Advice on taking a pay cut

68 Comments

1. AnonymousFebruary 19,2024 at 7:02PM UTC

   I was at $54K when I got laid off in ‘09 and took $50K in ‘15. Through sheer luck and a reorg I now make $80K. With bonus, stock stuff etc I actually hit the $100K mark for the first time.

2. KathyAnn KrajcikFebruary 19,2024 at 8:08PM UTC

   Yes, I am out of work since August and haven't found anything yet. More times that not, the companies want to pay next to nothing. I have a house and need to cover the mortgage and bills. This is the worst job search I've ever seen. I have to hang in there, and so do you. Determine how much you can live with to meet your obligations. You can always continue looking when you have a job.

3. Lu SabalFebruary 19,2024 at 9:18PM UTC

   Yes, I re-evaluated my options and decided to change my administrative career into sales.
   What industry did I know outside of administration? Cars, sales and automotive repair. It was the best move ever. No being trapped with catty people and office politics. It’s all in the numbers. Maybe it’s time to make a big change in your career?

4. Jenn Paster DetmerFebruary 19,2024 at 10:00PM UTC

   Assuming this is a position you are interested in, I might look at how you can negotiate a larger pay increase when you take it. I would do some research on the pay range for positions of that grade in the company by reaching out to people you know in the company or checking other sources (salary.com, glassdoor, etc., industry specific professional groups). Then if the job has a grade level that allows for a higher salary, start by negotiating for a higher salary at the start with a 3 or 6 month review with an additional larger jump to meet the gap if necessary. If the grade does not extend to what you have come to expect, I would 1) Look at how it compares to the market and bring that to the hiring managers attention and/or 2) have a conversation on what it would take to get the position upgraded to the next paygrade level. Then negotiate to have a review with the position upgraded in 3 or 6 mos. time if you meet the said criteria. With that being said, I also think you can look at how much you might be able to move/jump within the company outside of the hiring process. And, don't forget to consider the benefits side of it too when comparing. You may be able to negotiate for things like more vacation, better retirement matching, use of company miles or properties, etc. etc. depending on the companies policies, which can be big benefits in the long run. If you are interested, start out with a lot of questions around how the compensation was decided and how things work in the company. That will allow you to negotiate from an informed position and decide if you want it regardless of outcomes and understand which areas have are most ripe for "poking" holes in the current range.

5. AnonymousFebruary 20,2024 at 1:36PM UTC

   Just take one of the offers and keep looking. If something pops up that pays better, take it. Do what's best for you. Companies would not hesitate to lay you off, replace you, rescind an offer within months.

6. AnonymousFebruary 20,2024 at 1:49PM UTC

   Same boat. 50s successful career, seeing jobs in my field, paying at least 50 K more than what people are offering me. I was at the end of my rope. Hundreds of applicants that I was trying to compete against when before it was like maybe 10.

   I ended up taking a position that was two levels below a position. I had five years ago but pays 20 K more so less expectation and decent pay.

   Some of the lower level positions now pay more than they did five years ago and it’s less expectation.

7. AnonymousFebruary 20,2024 at 2:12PM UTC

   Laid off one job and contract ended earlier than expected on another all in one year. Received a call yesterday for a job that I applied to and asked what I was looking for. I have a range and which I felt started out low and was told that the pay was 70k. So much lower than my minimum and will be a huge pay cut from what I was previously making. I asked if there was some wiggle room and was told they would check because of my experience. I am not holding my breath that I will get a call back or they will even get close to my minimum. At the end of the day you have to look at your own financial situation. I will most likely pass unless they can at least offer something in the 90s. But it does not hurt to ask for something more especially if you have the qualifications and experience.

8. AnonymousFebruary 21,2024 at 7:40PM UTC

   Same boat. One layoff from FTE and one contract that abruptly ended in a year. Frustrating, yes?

9. AnonymousFebruary 20,2024 at 2:21PM UTC

   I'm in this situation, for sure.
   In my mid 50s and 2023=TWO layoffs for me. I recently took a contract role with a $25K pay cut to keep the lights on while the search continues. Is this the preferred route? Not at all. However, bills are real. And, with layoffs rampant, short stints and resume gaps can't be that unusual.

