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Career break means pay cut??

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  #1 (permalink)  
Old 16-10-2015, 03:57 PM
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Default Career break means pay cut??

Need to seek some advice here.

I took a career break since June this year as it's my child's PSLE this year.

In my mid 40s, has been in financial services industry (Sales & relationship management) for about 18 years. Last drawn pay was around $11K inclusive of bonus.

Now looking out for opportunities but found not many out there. Got a lecturing offer but involves drastic pay cut and also needs 3 months' notice period. They keep on harping on the pay is on 16-months structure etc etc but the monthly pay is really pathetic.

With year end & bonus season coming not many people will leave their job. I am worried that if I do not take up this lecturing offer I may have to go jobless for another few months. But I understand that lecturing job is not considered as industry experience and I may not be able to go back to industry anymore.

Any advice for me? Thanks a lot!!

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Old 16-10-2015, 05:19 PM
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Originally Posted by lorna44 View Post
Need to seek some advice here.

I took a career break since June this year as it's my child's PSLE this year.

In my early 40s, has been in financial services industry (Sales & relationship management) for about 18 years. Last drawn pay was around $11K inclusive of bonus.

Now looking out for opportunities but found not many out there. Got a lecturing offer but involves drastic pay cut and also needs 3 months' notice period. They keep on harping on the pay is on 16-months structure etc etc but the monthly pay is really pathetic.

With year end & bonus season coming not many people will leave their job. I am worried that if I do not take up this lecturing offer I may have to go jobless for another few months. But I understand that lecturing job is not considered as industry experience and I may not be able to go back to industry anymore.

Any advice for me? Thanks a lot!!
A bit too late for advice. If you posted this 1 year ago, I would have told you to keep your job. Quitting your job for your child's PSLE... ridiculous. Next time go university, you're going to retire early so you can help your child study for 4 years?

All the best in finding another job....

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Old 16-10-2015, 06:15 PM
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Quote:
Originally Posted by lorna44 View Post
Need to seek some advice here.

I took a career break since June this year as it's my child's PSLE this year.

In my early 40s, has been in financial services industry (Sales & relationship management) for about 18 years. Last drawn pay was around $11K inclusive of bonus.

Now looking out for opportunities but found not many out there. Got a lecturing offer but involves drastic pay cut and also needs 3 months' notice period. They keep on harping on the pay is on 16-months structure etc etc but the monthly pay is really pathetic.

With year end & bonus season coming not many people will leave their job. I am worried that if I do not take up this lecturing offer I may have to go jobless for another few months. But I understand that lecturing job is not considered as industry experience and I may not be able to go back to industry anymore.

Any advice for me? Thanks a lot!!
Few things you need to understand:

1) You mention 11k is including bonus meaning your total annual package is ~130k, so I am guessing you are around AVP level after 18 years in banking. This means your career trajectory in banking is average at best by industrial standards.

Why does it matter? Because this means you do not have bargaining power in terms of both relational network, skillsets or leadership potential. For an industry where thousands of bright youngsters flood in every year to fight each other to advance, this is a very bad bargaining position to look for another banking job with the same pay after quitting.

A lot of youngsters especially girls without NS can reach AVP level in banking by late 20s or early 30s, why should a bank consider someone old and unemployed like you?

2) I'm not sure what you were thinking comparing a lecturer to a banking sales job. 16 month package is decent and AFAIK most lecturers are paid ok. If that is "harping pathetic" to you then please kindly get lost as our students can make do without teachers with this sort of money conquers all mentality.

If your mentality is cannot find another banking job so go for teaching jobs expecting them to match your salary in banking, then I suggest you wake up your idea and start reassessing your priorities.

I know this message is harsh for you to accept, but that's reality. You were actually already in a very precarious situation before you quit, you should have considered the consequences carefully before making the leap.

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Old 16-10-2015, 09:02 PM
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y did u even applied for a lecturer job in the first place? and why on earth were u expecting the pay for a lecturer to be comparable to a banking sales job?
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Old 16-10-2015, 09:30 PM
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Quote:
Originally Posted by lorna44 View Post
Need to seek some advice here.

I took a career break since June this year as it's my child's PSLE this year.

In my early 40s, has been in financial services industry (Sales & relationship management) for about 18 years. Last drawn pay was around $11K inclusive of bonus.

Now looking out for opportunities but found not many out there. Got a lecturing offer but involves drastic pay cut and also needs 3 months' notice period. They keep on harping on the pay is on 16-months structure etc etc but the monthly pay is really pathetic.

With year end & bonus season coming not many people will leave their job. I am worried that if I do not take up this lecturing offer I may have to go jobless for another few months. But I understand that lecturing job is not considered as industry experience and I may not be able to go back to industry anymore.

Any advice for me? Thanks a lot!!
Sales isn't exactly a sought after skill... any freshie could do it for a fraction of your salary.

Should be quite easy to be an insurance agent or housing agent though.
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Old 17-10-2015, 10:51 AM
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Either a Lion Mom or a irrational person.

Lol

Oh wait, same thing
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Old 19-10-2015, 05:29 AM
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y did u even applied for a lecturer job in the first place? and why on earth were u expecting the pay for a lecturer to be comparable to a banking sales job?
financial services people always get a shock when they enter the real world.
they always complain "no jobs" but the reality is just "no jobs which pay them as well".


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