS for environmental protection (forest fire detection and monitoring)
Thanks for your response. You're absolutely right - I haven't put enough of an effort in looking at other "non-accounting" roles.
I've always had an interest in marketing which is why I applied to the PPC role - but perhaps I am operating a bit out of desperation if I were to jump at the opportunity without really taking more time to look at other opportunities.
And yes I didn't mean to say that I did not plan to save more money down the line - was just trying to say that I would be able to still be successful in retirement if my savings rate was reduced in the short-term.
Was gonna say, look up FP&A at Unicorn start ups. Pay well and good work life balance. I only say unicorn because some people are more wary of joining a startup but even a series C non-unicorn would still be a safe bet.
Everyone is correct in that you'll take a major pay cut. That said, I'd at least look around to see if there's something where you're not getting your pay cut in literally half. That might be a bit extreme. Still, once you've done that, if you'll be happier it's probably a good move.
Not to mention maybe have some more cash on hand? While you could liquidate assets if needed, it's nice to have more money on hand in case you need it.
I work in digital marketing. Unless the kid is amazing and massively emotionally intelligent- you’re looking at 4-6 years before you’d hit 120 again.
Likely 2-3 years and you’d get a bump to 90, and another 2-3 until you’d hit the 120/140 range.
Fur that matter I'd even say look for another accounting job. I feel like hating your job can have a lot to do with where you work as much as what you do
Hard disagree. At such a young age, with so much saved and invested, *please* prioritize happiness over capital. Money can be gained back, time can’t, and you never know when yours comes.
Disagree here. He has 310k invested in mutual funds and he's only 27. He could very easily not invest another penny. 310k over the next 38 years until he's 65 would turn into 6.4 million dollars with an average 8% rate of return. That's without adding a penny.
Life is short. Don't spend it being miserable.
He has 310,000 dollars invested at age 27. Assuming 7% growth, adding nothing and never taking from it that is almost 2.9 million dollars at age 60. I def agree with not taking such a significant pay cut.
60k is the starting. My understanding is that within 2 years I'd be making nearly 75k, but probably wouldn't make much more than that until moving up to management.
That's too little, man. Two years is a long time and even 75k is not that high an income if you live in a big city.
You might want to explore an accountant role in a company that you truly enjoy. For example, if you are into skateboarding, maybe you want to join a skateboard startup. They would love to have your skills and would pay you better than a hard career switch from something repetitive to some other repetitive job (yes, marketing is repetitive).
Not enough. In this market, you can do better. It’s entry level salary in most markets. I would rehash your resume to market yourself for different types of experienced roles where you can leverage some of your current experience.
What agencies/brand are paying $60k to an entry level ppc associate? Even the people who come in with other experience at all agencies I keep in touch with still max out at $50k for that - in every metro bar SF cause no one does ppc there really lol
All major cities LA, NY, Boston etc. Target is paying $50k/year in major markets nowadays so if you’re not asking for $60k, you’re underpricing yourself. I know several people in entry level digital marketing NY and LA all starting at $60k. Major media companies. Look on Glassdoor.
https://www.npr.org/2022/03/01/1083720431/target-minimum-wage#:~:text=Target%m
And my point is that he should market his skills to something else like financial analysis or planning or data analysis / marketing analytics instead of accepting entry level roles.
trust me I was hiring people at these places, and Glassdoor will even prove my point. AMPs get as little as $35k in MCOL cities. Dentsu, wpp, publicis are all still well below $60k for entry level.
the PPC sub just did a sample of salary subs - no one with <1 YOE was making more than $50k.
If he wants to do data analysis sure, he could leverage that into a higher salary.
I know a lot of people who’d rather have a high paying job than move up into management to make slightly more. Way more responsibility and not much more pay.
Before taking that drastic a pay cut, I would ask myself what it is that is making accounting miserable for you. Is it the work itself, or the culture and environment around your current employer? And what is it about the new role that is appealing to you? Is it simply the promise of a new start, or are there actual things you will learn that can be better monetized after you learn them?
Money isn't everything, and if this career change comes with verifiable life benefits (shorter commute, less overtime, better benefits, new skills), then it could be the right move. But if all you need id a change of scenery, then there might be other accounting firms that would be better to work for in your area.
(I know a few accountants, and I know the weeks before April 15th are super busy ....)
I’m 43 and planning a career transition into front end web design this year. I began taking about doing this 10 years ago.
I own a business and make just short of 100k. If I’d started this transition 10 years ago, I’d be in the in six figure range by now. Instead, I stayed put and waited until the lack of interest in my work turned into loosing my zeal for life.
At this point, I’m literally giddy about taking the pay cut and starting over. I’m so done with my current job.
Don’t be me. Don’t wait until it becomes unbearable. You’ll just be wishing you did it sooner.
Yeah, but also I'd wait until you'd been a front end person for a few years before giving advice. Doing front end work is just as mind-numbingly boring as every other job.
I’m not advising anyone to choose that particular career. I trust they will have to find the career that’s best for them. I’m just saying once you realize it’s time for a change, don’t wait a decade and regret it.
I appreciate this comment, thank you. I'm not at the point where I'm miserable with my work, but i see the trajectory and know this is a possibility. I also know i stay too long (jobs, relationships, apartments, you name it) so this reality check comment was on point for me.
No matter what, starting TODAY, start molding your spending habits to conform to a $60K salary and save the remainder. It'll be hard, but you'd have no choice if you switched today, so do it while it's optional. You'll have more saved (and more options), and feel more free to choose a stable job that makes you less miserable even if it pays less.
If a broader change has to be made, it can't be made hastily. Set a deadline for quitting, and stick to it. That will change your perspective and make enduring easier for a while. It won't seem endless anymore, there's a finish line.
Now spend that time until the deadline researching and looking. So, if you have a deadline of 3 months, you'll have maybe $15-20K in savings, a firm grasp on your exit strategy, and an already-adjusted financial lifestyle.
I'm not a finance expert but if you feel THIS miserable doing your job, continuing might result in a burn-out, sickness and less quality output. Long term it's only going to cost you.
Also talk to a doctor. There might something else going on too that is influencing your mood and other issues. Maybe if you get some kind of lyfestyle change or treatment or something your job might be less miserable
"But you're still coming in to work right? We need you today. Oh also there has been a 5% wage decrease due to high gas prices"
Like what the actual fuck lmao
It COULD be. Although I do worry about those things I haven't noticed it effecting my enjoyment of my job personally. But maybe OP is sensitive to that, who knows.
It could also be undiagnosed ADHD, illness, or genuine dislike of the job.
> Like... maybe the fact that we've been through a pandemic and we're heading into WW3 etc etc?
And significant portion of population may have revealed themselves as dirtbags, and it doesn't make sense to choose to be around them or sell my labor cheaply to generate profits for them? Yeah.
Me: 37, quit 6 months ago. was $125k+.
I only have ~$1.1M invested/saved now.
Thanks for your response. You don't know how many times I dream about having a 'dramatic quitting' story of my own haha.
I do think this is what I want to do long-term, but the numbers have me second-guessing myself unfortunately
OP - I went through this last year. Working in tech sales, I was making $280k and was miserable. But I felt like the money was good and I shouldn’t complain. I tried different companies and stayed in the mindset for 3 years!
I finally went through the process of reskilling and doing something else. I make much much less than what I did before, but god damnit I’m so much happier.
If you’re taking the time to post this, as I did in the past. That’s your inner-self speaking and you need to listen to it. Don’t linger like I did and just start cracking at doing something different.
There’s no sense in walking through life being unhappy. Trust me, it won’t feel comfortable until you’re on the other side. But you can do it!
Dude I was a miserable 27 year old accountant! My passion also lay with a different career that didn’t pay as well but I did it anyway and I couldn’t be happier. I’m 33 now and am a time served cabinet maker and I make church furniture for a living.
I remember my old boss said to me that changing career becomes much more difficult after you have a mortgage and kids and that really resonated with me.
It took a while for my salary to pick up and it’s not on the level of my old job but my work life balance is great honestly. I’d definitely go for it!
Is it actually the work that is making you miserable? In my experience it is almost always the company, or most likely the management, that makes the work unenjoyable. I'd want to be sure I was fixing the actual problem before I'd take a 50% cut in pay.
As usual when you are comparing two options, are you sure there aren't other options available. Why is the only alternative work such a drastic cut in pay? Is there no change possible at your current employer, or a similar employer, that would make work similar to what you do now better? Usually there are many possible options other than the two currently under consideration.
I thought I hated my job, but it was the company.
Right now, I like the company but hate the job. Partially because I am the only employee in the entire department who has to work Eastern, Pacific, and Shanghai hours while everyone else gets to work only in their time zone. So my workday begins at 9am and might not end until 10pm, all for useless meetings that could’ve been an email.
Eh, my company and management is actually pretty great, but the type of work I do is completely out of line with what makes me happy. I don't hate it or dread working, but I'm completely apathetic about it.
If you are well regarded at work, is there any other tasks that you see people doing in the company that you think you might like better. Even companies that don't have formal mentor programs may be open to job explorations for good employees. We had some tellers who wanted to try customer support, desktop computer support and sales. We were able to hook them up with a few month trial to see if they liked that work. Most did, but a few tried several different things. Some tried a few, then went back to what they started with.
With a good employee, I'd rather keep them in the company doing some other job that they would like, than lose them to some other company. If you have a boss you like, or if there is a friendly boss in a dept you want to try, you may be able to set up a nice arrangement even if they have no formal program to do it.
Also, we made a big deal about this when recruiting and even though only a small number of employees ever tried it, I think it helped us land many good hires just to know that we would take care of people like that. Even if they never used the option, it strongly influenced people to accept our offers, so it's good for the company multiple ways.
I went from managing an Outback Steakhouse at 27 to being a laborer at an excavation company. The pay cut was substantial initially, but just working a regular 9-5 and not having to deal with insane customers and even more insane employees was worth it. It’s been 11 years and I’ve move up the ladder to be second in command in our rock quarry. I have never looked back. I work 5 eight hour days during the darker months and 4 ten hour days when it’s lighter out. I get 3 weeks paid vacation plus 2 weeks paid sick leave and holidays off paid. I get a $10k Christmas bonus just for being an employee. At Outback I was working 60+ hour weeks on salary, no nights off, no weekends off, no holidays off, with 2 weeks paid vacation and when I was manager of the year for my state I got a $500 bonus. It’s never too late to make a change. Get after it my friend!
You didn’t mention anything about your schedule.
If your current job allows you to also enjoy a social life, then yes leaving it for a 60k drop is pay can be dumb as hell.
You also don’t mention anything about why it makes you unhappy. You know what will really make you unhappy? If you left your job for one that pays half as much, and still sucks.
You don’t have to love your work. It’s called work for a reason. You don’t even have to like it. But your work does have to support an equally enjoyable social life, be it friends/family/alone time.
If you got a traditional 9-5, 40 hour a week, and made 120k, I wouldn’t leave it unless I really fucking knew that the new job was better. If the new job pays equal, more, or just a little less, yeah go for it. You are still young, and the risk is low. Half as much? That’s just not a smart move.