10. AnonymousFebruary 20,2024 at 4:32PM UTC

    I could have written this myself, except a bit younger (not much). Laid off in 2022 and took a $30,000 pay cut for my next role. Just got laid off again. I am a finalist for a contract role which will be another $20,000 pay cut. But if I get the offer, i am taking it because it is a good job and hopefully the tech sector will settle soon and I can find a FTE. Meanwhile, I plan on trying to stay employed with contract gigs and looking until I can kiss a frog prince job.

11. AnonymousFebruary 20,2024 at 7:41PM UTC

    Yes we all have, and yes you should take it think about putting money in your account and then continuing to look if need be. Unemployment if you have it will run out if you wait for the perfect job. And your bank account will run dry. As for short stints, the explanation when asked is " I was recruited away because I am expert in XYZ and the company wooed me to come there". Never ever apologize for moving around. Good people don't stay stagnant if they can help it. they move up or out!

12. AnonymousFebruary 21,2024 at 1:25PM UTC

    Yes, same for me. I've been thinking of taking a part time job just to have something because being home is not my cup of tea. I looked into the market and it's is saying what I am feeling, the market for unemployment is not as good as it was even last year. It's going to be slow. I've done so much training that I can't look at a screen. For me it's been a month.

13. AnonymousFebruary 21,2024 at 1:32PM UTC

    I took a 25K pay cut once to get out of a toxic work environment, I did so knowing there would be opportunity to advance and I was promoted in 6 months. However with the job market the way it is, there is nothing wrong in taking a role and continue to look for something that fits your long term needs. It is no longer the black eye on your resume anymore if you change jobs as it once was. You have to look out for you first, the companies are looking out for them first.

14. AnonymousFebruary 21,2024 at 1:53PM UTC

    I've run into this as well.

    I just recently had an 'initial' phone interview and she asked me what my salary requirements were, even though the 'range' was posted on the Job description, and I told her that I was 'negotiable' and left it at that.
    You should always know your worth and negotiate salary when you get an offer.
    Companies expect you to negotiate, because if you don't, then they will continue to low-ball you in raises as well later on.
    If they can get away with low-balling you, they most certainly will.
    Accepting a $70k cut is quite extreme and I wouldn't be able to live off that myself, but you might have a 'dual income' situation, where I don't.
    I have to be able to pay my rent and other bills as well.

15. AnonymousFebruary 21,2024 at 2:30PM UTC

    I have been out of work since 2022. I was apart of a layoff, and I was 6 months pregnant. Trying to get a job while pregnant is awful. You get to the second interview and see your belly, congratulate you and tell you that they have chosen someone else. Legally don't have to post a discriminate but it's very difficult prove. Since then I have been applying and have had many interviews but still no job. Recently, I have even had my old job reach back out to me (completely different management and structure because most of the old team and managers have also been laid off) He asked what would I need to make it work. Thanks to my husband, I wouldn't need to make the amount I was making before and told him the minimum I needed to survive which is around 55k. He told me well that would be a problem, and everyone who was there had to take a pay cut, and to not expect the same amount as before. I told him that I completely understand and the amount I gave him was a pay cut... A 20k pay cut. But I would still like to help out if the needed someone part time. I gathered that he wanted me to work my old job for minimum wage. I can't even cover the cost of daycare, let alone my other bills. My nest egg is drying up. Got a few more months to try to figure things out. So yeah, I understand your frustration. If you can't get your worth, is it possible to look out of state? I don't want to tell you take anything but the market is really difficult. You may have to make a big change to get what you deserve.

16. AnonymousFebruary 22,2024 at 2:52PM UTC

    Unbelievable. So they basically want your experience and know how and institutional knowledge and to work you to death for as little as possible. While I'm sure the execs are making good money. Unbelievable! Maybe 55k for part time!

17. AnonymousFebruary 21,2024 at 4:48PM UTC

    I did a job pivot once where I was making six figures, and the pivot had a high end of about $35-40K for entry-level (with a master's degree) and a total potential of less than I was making before. It was brutal.

    Besides not many jobs, why has the earning potential dropped so much? Were you overpaid for your position? That is a huge difference. Based on my experience, I would suggest you trim as much as you can from your budget over the next month or so to try and pull together a few more months of savings. I had to give up a vehicle, utilize public transit as much as possible, cut out premium cable channels, restructure my debt, plus sell my house and move into a rental that was cheaper than my mortgage. Do all this before you are forced into a situation where you may have to consider bankruptcy.

