I received an offer that is lower than current salary by $18k but it’s an EXCELLENT COMPANY

22 Comments

1. AnonymousJune 15,2022 at 12:58PM UTC

   No, don’t do it. You may regret it in the long term. However, it there is an opportunity to have a performance review at month 6 in your new position, then you could ask for a raise/promotion. Again, for your entire career at the new company you would not financially progress. It’s a tough spot to be in.

2. Karen LordJune 15,2022 at 12:59PM UTC

   I would always consider a pay cut IF other variables that were important to me would be met. Is there opportunity for faster progression, does the company better align with my personal ideals, do I get to work with a fantastic group of people, does the role give me the opportunity to develop skills I want to etc.

3. AnonymousJune 15,2022 at 1:03PM UTC

   It depends on your goals.

   If longevity and a great environment are most important then this is a fit.

   It compensation and life style are more important then this would not meet those goals.

   My career momentum is much more important to me. It will take your many years to make up $20K and I have found that if a company keeps salaries low they also keep opportunities very low.

4. AnonymousJune 16,2022 at 6:16PM UTC

   Something else to keep in mind is some companies go by what you're currently making or job title instead of past positions. Case in point, I accepted an interim job during the pandemic and accepted a lower salary and title as I needed a regular paycheck while companies were furloughing.

   While I'm grateful that I had that salary, I'm finding it difficult to make the leap from a previous position to the salary and title I want for a career move due to my current role.

   Keep in mind that when you start or are preparing to that everything is exciting and new. That gloss fades and then you're left with reality. Even those 'perfect' roles can have problems due to leadership, advancement opportunities, team and company culture. You don't want to impact your finances when you don't know the full story before working there. Good luck!

5. AnonymousJune 15,2022 at 1:09PM UTC

   Not without trying to negotiate a better deal for myself first.

6. AnonymousJune 15,2022 at 1:19PM UTC

   I would consider the whole package - benefits, bonus, development opportunities. If you are at the top of your growth potential at your current company, then taking a new role at a company with more lateral and upward mobility might be a good move. One thing I will caution - many companies have a great "reputation" until you get into the company and then you realize that it's a real junior high drama scene. You should ask yourself - "what does this new company reward?" The phrase "follow the money" always applies - how the company compensates and promotes will give you a clue as to the "culture". Good luck on your decision!

7. Deb HornerJune 15,2022 at 2:59PM UTC

   If they aren't willing to meet your current salary, then what can they give you to make up for that? Can they offer you 100% matching on the company 401K? Can they give you an additional 2 weeks of vacation immediately, adding to the two you should automatically receive? What is the co-pay on health insurance? Will they pick that up until you regain your level of income? Women tend to think of salary as the income, without considering the perks that go with certain jobs. For instance, I once took a job that didn't pay very well, but you were allowed to eat all your meals on the company dime as long as you were there at mealtime. Some of the food wasn't very good, and some of it was restaurant quality. I didn't make a lot of money, and I got zero respect, but I didn't have to buy groceries except for my days off. It was a benefit that worked until the disrespect broke my BS meter. Best wishes.

8. AnonymousJune 15,2022 at 3:57PM UTC

   Consider the big picture:

   Is it a company where you see a long-term career?

   Does getting in at a lower salary level ensure advancement?

   Are you relying on what was conveyed during the interview to formulate your impression or has sites like Glassdoor and Indeed confirmed your assessment?

   Are you putting yourself in a financial situation by decreasing your annual by almost 20K?

   Something to keep in mind, I've worked for Fortune 500 companies and there's a reason people often accept an offer and only stay a short time to have the name recognition on their resume.

   While those companies offer perks, a lot of people including myself look for long-term options that include work-life balance and having more control over their career. Ask yourself what do you want and where you want your career to take you?

   That being said I wish you all the best and congratulations regarding your offer. You're in the driver's seat and have control regarding your direction!

9. AnonymousJune 15,2022 at 10:27PM UTC

   What does a great company really mean?

   A company can be considered great to its customers but pitiful to its employees

   If you can identify 5-7 top things that are most important to you in a work environment and they so far hit on those elements it is a good indicator. But I hope you spent the time interviewing the interview panel, see if you can sit down with an employee in an identical role to gauge what their day to day is like. Do a walk around to gauge the people in the environment who will perform the same function. Do they look happy, stressed, bored, angry?