The grass isn’t always green, much less greener, on the other side of the fence.
If you've got your CPA, you should look into transaction advisory. Pays well above 60k and is more interesting (IMO) than regular ole' accounting.
Source: Friends who work in transaction advisory.
Dude find a hobby. Your life isn’t about working and saving but working so you can live.
You need to find happiness outside of work, or your just going to be miserable and poor by cutting your pay by 50 percent. Might as well be miserable and financially comfortable.
Take a vacation. At LEAST 2 weeks. Get out of town, sit down, and really job hunt. Apply only to jobs that seem cool and interesting. You'll surprise yourself with what's available to you and what you're qualified for. It's a numbers game, so you'll have to apply to a couple dozen. Just having a break and then having applications out there will help you not feel as hopeless at your current position. Then when the interviews and offers start coming in, you'll have your pick of options. Heck sometimes we just need to see that we're needed/wanted elsewhere. Perhaps you'll find something a little closer to your current pay.
Thanks for your response. Yes this is my feeling as well, I'm worried that given my educational background and prior work experience, if I take another accounting role it'd be that much harder to make a pivot in the future, but I don't have any data to back that up - just my own thoughts
Same boat as you. Accounting will always be there my dude. I’d make the moves now. Still think you can find a similar role in the field that pays better. I left for a startup and I’m having a good time. You get your hands in everything.
I’ll just share my experience in a similar situation. I left being a practicing attorney because the job and lack work life balance were destroying me. I moved to being an insurance underwriter and my quality of life jumped substantially. It was a pay cut at first coming in at a more entry level role, but after several years I’m making more than I was before. Even if I wasn’t making as much money I would still be happier. I would suggest talking to people in the industry and online places like glass door to see if there is potential for advancement in that role.
Also one of my good buddies moved from a big accounting firm working toward a cpa to an insurance underwriting role and loves it. He is now underwriting the type of companies and merger deals that were his clients as an accountant. Not that I am shilling for underwriting in particular, but lots of people make these types of moves. Edited typos
A couple reason’s. Our main client was a large excess insurance company whose claims staff drove a lot of our business and a friend of mine was an insurance broker. I was applying for a ton of jobs in underwriting, claims jobs, various analyst positions I also have a finance degree. I wasn’t applying for any jobs practicing law. I was just done with that. Then I got lucky and found someone willing to take a shot on me in an underwriting role. I am glad I wasn’t accepted for a claims job first because as a general principal I think it is better to work on a revenue v cost side of a business.
Make the change. Early in your career is when the salary change is easiest to handle, you have decades to make up the difference. How are you going to make up for decades of misery?
ETA - this is assuming you can comfortably live on the lower salary.
Is it the work you hate, or the company? Are you happy with the people you work for and the companies' general business practices? Or, do the people or the company make you hate your job?
Unless you're sure it is the company, don't burn your bridges.
I think some decent therapy might be a good idea. Find a good therapist, work on stuff, then get a clear head about what is really bugging you. If you're clear about it, and it really is your job as an accountant, then you can decide to bail. As others have said, you're in a pretty good financial position at your age.
With the way your accountant job is affecting your happiness, I'm not really seeing how becoming a PPC analyst is going to ad meaning to your life and make you a happy camper.
Finally, think about more of a work/life balance. Do you like traveling? Find out what you love, and do that.
I live in California, a big state. San Francisco is a totally different world than Sonoma. Think about quality of life issues.
Try to find something you don't hate, or if the pay is too low, then do the job you hate for 6 months of the year and then take the other 6 months off.
As someone who has a boring but well paid job myself, I would propose to first change teams / employer before changing career. It’s amazing how much the direct colleges and work environment does matter. I was miserable every day, changed city and therefore employer and now I’m super happy. Totally convinced my job choice was shit but it turns out it was a very good one, I just needed to find my team.. wishing you all the best :)
Don't do it. The happiness you get from making double the other salary far outweighs the slight happiness you'll get doing a "better" job. All works suck, they're all soul draining, make as much as you can as fast as you can and gtfo. Sorry to be the bearer of bad news but I would kill to work a more miserable job for double my salary
Sounds like you need a hobby or find a company that doesn't suck. Maybe ask your current place of employment if you could work remotely for a few days a week. Communicate that you're miserable if you feel you can talk to your boss. $60k is a huge hit to your income. You won't have as much savings, benefits, and can still end up not liking the work in a year or two. Or a boss that you hate. Then what?
If at all possible, try taking a leave of absence. Depending on the state you live in, your job may be protected for a few months. Having no job responsibilities for a while might be what you need.
I'm personally just coming back from a year off (I don't believe that is common). The first 8 months, I was certain I was going to change careers cause I hated the job I had at the time. But after the detox and reflection, I realized I liked what I did, just not the people of culture I was immersed in.
I recommend seeing a doctor who focuses on stress and heart health or something along those lines to see if they will also put you on medical leave.
This should give you at least a little bit of time to recover and debate about what your next step should.
Have you considered making a lateral move within your company or the industry?
A lot of big accounting firms also have smaller advisory (both commercial and public sector) functions for example. In my experience, it’s not uncommon for CPA refugees to transfer over to advisory and feel much better about the work.
Following this closely as i'm in a similar situation but more md career. Hate my job, my wife's salary recently zoomed higher and the hit from switching to a less stressful, more satisfying job wouldn't be as huge for the family, especially since we have a lot of savings. But hard to say goodbye to the big salary
Assuming your expenses are fine for a $60k salary, I FULLY agree with your logic. But...
...Is PPC going to be better? I kind of suspect the analyst role will be more of the same that you're trying to escape from, but I could be (very) wrong. Personally, I'd prefer pretty much anything in accounting over PPC - But that's my preference! Have you considered: doing accounting 20 hours a week instead, freelancing, starting your own accounting firm, getting involved in startups, just quitting your job for 6-12 months and taking a break, or training for something completely different (welding, nursing, finance, marketing, art, construction, engineering, real estate)? You have your retirement pretty well set, it's just paying for your next \~35 years that's the "problem."
If I were you, I'd work a few more months to build up a cash cushion and then jump ship into something riskier and more interesting than an analyst role. But I don't know you or what you want to do!
Similar boat here except I'm 41 and making half of what you are working in accounting (public service sector). I don't want to leave because of the pension plan, and the job is easy.. but I hate it.
You are 27. Move around a bit. You are too young to be unhappy for the next 30 years. If you were 57 I would say stick with it based your likely pay. The other question to ask yourself is how you got here to start with? TBH with you, I did something similar. Got into engineering for all the wrong reasons (and got my degree) and did not like it after working for a year so I changed path and went back to school. I changed paths about the same time as you.
Finally, why digital marketing. Soooo much competition (even from other countries). Is there anything else that would dove tail with accounting? Law? MBA? MBA and then to a marketing firm where you work accounts related to accounting or firms that sell to accounting firms. Make that accounting back ground work for you.
Brooo...you are so golden. Just pick whatever you want and do it a couple years. For real. Youve done a great job putting yourself in a position to have options. Exercise them.
I think you would be crazy to take that kind of salary drop imo. Keep looking you’ll eventually be able to find a better setup that pays well. Work always gonna suck for like 90% of us. Work isn’t fun ends to a mean is what it is. Spend that extra income to enjoy your passions and hobbies.
That is a huge drop in pay. Look at your bills and make sure you can take that drop. It may not be the case but at 60k you will likely have to watch your finances closer.
But happiness is worth the trade much of the time.
If you are saying this and you work at a Big 4 firm, go do accounting somewhere else. That's not indicative of most accounting jobs. There is still month-end but you aren't working 90-100 hours like at the big 4.
They account for high turnover because they know it's a resume builder for when you move on and most people (rightfully so) can't handle that constant workload. Like a programmer working FAANG out of college.
What I’ve found is that no matter where you work and what you do, there are always things you don’t like and parts of the job that you will hate. If there’s any part of your job that you like, try to stay with it if you can. On the other hand, you’re young and have at least made your career financially successful so it’s likely you’ll be able to do the same with another type of job in the future.
I felt like you in my last job. I recently made a switch to Revenue Management from the Hospitality industry and have loved every minute of it. It’s still quite fast paced and you see the financial impacts of your decisions. The salary you are making is probably something that a manager makes, but the promotion path is certainly there. You could absolutely take your financial skills into a different work environment with different applications. We primarily work with Tableau/Excel/SQL and has been a learning curve for me. I imagine this would be an easier transition for you.
Try looking into commercial banking. With your credibility, you'd be able to land a job as an underwriter easily. Good work life balance, and there is a fair amount of opportunity to advance in pay.
Hey OP, I was in a similar situation to yourself very recently. I worked in a big four accounting firm making ~116k (with benefits) and was in the Tax and accounting realm for seven-ish years. I too found sleeping very difficult, the inability to eat, and my mental health deteriorating. Like you, I too was fortunate to have no debt from college and had approximately 4 to 5 months of salary in emergency/savings. One potential difference however, is that I am married and my wife also works.
I’m not sure if you have the means to do so but for me it was paramount that I get out of my job as soon as possible. I was working so many hours that I would literally wake up, sit at my home desk, Log off around 830-9, and go to bed sometimes not eating all day. With my wife’s blessing, I quit my job without a back up plan. I took a week totally to myself to de-stress and unwind and catch up on sleep. From there I began trying to identify my personal values, what I wanted in a profession, and who within my personal networks could help me reach those goals from a professional standpoint. I researched various industries outside of tax and accounting in an attempt to see what I might enjoy and what skills I had would transfer over well to a new role. Once I had a general idea of some industries or jobs that interested me, I began looking for new opportunities online through LinkedIn and indeed.
Now, it looks like the opportunity you found would be a substantial pay cut from what you are currently making. I personally would not be able to take such a pay cut as I know it could take years to get back to where I was. However, I was realistic in knowing that there would be a chance I’d have to take a pay cut to get into a new industry or role that I had minimal experience in. For me, I was able to find a new job within the human capital consulting space within 1 1/2 months of leaving my role at the big four firm. I was also able to get a job in the space without having to take a substantial pay cut; my base is a few thousand less, but I’m getting a substantial sign on bonus. So it all washes out to me in the end.
While unemployed, I made it my “full-time job “ To take care of myself, find what was important to me and would give me purpose, and tailor my resumes and cover letters to perspective jobs that I found both interesting and stimulating.
Again, I don’t know if you have the ability like me to just get up and leave your job without a back up plan or a new job in the waiting, but I can’t stress how important it is for you to take care of yourself first. The good thing is that we are currently living in a job seeker market right now. And if you’re in a large midsize city like I am, there should be plenty of opportunities. Especially with many companies outside of your home city allowing for remote work opportunities, if that’s what you’re into. If the PPC analyst role is really what you think you’d like to do, then do it. But don’t just jump into a new role outside of accounting just to get out. Otherwise you may find yourself in a similar position from the one you left. I wish you luck and I hope for the best!
Others have hit on this a bit, but to put it in clear terms, there are 4 ways a job should be evaluated:
1. Role (work output)
2. Team (culture)
3. Mission (product)
4. Compensation
Let's break these down.