18. CautiousFebruary 21,2024 at 5:00PM UTC

    A $70K pay cut is huge, so I feel for you. I am in the same boat. My last job (remote and wonderful with a great just-under-six-figure salary) ended in August. I only want remote work. I am in my early 60s, but I do not look it, sound it, resume does not reflect it and am in great health. I think I wI’ll be offered the position I am interviewing for but it would be a 56% cut. But it would also have health benefits which I don’t have at all right now. The pay would just barely pay my bills. But am thinking I may take it and continue to look for something else. I just wouldn’t add it to my resume or LinkedIn. I don’t know, it’s a tough decision.

19. Rosanna Raffaela PizzaFebruary 22,2024 at 2:25PM UTC

    Sounds like a plan .. if you can stretch it and get the health benefits which are crucial these days do that and keep looking.. Good Luck.

20. AnonymousFebruary 21,2024 at 6:53PM UTC

    I am in the same situation with a potential offer coming in at a few levels below (title) and hopefully just $35 below what was offered to me to stay (vs receiving the severance package). Considerations:

    1. Is the position stable - i.e., is there enough investment planned in that area to support that role?
    2. How are the benefits?
    3. Other perks - bonus plans, stock, discounts, paid transportation, etc.?
    4. Is this a company that fits all your 'must haves' and 'loves' - culture, work, etc.?
    5. Will you learn and grow in this role?

    I am considering the total package when determining whether or not to take a position. I am 6 months into my job search so completely understand.

21. AnonymousFebruary 22,2024 at 12:48AM UTC

    Yes I have - And at some point you have to move forward with what available NOW...

    At the least, this lower paying position can be a "filler" job until a more ideal opportunity comes along.

    Those 4 months can easily become a 6, 8, 10 month gap between jobs which is not ideal. Good Luck!

22. JJFebruary 22,2024 at 2:41AM UTC

    I am so sorry.

    This market is brutal and I am scared for what is coming. Would they possibly hire you as a contractor so you could present it differently on your résumé at a future date? I just can’t imagine taking such a huge pay cut! Or maybe work slightly less hours so later you could say it was part time? It’s so hard to make-up salary gaps.

23. Rosanna Raffaela PizzaFebruary 22,2024 at 1:13PM UTC

    OMG I am going through the same!
    and I'm disabled so I can't just take any job because I'm walking with a cane (barely) so if I disclose it (which I did in a round where I made it to 3rd interview) I was ghosted (after being assured I would be called) or if I don't disclose it and they make me go to a in an person interview, they will see it and I can't even physically do long walks or stairs so I've blown off several interviews myself and the city is not do able for me (NYC). So I got offered a position at a place I worked at 20 years ago (and it ended BADLY where I quit and said never again, and I know the owner personally from childhood). I was astounded and when he kept asking how much I made, I ignored him thinking he was being nosy and it was for a different company then when I did answer he said oh you make too much. So I LOL'ed it off. Then he offered me 20k less and I've been seeing that this is not going to go well and I'm going to have to take it. It's also close by and a smaller office (my job 'eliminated' my job after 10 years coincidentally when I asked for close parking and an ADA to work 1 day a week in my office where no one on my team was going in.. there was no place to hold on, handicap spots were far and few between with the closest ones still far and the real close ones being taken by people using fake placards (I know for a fact)). So yeah. For insurance and a paycheck with nothing else popping off I'm going to have to (but I'm going to have to fib and make it look like I had offers and I am not desperate because I could feel that vibe when they called me and I do not like it at all). 70K is huge. But if you are going to have no other income and no health insurance? Take it and keep looking. It is rough out there and we are being aged out as well.

24. AnonymousFebruary 22,2024 at 1:19PM UTC

    it has been an adventure definitely

    you have to undergo big changes to ride it out these days.

    i was evicted from my apartment because i could not pay rent. as veteran of USAFE i joined the VA and i had to relocate to the city mission in PA. This is a God send and placeholder until the next job comes. i do work here for board and room doing my part living here. there are good things happening here, to solve problems before proceeding forward.

    if you can find someplace like this i would suggest it to you.

