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I quit my £45k-a-year maths teacher job with no plan, now I’m on £70k and I have WAY more free time
A former teacher has revealed how he managed to switch paths and now earns more with more free time
DAVID Booth was on track to become a head teacher at his local primary school after he was promoted to head of maths, and thought his whole career was planned out.
His job was secure, he could walk to work easily, and he was able to live comfortably on his £45,000 annual salary.
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But with long hours and very little flexibility, David, 44 he started to have second thoughts about his career in teaching.
Despite the job security and comfortable salary, like many teachers, he craved more free time and a lifestyle change.
But, he didn't have any other qualifications and felt his skills in teaching weren't transferable to a different career.
Plus, he worried that a career switch would mean he'd need to take a much lower salary, which he couldn't really afford as he needed to look after his family.
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David, from Surrey, began researching online for a way to make at least the same amount of money but with more flexibility - and that's when he stumbled across a "financial adviser academy" run by a company called St James's Place (SJP).
The academy said it could help him switch into a career in financial planning from a different career - and he didn't need any prior qualifications in the area, as he could train on the job.
David eventually decided to give up his career in teaching and have a go at learning to be a financial adviser - a total career switch.
Financial advisers help people manage their money, something he had no experience in.
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While it's a highly qualified job, it usually doesn't require a degree or other qualifications, as training is usually done on the job.
After just three years working and training as a financial adviser, David was already on a £70,000 annual salary - far more than he had ever earned as a teacher - and now has more freedom with the hours he works, so he gets to spend more time with his family.
"I essentially went from a gold-plated job to self-employment at a time of great uncertainty, but I was determined to make it work and not look back," David said.
"I have far more flexibility now, it's been a life-changing shift."
Leaving teaching behind
David is one of tens of thousands of teachers fleeing the sector.
In the financial year 2022-2023, 43,500 teachers left the state-funded education sector - representing around one in 10 qualified teachers - due to changing careers or joining a different education sector.
A recent study by the National Foundation of Educational Research found less than half - 45% - of teachers felt satisfied with their jobs, culminating in many eventually leaving the profession.
And research by SJP recently found a fifth of those who are dissatisfied with their career feel so because it isn't flexible around their personal life.
But many teachers feel like they don't know where to go when they quit the profession, as they aren't sure if their skills are transferrable.
This is particularly the case for people further into their careers.
How to switch careers
But experts say it's really important that people are able to move into a career they find fulfilling more easily.
"Finding fulfilling work can have a positive impact on your physical and mental health, your relationships, your self-esteem, and, over time, your bank balance," explained Natasha Stanley, head coach at Careershifters.
"But career change takes time, and big journeys are much easier with a team of supporters.
"Surrounding yourself with other career changers, trusted family and friends, experts and mentors can inspire you, help you find solutions to obstacles, and stay accountable."
Experts say it's vital the government and businesses also make it easier for people to switch sectors for the benefit of the economy.
Catherine Foot, director of Phoenix Insights, said: “Employers, government and providers need to do more to inspire and support people to actively plan their careers across what might now be 50 or 60 years of working life.
"In our latest report in partnership with cross-party think tank Demos, we have argued for expanding access to the information and support people need to make career changes and get back into work."
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However, make sure you have enough money set aside before leaving your job, and don't make any rash decisions.
Experts suggest having around three to six months' worth of your salary saved for a rainy day.
Five signs it might be time to switch careers
By Dr. Lee Valls, celebrity coach
- You've reached a salary ceiling but want a pay rise
- You have a toxic work-life balance, where you're now "living to work" rather than "working to live"
- Feeling you've hit a ceiling and don't know how to progress further
- You're missing out on things that matter because of work, such as birthdays, key life moments and family events
- You're going against your values for your employer. If you're having to compromise on what you believe in to get ahead, it might be time to call it quits.
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