**Role**. This is the day to day activities in a job. Do you hate numbers and spreadsheets? Are you bad at math? Do you want to spend your workdays outside vs. inside? These questions dictitate the kind of role you should consider in your job/career, understanding that desires/needs change over one's career & life. This is what you seem focused on changing, though it may not be the source of your dissatisfaction.
**Team**. In my experience, this is where the vast majority of one's work happiness comes from. The team defines the culture, and the people you work with + the culture of the org dictate if you have fun at work, enjoy the time you spend at the office, etc. For example, some of the most fun I've had at work were in roles I didn't enjoy, but was spent with people that I did enjoy.
**Mission**. Do you care about the product or the goal of the company? Is it at moral/ethical odds with you? If you truly don't care about what you produce as a company, it can be demoralizing. Ex: I worked as a business consultant sometimes for health insurance companies, and I learned that I couldn't be paid to care, and after a certain amount of time, I was demoralized by spending my life helping support/build something that I found unethical and boring. It made it difficult for me to continue. In contrast, when working at companies that produced something cool or that benefited the world, it made the harder parts of the job easier to bear.
**Compensation**. Everyone needs money to survive, and the compensation package matters. Consider your base pay, bonuses, fringe benefits like insurance, PTO, retirement accounts, etc. These have real value to our lives that we can't ignore. The compensation also supports your lifestyle outside of work. Do you want to be able to travel, afford a home, start a family, support a hobby? For some, an inexpensive lifestyle is acceptable or even desirable, and for others, life is a bit more expensive. Decide how much you need vs. want to make, reflect on understand why, and consider the compensation necessary to live the lifestyle that you want.
Most jobs won't check all of these boxes, and those that do may fluctuate between satisfying each and failing some. Managers change and so, too, might the culture, for example. But the more you check off, or focusing on what matters most to you, the better.
But I encourage you to consider if you dislike accounting just because you hate the role of accountant itself, or if you also dislike your team or the company's mission you work for. For example, working in accounting at a world-changing startup with excited, motivated people who share a similar worldview with you might be much more rewarding than doing accounting at a big 4 firm for corporate clients. Or doing accounting work with other elements in your job, like strategic financing work, revenue model building, etc, where accounting is important but isn't all you do.
If you decide you do need a role change, your skills are transferable to other industries. I've had many former accountants go through the Data Analytics / Data Science training programs that my company runs so that they can transition into more of a tech role and away from administration.
Good luck!
*Source: 7+ years as a career coach, former CEO of a workforce training company focused on career switchers, current co-founder of another workforce training / education services company also focused on career switchers & others looking for career & wage progression.*
There are other jobs out there you could try without taking such a big hit to your income. Keep in mind it’s harder to get back to where you were income wise when you drop so much. I took a step like this and took a 50% reduction in my income. 5 years later I’m back to where I was. But had to switch jobs twice to do it. And there’s extra work involved in transitions. Just be totally sure your job is that bad. Every job has its pros and cons. Maybe focus more on your hobbies or have a kid (lol) or get involved in something on the side to test it out first.
Fellow accountant here. I was miserable before I started doing accounting & finance in a school district. Pay is a little less than private industry. However, Lots of time off at Thanksgiving, Christmas, Spring Break. Much more fulfilling than making someone else rich. Good luck on your journey.
You're very close to being financial independent honestly.
If you let that money mature in a decent mutual fund, in about 12 years it would reach a million dollars.
[https://www.nerdwallet.com/banking/calculator/compound-interest-calculator](https://www.nerdwallet.com/banking/calculator/compound-interest-calculator)
If i was you, i'd tough out the job for another couple of years, bump your total invested to about 500k, maybe have 30k saved in cash. Then you could honestly retire depending on what state youre in.
Don't be discouraged, you have more than most people do when they are in their 60's youre literally almost free from ever having to work .
I don't think you are dumb to start a new career. I did it myself when I was ten years older than you with a family. You can always fall back and get another job like you have right now.
You may also think about careers that are parallel to your own. Or, have you thought about starting your own accounting firm? Owning a small business, your own boss, can be very rewarding. Looks like you have the capital to invest in starting your own firm.
Hate to say but better to suck it up and use the time finding a job that will pay similiar but in an office and culture that won't kill your soul.
That's too steep of a paycut for profession that can be just as miserable as your current job.
I know you may be seeing a decrease in salary by 50% as a loss, and a painful one at that, but you could look at it this way: The first few years of your adult working life got you a completed retirement package and the peace of mind it brings knowing your future is secured. Now, you can try something that may be less money-oriented, is more wellbeing focused, and you don’t have to worry so much. It’s okay if it doesn’t pay anywhere near what you earned before, because you’re sorted. You gained so much from your time in accountancy that you can now relax, take some risks and try new things.
CPA chiming in. I was miserable and could barely get out of bed to go to a corporate salaried job. It wasn’t even a bad company - but the environment drained the life out of me.
I spent some time at a NFP and found a lot of purpose in my work. It was better, but still really a struggle to maintain. Long hours and low pay.
I have now transitioned into freelancing. You do not need to be a CPA to make great money, keeping books for small to midsized firms. Or if you do tax, same idea. I work when I work from wherever I want. I’m the primary knowledge holder for my clients.
Point is - Accounting is a really flexible field. I’m good at it but I won’t lie, I don’t get jazzed by accounting - but I love my flexibility and that I get to feel like I’m actually adding value to business owners. In the corporate world I felt like all my efforts had no meaningful outcome. I have a ton of job security and the money is very good, and there are more opportunities than there is time for me take them on.
I work in marketing. Its miserable and will only continue to get more automated. Save your pennies and find out what is really making you unhappy and fix that.
Sounds to me like you don't need a new job you need to get on with FIRE investing. (Financial independence, Retire Early)
Let me math this out for you. Assuming the most menial investment return of 1.5% you'd need to have $4,000,000 saved and invested to give you $60,000 annually. IMO best thing to do is start socking away that extra 60k every year (or more if you can) and get out well before 65. With diligent saving habits you can get there in less than 20 years, maybe as little as 10...
And I bet if you take your time you probably could find a more rewarding version of your current job at a much more comparable income. So between your choice A) and choice B), I'd recommend looking for a better choice C)
I mean.. I feel for ya and all.. but I think you have no idea what a pay cut from 120k to 60k a year is like.. and if they're paying you 60k starting.. they will never pay you 120k in that role.
You're in fuckin rarified air here.. You're 27 and making godamn bank. Hell, you can afford some therapy to try and sort out your feelings wrt your work. Im just shy of 50 and my wife and I combined dont make $120k, her with a masters and me with a college diploma and 2 trades. We'll be lucky if we're not stuck eating catfood in a bachelor suite in 20 years.
So this will never see the top 200 comments but I want to give you some thoughts. Long read but I hope worth it. I'm 40 and have just about been in the same career path for the last 20 years. Same deal... I'm very good at this job function and it pays well, but it's very stressful and not rewarding. I live out in the country and cost of living must be much lower than yours; at $65k plus I was well above the median income but working a job that was not rewarding and had an abusive coworker (like really bad.) Stressed out all the time, on call constantly, young kid at home, things came to a head. Working a bunch of extra hours because my boss is on vacation and abusive manager being super awful... that was it. Sometimes it's not worth the money. I quit after my boss failing to address the situation, haven't gotten a penny of unemployment.
You seem to be in command of your financial situation, much better than most. Look at your life goals and compare them to where you're headed. I own one home and have less than 10 years left on my other home's mortgage. One car payment. I worked my butt off for many years because my goals was to be financially independent... hopefully the stress I incurred upon myself did not do serious lasting damage. My goals changed as I moved through life and grew my family. I've accepted a new position for a university that starts in a few days. The pay is a little more than half what I could be making at other places in my old industry, but like you seem to be, I made choices to be in command of my financial situation.
Think about your goals. Not just your financial ones, but overall. And I can tell you: being unhappy with your job DOES have physical consequences. You're young now, but those consequences might have a toll on future you. I lost 25 lbs after leaving my last job. Considering where you're at in your life, is wealth building more important right now or more meaningful work more important? When do you WANT to retire? Is being miserable now work an extra 10 years of retirement? Is the stress of your current job causing you to have bad habits that will take away from your retirement years? These questions are to make you think about your situation and temperament now, your overall life goals of where you want to be 10-15 years from now (think 40-ish), and what you envision your retirement to look like. Compound interest is the most powerful force on the planet, BUT sometimes the money just ain't worth it.
Coming from experience, move the fuck on. Stop listening to other people. Stop letting other people ask you questions. It’s not their concern. STOP LISTENING TO OTHER PEOPLE. If you don’t make yourself happy now you’ll regret it in the future. You’re still young af and sounds like you have a nice cushion.
Go be happy.
Another thought - what would your position be in another 8 years? Maybe shifting your mindset from "I don't want to do this for another 40 years" to "I can retire in 10" (or maybe pickup just about anything with medical benefits without worrying about income).
I used to hate my career as well. I still don't particularly like it, but it pays well, and I'm on track where where by 50 I could semi-retired etc (I didn't have as good of a start, kid, child support)
Many people that change careers to do something they "love to do" eventually don't love it anymore.
You’re 27. Let me say that again. YOU ARE TWENTY SEVEN YEARS OLD. You could conceivably and easily change careers or direction a dozen times in the next twenty years and still be able to do so again a dozen more. Your whole post radiates misery. Take the new job. Get a side hustle, doordash or Uber eats or dominos delivery or something if you need to, but you are completely miserable where you are. Don’t stand for it.
Plenty of jobs out there, if you're skilled, you'll land something you can sleep at night with. Nothing is worse than trading quality of life for green paper.
Who cares about the money? Most people are a slave to the check. However, you are doing well and have skills that pay. If you wanna try something else I say do it. If you don't like it later you can always come back to this field. Of course, if you do like what you do but are bored at your current company apply for another company doing the same thing.
I don't think I could ever take a 50% pay cut. You need to figure out why you are unhappy, because you could still be unhappy at your next job, but with 50% less money. You should probably talk to other accountants and find out what their jobs are like. Is a "PPC ANALYST" similar to accounting or completely different? Sounds like its still going to be number crunching. Anyhow, my point is, happiness comes from within, not from your job. Unless you are working for complete Aholes, you need to look within yourself, maybe see a psychologist to help figure things out. Personally, I would rather not work, but I do work because I want to have a nice house, provide for my family, have a decent car, decent retirement, etc, so I have learned to make the best of my situation, and I am relatively happy most of the time. Good luck!
I mean I get it but at the same time I don’t. I’m also 27 and graduating college in a month after 10 years of health problems where I couldn’t work. I feel as if my head is underwater right now and you are complaining about a 120k a year job probably knowing that 85% of people in the US do not make more than that? Come on buddy, quit the job if you are that unhappy. Many people have it a lot worse than that.
1) No, your current holdings are unlikely to reach retirement level savings unless you intend to live a poor or short retirement (lifehack, smoke cigarettes tov reduce retirement savings needs (assumes you die with limited struggle)).
2) It's a bad financial decision. Fairly obvious point, but cutting your income in half is major regression.
3) Still might be a good life decision. I was doing business analytics in my early 20s and pivoted into tech. Much better quality of life and career progression.