25. AnonymousFebruary 22,2024 at 1:25PM UTC

    My question and comment is "is having a job and getting some money better than no money?" If you have no job now and have been looking for some time and you have an offer of something, I would take it. Yes- it will be stressful for you to do the new job and keep looking for a better job, but it's money in your pocket which would hopefully keep your savings last longer. I would also cut back on things you do not "Need". Such as tv, cable, and if your a starbucks lover like myself, cut that out and that'll save you a good chunk of money.

26. AnonymousFebruary 22,2024 at 1:34PM UTC

    Yes. 1st time after being off for 9 months during the mortgage crisis. 2nd time just a year and a half ago.

    I went into it with tje attitude that I'd work to get promoted but also keep my eyes open for better opportunities.

    I found that only my discretion spending took a hit but all the basics were covered. And I had more work life balance.

    It's OK to take a temporary step back.

27. AnonymousFebruary 22,2024 at 1:42PM UTC

    Sometimes you have to take a step back to move forward. I heard that recently.

28. AnonymousFebruary 22,2024 at 1:50PM UTC

    I would take it because I’m extra cautions. I took a pay cut to work somewhere else because I was unhappy where I was. That was 3 years ago. I’m currently at $20k more than the initial job I left. It’s better to have something than nothing, and eventually things can turn around. Good luck!

29. AnonymousFebruary 22,2024 at 2:07PM UTC

    The key thing to do here is look at the options in front of you today, which are either a reduced salary or no salary. If you do not have promising interviews for roles in your old salary range, there's no point in comparing these offers with your old job, or with potential higher-paying offers that may not emerge.

    Instead, focus on what your bottom line is from an income perspective and the specifics of the jobs themselves. For example, if you were able to pay your bills, show consistent employment and gain experience in a new industry, that seems like a good bargain. Also bear in mind that even if you were able to get a high-paying job a year from now, the salary would be a wash for a while given the year you'd spend with no income - and it can be much harder to stay positive and confident following a long job search.

    Furthermore, don't worry about setting a bad precedent for future compensation. In some states it's no longer legal for interviewers to even ask what you were making, but if that's not the case for you, you can simply state that you're not willing to leave your job for less than a certain amount.

30. Evelyn CruzFebruary 22,2024 at 2:12PM UTC

    Like I am in my 50s and the same issue. It took me 8 months to secure a permanent role. Apply to all job boards out there such as: Linkedin, Monster, Careerbuilder, Talent, etc. Reach out to former colleagues let them know you are looking for a job. Most important open yourself up to contract work many times they are extended and pay more than W2 although sone of the contracted role are W2 and offer benefits. Reach out to temp agencies such as: Michael Page, etc. You will find that opening yourself yo a contracted role in different capacities csn keep you employed until you find something permanent and in between unemployment helps.

31. schneileFebruary 22,2024 at 3:51PM UTC

    Agree; I'm telling my network that I'm open to contract work!

32. Rosanna Raffaela PizzaFebruary 23,2024 at 5:02AM UTC

    Career builder has become garbage - you apply for a job and are bombarded all day and night with texts and calls and spam and jobs that you would never apply for. It is SO bad.

33. schneileFebruary 22,2024 at 2:15PM UTC

    I personally did that once in my career: Took a 17% pay cut. It was fine at the time. I'd do it again--but not an unreasonable percentage. Example: My current employer, a massive public company that's laying me off next Friday, wants to interview me today for a down-leveled role with a number of cuts (no annual bonus, no paid work phone, reduced PTO days). But the most egregious element of the reduced comp package is the pay reduction, which the internal recruiter believes will take me back by about 40%. I told her I am unwilling to accept that from my current employer, given my outstanding track record of achievement over the past 7+ years.

    Well, she set me up for an interview today with the hiring director anyway. I'll do it, since it's not wasting MY time--but it's probably wasting the time of the hiring team unless they can do better on the base pay.

    I realize my situation is different as I haven't been on the market yet, but I'm just not willing to take that kind of reduction from my current employer, which has shown itself to be a vastly different company under new management than it once was--and clients are noticing, too. (Hence the "need" for layoffs, LOL. Also, we must protect C-level bonuses!)

    Would I take that cut to go elsewhere? Probably!

