How much pay cut should i take?
 

I am working in analytics field for a bank. My current working environment is very stressful with unrealistic timeline and fair bit of admin work outside analytics. I got to work on average 3 hours OT daily.

I am thinking to find a better work-life balance job and am prepared to take a pay cut as i cannot maintain this in the long run. I am wondering how much pay should i ask for when i look for my next job so that i will not short change myself too much and yet not to be seen as asking for the sky?

Can any kind soul advise me on this?


Below are some info about me:

Age: 39
Basic Salary: 9900 per month
Variable Bonus: 4.5 month on average
Experience: 14 Years
Martial Status: Single

i just replied to you in the other thread. I am 37.
i am earning $6400 per month, with 5 to 5.5 month bonus.

What was your age when you earned $6400 or so?

35.....u got high bonus!

i would advise u to hang on to your job for as long as possible.

reasons being:

-ur close to 40, the age where most PMETs would find it difficult to have job stability or face the axe

-after getting axed, most of them drive grab or do some skill-less sh1t that doesnt add anything to their resume. heck, i'll even say most of them have trouble finding full-time jobs even after asking for 50% lower than their last drawn salary

-your mid-30s to mid-40s is the most valuable time of your working career, because it's the time where u earn peak salary

-EVEN if u found a job after resigning from your current job, is there any guarantee that it won't be as stressful as your current job?

-your salary is very commendable. u could just build a FIRE (financially independent retire early) portfolio if u know what that is

all the pte sector coys i've been to, i've not seen a coy that has more than 1 to 2 employees who are 50yo or older. that shows u how prevalent ageism and age discrimination is when it comes to finding a job in SG.

Join civil service or stat boards if you want to relax, but pay might not be as attractive.

Private sector is for competitive type.

pls choose wisely also if you decide to join CS or stat board, cos not all are relax.. some post might be worse then ur current job.. choose wisely...

Consider Govtech, they might match what you are getting. People I know who moved from IBM, SAP, didn't get paycut.

TBH I don't think you should be looking for a pay cut.

If anything you should look for a more senior role with higher pay but more management work and less ground work. As others have said, you will be 40s soon so why not look into more senior positions?

I agree. I once took a significant paycut and joined a cs/stat board, hoping to escape the long hours of OT in my previous job despite the new work not being of my interest. I ended up worst than before, and I became extremely unhappy. I suggest you have a chat with your current boss with regards to your excessive long work hours. I believe with the amount of experience you have with them, they are also unwilling to lose you. Hopefully you can work something out.

Was wondering about your colleagues/team members
Are you in a team? Understand that you are single

Are you helping to cover those with families?

if there is a chance to leave, cannot do this in long run so it is matter of if there is a need to take some pay cut, i may consider.

What job do they do at Govtech when they moved over?

i am the same poster from #4. the thing is most banks have sh1tty work-life-balance.

u need to figure out what's the lowest salary u are willing to accept and if your current skillset and soft skills can be transferred and applicable to your new employer.

If you are not 40 yet, and single, sounds like you still have some good years and can take some risks to seek new jobs.

Don't let fear cause you to bury your head in something you dread.. you've still got so many years ahead.

my friends working in CPF board is getting a wonderful pay and bonuses. and the hours are wonderful as there's not that heavy a job load.

why not seek out a few head hunters to match you and let you know your market value?

what is their job role?

It is a myth that civil service is a relaxing job. It is not. Just because you hate the gov does not make it so. During this Covid period, everybody is overworked. Tight deadlines, little prep time, complaint-prone public, a zero-tolerance unforgiving work culture, and a grading system that pits everybody against one another. It is a high-stress job. The only plus point it has is that they don't fire ppl in their 50s. There is job security for you to work till 62 or 67.

If the OP's goal is to relax, the ugly truth is that you have to retire. Everywhere is the same.
Whether you become your own boss or an employee, the stress is there.