Would you consider a move from a corporate job for a job at a much smaller company + pay cut or just wait for another opportunity?

Would you consider a move from a corporate job for a job at a much smaller company + pay cut or just wait for another opportunity?

My current job: I'm the marketing lead for a division within a large, global media company. In addition to pay being great, benefits are as well, including 401k matching. Also, while I have a hybrid schedule and do need to go into the office a few times a week, it's flexible enough where it's never an issue for me to work from home an extra day, go in late, leave early, etc. I also have a lot of colleagues I like.

Why I'm looking elsewhere: I've been in this role for 3 years and I feel like I've gotten everything out of it I can. While my title is "only" at the manager level, I'm the most senior marketer for the line of business I work on, so there's no where for me to grow in this role. I've felt increasingly bored, burnt out, and I don't feel appreciated. I've been looking both internally within other parts of my current company and external.

Potential external role: Fully remote, better title, and opportunities for lots of face time with media leaders I may not meet otherwise (role involves traveling about once a month for events), but for a much smaller media company; benefits won't be comparable and the hiring manager has said the highest they can likely go with salary would be a $10k ish cut.

The role would heavily involve public speaking, relationship-building, and storytelling (three areas I love and would like to lean into even more), but I'm hesitant to lose the type of benefits I have now and I do feel like I have a great work/life balance now (I know from previous experience at a small company, and from how the hiring manager spoke of the job, that this type of job really becomes three jobs in one).

Thoughts? Also, if you've been in a similar situation, i'd love to hear what you decided to do and if you were ultimately happy with that choice. Thank you!

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5 Comments

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  1. Patricia Osborne Randolph

    The new opportunity sounds exciting! Focus on the present, not the future.

  2. Anonymous

    You say there is a $10,000 pay cut, so you need to weigh all the factors, like benefits, 401K, opportunity for advancement to a more senior role beyond the one you are looking at, and the cost of the hybrid commute vs. fully remote. Also, ask if there are any additional bonuses.

    Having been a "road warrior" before, one thing to consider is to make sure you know their travel policy and how flexible they are with the extra time needed for travel (including comp time for event hours). I worked for a company that required that all travel be done on personal time, unless not logistically possible, so we could not fly between 9 am and 5 pm unless no other schedules were available. This often led to an extra night's hotel stay, sometimes on weekends. How are travel expenses paid, and how quickly can you expect reimbursement? Our expenses were paid in the paycheck after the expense report was approved. Some reimburse expenses in a separate check.

    After you have run the numbers, the biggest question is whether the $10,000 (or adjusted) pay cut fits your budget and lifestyle needs. If you are that unhappy where you are and are excited enough about the new opportunity, this could be a case where size really doesn't matter, but opportunity does.

  3. Anonymous

    Ok look I know you may be a little bored in your job, but right now is not the time to go figure out what is better. Stick to stability. A smaller company may just get dinged too much in this economy. I say stick it out another year and watch the growth of the smaller company (or not). This is not a market to jump to what you think will be better. Stick to what you know, what you have and keep still for a year.

  4. Anonymous

    As another poster commented, definitely figure out where you want to be in the next little while.

    I wanted to comment on the paycut. I took a greater than $10k pay cut, and gave up a pension, better benefits, and every 2nd Friday off, to work remote when I left a government job to go back to private. The job at the City was going back to hybrid but I was incredibly bored, the work-life balance was a bit too predictable and structured, and there was no room for advancement because people don't leave a government job, they retire.

    A maximum of 3x per week in the office, which equates to about 3 hours commute per week, and given 48 weeks in a year (take out PTO), you're looking at about 140 hours spend driving to work. If you make $40/hour, you spent about $5,500 of your 'time' driving to where you can get paid, not being paid for it. If you factor in the cost of gas and vehicle maintenance, that's well over $5000. I also had a young dog at the time and would've also had to pay for doggy daycare (over $6000 for the year during the days I was in office).

    Working remotely afforded me the opportunity to run a load of laundry during the day, eat healthier at home, and spend time with my husband and dog during lunch and breaks.

    I took the chance because I knew I could work 2 years at a management level and leave with so many more doors opening for me, than if I would have if I stayed. Which proved to be true.

    After weighing out the financials and other perks I'd be losing or gaining, I took the opportunity because of my values, personality, and determination. I had a plan and I made a pact with myself to execute it.

    So, I think it's important to be comfortable with a 2-4 year financial outlook, then ask yourself what type of life you imagine in that time, and plan accordingly. Give yourself a time limit if you're only willing to make these "sacrifices" temporarily. If you are concerned about your role and your industry in this economy, then know that "something else will come along, this is not the last chance you'll get, it is just not the right decision for this exact time" and if you are willing to take a chance, but have some fears, then give yourself a 'time limit' to test the waters. You can also continue to casually apply to jobs so that you have an exit strategy in place should you need one.

  5. Alexis Gladstone

    There are so many factors to consider, and only you can make that determination.

    • What is important to you right now? Stability and benefits or career growth?
    • How stable is this smaller company? It's a tough job market right now, as you know.
    • How will the $10K less impact your overall quality of life? I took a $20K job cut to move back closer to my father and close circle of friends after my mother died.
    • What is the new company's increase process? Are there bonuses available?
    • How do you feel about the people you've met through the interview process? You said you like the people you currently work with. That can be very important to many people.
    • Are you ready to take on the workload of the smaller company?

    I'm sure there are other things to think about too. Good luck with your decision.

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