I am at an academic research lab that does work for the DoD. I am paid 190k/year after a crazy raise I received followed by a (well-earned) promotion. I appreciate the pay raise and the value that is placed upon my work, but I am simply too expensive for all my projects now.
The laboratory works on soft money and my rate per year is now about 500k (this includes overhead, profit, etc). I believe this has price me out of the market to do Government research as most grants are on the order of 150k/year.
To keep myself funded, I find that I have to juggle 5-6 projects. These projects are ending too quickly given that I can only spend about 2 man months on each and then I am out of money. I am worried that when layoffs come (they always do), that I will likely be on overhead since its difficult for me to stay fully funded. Therefore, I am a good candidate to be laid off.
I have approached HR about a salary reduction but they said its not possible. I recently turned 40 and can't imagine having another 23 years at my job with raises, promotions, etc. with a continuingly upward trending salary. It seems simply unsustainable and that I will have to be laid off.
What are some options here? I feel stuck. Taking on a management role is completely out of the question. I am a terrible administrator and enjoying doing research & publishing.
Live as though you are poor and lay in stores for the long coming winter.