In today's world of the hybrid workplace, I wouldn't bother with a 80 percent schedule. If you can do your job in 32 hours, just do it in 32 hours and take your full pay. If you can't, honestly, it's doubtful that will change just because you ask for a reduced schedule.

I have done an 80 percent schedule. I did not feel it was a great deal.

Unless there is a concrete plan to reduce your work by 20 percent, you'll end up working roughly the same hours. You'll just put 110 percent effort into your four days and then have all your downtime concentrated into the last day, rather than having that downtime spread out over five days.

I took Fridays off, which is a day that a lot of people are taking long lunches or leaving early anyway. So I didn't feel it was a good "value" for me since on average most arent working 8 hours a day on Fridays anyway. Problem is, choose any other day to take off regularly and you're missing reoccurring meetings, can't push issues along, a deadline may fall on that day, etc, and it becomes more stressful and complicated for you.