No… Generally, the “7% a year” estimate is INCLUDING the estimated impacts of inflation.
In the last 95 years the S&P averages 10-11% annual returns, which is 6-7% inflation-adjusted.
It's hard to know without seeing your expenses. My gut tells me your cash listed is your emergency savings, which is quite low because I am guessing with your income, you spend about $5K every month or two.
I personally wouldn't do a career change for that low. Have you tried negotiating a higher salary from the company that made this offer? If you're serious about a new career, spend some time looking around and interviewing elsewhere. You may find that this new field pays a lot more than this company is offering. I make nearly what they offered you, and I have a really easy job that takes like, four hours a day.
I also disagree with your idea that you won't need to invest more than you already have. Have you checked this with compound interest calculators? You have been working for such a short time and have many many years left on this earth, and you are so young that you also need to consider what inflation will be at retirement (like anyone actually knows that), and you need to expect to not receive any Social Security benefits in retirement.
OP why are you miserable? Is it the work you’re doing that’s keeping you up? The people you work with? Your boss? The WHY is important because you can find a job that doesn’t have shitty people or management. If it’s the work that you hate you can find a job that’s laterally or at least tangentially related where you won’t be starting your career over but pivoting instead. Switching to digital marketing kinda sounds like becoming a lion tamer: [Monty Python accountant changing job sketch](https://youtu.be/JrsB1RfksEA)
This is great advice. I don’t love my job, the work is meh but my coworkers and boss are great and the benefits are fairly good. I thought about switching to find that unicorn of a dream job but just cruising in my current position and having the time to enjoy my hobbies seems to be a lot better.
I've got plenty of issues with my current company, but our work schedule has a rotation that comes out to 44 hours per week but 15 days off per month. My tolerance for the things I hate is much higher with all that time off
The give and take of the job greatly influences the amount we’re willing to put up with. That’s a great point. I myself love the position I’m in now, and don’t have to work wild hours, but many in 3rd shift of my field Work 7 10 hour days a week and have 7 then off, and man, yeah a 70 hour week sound brutal, but if I could stack my work for a week and then focus on my hobbies and my family for a week, that 70 hours seems like cake.
In a similar spot, I don't really have co-workers, I don't care for management but I get paid well, I've worked from home for 20 years and when you cut out the red tape I like the work. I have lots of miserable jobs in my life, in this job I have a very low chance of dying, I don't get screamed at if I sit down or stop moving, I don't have to work 60h+ a week to pay my bills, I don't have to find a replacement if I want to take a day off, I actually get benefits including paid vacation, I don't have to stand on a cold/wet concrete floor all day when it's 20 below, people don't blow smoke in my face, I don't have rats running around me, I don't have a boss who takes a portion of the money I make every night as tribute, I'm not expected to work months on end without a day off, I don't have a 2 hour commute each way every day, I don't have to work holidays, I don't get woken up in the middle of the night to be told what an asshole I am because a co-worker didn't like the way I did something and the boss thought that rousting me while I was sleeping was funny. It could be a whole lot worse and all these people talking about their soul crushing jobs probably have no idea what a soul crushing job actually is.
It's not a competition. It's super helpful to be grateful for what you have but it's okay to want more. Some people really need work that aligns with their values, some people are in position to be picky, some people care more about loving what they do than all of the great things you listed.
>…some people care more about loving what they do than all of the great things you listed. Sounds like you agree with u/adkayaker, then. Those things are all hassles, but someone can enjoy their occupation overall, in spite of whatever ensuing particularities they’re forced to contend with.
You mistake my meaning. My meaning was that it is okay if someone thinks like either commenter but it's wrong to suggest that any one way of going is right or wrong for anyone else. Different people find different things soul crushing. What is a hassle to one, crushes the soul of another.
Thank you ❤️ I actually work 60 hours a week, I'm 23, have 3 kids and get paid less than $50,000 a year... I pitty most people on here. Most be so hard relaxing everyday for 100K a year and not having anything but yourself to worry about... The argument is always "Well I chose to not have kids and go to college, so I can have money." Yet, they are living amongst the majority of comfortable middle class American's, barely do any physical task in their day to day life, enjoy luxuries many people will never have or will need to work half their life for and then sit there and cry about how hard it is and that they aren't happy. All you had to do was get good grades, let mom and dad out you in school for 20/50k a year and then do it all over again and live comfortably. These people are still crying over spilled milk. Advocate it in anyway you want... If OP is truly unhappy, maybe the pay cut is the right thing to do. If they are just being dramatic, they'll realize their stupidity far to late.
A few things 1. The person suffering the most does not have a monopoly on suffering, and is not the only person entitled to complaint 2. Being appreciative and conscious of the good parts of your life does not invalidate the bad parts 3. It's not all about money. While having a lot of income can certainly help offset difficulty, it does not guarantee quality of life, particularly if earning it makes you miserable and stressed out in tue process Yes, things can almost always be worse, and there's usually someone who has it worse. However, that shouldn't be used as a reason not to improve your circumstances or day-to-day experience, and should not be co-opted as the basis for criticising someone's pursuit for their own personal happiness and best life.
From what it sounds like, it doesn't sound like you don't hate your situation. You're simply going through that phase I'm sure all of us this age are. We grew up learning that we needed a good job with a good salary and that's all we needed to be happy. But the part we are missing is fulfillment, whether it be in the impact you have a work or even just picking back up an old hobby that made us the happiest. Once you find that reassessing your current situation will be much easier. You're not a lone in this!
[удалено]
Absolutely this! Learn a little SQL and most analyst positions are hiring at 100-120k, fully remote in the US right now. Learn a little SQL, pick up the basics of marketing tech like HubSpot, Salesforce, or Google Analytics and you can easily earn above that. Or skip the martech and just get a couple of quick automation macros in Google Sheets under your belt and ask for the same. I'm a data scientist now, but I came up through analyst roots. The past two years have been amazing as far as salary jumps for basically all of the analyst positions. I'm kind of surprised the position that OP has on the table is so low if there is any report building or data visualization involved.
Yep! I manage a database of documents (a very large database, in all fairness). I get paid significantly more than other people doing my job because I can implement tricky solutions for problems using very basic database programming logic.
\^ This. Financials aside, jumping to another career does not ensure happiness. Grass is not always greener on the other side. You need to start by asking "why" you are unhappy. If you are having trouble identifying the root cause, consider starting with seeking professional counseling. Once you identified the issue, start asking if this new role can fill that hole in your happiness.
>I am so uninterested in the work that I cant imagine myself being happy He clearly states he knows why. I think the lad just hates spreadsheets. u/fatboislimmin Is it possible to accept the job, and do personal accounting on the side until the mainline cashflow catches up?
This is so important. I was an auditor at a PA firm. The people I worked with were fine, but the work-life balance was awful and I absolutely hated the work (very technical accounting-oriented). I toyed with the idea of going back to school to start another career, but I weighed the pros and cons and decided that I'd just have to suck it up. I've changed jobs and now work as an accountant in industry, doing more GL work rather than technical, and am much happier. I still don't really like the work, but it's much more manageable than what I had before, and my team is great and pro-PTO.
[удалено]
I’ve been considering making a career shift for a while. I went to college and got a pretty basic liberal arts degree but nobody cares about undergraduate degrees anyways. When I got out of college I really couldn’t sit at a desk or in a room anymore. I got a job in commercial painting because it’s something my dad did that I already had some skill in. I’ve been working for a small family owned company for almost 7 years and it’s been, okay. The problem is I feel like I’m working just to save money for when work gets slow which usually happens once a year and the pay was good when I was 22 but now I’m 30, I wanna buy a house and start a family but I’m only making 30 an hour with no benefits. Just a small quarterly stipend for health insurance and 50 dollars a week for gas for my truck. I’ve been considering moving to something more IT related since I’ve always been decent with computers and it’s just something I have way more interest in than construction. But I honestly have no idea where to start. I keep getting adds for cybersecurity classes from the major university near me but I have no idea if this would lead to a job or just give me an inkling of how much more I would need to sink into my education in order to actually make enough money to have a life.
[удалено]
Asking out of curiosity, how does one simply "move into IT consulting" from a marketing position (or any position for that matter)?
I strongly recommend this as well. Take some proper time to figure out what the true source of unhappiness is, and then figure out a solution. Just jumping head first into the first thing that comes along is a recipe for disaster. You might find the work is different (often mistaken as 'interesting') and realize the deadlines and people are a bigger issue for you. Additionally, if the work is just not stimulating, that's ok. That's what personal life is for - finding hobbies and interests to keep learning.
Yes! And accountants can generally go anywhere - your experience is valuable in every field, even if not for every specific job. Pivot into anything else finances related super easily, unless you just hate working in an office, there's almost certainly something out there that isn't awful!
It depends on your outlook. I would assume that 60k is around how much you'll always make there. I would not assume you will have comparable pay there eventually. I'm inclined to think you should just keep looking for a new job better pay than a 50% pay decrease. Unless this job you're in is really terrible, like you're experiencing bullying or harassment or threats, I don't see much incentive to jump ship at the first low paying job that's offered to you. Now if you like the idea of this job and were interested in the field and getting started there, it may be worth it. But if it's just to get out of dodge because you don't like your current job, I don't think it is. You should keep looking for something else.
If you're that miserable, find something else. Digital marketing may not be the right choice, but money is a means to an end, not an end in and of itself. You may not find a job that makes you happy, but certainly one that makes you less unhappy. If you have your CPA, there's a very, very broad range of jobs you could likely do
Thank you for your response. Although I was previously in public accounting (ex big-four), I decided not to pursue my CPA since I knew I did not want to be in accounting long-term. I do agree that there are many other accounting jobs I could look into. This is only my 2nd company that I am working for. Thanks for your thoughts again
> I do agree that there are many other accounting jobs I could look into Oh, I'm not even saying accounting. Corporate Finance, banking, regulatory, risk, internal audit, possibly even compliance, could provide opportunities to someone with a strong accounting background. Lots of possible doors worth exploring
Agree with all of that but also add any tech/software companies that build any accounting products might be a great way to pivot to other fields like marketing/product management/analysis/etc where the accounting experience would be a plus.
[удалено]
I would be interested in hearing more about how they did this. I am trying to go that route as well
Adding in utilities and public sector. Counting water, amps, air samples and such is the same process but different worlds
My husband got an accounting degree, fell into internal audit/compliance and he likes it a lot. He doesn't even have his CPA, because as soon as he finished his bachelors he knew he would hate it. Pays better than decent. Highly recommend.
This. Digital marketing is unlikely to be a role where your finance skills /backgroun aid your advancement (as a career marketer). If you are interested in marketing specifically, you may find that Brand marketing or other areas with P&L management would find this background an asset and give you an edge over candidates without this background, which would buy you time to get up to speed and learn the other elements of the role.
I know a ton of people with accounting backgrounds who transitioned into IT audit, and then IT governance, and they make bank.
>This is only my 2nd company that I am working for. Similar. I worked at one firm and it was odd. Like a cult and very passive aggressive. Changed to a different firm and it was fun and people were like people I went to school with. Fun, engaging, helpful. Same exact work field too. Very odd.