34. schneileFebruary 22,2024 at 2:15PM UTC

    I wonder if men are being forced to make these choices? Hmmmmmmm

35. Mari HaysFebruary 22,2024 at 2:22PM UTC

    Would you be willing to give your location? Sometimes networks like this know about opportunities that aren't on the major recruiting boards.

36. AnonymousFebruary 22,2024 at 2:23PM UTC

    No offense but 150K is pretty good to live on. But depends where. And yeah the mileage gas tolls parking will add up but some of us are not even making 60 with an MBA and years of service. In NJ it sucks - everything is high, taxes, food etc. I'd be whistling dixie if I made 150k! and your previous salaries WOW....

37. Nancy BrennerFebruary 22,2024 at 2:25PM UTC

    Everyone female I know has taken a pay cut. After several years, you have the opp to slowly build back to where you were salary wise. Try to negotiate for more time off and/or opportunities for upskilling training budget. Best of luck.

38. Marcia SmithFebruary 22,2024 at 2:31PM UTC

    You need to do what is best for you and your mental health. I have always kept a side job just for this reason - to provide additional financial stability. It's crazy that I have a doctorate degree and 20+ years and STILL need a side job, but it is what it is... At least I'm putting money in savings and paying off my mortgage early :)

39. AnonymousFebruary 22,2024 at 2:39PM UTC

    I took a huge pay cut for job after no job for 6 months. My skills as an admin will never go out of usage. I am also willing to learn new skills etc. I always go through employment agencies. They know the industries and can match someone best. All the best

40. AnonymousFebruary 22,2024 at 2:43PM UTC

    I am in my 50s and took a job a year ago that was significantly less salary than I was making in the past. Turned out to be the most fun, rewarding job I've had. And six months ago, my Board of Directors gave me a 15% raise. You never know . . . Also, you mention being laid off the past few jobs (therefore not there very long). I'd take into consideration the stability of your next position - maybe lower pay but better likelihood that you won't get laid off after a year?

41. R Seema Devi KaurFebruary 22,2024 at 2:54PM UTC

    I had been in your position after taking a medical leave andI ultimately switched industries (completely unexpected).
    I would continue the search and leverage your expertise as an independent consultant/contractor (?). This is how I landed in Legal/Technology after 15 years in Finance/Technology. If you remain in the same industry and geographic area, during the compensation discussions consider your out-of-pocket expenditures (healthcare, dental, vision, retirement plan etc.) and make sure you're well compensated. Once you get your foot in the door, establish meaningful relationships and absorb as much information as possible, make yourself a valuable asset so they can't help but say yes to an FTE position with the Organization.
    Remain confident and always know your self-worth!

42. AnonymousFebruary 22,2024 at 3:05PM UTC

    In the same situation, laid off last October.
    I've done everything to find a new job and had a few interviews. I also noticed that many jobs with my title now seem to pay around $30k less. I try not to answer when asked what I want to earn, but instead, I give them a range and also tell them I need more details about the job before I can give a definitive answer. I'm willing to take a $30k pay cut, but I can't go back to what I earned 10 years ago. Money is not super important for me; work satisfaction is, but the cost of living needs to be taken into account.

43. LORI-ANN BURLINGAMEFebruary 22,2024 at 3:28PM UTC

    Yes, but I was not directly impacted by the pay cut. However, I was impacted by the lack of raises and other financial incentives.

    The newspaper I worked for took these drastic measures, becasue of the changing marketplace and their loss of revenue -- due to social media. The paper was changing its marketing platform - but rekooping revenue takes time.

    Have you heard of https://www.theladders.com/? This is an excutive search firm, salaries $100K+.

    With that large of a pay cut, I question the decision-making skills of management. Protect yourself. You may want to visit the website listed above.

    Keep your options open. The marketplace changes everyday.

44. Rosanna Raffaela PizzaFebruary 23,2024 at 4:58AM UTC

    Ladders is pricy

45. AnonymousFebruary 22,2024 at 3:52PM UTC

    I agree with how stressful that is

46. AnonymousFebruary 22,2024 at 3:54PM UTC

    If you can’t find anything, take the lower paying job. It’s better than draining your savings, and it’s easier to find a better job when you are already employed.

