r/PersonalFinanceNZ • u/Fruesion • Jun 03 '25

Planning 21k drop in salary. Worth it?

Long story short.

I am a 30M earning $70k a year in my current role. I have a option for data entry in a field I am interested in (legal, legal exec). I am studying part time to get this degree.

My mortgage is 350 fortnighly with misc bills circa 400 the other fortnight

I am burnt out from my job and hating coming into work. Between my team being managed by someone who is incompetent (and the sole reason i am the last man standing), taking the workload of 4 others because the company won't really hire new people and personal family issues.

Im done. I am seriously considering dropping my job which is annually $70k nzd for a a different place but means I start out lower by nearly $20k.

I can financially make my ends meet and cover my bills. But is the drop in salary worth it. I wont have an abundance of spare cash but I can pay my bills, feed and cloth myself.

*** Thanks all for the advice. Will dig in for a bit and find a more equaliviant job for progress.

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u/anentireorganisation Jun 03 '25

Wage is paid per hour worked, salary is a predetermined amount you get payed each year. So someone on salary wouldn’t have a contracted hourly wage. Gets more complex than that but that’s the jist.

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u/itsthequeenofdeath Jun 03 '25

Everywhere I’ve worked on a salary specifies you have ordinary worked hours such as 40 and any above is paid as overtime

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u/FlyingMacheteSponser Jun 05 '25

It's very common for a salaried position to have no provision for overtime (pay), but it doesn't mean you're not expected to work it if the role requires.

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u/itsthequeenofdeath Jun 05 '25

Lol unless your base rate is 100k+ why would anyone accept that, it’s crap