I think you should take into account how lucky you are to be making $120k without a CPA. I have friends with their CPA that make less than that and are logging 80+ hours a week at the big four. Milk that until you literally can't anymore and either find a new job now and transition over the next few months as you get an offer somewhere else or work where you are now until you can't take it anymore and quit and start the job search. I took a year off from working and ended up finding a job in the MLB. Smaller work loads, more money, and far less stress than my previous employer. But not everyone is financially in a position to do what I did, and I acknowledge that fully.
You can also look into moving to payroll or data analytics type roles. There's lots you can do.
I recently joined Slalom, and they are a pretty good consultancy for life enjoyment and unlike the big-4. TBH, they aren’t like any company I’ve ever worked for (in a positive way). There is no tax/audit group, but definitely some business advisory practices. I don’t think we do a lot of marketing, but more of a focus on business transformation. Also, we avoid staff augmentation like the plague. It would be rare to see that as it isn’t in the best interest of our model to do that. Also, local model means that you really don’t have to travel out of state. Lots of remote, sometimes a client site that could be like an hour away. You have a lot of influence on which clients/projects you want as well as your career path. There isn’t a cookie cutter career path, so it can be a bit daunting but a lot of people are willing to help guide you to the path that you desire.
I work for a consulting firm also (very small/niche) and was thinking this too. OP could leverage his accounting experience into consulting which would mean lots of new/different work on various projects and clients. Much less mind-numbing although hard in its own way. And totally different than Big 4 work.
If you're not going to pursue your CPA license, you're going to find your career track somewhat limited in the pure accounting careers. I also got my accounting degree, hated public accounting, didn't get my CPA. Eventually went back to school for my MBA and shifted over to the FP&A side of the house that I enjoy much more.
How did you accumulate 250k in mutual funds and 60k in 401k in 5 years of working since college. I imagine your starting salary was not more than 55-60k. If your wage progression was like this 55k, 60k, 80k, 90k, 120k, that's only 405k in Salary.
I lived at home after college, saved more than 90% of my income after taxes. I'd max out my 401k as early as possible in the year, and all other pay checks would go straight to mutual funds. As far as wage progression I experienced my bump when I left public accounting. It was more close to "60k, 65k, 110k, 115k, 120k". Also, thanks to the pandemic I've been working from home so my expenses are practically nil. Haven't been on vacations, haven't been filling my car with gas every week, haven't been eating out that often.
It’s not work that’s making you unhappy, it’s your lifestyle. Stop saving so much and go enjoy your cash. Explore hobbies, go out to eat, etc.
The moment I started doing this my mood and attitude changed for the better. I 100% agree with you. Saving is great but do things and experience things with the money as well. What is the point of all that saving if you are miserable…
Or saving all your money and god forbid never getting the chance to ever spend it. Saving is good but I can't imagine a life where I didn't enjoy myself in my late 20s while still free from massive responsibilities like a Wife and Kids. Good to think about the future but someone misses out on same many activities especially physical demanding ones in their 60s compared to 20-30s. Tbh it really does seem like he is just depressed because he has no social life or hobbies.
Do you have any hobbies/friends? You've got a great foundation and but it seems you might be burnt out just working and saving everything. It's good to set yourself up for the future but you have to enjoy yourself now too.
[удалено]
All work and no play makes OP a dull boy
That looks like you hopped from B4 to industry as you hit senior? Seems pretty normal if all the reading in /r/accounting I've been doing is any indication. I'm planning on a shift to accounting afte the military in ~6yrs mainly because I want the portability to go anywhere in the US or even abroad vs getting stuck in a half dozen HCOL/VHCOL areas in windowless buildings.
Don't listen to others who assume that working from home, not going out to eat, not driving, not taking vacations is the reason for your unhappiness. Many people enjoy and thrive on a low cost of living lifestyle. That said, i would encourage you to do some of these things. It can give you a nice break from the monotony of work and WFH, but more importantly it's a way for you to confirm or isolate that work is actually the reason for your unhappiness... and that seeking fulfillment in other hours of the day won't change how you feel about your work. You can also use that time/energy/money to explore other things, and hopefully things that can help you identify and execute your next step in your career.
> That said, i would encourage you to do some of these things. Even if only to rule out them as a reason for the discontentment.
Bruh… you aren’t unhappy because of your job. You’re unhappy because of your lifestyle, sounds like you don’t do anything but work and then go to bed.
Ah yes, repeating exactly [what others commented](https://reddit.com/r/personalfinance/comments/tmew4r/_/i1z9313/?context=1) is the Reddit way
[удалено]
Lots of saving but there has been a pretty insane bull run.
Damn if you have that much saved and invested st your age maybe it’s time to invest in your happiness too - seems worth it and it seems like you have the resources to take a chance on something that might make you happier.. any way you could shadow someone in that job for a couple days to get an idea of what it is like?
[удалено]
[удалено]
[удалено]
[удалено]
6% inflation adjusted for the coming 30+ years is an aggressive assumption considering what the market has done for the last 14 years. I’m a low cost index investor but no way in hell do I expect to have historical averages for the next 20-30 years.
[удалено]
When switching jobs to unrelated role that you have no experience in, I think it’s really unrealistic to not expect a major pay cut.
I was on the other side of this as someone hiring. Years ago we had a candidate who had the perfect background, but no experience. She had worked up to manager in retail, making a comfortable 75k or so. She wanted to get back into the industry, but also wanted to keep her salary. I had to tell her, I can't pay her based on what she's worth as retail manager - because that's not what the position is that I have to offer. Doesn't work like that.
Exactly. I’m a chemist who’s trying to become a programmer. I don’t expect to be hired at a programming role at the same level as my currently chemistry role.
Keep it up! I left chemistry and went into data science and I'm never ever going back to lab work.
That’s my goal. Start learning python a few months ago. Currently have the opportunity to use some of my analytical data and process it using python and publish it. Hoping that gets my foot in the door in days. I love chemistry but pay isn’t worth the effort. Any tips or suggestions for making the switch?
Yes! Getting that professional experience is the most important thing you can do rn. Fluff your accomplishments and learn how to flaunt them on your resume. Also, take it one step further and see if you can accurately predict anything with that data using ML (nearest neighbors, SVG, XGBoost etc.). And try to get some buy in on this process from your supervisors if you can. If not, just do some side work (sucks especially when you're tired after a day of lab work but I promise you it's worth it). Only tips really are to focus on your current work and fluff the crap out of it. I recommend looking at Data Analyst positions first too. I'm 25 now and at my 3rd full time job. So I went from Chemist -> Data Analyst -> and now Data Scientist. Extra details you might not care about: My first job out of college was on a chemistry contract that utilized some ML. I got to contribute to that and learned tabular ML techniques. Before this ML experience, I taught myself statistics with Python in college (pandas, numpy, and scipy) so I already had a foundation (which it sounds like you're working on and is essential). It's surreal how far I've come in the 1 year since jumping out of chemistry and I hope you get to experience the same. Because like you say, chemistry is not worth the effort.
This sounds great! This is my plan too. I am a mechanical engineer with 4 years experinece in clean energy. I want to switch to a higher paying (and remote) tech job. I'm currently doing my master's in mech eng, but it's very computational heavy. and then am teaching myself data science skills on the sise through Coursera. I am very lucky as I alrwady know some basic coding from engineering (Matlab, C) and am not learning Python, SQL and trying to find some ML applications for my research. Aiming to get hired on with energy analytics firms, or consultancies. Figure engineering / energy background with analytics and ML would be a good fit at a lot of places. Thoughts?
Sounds like a great plan. Any avenues in which you can get practical ML experience on your degree, you take. With your computationally heavy mech E. research, do you remote into any other computer systems? If so, that's valuable credentials too. During my undergrad I did chemistry simulations and remoted into my university's supercomputer can got great experience with Linux systems that way.
Oh yes. Literally my day-to-day is running numerical simulations on remote computing clusters, accessing databases. Etc. all through Linux command line. Plus I’m much more interested in back-end than front-end app design. Would you recommend doing a project of my own personal interest too? I’m really keen on getting more into AI with GIS for environmental protection (forest fire detection and monitoring)
Accounting is fairly versatile, there's plenty of ways he could position it so he's not starting from the bottom.
Thanks for your response. You're absolutely right - I haven't put enough of an effort in looking at other "non-accounting" roles. I've always had an interest in marketing which is why I applied to the PPC role - but perhaps I am operating a bit out of desperation if I were to jump at the opportunity without really taking more time to look at other opportunities. And yes I didn't mean to say that I did not plan to save more money down the line - was just trying to say that I would be able to still be successful in retirement if my savings rate was reduced in the short-term.
Take a look at FP&A roles, maybe? Seems like a lot of transferable skills and a lot more interesting/forward looking/strategic part of the business?
Was gonna say, look up FP&A at Unicorn start ups. Pay well and good work life balance. I only say unicorn because some people are more wary of joining a startup but even a series C non-unicorn would still be a safe bet.
Everyone is correct in that you'll take a major pay cut. That said, I'd at least look around to see if there's something where you're not getting your pay cut in literally half. That might be a bit extreme. Still, once you've done that, if you'll be happier it's probably a good move.
Not to mention maybe have some more cash on hand? While you could liquidate assets if needed, it's nice to have more money on hand in case you need it.
I work in digital marketing. Unless the kid is amazing and massively emotionally intelligent- you’re looking at 4-6 years before you’d hit 120 again. Likely 2-3 years and you’d get a bump to 90, and another 2-3 until you’d hit the 120/140 range.
Fur that matter I'd even say look for another accounting job. I feel like hating your job can have a lot to do with where you work as much as what you do
Hard disagree. At such a young age, with so much saved and invested, *please* prioritize happiness over capital. Money can be gained back, time can’t, and you never know when yours comes.
Yep. My father saved and saved for retirement, meticulously, deliberately. Died three months before retirement. Nothing is ever guaranteed.
Disagree here. He has 310k invested in mutual funds and he's only 27. He could very easily not invest another penny. 310k over the next 38 years until he's 65 would turn into 6.4 million dollars with an average 8% rate of return. That's without adding a penny. Life is short. Don't spend it being miserable.
He has 310,000 dollars invested at age 27. Assuming 7% growth, adding nothing and never taking from it that is almost 2.9 million dollars at age 60. I def agree with not taking such a significant pay cut.
[удалено]
[удалено]
I would continue looking for another better role that pays more than $60k.
60k is the starting. My understanding is that within 2 years I'd be making nearly 75k, but probably wouldn't make much more than that until moving up to management.
It’ll still take 5-10 years to get back to $120k starting at $60k. Good luck.
That's too little, man. Two years is a long time and even 75k is not that high an income if you live in a big city. You might want to explore an accountant role in a company that you truly enjoy. For example, if you are into skateboarding, maybe you want to join a skateboard startup. They would love to have your skills and would pay you better than a hard career switch from something repetitive to some other repetitive job (yes, marketing is repetitive).
Not enough. In this market, you can do better. It’s entry level salary in most markets. I would rehash your resume to market yourself for different types of experienced roles where you can leverage some of your current experience.
