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WWYD - more money or one day off per week?

I am evaluating two options (I'm about to get a higher salary due to promotion). I can continue to work full time, or there may be the possibility of working 4 days per week ("8" hour, though probably longer than that) and taking a 20% cut on salary and bonus.

The way it would work out, if I do the 4 days per week at my new base salary minus the 20% reduction in salary for the day off, with the savings on the nanny it would be a wash financially with my current situation. Or, I could choose to work the full 5 days, and make about 10% more money. 

Would you take the day at home with LO or the extra cash (assuming you're not financially stressed to begin with)? Just curious if anyone else has been in a similar position...

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Re: WWYD - more money or one day off per week?

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    It depends on how comfortably you are financially. Would the extra 10% make a big difference in being able to afford your lifestyle? I'd take the raise if I felt we really needed the money, but if we didn't I'd take an extra day at home.

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    imageKC_13:

    It depends on how comfortably you are financially. Would the extra 10% make a big difference in being able to afford your lifestyle? I'd take the raise if I felt we really needed the money, but if we didn't I'd take an extra day at home.

    This. If we really did not need the money I would jump at the chance to stay home more. 

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    Since it would be a wash financially, with the nanny savings, I would probably do the four day work week.

    Of course, my feelings on my job are just "eh". If you love your career and your work, I can see it being a harder decision.

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    Any way you can work longer on your 4 days to make up that 10%? Best of both worlds. I work a 9/8/80 schedule so I work 9 hours M-Th and 8 every other Fri. That means I get my every other Fri off but still have a full paycheck each period. Its nice!
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    imagechelsb@cc.usu.edu:
    Any way you can work longer on your 4 days to make up that 10%? Best of both worlds. I work a 9/8/80 schedule so I work 9 hours M-Th and 8 every other Fri. That means I get my every other Fri off but still have a full paycheck each period. Its nice!

    I have thought about this but I've heard the longer days could be brutal. But in reality I'll work at least 9 hour days anyway, so maybe it makes sense. 

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    Personally I'd take the 5 days per week at the higher salary, because odds are even if you're scheduled to work 20% less, they're still going to give you a full time job, and you'll esentially end up trying to squeeze full time responsibilities and activities into a shorter work week. 
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    7/8 years from now, that would be a tough call, but right now, as a relative newbie to my field, I can get promoted relatively quickly by working hard & consistently. Long maternity leaves, shorter work schedules all lead to much slower promotions, so the earnings loss is not only the income from the hours I haven't worked, but it's also the loss from having to wait an extra year or two for the next promotion. I'm very pro-market but I still think it's crazy that taking maternity leave can be used as justification for delaying a promotion. Ah, anyway - that's for another thread

    Once I'm at mid-management level and earning towards the higher end of the ladder for my field, then I'd be more comfortable working a reduced schedule. For now, it's 8 - 5 M-F for the next few years.  

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    I would hands down take the extra day at home.  When I came back from ML 3months ago I went to PT 4 days a week and I absolutely love it.  I think it gives me the perfect work-life balance.  However my company is very flexible.  If I was in a situation where I was still expected to do FT work in less hours for less money, then No I would not do it.
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    I have dropped down to part-time and love it, but there are challenges. Are you sure you will be able to save money on your nanny? Depends on the area, but good childcare around here will not let you do part-time. You are taking a full-time spot, so I pay full-time rate for pt care. A nanny may allow it, but are you sure she won't find a family that will pay her full weekly rate?

    I work in the corporate world, so even on my days 'off' I still need to monitor work and be available if needed. I generally flex my hours over most of the week so that I am available when needed.

    Don't forget the part-time stigma, might hurt future raises.

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    imageMrs.RockyM:
    Personally I'd take the 5 days per week at the higher salary, because odds are even if you're scheduled to work 20% less, they're still going to give you a full time job, and you'll esentially end up trying to squeeze full time responsibilities and activities into a shorter work week. 

    I was just thinking this. What are the chances you'll have 4 long days and then one day a week of working from home?  

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    imagejf198400:
    I would hands down take the extra day at home.  When I came back from ML 3months ago I went to PT 4 days a week and I absolutely love it.  I think it gives me the perfect work-life balance.  However my company is very flexible.  If I was in a situation where I was still expected to do FT work in less hours for less money, then No I would not do it.

