Anonymous
Post 09/02/2016 20:45     Subject: If you got off the "hamster wheel"....
I left my junior partnership at a biglaw firm to be a tenure-track (now tenured) professor at a law school. Went from $500k to $120k. Now I make about $170k plus about $20-50k in consulting/writing/etc. Never lived like I needed a biglaw salary, and was able to save a ton and buy home outright.

No regrets at all! Married with two kids. We live comfortably but of course no crazy expenses like fancy cars or excessive vacations. But I love my job, can basically set my own hours (when not in class), and I have never had to miss my kids' sports events, recitals etc. Most of my friends from law school who are still at firms have gotten divorced and many have serious drug/alcohol problems. Life is too short.
Anonymous
Post 09/02/2016 20:32     Subject: Re:If you got off the "hamster wheel"....
is not an old man's profession and he started late. But it was something he always dreamed of doing, something that always caught his interest and I'm glad he's giving it a try and took the risk.


Does he have different plans to transition to as he gets older? What age is too old for sales?
Anonymous
Post 09/02/2016 20:22     Subject: If you got off the "hamster wheel"....
I transitioned from an intense job on the hill to being a consultant. I was pregnant at the time (age 39). It was great for family purposes. Tons of flexibility. Same pay. Much more risk but has been totally fine so far income wise. Don't regret it at all. Love being able to schedule and manage myself and run to target in the middle of the day.
Anonymous
Post 08/31/2016 13:38     Subject: If you got off the "hamster wheel"....
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:DH did it. Jumped out of program management and a ton of stress and hours and into IT sales. He's so happy and making more money than he could have imagined. His work is flexible and he lives and dies by his own productivity. He's always home by 4pm and is put meeting with customers and sometimes in the office for meetings.

Yes it was and is very risky, but the upside has been huge and the lifestyle benefits can't be beat.

Did he have to start entry level at sales?


No, he did not. When he was in program management is was for the same customer he now sells to, so he already knew the account and all the players. This was his foot in the door. He made this change at 40 BTW, which I think is actually a great time to do something like this. You are really on top of your game at 40.

I will say though, he could only really take this risk because I have a steady and consistent income. we have always lived pretty much off of one income, so he can afford to fail miserably while I carry us. I'm really impressed with that he had the balls to take this risk. It is NOT easy to put yourself out there in sales and roll with the punches. It is not an old man's profession and he started late. But it was something he always dreamed of doing, something that always caught his interest and I'm glad he's giving it a try and took the risk.


I am happy to take that risk, but if it bombed out and DW ended up as breadwinner for a few years while I pivoted, she would be really resentful. If he had effectively ended up as a SAHD (somewhat risky, if he mishandled this transition his old job would distance themselves too since he is leveraging that existing relationship)?

I am Fed, so can transition to any of our vendors or existing relationships, so does he think getting into IT/engineering sales without that same 'in', would it require starting at bottom? Not sure how to make that leap, but DW actually wants to stay home so boosting income is key part of that. I am 40 too btw.


I'm different than your wife. It really is a partnership. I don't really see it the same way as her, I support him, no matter what and really am proud of him putting himself out there. I think her attitude sucks frankly. She want YOU to do this for her, but she won't roll with the punches if it doesn't work.

Depending on where you are with the Fed and who you know and what value you bring, you absolutely do not have to start at the bottom. My DH was on the contractor side with a petticoat agency and was similar to a fed position and went to an IT vendor. I can tell you though, knowing people is one thing, but knowing how to leverage those relationships is another. It's not just taking people out to lunch and having friends.

Sales IS lucrative, bUT takes years to build and is much much less stressful if you have a spouse that financially contributes to the household. My DHs income can swing from 140k-400k and if he had a bad year, he can get sliced. Very dead opposite from working for the government, where frankl you are a protected class of worker. In sales, it's results only. It doesn't matter your age, gender, skin color or disability. No sales, no job.
Anonymous
Post 08/31/2016 12:35     Subject: If you got off the "hamster wheel"....
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:DH did it. Jumped out of program management and a ton of stress and hours and into IT sales. He's so happy and making more money than he could have imagined. His work is flexible and he lives and dies by his own productivity. He's always home by 4pm and is put meeting with customers and sometimes in the office for meetings.