   I ask these questions bc there are plenty of times when people interview for jobs and some managers, HR, hiring panels are very good sales people. They pitch a good game. Sometimes a person does not know what they are really walking themselves into until they are 2-4 months into their role. So I would suggest conducting the above and make sure you vet the company as recommended. Those first impressions can be very deceptive sometimes. And if you are going to take a 20k pay cut, it should be for a great company that fits your needs and adds to your work/life/balance.

10. AnonymousJune 16,2022 at 1:24PM UTC

    Great post, I agree!!!

11. JJJune 16,2022 at 2:47AM UTC

    Maybe. But I would have to know it was awesome from the inside, verses from the outside.

12. AnonymousJune 16,2022 at 3:32AM UTC

    I would never take a position and settle for less money than what I am currently making but that is just me.
    Plus, you don't know how amazing this company is until you actually work there and see for yourself. In someone else's eyes it may be perfect, but that doesn't necessarily mean your experience with your position will be the same. No company or position is going to be perfect. Plus, even with raises it may take years to get yourself back up to what you are making now. I would try to negotiate with them and see if you could get a higher salary to equal what you are making now or some type of major major incentive to make it worthwhile.

13. Emily R ZeckJune 16,2022 at 11:03AM UTC

    No! Why? Because it’s a job seekers market right now

14. AnonymousJune 16,2022 at 12:44PM UTC

    Can't be too excellent of a company if they aren't going ot pay you what you're worth.

15. Paulla Fetzek, MSEdJune 16,2022 at 1:09PM UTC

    Hello!

    Yes - yes I would. In all honesty though, I don't know if I could take that large a pay cut. I say this as someone who's considering a huge career shift in the next two years - with the strong possibility of taking a 10K - 15K pay cut myself.

    I respectfully disagree with people who say the company can't be very good if they can't pay what you'd like. There are many awesome companies out there who simply cannot pay "top dollar".

    And that's what it comes down to. There are many companies who pay their employees well - but are mediocre at best to work for. What do you value more? Pay - or a fulfilling career?

    I wish you the best - whatever your decision!

16. AnonymousJune 16,2022 at 1:22PM UTC

    No. With inflation at 9% your salary is reduced by more than 18k.

    ”excellent company” is just good marketing. Every company will have people dynamics and challenges. In navigating all those situations expertly, I expect to be paid market value.

17. AnonymousJune 16,2022 at 9:22PM UTC

    Probably not, but it depends on what you mean by an excellent company. Do they offer better benefits, more flexibility, etc.. Those things might be worth it to you. But generally, I wouldn't take a pay cut that large. I wouldn't even go lateral.

18. Shanita Taylor BSIS, BSc (Psyc), M.A.E.LJune 16,2022 at 9:40PM UTC

    Do what's best for you. Although in this economy, unless you are rich enough not to be affected by inflation or have a great deal of savings, it may not be wise to take a pay cut. Also, you can negotiate salary based on current/previous salary.

19. AnonymousJune 17,2022 at 1:04AM UTC

    No because great companies pay really well. They don't hold people back.

20. AnonymousJune 17,2022 at 5:29AM UTC

    I’ve taken a 50% pay cut to change career paths completely roughly 5 years and it’s paid off for me. But I also was a single female with minimal expenses. So it worked with my lifestyle.

    This is an intensely personal decision that strangers on the internet can’t help you with … but if it helps - my friends and I do pro/con lists when faced with these kinds of decisions to see every thing in writing. And it’s helped us make our final decision.

21. AyianJune 17,2022 at 1:03PM UTC

    Conditionally, yes. The condition would be that they promote me or provide a raise within 6 months and have that in writing before accepting their offer. If in 6 months, that does not occur, I would look for a better company. Startups are great and all, but that's the only reason I could see a company not being able and willing to pay a competitive salary and still be a "great" company.

22. LeslieSeptember 16,2022 at 12:43PM UTC

    I took an almost 50% pay cut at one point in my career. It was an opportunity to be part of a startup where I would interact with investors as part of the management team and then build the Marketing organization. At that time in my career, gaining new experiences and skills was a more powerful compensation than money.