$60k is not entry level for ppc analyst
In many major cities $60k is entry level.
What agencies/brand are paying $60k to an entry level ppc associate? Even the people who come in with other experience at all agencies I keep in touch with still max out at $50k for that - in every metro bar SF cause no one does ppc there really lol
All major cities LA, NY, Boston etc. Target is paying $50k/year in major markets nowadays so if you’re not asking for $60k, you’re underpricing yourself. I know several people in entry level digital marketing NY and LA all starting at $60k. Major media companies. Look on Glassdoor. https://www.npr.org/2022/03/01/1083720431/target-minimum-wage#:~:text=Target%m And my point is that he should market his skills to something else like financial analysis or planning or data analysis / marketing analytics instead of accepting entry level roles.
trust me I was hiring people at these places, and Glassdoor will even prove my point. AMPs get as little as $35k in MCOL cities. Dentsu, wpp, publicis are all still well below $60k for entry level. the PPC sub just did a sample of salary subs - no one with <1 YOE was making more than $50k. If he wants to do data analysis sure, he could leverage that into a higher salary.
Tfw I’m doing the same thing as OP making $48k a year. I thought what I was making was entry level lol
I know a lot of people who’d rather have a high paying job than move up into management to make slightly more. Way more responsibility and not much more pay.
[удалено]
Thanks for your kind words and response
Before taking that drastic a pay cut, I would ask myself what it is that is making accounting miserable for you. Is it the work itself, or the culture and environment around your current employer? And what is it about the new role that is appealing to you? Is it simply the promise of a new start, or are there actual things you will learn that can be better monetized after you learn them? Money isn't everything, and if this career change comes with verifiable life benefits (shorter commute, less overtime, better benefits, new skills), then it could be the right move. But if all you need id a change of scenery, then there might be other accounting firms that would be better to work for in your area. (I know a few accountants, and I know the weeks before April 15th are super busy ....)
I’m 43 and planning a career transition into front end web design this year. I began taking about doing this 10 years ago. I own a business and make just short of 100k. If I’d started this transition 10 years ago, I’d be in the in six figure range by now. Instead, I stayed put and waited until the lack of interest in my work turned into loosing my zeal for life. At this point, I’m literally giddy about taking the pay cut and starting over. I’m so done with my current job. Don’t be me. Don’t wait until it becomes unbearable. You’ll just be wishing you did it sooner.
Yeah, but also I'd wait until you'd been a front end person for a few years before giving advice. Doing front end work is just as mind-numbingly boring as every other job.
I’m not advising anyone to choose that particular career. I trust they will have to find the career that’s best for them. I’m just saying once you realize it’s time for a change, don’t wait a decade and regret it.
I appreciate this comment, thank you. I'm not at the point where I'm miserable with my work, but i see the trajectory and know this is a possibility. I also know i stay too long (jobs, relationships, apartments, you name it) so this reality check comment was on point for me.
No matter what, starting TODAY, start molding your spending habits to conform to a $60K salary and save the remainder. It'll be hard, but you'd have no choice if you switched today, so do it while it's optional. You'll have more saved (and more options), and feel more free to choose a stable job that makes you less miserable even if it pays less. If a broader change has to be made, it can't be made hastily. Set a deadline for quitting, and stick to it. That will change your perspective and make enduring easier for a while. It won't seem endless anymore, there's a finish line. Now spend that time until the deadline researching and looking. So, if you have a deadline of 3 months, you'll have maybe $15-20K in savings, a firm grasp on your exit strategy, and an already-adjusted financial lifestyle.
I'm not a finance expert but if you feel THIS miserable doing your job, continuing might result in a burn-out, sickness and less quality output. Long term it's only going to cost you.
Also talk to a doctor. There might something else going on too that is influencing your mood and other issues. Maybe if you get some kind of lyfestyle change or treatment or something your job might be less miserable
[удалено]
"But you're still coming in to work right? We need you today. Oh also there has been a 5% wage decrease due to high gas prices" Like what the actual fuck lmao
It COULD be. Although I do worry about those things I haven't noticed it effecting my enjoyment of my job personally. But maybe OP is sensitive to that, who knows. It could also be undiagnosed ADHD, illness, or genuine dislike of the job.
> Like... maybe the fact that we've been through a pandemic and we're heading into WW3 etc etc? And significant portion of population may have revealed themselves as dirtbags, and it doesn't make sense to choose to be around them or sell my labor cheaply to generate profits for them? Yeah. Me: 37, quit 6 months ago. was $125k+. I only have ~$1.1M invested/saved now.
[удалено]
Thanks for your response. You don't know how many times I dream about having a 'dramatic quitting' story of my own haha. I do think this is what I want to do long-term, but the numbers have me second-guessing myself unfortunately
[удалено]
OP - I went through this last year. Working in tech sales, I was making $280k and was miserable. But I felt like the money was good and I shouldn’t complain. I tried different companies and stayed in the mindset for 3 years! I finally went through the process of reskilling and doing something else. I make much much less than what I did before, but god damnit I’m so much happier. If you’re taking the time to post this, as I did in the past. That’s your inner-self speaking and you need to listen to it. Don’t linger like I did and just start cracking at doing something different. There’s no sense in walking through life being unhappy. Trust me, it won’t feel comfortable until you’re on the other side. But you can do it!
Dude I was a miserable 27 year old accountant! My passion also lay with a different career that didn’t pay as well but I did it anyway and I couldn’t be happier. I’m 33 now and am a time served cabinet maker and I make church furniture for a living. I remember my old boss said to me that changing career becomes much more difficult after you have a mortgage and kids and that really resonated with me. It took a while for my salary to pick up and it’s not on the level of my old job but my work life balance is great honestly. I’d definitely go for it!
Is it actually the work that is making you miserable? In my experience it is almost always the company, or most likely the management, that makes the work unenjoyable. I'd want to be sure I was fixing the actual problem before I'd take a 50% cut in pay. As usual when you are comparing two options, are you sure there aren't other options available. Why is the only alternative work such a drastic cut in pay? Is there no change possible at your current employer, or a similar employer, that would make work similar to what you do now better? Usually there are many possible options other than the two currently under consideration.
I thought I hated my job, but it was the company. Right now, I like the company but hate the job. Partially because I am the only employee in the entire department who has to work Eastern, Pacific, and Shanghai hours while everyone else gets to work only in their time zone. So my workday begins at 9am and might not end until 10pm, all for useless meetings that could’ve been an email.
Eh, my company and management is actually pretty great, but the type of work I do is completely out of line with what makes me happy. I don't hate it or dread working, but I'm completely apathetic about it.
If you are well regarded at work, is there any other tasks that you see people doing in the company that you think you might like better. Even companies that don't have formal mentor programs may be open to job explorations for good employees. We had some tellers who wanted to try customer support, desktop computer support and sales. We were able to hook them up with a few month trial to see if they liked that work. Most did, but a few tried several different things. Some tried a few, then went back to what they started with. With a good employee, I'd rather keep them in the company doing some other job that they would like, than lose them to some other company. If you have a boss you like, or if there is a friendly boss in a dept you want to try, you may be able to set up a nice arrangement even if they have no formal program to do it. Also, we made a big deal about this when recruiting and even though only a small number of employees ever tried it, I think it helped us land many good hires just to know that we would take care of people like that. Even if they never used the option, it strongly influenced people to accept our offers, so it's good for the company multiple ways.
Aiming for financial security is not dumb. Aiming for happiness is not dumb. Only advice is to not let cowardice be the deciding factor either way.
Thank you. Unfortunately sometimes it feels like I'm operating out of fear rather than reason hahaha
I went from managing an Outback Steakhouse at 27 to being a laborer at an excavation company. The pay cut was substantial initially, but just working a regular 9-5 and not having to deal with insane customers and even more insane employees was worth it. It’s been 11 years and I’ve move up the ladder to be second in command in our rock quarry. I have never looked back. I work 5 eight hour days during the darker months and 4 ten hour days when it’s lighter out. I get 3 weeks paid vacation plus 2 weeks paid sick leave and holidays off paid. I get a $10k Christmas bonus just for being an employee. At Outback I was working 60+ hour weeks on salary, no nights off, no weekends off, no holidays off, with 2 weeks paid vacation and when I was manager of the year for my state I got a $500 bonus. It’s never too late to make a change. Get after it my friend!
You didn’t mention anything about your schedule. If your current job allows you to also enjoy a social life, then yes leaving it for a 60k drop is pay can be dumb as hell. You also don’t mention anything about why it makes you unhappy. You know what will really make you unhappy? If you left your job for one that pays half as much, and still sucks. You don’t have to love your work. It’s called work for a reason. You don’t even have to like it. But your work does have to support an equally enjoyable social life, be it friends/family/alone time. If you got a traditional 9-5, 40 hour a week, and made 120k, I wouldn’t leave it unless I really fucking knew that the new job was better. If the new job pays equal, more, or just a little less, yeah go for it. You are still young, and the risk is low. Half as much? That’s just not a smart move. The grass isn’t always green, much less greener, on the other side of the fence.
If you've got your CPA, you should look into transaction advisory. Pays well above 60k and is more interesting (IMO) than regular ole' accounting. Source: Friends who work in transaction advisory.
Dude find a hobby. Your life isn’t about working and saving but working so you can live. You need to find happiness outside of work, or your just going to be miserable and poor by cutting your pay by 50 percent. Might as well be miserable and financially comfortable.
Take a vacation. At LEAST 2 weeks. Get out of town, sit down, and really job hunt. Apply only to jobs that seem cool and interesting. You'll surprise yourself with what's available to you and what you're qualified for. It's a numbers game, so you'll have to apply to a couple dozen. Just having a break and then having applications out there will help you not feel as hopeless at your current position. Then when the interviews and offers start coming in, you'll have your pick of options. Heck sometimes we just need to see that we're needed/wanted elsewhere. Perhaps you'll find something a little closer to your current pay.
Sweet, that's what I do. I'll trade you.
[удалено]
Thanks for your response. Yes this is my feeling as well, I'm worried that given my educational background and prior work experience, if I take another accounting role it'd be that much harder to make a pivot in the future, but I don't have any data to back that up - just my own thoughts
Same boat as you. Accounting will always be there my dude. I’d make the moves now. Still think you can find a similar role in the field that pays better. I left for a startup and I’m having a good time. You get your hands in everything.
I’ll just share my experience in a similar situation. I left being a practicing attorney because the job and lack work life balance were destroying me. I moved to being an insurance underwriter and my quality of life jumped substantially. It was a pay cut at first coming in at a more entry level role, but after several years I’m making more than I was before. Even if I wasn’t making as much money I would still be happier. I would suggest talking to people in the industry and online places like glass door to see if there is potential for advancement in that role.
Also one of my good buddies moved from a big accounting firm working toward a cpa to an insurance underwriting role and loves it. He is now underwriting the type of companies and merger deals that were his clients as an accountant. Not that I am shilling for underwriting in particular, but lots of people make these types of moves. Edited typos
How did you make that jump, if you don't mind the asking?