Yes it was and is very risky, but the upside has been huge and the lifestyle benefits can't be beat.

Did he have to start entry level at sales?


No, he did not. When he was in program management is was for the same customer he now sells to, so he already knew the account and all the players. This was his foot in the door. He made this change at 40 BTW, which I think is actually a great time to do something like this. You are really on top of your game at 40.

I will say though, he could only really take this risk because I have a steady and consistent income. we have always lived pretty much off of one income, so he can afford to fail miserably while I carry us. I'm really impressed with that he had the balls to take this risk. It is NOT easy to put yourself out there in sales and roll with the punches. It is not an old man's profession and he started late. But it was something he always dreamed of doing, something that always caught his interest and I'm glad he's giving it a try and took the risk.


I am happy to take that risk, but if it bombed out and DW ended up as breadwinner for a few years while I pivoted, she would be really resentful. If he had effectively ended up as a SAHD (somewhat risky, if he mishandled this transition his old job would distance themselves too since he is leveraging that existing relationship)?

I am Fed, so can transition to any of our vendors or existing relationships, so does he think getting into IT/engineering sales without that same 'in', would it require starting at bottom? Not sure how to make that leap, but DW actually wants to stay home so boosting income is key part of that. I am 40 too btw.
Anonymous
Post 08/31/2016 12:34     Subject: If you got off the "hamster wheel"....
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:DH did it. Jumped out of program management and a ton of stress and hours and into IT sales. He's so happy and making more money than he could have imagined. His work is flexible and he lives and dies by his own productivity. He's always home by 4pm and is put meeting with customers and sometimes in the office for meetings.

Yes it was and is very risky, but the upside has been huge and the lifestyle benefits can't be beat.

Did he have to start entry level at sales?


No, he did not. When he was in program management is was for the same customer he now sells to, so he already knew the account and all the players. This was his foot in the door. He made this change at 40 BTW, which I think is actually a great time to do something like this. You are really on top of your game at 40.

I will say though, he could only really take this risk because I have a steady and consistent income. we have always lived pretty much off of one income, so he can afford to fail miserably while I carry us. I'm really impressed with that he had the balls to take this risk. It is NOT easy to put yourself out there in sales and roll with the punches. It is not an old man's profession and he started late. But it was something he always dreamed of doing, something that always caught his interest and I'm glad he's giving it a try and took the risk.[/quote

I am happy to take that risk, but if it bombed out and DW ended up as breadwinner for a few years while I pivoted, she would be really resentful. If he had effectively ended up as a SAHD (somewhat risky, if he mishandled this transition his old job would distance themselves too since he is leveraging that existing relationship)?

I am Fed, so can transition to any of our vendors or existing relationships, so does he think getting into IT/engineering sales without that same 'in', would it require starting at bottom? Not sure how to make that leap, but DW actually wants to stay home so boosting income is key part of that. I am 40 too btw.
Anonymous
Post 08/31/2016 12:10     Subject: If you got off the "hamster wheel"....
Anonymous wrote:
Anonymous wrote:DH did it. Jumped out of program management and a ton of stress and hours and into IT sales. He's so happy and making more money than he could have imagined. His work is flexible and he lives and dies by his own productivity. He's always home by 4pm and is put meeting with customers and sometimes in the office for meetings.

Yes it was and is very risky, but the upside has been huge and the lifestyle benefits can't be beat.

Did he have to start entry level at sales?


No, he did not. When he was in program management is was for the same customer he now sells to, so he already knew the account and all the players. This was his foot in the door. He made this change at 40 BTW, which I think is actually a great time to do something like this. You are really on top of your game at 40.

I will say though, he could only really take this risk because I have a steady and consistent income. we have always lived pretty much off of one income, so he can afford to fail miserably while I carry us. I'm really impressed with that he had the balls to take this risk. It is NOT easy to put yourself out there in sales and roll with the punches. It is not an old man's profession and he started late. But it was something he always dreamed of doing, something that always caught his interest and I'm glad he's giving it a try and took the risk.
Anonymous
Post 08/31/2016 12:09     Subject: Re:If you got off the "hamster wheel"....