47. Jennifer K. BouletFebruary 22,2024 at 3:58PM UTC

    I’m on my last month of savings. My résumé matches almost every job description and qualifications and I’m still getting denied by AI immediately probably over 500 jobs now in the last 4 to 5 months. Please, if anyone has any advice. I am continuously working on my résumé. I hired a freelancer to make it ATS compliant, so I’m testing that out. However, I’m trying to keep the faith and hope going as much as possible but this is very discouraging time.

48. Penny HagermanFebruary 22,2024 at 5:08PM UTC

    Hi Jennifer, I just wanted to let you know that you are not alone. I have been unemployed for 14 months now and have done all the things you are talking about to help myself get a job and more. I am extremely discouraged and not sure where to go from here. in addition, I am in my early 60s so ageism is real. We have to hold on, even though we want to give up. I will hope and pray that we both get what we deserve soon.

49. Jennifer K. BouletFebruary 22,2024 at 5:27PM UTC

    Absolutely. I’m so sorry you’re going through this but I completely understand. I will be praying for both of us. Thank you for sharing.

50. Julie HagerFebruary 24,2024 at 12:30AM UTC

    Me too....& im a single income household (ME)

    It's pathetic

    Ageism

51. Rosanna Raffaela PizzaFebruary 29,2024 at 7:15AM UTC

    Me too. No fall back or anywhere else to turn to including for health insurance. It sucks.

52. Mary FitzgeraldFebruary 22,2024 at 5:12PM UTC

    Have you seen this https://www.cnn.com/videos/business/2024/02/19/ai-resume-writing-tips-ats-scanner-jobscan-score-chatgpt-orig.cnn

53. Jennifer K. BouletFebruary 22,2024 at 5:28PM UTC

    Thank you so much!

54. Rosanna Raffaela PizzaFebruary 23,2024 at 4:55AM UTC

    Same. I love the responses an hour later "we've carefully reviewed" ... no you haven't at 2 am and within an hour! or the plethora of we've found better qualified;... I have all the basics and then some doing EA for over 20 years for C levels. I find it amazing to believe I don't qualify for any of these to even get an interview. I've worked on my resume so many times I'm sick of it and tired now.

55. Rosanna Raffaela PizzaFebruary 23,2024 at 4:56AM UTC

    PS i've also run it through AI and used tips; used samples from professional resume writers; mimicked the lingo in the posts verbatim.

56. Catherine QueroFebruary 22,2024 at 3:58PM UTC

    I took a 75k pay cut and lowered my title from Manager to IC to be part of a new team and industry. I wasn't happy with the pay cut but I knew I wasn't going to get paid 200k again in this economy and at a lower level. The job has been fun, the culture has been better than my last high paying role, and I get to build with my team from scratch which I enjoy. The money has been okay since I learned to live on my unemployment and my salary is more than that. If you are going to take the pay cut, make sure you're doing it for the right reasons, not just solely desperation. I did it to get into cybersecurity, join a new team with growth potential and be fully remote. Now I get recruiters offering 160-175 and I tell them no because I love being fully remote too much. If you're going to take the paycut, make sure there's something good in it for you. ALSO, you can take the job and keep looking for a new job, you don't owe loyalty to a job.

57. AnonymousFebruary 22,2024 at 4:44PM UTC

    I would suggest that you understand: 1) what is the minimum amount you could live on, 2) what you are looking for in a job (outside of salary), 3) whether the companies you are applying for have opportunity for growth, and 4) what trade-offs you are willing to make. I have heard from many of my more "seasoned" friends that ageism in their job search has made it difficult to find jobs. Sometimes just getting your foot in the door can open up a plethora of opportunities and, thereby, salary growth. I applaud you for having the foresight to build a savings to fall back on, but I'm sure you don't want to fully drain it. In my opinion, if you can survive and still enjoy life, I would take the lower paying job as long as there was opportunity for growth.

58. Amanda MaeFebruary 22,2024 at 5:07PM UTC

    Take the job, it is a life raft for you right now. Try to see where you can trim expenses. Psychologically it is hard to take a pay cut. That said, it is a chance to get back in the game and bring in earnings vs remaining stagnant. Good luck!!

59. AnonymousFebruary 22,2024 at 6:41PM UTC

    I've done two pay cuts and both had very different stories/outcomes...

    1st time -- I was being bullied and NEEDED to get the F out of there, but am also the breadwinner so couldn't just quit. I took ~$20k less to work for a much better company, and honestly, it saved me.

