‘I left a seven-figure salary in my 30s to make cabinets’

Workers have been ditching six- or seven-figure salaries in search of more meaningful work, with the Covid-19 crisis acting as a catalyst for change.

More than half of British workers (53pc) are planning to change careers in the next year, according to research by Aviva, an insurer. Five million people said they were intending to turn a hobby into a source of income.

James Bullen, 41 from Essex, gave up a job as a commodities broker at JP Morgan, the investment bank, where he was earning around £1.1m a year, in order to take up woodworking.

In 2019 he enrolled at the Chippendale International School of Furniture to learn how to make cabinets. Once he graduates, he plans to move to America to set up his own woodworking school and live off-grid with his wife, four children and dog. He has already had commissions for his new business, which is called Black Bear Bespoke Furniture.

“The big salary was great. We went from living in a three-bedroom cottage to a seven-bedroom house with grounds and a pool,” Mr Bullen said.

“But something was missing. I hit 36 and realised I didn’t want to spend almost every day until my 70s commuting and missing out on my kids growing up, so I quit.”

Mr Bullen was leaving for work at 4.30am and returning at around 9pm. “I’d started at JP Morgan at 16, earning £7,500 making tea and fetching laundry. I worked my way up until I was earning £250,000 as a base salary and bonuses of £800,000 to £900,000 on top of that. It was a lot to give up and there have been moments where I’ve thought it would have been easier to stay in a normal office job, but as long as you have enough money to eat, you’re OK,” he said.

In between Mr Bullen quitting work in 2015 and enrolling at the school, the family moved from London’s commuter belt to Canada then Alaska to live in log cabins and learn how to chop wood and fish for salmon.

“We spent most of our savings then. The rest has gone on the £20,000 fees for the woodworking course, so it’s still a concern whether we’ll have enough money to get by,” Mr Bullen said. Some former colleagues have started commissioning him to make furniture. “One paid £20,000 for a 2m-high humidor to keep his cigars in,” he said. He has boosted his income by launching a crafts fair in his home town.

Other creative pursuits are flourishing, too. John Lunn, 52, walked away from his £200,000 salary as a management consultant to start a horticultural business. He recently completed a oneyear course at The English Gardening School in Chelsea.

“Everything I’d done before felt very scripted: I got my degree, then a master’s in business administration, worked in consultancy and ended up running a business, which we sold for a good price. After that, I just wanted to follow a new path,” Mr Lunn said.

“Coronavirus has got everyone interested in their gardens and how they can improve mental well-being. I think there’s an opportunity to make gardening more accessible and I want to bring together my corporate knowledge with the creativity I’ve picked up from the course.”

Gareth Hemming, of Aviva, said: “Lockdown meant that people found different ways to use their time and in some cases developed new skills.

“It allowed time to reflect on lifestyles and vocations, so some people may now be forging new career paths with their talents.”