Working for $130k makes sense in your situation because it is nearly half your HHI. It makes less sense when it is a much smaller proportion. |
When a biglaw lawyer leaves to stay home with her kids and is married to a partner earning $1-2m, I don’t consider her at the bottom. I would say this is a higher position than two working spouses in average jobs earning 300-400k combined. If you are married to a CEO, law firm partner, hedge fund manager earning millions, you are not bottom rung. Most women married to these types also are well educated and beautiful. |
You represent almost half your HHI. Of course it makes sense for you to work. Your husband doesn’t earn enough to fund your retirement. Imagine your husband earned $1m. To earn that much, your husband would have a more demanding and flexible schedule and most or all the family and household duties will fall on you. It is a trade off for sure. |
| Find another job |
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OP, I would try to find a flexible job first before deciding to leave the work force.
I started at a high stress job. I switched to a 9-5 job and have also worked part time and consulting jobs. I currently stay home and don’t have a job. I manage our investments. I will take another part time position if it works with our schedule. Absolutely do not attend that meeting next week. I remember working thanksgiving weekend on a deal I was working on. I worked thanksgiving day, Friday after thanksgiving and that weekend. I used to work on billion dollar transactions and had this giant bonus every year. It was not worth it. |
| I don’t run in the kinds of circles where husbands are making $1M/year or even close. We live in a neighborhood with a lot of double feds or fed/teacher or fed/flexible private sector. In the cases I can think of, the families with a SAHM have less financial stability than the dual working families, not more. I understand in uber wealthy circles this is not the case. But I don’t understand women who SAH with school aged children (not infants and toddlers) but can’t afford activities for them and don’t have a plan for college. My sister is one such person, though she doesn’t live in this area. No college savings and doesn’t seem to really care. |
I make $200K with typically a small bonus and have a job that is fully remote, about 40 hours a week. I guess they are not super common but among highly educated women in their 30s and 40s in the DC metro area I also don't think they are unicorns. |
It’s bottom rung in that they are not doing anything professionally. The “friends” at the top rung now look down on them and perceive them as worthless. |
Lol. No. |
+1 OP's boss sounds like a nightmare. She needs a job with better work/life balance and respect for employees. FWIW, I took off 7 years but was able to regularly freelance during that time to keep up my connections/resume. Had no trouble getting back into a FT job when my kids started ES. ES seems like the time when it's easiest to work FT as long as you have some flexibility. |
Lol, no. Lucky and privileged? For sure. But plenty of these types have a BA in basketweaving, never worked any sort of real job, and put on 10-15 lbs with each successive pregnancy. I've also noticed a high correlation with anxiety. |
Of course they are not super common! Some DCUMs live in such a bubble. For my work I have access to a large database of demographic data. Looking just at people who are employed FT and have a graduate degree and live in the 5 largest markets in the US (so, expensive regions), the median individual income is $106K and only 15% have an individual income of $200K+. And for women the numbers are lower -- median $94k, 9% at $200K+. |
Thanks for this data- and this income is for FT workers, not these superflex PT positions some people are describing! |
Narrow the data down for women in their mid 30s and 40s. FT data on women is going to skew heavily towards women in their 20s since so many women drop out of go part time. That a 25 year old only makes $80k isn’t relevant at all to what a 42 year old woman can make. |
Seriously, people are delusional about what typical salaries are. I added the filter for age 35-54, so prime earning years. The sample size is getting a bit smaller (really, not that many people have graduate degrees). Still, women 35-54, employed full time, have a graduate degree, live in the top 5 markets, ... median individual income is a bit higher but not tremendously-- $104.5K, 11% make $200K+ (personally I fit those criteria and make $160K with great work/life balance and think I'm doing quite well).
And, yes, some women drop out of work but full-time work is the most common situation. Among those women with graduate degrees age 35-54 in top markets AND have children at home (59% of them), 63% work full time. Those opting not to work FT are more likely to drop out than to find PT work (23% not employed, 14% part time). The FT salary profile is similar regardless of whether or not there are children. |