    For a financial wash, take the 4 days as long as you are NOT really still working 40 hours. As your kiddo gets old and gets into activities, homework, etc, not to mention if you have other kids, you will very much appreciate that extra time to get things done.

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    imagevszapp:

    imagechelsb@cc.usu.edu:
    Any way you can work longer on your 4 days to make up that 10%? Best of both worlds. I work a 9/8/80 schedule so I work 9 hours M-Th and 8 every other Fri. That means I get my every other Fri off but still have a full paycheck each period. Its nice!

    I have thought about this but I've heard the longer days could be brutal. But in reality I'll work at least 9 hour days anyway, so maybe it makes sense. 

    I have a 4 1/2 day schedule and it isn't that bad.  Adding an hour (or two if you wanted to move to 4 days) hasn't seemed to make my days feel any longer.  Of course I have the option to start earlier in the day (7:30), if I had to start at 9:00 I would feel like I wasted the whole day at work, and would be a little bummed.

    To answer the original question, if I didn't need the money I'd jump at the option to stay home an extra day.   I finish my "1/2" day here at 11am and it is so awesome to spend the rest of my day with the kids.

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    I would LOVE to work 4 days a week...so I'd take the opportunity in a heartbeat.  I feel like there is a lifetime to make more money, but you only get so much time with your children when they're little.
     
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    are you sure your nanny will be OK w/ a 20% reduction in hours/wages?  You may either have to continue to pay her FT wages or find another nannny who only wants to work 4 days.

    I'd also be very leery of how much of a day off that 5th day will be - no need to check messages/emails, etc?  Do you need the extra income for retirement savings?

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    imageKathrynMD:

    are you sure your nanny will be OK w/ a 20% reduction in hours/wages?  You may either have to continue to pay her FT wages or find another nannny who only wants to work 4 days.

    I'd also be very leery of how much of a day off that 5th day will be - no need to check messages/emails, etc?  Do you need the extra income for retirement savings?

    I floated it by our nanny, and told her that it was very important for us to keep her happy, so I wanted to get her thoughts. She said it would be fine, and that she might choose to pick up an additional job on her day off, or not. I am going to let her sit on it and ask again to be sure she's OK, but she really sounded fine.

    As to whether the 5th day would *really* be off, that's one of my main concerns.  

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    sjpsjp member

    4 days a week--no question in my mind about it!

    BFP#1 twins--m/c Baby B-- DC#1 DS 03/22/05 BFP#2 m/c 2006 BFP#3/DC#2 DD 10/22/09 BFP #4! EDD 9/15/12 at 9 dpo BabyFruit Ticker
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    I'd jump all over the 4 day work week offer.  I love working but I'd also love to extend my weekends by a day.  I would be able to spend more time with DD, not take a financial hit, and get a lot more done that I'm able to now.
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    I work 4 days/week (32 hrs) and I love it.  It really has made a huge difference and the 20% paycut has not hurt nearly as much as I thought it would.  DD is still enrolled in daycare full time so some weeks she stays home with me and other weeks she goes to school and I get a "me" day.  Me days normally consist of running errands, but it is still so nice to be able to get all that stuff done on Friday and have the weekends to do fun family stuff. 

    DH has even commented on many occasions how much happier I seem since I reduced my hours.  Plus, the option to go back to 5 days is always there.  Could you try out a 4 day schedule and then bump back up to 5 days if you decide the paycut isn't worth it to you?

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    imageMrs.RockyM:
    Personally I'd take the 5 days per week at the higher salary, because odds are even if you're scheduled to work 20 less, they're still going to give you a full time job, and you'll esentially end upnbsp;trying to squeeze full time responsibilities and activities into a shorter work week.nbsp;


    This would be my fear too.
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    imageNechie122:
    imageMrs.RockyM:
    Personally I'd take the 5 days per week at the higher salary, because odds are even if you're scheduled to work 20 less, they're still going to give you a full time job, and you'll esentially end upnbsp;trying to squeeze full time responsibilities and activities into a shorter work week.nbsp;
    This would be my fear too.

    Ditto.  I guess it depends on your role, but in mine there would be a lot of time-suck like this and I would feel like I took a bad deal by agreeing to a 20% pay cut and not getting 20% less work.