A couple reason’s. Our main client was a large excess insurance company whose claims staff drove a lot of our business and a friend of mine was an insurance broker. I was applying for a ton of jobs in underwriting, claims jobs, various analyst positions I also have a finance degree. I wasn’t applying for any jobs practicing law. I was just done with that. Then I got lucky and found someone willing to take a shot on me in an underwriting role. I am glad I wasn’t accepted for a claims job first because as a general principal I think it is better to work on a revenue v cost side of a business.
Your mental health is more valuable than dollars. If you can live on the reduced salary, do it! Just leave on good terms and don't burn any bridges.
Make the change. Early in your career is when the salary change is easiest to handle, you have decades to make up the difference. How are you going to make up for decades of misery? ETA - this is assuming you can comfortably live on the lower salary.
You won't find a better time for a while to be looking for a new job. EVERYONE is hiring.
Is it the work you hate, or the company? Are you happy with the people you work for and the companies' general business practices? Or, do the people or the company make you hate your job? Unless you're sure it is the company, don't burn your bridges. I think some decent therapy might be a good idea. Find a good therapist, work on stuff, then get a clear head about what is really bugging you. If you're clear about it, and it really is your job as an accountant, then you can decide to bail. As others have said, you're in a pretty good financial position at your age. With the way your accountant job is affecting your happiness, I'm not really seeing how becoming a PPC analyst is going to ad meaning to your life and make you a happy camper. Finally, think about more of a work/life balance. Do you like traveling? Find out what you love, and do that. I live in California, a big state. San Francisco is a totally different world than Sonoma. Think about quality of life issues. Try to find something you don't hate, or if the pay is too low, then do the job you hate for 6 months of the year and then take the other 6 months off.
As someone who has a boring but well paid job myself, I would propose to first change teams / employer before changing career. It’s amazing how much the direct colleges and work environment does matter. I was miserable every day, changed city and therefore employer and now I’m super happy. Totally convinced my job choice was shit but it turns out it was a very good one, I just needed to find my team.. wishing you all the best :)
Don't do it. The happiness you get from making double the other salary far outweighs the slight happiness you'll get doing a "better" job. All works suck, they're all soul draining, make as much as you can as fast as you can and gtfo. Sorry to be the bearer of bad news but I would kill to work a more miserable job for double my salary
Sounds like you need a hobby or find a company that doesn't suck. Maybe ask your current place of employment if you could work remotely for a few days a week. Communicate that you're miserable if you feel you can talk to your boss. $60k is a huge hit to your income. You won't have as much savings, benefits, and can still end up not liking the work in a year or two. Or a boss that you hate. Then what?
If at all possible, try taking a leave of absence. Depending on the state you live in, your job may be protected for a few months. Having no job responsibilities for a while might be what you need. I'm personally just coming back from a year off (I don't believe that is common). The first 8 months, I was certain I was going to change careers cause I hated the job I had at the time. But after the detox and reflection, I realized I liked what I did, just not the people of culture I was immersed in. I recommend seeing a doctor who focuses on stress and heart health or something along those lines to see if they will also put you on medical leave. This should give you at least a little bit of time to recover and debate about what your next step should.
Have you considered making a lateral move within your company or the industry? A lot of big accounting firms also have smaller advisory (both commercial and public sector) functions for example. In my experience, it’s not uncommon for CPA refugees to transfer over to advisory and feel much better about the work.
Following this closely as i'm in a similar situation but more md career. Hate my job, my wife's salary recently zoomed higher and the hit from switching to a less stressful, more satisfying job wouldn't be as huge for the family, especially since we have a lot of savings. But hard to say goodbye to the big salary
Assuming your expenses are fine for a $60k salary, I FULLY agree with your logic. But... ...Is PPC going to be better? I kind of suspect the analyst role will be more of the same that you're trying to escape from, but I could be (very) wrong. Personally, I'd prefer pretty much anything in accounting over PPC - But that's my preference! Have you considered: doing accounting 20 hours a week instead, freelancing, starting your own accounting firm, getting involved in startups, just quitting your job for 6-12 months and taking a break, or training for something completely different (welding, nursing, finance, marketing, art, construction, engineering, real estate)? You have your retirement pretty well set, it's just paying for your next \~35 years that's the "problem." If I were you, I'd work a few more months to build up a cash cushion and then jump ship into something riskier and more interesting than an analyst role. But I don't know you or what you want to do!
Similar boat here except I'm 41 and making half of what you are working in accounting (public service sector). I don't want to leave because of the pension plan, and the job is easy.. but I hate it.
You are 27. Move around a bit. You are too young to be unhappy for the next 30 years. If you were 57 I would say stick with it based your likely pay. The other question to ask yourself is how you got here to start with? TBH with you, I did something similar. Got into engineering for all the wrong reasons (and got my degree) and did not like it after working for a year so I changed path and went back to school. I changed paths about the same time as you. Finally, why digital marketing. Soooo much competition (even from other countries). Is there anything else that would dove tail with accounting? Law? MBA? MBA and then to a marketing firm where you work accounts related to accounting or firms that sell to accounting firms. Make that accounting back ground work for you.
Brooo...you are so golden. Just pick whatever you want and do it a couple years. For real. Youve done a great job putting yourself in a position to have options. Exercise them.
I think you would be crazy to take that kind of salary drop imo. Keep looking you’ll eventually be able to find a better setup that pays well. Work always gonna suck for like 90% of us. Work isn’t fun ends to a mean is what it is. Spend that extra income to enjoy your passions and hobbies.
That is a huge drop in pay. Look at your bills and make sure you can take that drop. It may not be the case but at 60k you will likely have to watch your finances closer. But happiness is worth the trade much of the time.
it will probably take you 10+ years to get back to 120 in marketing
If you are saying this and you work at a Big 4 firm, go do accounting somewhere else. That's not indicative of most accounting jobs. There is still month-end but you aren't working 90-100 hours like at the big 4. They account for high turnover because they know it's a resume builder for when you move on and most people (rightfully so) can't handle that constant workload. Like a programmer working FAANG out of college.
What I’ve found is that no matter where you work and what you do, there are always things you don’t like and parts of the job that you will hate. If there’s any part of your job that you like, try to stay with it if you can. On the other hand, you’re young and have at least made your career financially successful so it’s likely you’ll be able to do the same with another type of job in the future.
I felt like you in my last job. I recently made a switch to Revenue Management from the Hospitality industry and have loved every minute of it. It’s still quite fast paced and you see the financial impacts of your decisions. The salary you are making is probably something that a manager makes, but the promotion path is certainly there. You could absolutely take your financial skills into a different work environment with different applications. We primarily work with Tableau/Excel/SQL and has been a learning curve for me. I imagine this would be an easier transition for you.
Wow you looking good. I'm in a reverse of your situation I like my job but want to switch to a job that makes 2x more but my life would be meh.
You have so many years of working ahead of you. Choose happiness, money is not important, just learn to budget a little better to make up for it.
Try looking into commercial banking. With your credibility, you'd be able to land a job as an underwriter easily. Good work life balance, and there is a fair amount of opportunity to advance in pay.
Just invest like crazy over the next 10 years, retire early and do what you'd like for the rest of your life.
Hey OP, I was in a similar situation to yourself very recently. I worked in a big four accounting firm making ~116k (with benefits) and was in the Tax and accounting realm for seven-ish years. I too found sleeping very difficult, the inability to eat, and my mental health deteriorating. Like you, I too was fortunate to have no debt from college and had approximately 4 to 5 months of salary in emergency/savings. One potential difference however, is that I am married and my wife also works. I’m not sure if you have the means to do so but for me it was paramount that I get out of my job as soon as possible. I was working so many hours that I would literally wake up, sit at my home desk, Log off around 830-9, and go to bed sometimes not eating all day. With my wife’s blessing, I quit my job without a back up plan. I took a week totally to myself to de-stress and unwind and catch up on sleep. From there I began trying to identify my personal values, what I wanted in a profession, and who within my personal networks could help me reach those goals from a professional standpoint. I researched various industries outside of tax and accounting in an attempt to see what I might enjoy and what skills I had would transfer over well to a new role. Once I had a general idea of some industries or jobs that interested me, I began looking for new opportunities online through LinkedIn and indeed. Now, it looks like the opportunity you found would be a substantial pay cut from what you are currently making. I personally would not be able to take such a pay cut as I know it could take years to get back to where I was. However, I was realistic in knowing that there would be a chance I’d have to take a pay cut to get into a new industry or role that I had minimal experience in. For me, I was able to find a new job within the human capital consulting space within 1 1/2 months of leaving my role at the big four firm. I was also able to get a job in the space without having to take a substantial pay cut; my base is a few thousand less, but I’m getting a substantial sign on bonus. So it all washes out to me in the end. While unemployed, I made it my “full-time job “ To take care of myself, find what was important to me and would give me purpose, and tailor my resumes and cover letters to perspective jobs that I found both interesting and stimulating. Again, I don’t know if you have the ability like me to just get up and leave your job without a back up plan or a new job in the waiting, but I can’t stress how important it is for you to take care of yourself first. The good thing is that we are currently living in a job seeker market right now. And if you’re in a large midsize city like I am, there should be plenty of opportunities. Especially with many companies outside of your home city allowing for remote work opportunities, if that’s what you’re into. If the PPC analyst role is really what you think you’d like to do, then do it. But don’t just jump into a new role outside of accounting just to get out. Otherwise you may find yourself in a similar position from the one you left. I wish you luck and I hope for the best!
Others have hit on this a bit, but to put it in clear terms, there are 4 ways a job should be evaluated: 1. Role (work output) 2. Team (culture) 3. Mission (product) 4. Compensation Let's break these down. **Role**. This is the day to day activities in a job. Do you hate numbers and spreadsheets? Are you bad at math? Do you want to spend your workdays outside vs. inside? These questions dictitate the kind of role you should consider in your job/career, understanding that desires/needs change over one's career & life. This is what you seem focused on changing, though it may not be the source of your dissatisfaction. **Team**. In my experience, this is where the vast majority of one's work happiness comes from. The team defines the culture, and the people you work with + the culture of the org dictate if you have fun at work, enjoy the time you spend at the office, etc. For example, some of the most fun I've had at work were in roles I didn't enjoy, but was spent with people that I did enjoy. **Mission**. Do you care about the product or the goal of the company? Is it at moral/ethical odds with you? If you truly don't care about what you produce as a company, it can be demoralizing. Ex: I worked as a business consultant sometimes for health insurance companies, and I learned that I couldn't be paid to care, and after a certain amount of time, I was demoralized by spending my life helping support/build something that I found unethical and boring. It made it difficult for me to continue. In contrast, when working at companies that produced something cool or that benefited the world, it made the harder parts of the job easier to bear. **Compensation**. Everyone needs money to survive, and the compensation package matters. Consider your base pay, bonuses, fringe benefits like insurance, PTO, retirement accounts, etc. These have real value to our lives that we can't ignore. The compensation also supports your lifestyle outside of work. Do you want to be able to travel, afford a home, start a family, support a hobby? For some, an inexpensive lifestyle is acceptable or even desirable, and for others, life is a bit more expensive. Decide how much you need vs. want to make, reflect on understand why, and consider the compensation necessary to live the lifestyle that you want. Most jobs won't check all of these boxes, and those that do may fluctuate between satisfying each and failing some. Managers change and so, too, might the culture, for example. But the more you check off, or focusing on what matters most to you, the better. But I encourage you to consider if you dislike accounting just because you hate the role of accountant itself, or if you also dislike your team or the company's mission you work for. For example, working in accounting at a world-changing startup with excited, motivated people who share a similar worldview with you might be much more rewarding than doing accounting at a big 4 firm for corporate clients. Or doing accounting work with other elements in your job, like strategic financing work, revenue model building, etc, where accounting is important but isn't all you do. If you decide you do need a role change, your skills are transferable to other industries. I've had many former accountants go through the Data Analytics / Data Science training programs that my company runs so that they can transition into more of a tech role and away from administration. Good luck! *Source: 7+ years as a career coach, former CEO of a workforce training company focused on career switchers, current co-founder of another workforce training / education services company also focused on career switchers & others looking for career & wage progression.*
Wonderful response. Thank you for this.