    2nd time -- I took an internal move that was REFUSING to hire a Sr. Manager level... it went all the way up to CMO to approve me to step back to Manager level... pay cut was only $13k, but put me back $30k from my previous highest salary with the "promise" they'd get me back to where I was... well... after 2.5 years I realized it was never going to happen. I did receive annual 5% increases, but that still didn't get me back to where I was or wanted to be. Financially, it was fine. We made it work. But mentally I started feeling taken advantage of and ended up jumping ship from an awesome company when a recruiter came knocking and a new company was willing to jump me a whopping 30% based on past experience.

    So I guess the point here is... will you feel resentment for getting paid less? or will it save you? perspective is everything.

    From what I've read... in this case, it might be a saving grace to just take it... and know that in time you can always make a big leap back to where you want to be if you really sell your experience / level and NOT your current pay to future employers

60. AnonymousFebruary 23,2024 at 5:36AM UTC

    It's easier to get hired when working than when out of work - probably psychological to person hiring

61. AnonymousFebruary 23,2024 at 5:41PM UTC

    Yes, I have been in that situation since 2020. So in Jan. 2022 I took a contractor's position working for my former employer and worked for a year and a half. The salary didn't come close to my previous salaries, but covered my necessary bills. It not only gave me purpose, as I was working every day, but the opportunity to apply for positions during that time . I am still looking for a permanent job, but I am also looking at temporary contract positions as well.

62. AnonymousFebruary 23,2024 at 11:14PM UTC

    As someone who took a (much smaller than you're talking about) pay cut because of the fear of the market and having previously suffered multiple layoffs (like you), I'd say wait it out if you can.
    (I feel like I've regressed to the piddling salary of my 20s for a job that is ultimately making me miserable on top of not compensating me enough).

    I know everyone says it's easier to get a job when you have a job but I have not found that to be the case for me. Having the time and energy to look/apply/interview full time is vital to a successful search, and that's so so hard when you're working 40+ hours per week. I've been working full time and applying aggressively for the past 6 months and have gotten nowhere--except totally burnt out. Meanwhile, when I was last laid off (about a year ago), I had two job offers within 3 months. I wish I held out for one that was a better fit.

63. ppinesFebruary 24,2024 at 12:07AM UTC

    I had been unemployed for 15 months and finally landed a role that paid me less than 50% of my usual wage. I struggled but managed to make ends meet. I stayed for 12 months before finding a better paying role - one that paid me close to what I was being paid previously. Even though it wasn't ideal, like you, I was in my 50s and there were not many options available. I suggest you take the pay cut, at least you won't be burning through your savings and it could lead to better options.

64. AnonymousFebruary 24,2024 at 12:28AM UTC

    Omy goodness

    My salary expectations aren't even the PAY CUT dollars you're talking and I can't make that here... 60yo come summer and I cant find anything to make a decent living. Call me LOSER

65. AnonymousFebruary 29,2024 at 7:11AM UTC

    You are NOT a loser! hang in there please! I'm 56 and I am experiencing crap too: but it's worse because I am disabled and no one wants soimeone who can't walk, lift, travel anymore. The pandemic or something in that time frame ruined me. I am like a 100 year old and I've seen 100 year olds in better condition. hugs

66. AnonymousFebruary 24,2024 at 4:37AM UTC

    You are right. Something is better than nothing. You should take it up and wait for a better opportunity to get back to your pay scale.

67. AnonymousFebruary 24,2024 at 8:00PM UTC

    I feel like every recession that I've been laid off. 2010 was the worst so far. I went into an interview that was paying almost nothing. I began crying during the interview because I felt so low because I need a job but didn't want to be paid so low. I got the job even though I cried. LOL Yes, I worked for a low paying position but I never told anyone how low the job paid. I moved on six or seven month later for a great salary. I gained skills from that job and portfolio pieces. I also made excellent work friends and became a hero for co-workers then never knew their worth.

    1. The point is that you don't have to put it on your resume
    2. You never have to tell a future employer your salary at that job.
    3. If they ask what you were doing between jobs. You can give any number of answers. Training, improvement in your field and so on.
    4. Be creative will you answers. Training is as important or more important then money making to your future employers.
68. AnonymousFebruary 27,2024 at 2:08PM UTC

    Thank you. That was the effect I was going for.