1) What job did you leave, how much were you earning, and how much did you have in savings - both retirement and otherwise? DH got off the partner track at a law firm. He walked away as a senior associate. He was thinking of going to cooking school, and fantasizing about playing piano in a bar. We entered into our marriage not having to work so savings or retirement are not a concern.
2) What job to you move to (and how much did you earn)? After a little over a year, DH started a law firm with a friend. Their start up costs were VERY low - no office staff and fairly paperless and working out of our houses.
3) How old were you when you jumped off? He was about 30, I think?
4) Any regrets? No, he's MUCH happier now.
Anonymous
Post 08/31/2016 12:07     Subject: If you got off the "hamster wheel"....
Anonymous wrote:I recently left a big PR agency and started my own boutique agency. My hours are my own, my time is my own, and I can choose which type of clients I work for. And I can still do kid drop offs and pick ups.

The tough part was the beginning. Cash flow was a bit nerve wracking for the first 2months while I waited for contracts to even out. Also DH is a fed, and has nice, consistent hours and health insurance.

Now I make more than I did at my firm, work on better projects, and feel a new sense of motivation in my work. It was absolutely worth it.


How did you find your first clients?
Anonymous
Post 08/31/2016 12:06     Subject: If you got off the "hamster wheel"....
I recently left a big PR agency and started my own boutique agency. My hours are my own, my time is my own, and I can choose which type of clients I work for. And I can still do kid drop offs and pick ups.

The tough part was the beginning. Cash flow was a bit nerve wracking for the first 2months while I waited for contracts to even out. Also DH is a fed, and has nice, consistent hours and health insurance.

Now I make more than I did at my firm, work on better projects, and feel a new sense of motivation in my work. It was absolutely worth it.
Anonymous
Post 08/31/2016 12:03     Subject: If you got off the "hamster wheel"....
Anonymous wrote:DH did it. Jumped out of program management and a ton of stress and hours and into IT sales. He's so happy and making more money than he could have imagined. His work is flexible and he lives and dies by his own productivity. He's always home by 4pm and is put meeting with customers and sometimes in the office for meetings.

Yes it was and is very risky, but the upside has been huge and the lifestyle benefits can't be beat.

Did he have to start entry level at sales?
Anonymous
Post 08/31/2016 11:55     Subject: Re:If you got off the "hamster wheel"....
1. Associate at "boutique" law firm making ~$200K. $100K in savings, $50K in retirement.
2. Left to start my own biz (totally unrelated to law). Making $0 at the start.
3. 35
4. No regrets. Business eventually succeeded and now make ~$200K working 25 hrs/wk (from home) and have tons of time for family.

Important caveats:

1. DW had steady income, so that made my career change much less risky--we weren't going to starve if I failed.
2. We moved to lower COL area, so our housing costs and monthly expenses decreased dramatically.
3. Started business that required <$5,000 in initial capital, so our savings weren't affected.
4. I knew that I could return to law if business failed. Not at same level, but I would have been able to make a decent living.

In short, jumped off the hamster wheel, but with a parachute. I would never have done it without the items listed above.
Anonymous
Post 08/31/2016 05:13     Subject: If you got off the "hamster wheel"....
DH did it. Jumped out of program management and a ton of stress and hours and into IT sales. He's so happy and making more money than he could have imagined. His work is flexible and he lives and dies by his own productivity. He's always home by 4pm and is put meeting with customers and sometimes in the office for meetings.

Yes it was and is very risky, but the upside has been huge and the lifestyle benefits can't be beat.
Anonymous
Post 08/30/2016 22:54     Subject: If you got off the "hamster wheel"....
Do you mean early retirement or just a less intense job? I left biglaw where I was making more money than I knew what to do with for a 40 hr/wk in house job and then (bcs that was boring and not too challenging) a govt job (which os less boring but usually requires extra time at night or weekends). I am not sure if I will ever make it back to the salary I made 15 years ago in biglaw but I sure don't regret any of it.
Anonymous
Post 08/30/2016 22:06     Subject: If you got off the "hamster wheel"....
1) What job did you leave, how much were you earning, and how much did you have in savings - both retirement and otherwise?
2) What job to you move to (and how much did you earn)?
3) How old were you when you jumped off?
4) Any regrets?

DH and I are thinking about doing this over hte next few years. We're trying to come up with a plan, but I keep getting stuck worrying that this is a one way ticket and if we jump too soon and without enough savings (still trying to figure out what we would need) we'll pay for it the rest of our lives.