3k+ pay cut for a move from banking to running clothing

FYI, I only graduated college in 2017 so am relatively new to the field, hence the low salary

I'm potentially in a similar position - IT to LRS.

If it can work out for me financially I'm doing it for 3 reasons; working around something I enjoy every day and less corporate politics, in 40 years time I'll feel more fulfilled compared to continuing to work at a desk that I'll eventually be downsized out of, I'm doing a degree part time + can give a few full effort years to running. I know when I'm 50 I'd regret not doing it.

I say go for it

MooseMan wrote:

I'm potentially in a similar position - IT to LRS.

If it can work out for me financially I'm doing it for 3 reasons; working around something I enjoy every day and less corporate politics, in 40 years time I'll feel more fulfilled compared to continuing to work at a desk that I'll eventually be downsized out of, I'm doing a degree part time + can give a few full effort years to running. I know when I'm 50 I'd regret not doing it.

I say go for it

Thanks - and yes I should probably think about the far future, that's what my girlfriend is encouraging too. I just worry about cutting myself out of potentially higher paying jobs. On the one hand I don't care about money and at my current salary of $47k I've been saving about $1.5k a month with my lifestyle, but I could be getting a big rise in the bank so it's tricky. Banking pays high so you won't leave...

YOLO, bro!

what area of the country do you live in? in banking you have the potential to double your salary pretty easily.

not as easy working for a LRS, Retailer, Sporting Goods store, etc. to double your salary there, you essentially need to be a Regional Manager or more.

If you're single and not planning to get involved with women and raise a family, then it's a no-brainer.

I too work in banking and I don't know of any LRS that pays nearly as well, provides 401k match and excellent benefits.

If your bank offers a match, you would be crazy to shrug that off to go running on lunch breaks.

what would you do wrote:

Thing is, I am bored where I am and at this new place I’d be around active people and get a lot of freebies in terms of clothes. I’m only 2 years into my career and could still afford a good place ($44k ish, $30k after tax where rent for me is roughly $1,000 a month). Would I be crazy to give up a better salary for something I’m interested in?

Yes. Do what interests you. $4k diff in salary is not a deal breaker. You can go work a few evenings a month doing something else and make that up easily if you need the money. You're young, don't worry too much about the money yet if you want to do something else.

I'd encourage you to stick with the bank. Remember, any job at all is going to have times that are "boring" and you don't want to go to work. I'd imagine your bank job will become much busier as you climb the ladder and are given more responsibility. Also, great job on saving the $1500/month. You're already a step ahead of your contemporaries.

Not single but atm that's saving money as we share it. We may get married in the future but have about 150k saved collectively. My partner is also in banking

You totally should do it.

London, UK. I translated my post for the american-heavy audience on LR. Yeah that is a concern admittedly - I'll be going up quite a lot. It's actually the head office I'd be working in rather than a store

The rational part of my brain is telling me this...

(sorry, forgot to quote on my other replies above)

what would you do wrote:

Not single but atm that's saving money as we share it. We may get married in the future but have about 150k saved collectively. My partner is also in banking

Sorry - more like $125k (thought the GBP:USD exchange was a lot more favourable) - £100,000. Suitable property in London is at least £500,000.

what would you do wrote:

Not single but atm that's saving money as we share it. We may get married in the future but have about 150k saved collectively. My partner is also in banking

How the F did you get that much money?

At 55, I am resigning from a high paying job (100K+) to move to Germany and take up a job with a German startup for a significant cut in pay. My current job is boring me to tears and I cannot contribute like I will be able to in this new job. I will have more control over my job and also help others. Giving up the $$ is worth it to me (and no, I am not well off).

My recommendation: Never stay in a job for money. If you are bored, it likely won't get better, so go with your heart and the money will come eventually.

I know that all sounds a bit sappy, but I have found it to be true throughout my working life.

As someone in mid-career who has kids and all of the other mid-life responsibilities, I say take a good, long look at your earning potential and lifestyle priorities.

You say a bank, and usually banks have pretty darn good hours. Better than any retail-based company (even running). Just because you're working for a running-related company doesn't mean the lifestyle is conducive to running.

That being said, the company may prioritize your running lifestyle (and just general well being) and that can be priceless.

I have been super focused in my career and have been successful. I have worked my butt off. I still wish I could trade it all for a low-stress job where I could go run whenever I wanted and enjoy the day-to-day... but here's the deal:

It doesn't matter if your selling track spikes or mutual funds. You gotta make a dollar for the man and you have to decide whether this running company or the bank is going to make your life easier.

FWIW, the buddies that I have who are bankers lead the most carefree lives out of anyone I know.

If this is something you want to do, now is the time to do it.

I work for an athletic brand ... wicked fun, would never want to do anything else.

Def would go for it.

60% is what me and my partner saved. The rest is a nest egg from my parents intended for a house deposit (yes, I'm incredibly lucky and will be taking them on holiday later this year)