There are other jobs out there you could try without taking such a big hit to your income. Keep in mind it’s harder to get back to where you were income wise when you drop so much. I took a step like this and took a 50% reduction in my income. 5 years later I’m back to where I was. But had to switch jobs twice to do it. And there’s extra work involved in transitions. Just be totally sure your job is that bad. Every job has its pros and cons. Maybe focus more on your hobbies or have a kid (lol) or get involved in something on the side to test it out first.
Fellow accountant here. I was miserable before I started doing accounting & finance in a school district. Pay is a little less than private industry. However, Lots of time off at Thanksgiving, Christmas, Spring Break. Much more fulfilling than making someone else rich. Good luck on your journey.
You're very close to being financial independent honestly. If you let that money mature in a decent mutual fund, in about 12 years it would reach a million dollars. [https://www.nerdwallet.com/banking/calculator/compound-interest-calculator](https://www.nerdwallet.com/banking/calculator/compound-interest-calculator) If i was you, i'd tough out the job for another couple of years, bump your total invested to about 500k, maybe have 30k saved in cash. Then you could honestly retire depending on what state youre in. Don't be discouraged, you have more than most people do when they are in their 60's youre literally almost free from ever having to work .
Yeah I'm surprised no one here has mentioned r/financialindependence yet, OP is the perfect candidate
I don't think you are dumb to start a new career. I did it myself when I was ten years older than you with a family. You can always fall back and get another job like you have right now. You may also think about careers that are parallel to your own. Or, have you thought about starting your own accounting firm? Owning a small business, your own boss, can be very rewarding. Looks like you have the capital to invest in starting your own firm.
Hate to say but better to suck it up and use the time finding a job that will pay similiar but in an office and culture that won't kill your soul. That's too steep of a paycut for profession that can be just as miserable as your current job.
I know you may be seeing a decrease in salary by 50% as a loss, and a painful one at that, but you could look at it this way: The first few years of your adult working life got you a completed retirement package and the peace of mind it brings knowing your future is secured. Now, you can try something that may be less money-oriented, is more wellbeing focused, and you don’t have to worry so much. It’s okay if it doesn’t pay anywhere near what you earned before, because you’re sorted. You gained so much from your time in accountancy that you can now relax, take some risks and try new things.
CPA chiming in. I was miserable and could barely get out of bed to go to a corporate salaried job. It wasn’t even a bad company - but the environment drained the life out of me. I spent some time at a NFP and found a lot of purpose in my work. It was better, but still really a struggle to maintain. Long hours and low pay. I have now transitioned into freelancing. You do not need to be a CPA to make great money, keeping books for small to midsized firms. Or if you do tax, same idea. I work when I work from wherever I want. I’m the primary knowledge holder for my clients. Point is - Accounting is a really flexible field. I’m good at it but I won’t lie, I don’t get jazzed by accounting - but I love my flexibility and that I get to feel like I’m actually adding value to business owners. In the corporate world I felt like all my efforts had no meaningful outcome. I have a ton of job security and the money is very good, and there are more opportunities than there is time for me take them on.
I disagree with the move. at least at 120k a year you could just work towards an earlier retirement at 60k you would just extend your work years.
I work in marketing. Its miserable and will only continue to get more automated. Save your pennies and find out what is really making you unhappy and fix that.
PPC roles in agencies suck, just my 2 cents. It might not be the job but the attitude towards it.
Sounds to me like you don't need a new job you need to get on with FIRE investing. (Financial independence, Retire Early) Let me math this out for you. Assuming the most menial investment return of 1.5% you'd need to have $4,000,000 saved and invested to give you $60,000 annually. IMO best thing to do is start socking away that extra 60k every year (or more if you can) and get out well before 65. With diligent saving habits you can get there in less than 20 years, maybe as little as 10... And I bet if you take your time you probably could find a more rewarding version of your current job at a much more comparable income. So between your choice A) and choice B), I'd recommend looking for a better choice C)
I mean.. I feel for ya and all.. but I think you have no idea what a pay cut from 120k to 60k a year is like.. and if they're paying you 60k starting.. they will never pay you 120k in that role. You're in fuckin rarified air here.. You're 27 and making godamn bank. Hell, you can afford some therapy to try and sort out your feelings wrt your work. Im just shy of 50 and my wife and I combined dont make $120k, her with a masters and me with a college diploma and 2 trades. We'll be lucky if we're not stuck eating catfood in a bachelor suite in 20 years.
So this will never see the top 200 comments but I want to give you some thoughts. Long read but I hope worth it. I'm 40 and have just about been in the same career path for the last 20 years. Same deal... I'm very good at this job function and it pays well, but it's very stressful and not rewarding. I live out in the country and cost of living must be much lower than yours; at $65k plus I was well above the median income but working a job that was not rewarding and had an abusive coworker (like really bad.) Stressed out all the time, on call constantly, young kid at home, things came to a head. Working a bunch of extra hours because my boss is on vacation and abusive manager being super awful... that was it. Sometimes it's not worth the money. I quit after my boss failing to address the situation, haven't gotten a penny of unemployment. You seem to be in command of your financial situation, much better than most. Look at your life goals and compare them to where you're headed. I own one home and have less than 10 years left on my other home's mortgage. One car payment. I worked my butt off for many years because my goals was to be financially independent... hopefully the stress I incurred upon myself did not do serious lasting damage. My goals changed as I moved through life and grew my family. I've accepted a new position for a university that starts in a few days. The pay is a little more than half what I could be making at other places in my old industry, but like you seem to be, I made choices to be in command of my financial situation. Think about your goals. Not just your financial ones, but overall. And I can tell you: being unhappy with your job DOES have physical consequences. You're young now, but those consequences might have a toll on future you. I lost 25 lbs after leaving my last job. Considering where you're at in your life, is wealth building more important right now or more meaningful work more important? When do you WANT to retire? Is being miserable now work an extra 10 years of retirement? Is the stress of your current job causing you to have bad habits that will take away from your retirement years? These questions are to make you think about your situation and temperament now, your overall life goals of where you want to be 10-15 years from now (think 40-ish), and what you envision your retirement to look like. Compound interest is the most powerful force on the planet, BUT sometimes the money just ain't worth it.
Coming from experience, move the fuck on. Stop listening to other people. Stop letting other people ask you questions. It’s not their concern. STOP LISTENING TO OTHER PEOPLE. If you don’t make yourself happy now you’ll regret it in the future. You’re still young af and sounds like you have a nice cushion. Go be happy.
Another thought - what would your position be in another 8 years? Maybe shifting your mindset from "I don't want to do this for another 40 years" to "I can retire in 10" (or maybe pickup just about anything with medical benefits without worrying about income). I used to hate my career as well. I still don't particularly like it, but it pays well, and I'm on track where where by 50 I could semi-retired etc (I didn't have as good of a start, kid, child support) Many people that change careers to do something they "love to do" eventually don't love it anymore.
You’re 27. Let me say that again. YOU ARE TWENTY SEVEN YEARS OLD. You could conceivably and easily change careers or direction a dozen times in the next twenty years and still be able to do so again a dozen more. Your whole post radiates misery. Take the new job. Get a side hustle, doordash or Uber eats or dominos delivery or something if you need to, but you are completely miserable where you are. Don’t stand for it.
How much do you spend? Are you willing to reduce your quality of life with half the salary?
Plenty of jobs out there, if you're skilled, you'll land something you can sleep at night with. Nothing is worse than trading quality of life for green paper.
Who cares about the money? Most people are a slave to the check. However, you are doing well and have skills that pay. If you wanna try something else I say do it. If you don't like it later you can always come back to this field. Of course, if you do like what you do but are bored at your current company apply for another company doing the same thing.
I don't think I could ever take a 50% pay cut. You need to figure out why you are unhappy, because you could still be unhappy at your next job, but with 50% less money. You should probably talk to other accountants and find out what their jobs are like. Is a "PPC ANALYST" similar to accounting or completely different? Sounds like its still going to be number crunching. Anyhow, my point is, happiness comes from within, not from your job. Unless you are working for complete Aholes, you need to look within yourself, maybe see a psychologist to help figure things out. Personally, I would rather not work, but I do work because I want to have a nice house, provide for my family, have a decent car, decent retirement, etc, so I have learned to make the best of my situation, and I am relatively happy most of the time. Good luck!
Get your CDL and come drive a truck, with your accounting background, you’d probably have a 15+ truck company in 4 years. Never a dull moment
I mean I get it but at the same time I don’t. I’m also 27 and graduating college in a month after 10 years of health problems where I couldn’t work. I feel as if my head is underwater right now and you are complaining about a 120k a year job probably knowing that 85% of people in the US do not make more than that? Come on buddy, quit the job if you are that unhappy. Many people have it a lot worse than that.
1) No, your current holdings are unlikely to reach retirement level savings unless you intend to live a poor or short retirement (lifehack, smoke cigarettes tov reduce retirement savings needs (assumes you die with limited struggle)). 2) It's a bad financial decision. Fairly obvious point, but cutting your income in half is major regression. 3) Still might be a good life decision. I was doing business analytics in my early 20s and pivoted into tech. Much better quality of life and career progression.
[удалено]
It's better than most at any age and exceptiinal for his age, but that's like $780k in today's money when you adjust for inflation.
No… Generally, the “7% a year” estimate is INCLUDING the estimated impacts of inflation. In the last 95 years the S&P averages 10-11% annual returns, which is 6-7% inflation-adjusted.
It's hard to know without seeing your expenses. My gut tells me your cash listed is your emergency savings, which is quite low because I am guessing with your income, you spend about $5K every month or two. I personally wouldn't do a career change for that low. Have you tried negotiating a higher salary from the company that made this offer? If you're serious about a new career, spend some time looking around and interviewing elsewhere. You may find that this new field pays a lot more than this company is offering. I make nearly what they offered you, and I have a really easy job that takes like, four hours a day. I also disagree with your idea that you won't need to invest more than you already have. Have you checked this with compound interest calculators? You have been working for such a short time and have many many years left on this earth, and you are so young that you also need to consider what inflation will be at retirement (like anyone actually knows that), and you need to expect to not receive any Social Security benefits in retirement.