Comments on Feminist Finance: More On The Pay Cut: Planning For A Long-Term Job ...

I've been mulling this post around in my head for ...

2008-06-17T05:07:00.000-05:00

I've been mulling this post around in my head for a while. I'm not sure how to express this in an articulate fashion, but for many students at many law schools, law school is a terrible financial decision. I don't know you from Eve and I don't know your academic and professional credentials. You might be on track for a position at Yale for all I know.

That said, what are your feelings about (the possibility of) teaching at a law school that turns out a lot of lawyers with high debt and grim job prospects?

If you arent sold one way or the other, I would st...

2008-06-10T09:41:00.000-05:00

If you arent sold one way or the other, I would start by speaking to people who have already made the change. They will probably have the best advice for you reguarding issues like salary, hours, work load, etc.

I'm leaving a very comfortable position to begin m...

2008-06-09T21:39:00.000-05:00

I'm leaving a very comfortable position to begin my doctoral program in one month. It's a 5 figure pay cut.

I look at the long-term, though. I will be doing what I love. I will be attaining a goal I set for myself many years ago. I will be creating a more stable life for myself.

I think that we have to consider more than money (which is what you are doing). Yes, money is (unfortunately) important. But it's not everything.

I'm glad to see a new post!As a soon-to-be law stu...

2008-06-09T19:41:00.000-05:00

I'm glad to see a new post!
As a soon-to-be law student and financially aware feminist, I love your blog.
I think making the switch now makes a lot of sense--a rich life is not just about the numbers, and you can make the numbers work. Going on the dreaded written budget might help make the pay cut easier to take though. :)

From your article..."PF advice tends to assume tha...

2008-06-09T18:46:00.000-05:00

From your article..."PF advice tends to assume that unless she screws it up or the economy goes to hell, a person's income will trend upward over her working life. "

Another thing for women to consider is the emotional impact of working - and the question of which is more important - Time or Money?

For myself (single)- now 54 - I took a major pay cut 1.5 years ago in order to 'move back home' - a rural area with lower paying jobs -in order to spend more time with my children and my grandchildren, especially since my daughter, a single Mom is going back to college now that her two children are both in school. She needed the help with childcare, and I wanted the time to spend with my grandchildren - all 8 of them.

My solution was to buy a small fixer upper house across the street from them, and do a lot of the work on it myself, take a job that only paid 3/4's of what my previous job paid, and then drop my income even lower by voluntarily switching to 4-8 hr days instead of 5 days.

I could "afford" to do this as I was debt free and paid cash for the house and pay-as-I-go on the repairs )which is why it is still not finished) :)

I find the much lower income is more than offset by the Quality time I get to spend with my family and especially my grandchildren nearby. As an added bonus, wanting to eat well, I have become a great veggie gardener, which was a surprise to me :) For me, this major lifestyle change has been more than worth it :)