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    Without a doubt, take the extra day!
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    After 1 month back at work I couldnt take it and asked my boss to reduce my hours to 4 days/week (32 hrs). Luckily he was on board and its been so great to have that extra day with my daughter! Now, that being said, I still have basically the same work load and am perpetually behind on things so that stresses me out! A lot of weeks I end up working a few hours from home either after she goes to bed or on the weekend. I agree with what others have said that if you feel just "meh" about your job and its a wash financially then to go for it!

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    I would take one extra day off and forego the extra money, but we are not in need of any extra money and live comfortably.  If we needed the money, I would take the extra money and work one more day. 
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    I do this exactly (32 hrs a week) and love it. I hope to stay around 30-32 hrs per week in the future too so that I can avoid before/after school care.
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    4 days a week- in a heartbeat
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    additional day off for me

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    I actually work 4 days and I absolutely love it.  I did have to take a 20% paycut to do it but it's worth it to me.  I only pay for 4 days in daycare so there is a little bit of savings but it's so important to be home with DD right now.  I use our day off to schedule all of our doctor appointments (so I don't have to do that during work hours), do chores around the house like laundry, do the grocery shopping and Target/BRU trips (which is awesome mid-week), and try to squeeze in a baby/mommy class or do story time at the library. 

    For me it's more of a lifestyle change and one that we could afford to do.  I would not trade it for anything at this time.  Maybe some day I'll go back to work full-time but maybe not.  Right now it's a great fit for our family. 

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    Before I read the full post I thought take four days and keep the nanny on the 5th day....  :-)  In all seriousness, I would love extra time to get all the chores done so our weekend could be 100% family time and relaxing.  That's my dreamland.

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    imagechelsb@cc.usu.edu:
    Any way you can work longer on your 4 days to make up that 10%? Best of both worlds. I work a 9/8/80 schedule so I work 9 hours M-Th and 8 every other Fri. That means I get my every other Fri off but still have a full paycheck each period. Its nice!

    I work this same schedule.  To be honest, my Fridays off are almost never spent with my kids.  Maybe it's due to my H being deployed, but those Fridays are "me" days.  I get a massage, a hair cut, read a book, run errands, etc, and generally just take care of me.  The kids, therefore, get a better me on the weekends.  When my H gets home, I'm not sure what we'll balance it with.  It may turn out to be a date day for us, since he works the same schedule as well.

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    I work Tuesday through Friday.  I am so exhausted by Friday, so I have no idea how I would make it working 5 days.  However, my situation is a little different because DH works on Saturdays, so our weekend together doesn't really start until Saturday night.  When I used to work Mondays, it never felt like we had a weekend together. 
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    imageKC_13:

    It depends on how comfortably you are financially. Would the extra 10% make a big difference in being able to afford your lifestyle? I'd take the raise if I felt we really needed the money, but if we didn't I'd take an extra day at home.

    I agree.

    If I was offered more money or fewer days right now in my current situation, I'd JUMP at the chance for fewer days.

    promised myself I'd retire when I turned gold, and yet here I am
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    I do 4 8 hour days at 80% pay and love it.  If you can swing it, I think it's worth it.  Having that one extra day at home with the kids and to do chores or fun things during the week when everything is not so crowded has really made a difference in my quality of life.  I still pay f/t daycare for DD, because ours won't do p/t until they're 3, but it gives me a little more flexibility if I need to drop her off or switch my days off because of a work conflict.

    If things are tight finacially, I would go with the f/t, but p/t rocks if you can.  I've been lucky that they haven't totally screwed me by making me do essentially the same job in less time, but I do think you get to be a little more efficient, too.

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    If it were me, and we could be comfortable financially with me making a salary based on .8 FTE, I would probably do it to be home 1 day with my kids.  The one thing I would worry about is knowing that I would put in close to 1.0 FTE hours, but not get paid for it.

     If it's an option, I would ask to work 9 hours per day, 4 days a week (.9 FTE).  That way you're not taking as big of a hit financially and if you know you're going to be working more than 8 hours a day (or 32 hours per week) you might as well get paid for more than 32 hours.

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    After having DS I only went back to work 4 days a week instead of 5.  It cut my hourly pay by 8 hours but kept all my benefits the same.  Now that DS is 3 I still only work 4 days.  I love my midweek break and we always do something fun.  If you can afford it, DO it!  They are only young once!
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    I'd work the four days for less money. I feel like my workload at home tripled after having my first LO. There was really no way I could do my very stressful job full time and have any energy for what needed to be done at home raising LO.
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