High Salary, No Growth Potential

[Anonymous]

Yup, I’m breadwinner. My spouse is in unstable field (startups) who has gone through layoffs. We have fully funded college accounts for 2kids for private college, 400k mortgage at 3.5 percent, and decent but not amazing retirement savings. I’m mid 40s, have had long stints at every job, and excellent academic credentials and honors (think like Rhodes type category of education and achievements). Grew up very middle class (crappy public school where most of clsss doesn’t move on to a 4 year college) until I left for college)

[Anonymous]

Just realize that from what you’ve said, you’ll probably have to take a pay cut and/or go hybrid or in person to get what you want.

[Anonymous]

Anonymous wrote:Yup, I’m breadwinner. My spouse is in unstable field (startups) who has gone through layoffs. We have fully funded college accounts for 2kids for private college, 400k mortgage at 3.5 percent, and decent but not amazing retirement savings. I’m mid 40s, have had long stints at every job, and excellent academic credentials and honors (think like Rhodes type category of education and achievements). Grew up very middle class (crappy public school where most of clsss doesn’t move on to a 4 year college) until I left for college)

Sounds like you have plenty of reserve to take a big hit and a big risk to your income. Your job situation is demoralizing. I can sympathize as a government employee at the top of the scale with no promotion potential, and like you I feel stuck and underutilized. Can you imagine spending the rest of your career like this? Life is too short to spend time working at something that doesn’t fulfill you in all the right ways.

[Anonymous]

Anonymous wrote:^ Given that your salary is out of the norm at your level, your risk of layoff is high. Are you the breadwinner?

This is the actual issue. If there is a layoff, the highest paid often are the targets, even if they really do perform better than others.

[Anonymous]

100% don’t let the golden cage stifle your potential. I don’t think you will regret trying to find something that truly makes you happy.

Anonymous wrote:

Anonymous wrote:Yup, I’m breadwinner. My spouse is in unstable field (startups) who has gone through layoffs. We have fully funded college accounts for 2kids for private college, 400k mortgage at 3.5 percent, and decent but not amazing retirement savings. I’m mid 40s, have had long stints at every job, and excellent academic credentials and honors (think like Rhodes type category of education and achievements). Grew up very middle class (crappy public school where most of clsss doesn’t move on to a 4 year college) until I left for college)

Sounds like you have plenty of reserve to take a big hit and a big risk to your income. Your job situation is demoralizing. I can sympathize as a government employee at the top of the scale with no promotion potential, and like you I feel stuck and underutilized. Can you imagine spending the rest of your career like this? Life is too short to spend time working at something that doesn’t fulfill you in all the right ways.

[Anonymous]

Anonymous wrote:I have an interesting job, make $350K a year with (at least, to date) roughly 5% increases each year, work from home with no travel, and usually work around 40 hours per week (though it can be pretty stressful and difficult-think client service). I'm a hard worker and efficient employee and generally deliver results way above expectations. My challenge is that there is little potential for growth in this job. There are very few spots above me, and they are filled, and I'm hungry for a title change and to move from IC to a manager role. Many of the folks who are in roles above me are average to below average but are good enough to not be fired (and, at least to date, the bar is pretty high to be fired). Because I'm a good worker, I often get asked to do the jobs that no one else wants to take on. I essentially plug holes where needed, and given some potential for downsizing there are likely to be more holes to fill, with uninteresting and minimal paths to leadership (a parallel example would be a token senior associate role and having no chance for partner because they just don't want to make more partners). it's also a place where there's information hoarding and musical chairs at the level above me, rather than opening opportunities for upward mobility.

I'm creative, well-credentialed, and tired of getting shitty work. But I also know I have it good. I'd love to hear thoughts from people in similar situations, or who have moved on from similar situations. TIA!

Your pay for 2,000 hours per year equals $175 per hour. Are you a plumber ?

[Anonymous]

Titles and managing are completely overrated. If your comp is growing then focus on that.

BTW, managing is shitty work.

[Anonymous]

Anonymous wrote:Just realize that from what you’ve said, you’ll probably have to take a pay cut and/or go hybrid or in person to get what you want.

Yep. You will very likely need to travel and/or be hybrid. Also, having not been a people manager by this point (mid-40s?) is going to be a knock against you for a higher level role. But if you do end up managing people that will come with more stress. The way up is through more stress. Do you want that? If so, start looking. If not, focus on your family and yourself and doing a good job and ride the waves.

[Anonymous]

I am feeling you OP since I am in a similar situation but the money isn't that good. Take the job if offered and start job hunting for something that will help you move to the next level. Sock away as much as you can in anticipation of a pay cut so you can take risks. Also realize you should move about a year after taking the job. In your 40s, don't waste time! Realize ageism is real and you mighave have 5 to 10 good years left. Good luck!

[Anonymous]

Here’s a different way to consider things OP: those people who are in the room making decisions are working more hours/week than you. Take that and the fact that you said they may be making less than you…. Their hourly rate is a lot lower than yours, who have less to deal with!

[Anonymous]

I’m in the same position with a completely different mindset. This is called winning the game! Making good money and having flexibility as a well paid IC is awesome. Managers have so much more drag on them and they can never lay low - someone always needs something. There’s literally no reason to want to get into management, work more hours and have more stress - except your pride. That’s what’s tripping you up. Think about why it bothers you that you are not getting credit for. That will help you understand what your problem is. I can’t really tell you but I can tell you that not everyone feels that way.

[Anonymous]

OP, I think your decision here is extremely personal and depends on your goals and priorities. If you top priority is to spend more time with your kids and family, or something non-work related, then I would encourage you to stay where you are at and cope with your job dissatisfaction because it doesn’t sound that bad and you’re getting a great salary that allows you to work entirely from home.

However, if you feel like the sky is the limit for your career and you won’t be happy feeling like you limited yourself by staying where you’re at, even if it comes at the expense of your personal life/family time, then I would look elsewhere. I would just be prepared to make trade offs like working longer hours and away from home more. You may have more upward mobility, however. And that may be worth it to you. All depends on very personal factors and no one can tell you the right thing to do - it’s entirely up to you and your spouse.

[Anonymous]

Is it just for your ego?

Most boss jobs are awful. You are always putting out fires, dealing with messy personnel issues, being held accountable for mistakes someone else made. Why do you want that?

Consider therapy to figure out why contentment eludes you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:^ Given that your salary is out of the norm at your level, your risk of layoff is high. Are you the breadwinner?

This is the actual issue. If there is a layoff, the highest paid often are the targets, even if they really do perform better than others.

This.

[Anonymous]

Op this is a hard one. I'm in a similar position except I'm a fed so salaries won't rise. I'm moving agencies for more potential after getting looked over repeatedly. It will look like a lateral (or even demotion) but I'm looking to the long game.