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Career Advancement with Significant Paycut
How many of you have or would take a career advancement in your desired industry knowing you'd be taking a significant pay cut (at least 40-50% of your current pay).
I'm experiencing this now but it has been difficult to even survive due to cost of living and normal everyday expenses. There was no salary negotiation and the company does not plan to increase to market value anytime soon. They value other benefits, e.g. complimentary lunch, parking, as extra compensation.
Do you still see this as an opportunity or would you pass and wait for the next job?
Francesca Vanderwall
610
07/19/19 at 4:12PM UTC
Based on what you describe, I would NOT take that position. I don't think it will be as good of a future leverage point. And unless the cost of living in your desired location is significantly lower than at present, I think you'll come out worse than you are now.
I recently changed careers and took a 30% pay cut as my family's primary breadwinner. Eventually I'll be better compensated AND have better schedule flexibility, but I'll have to work for it. There's light at the end of my tunnel, which is why I made my choice.
Maggie BBusiness and Data Analysis Consultant
983
07/17/19 at 5:19PM UTC
Yikes, yeah, I don't think I'd consider that. Chances are, if they're willing to under-pay, there's someone out there who will pay market value and make that a competitive role for you.
Anonymous
07/11/19 at 5:50PM UTC
Ruzana, I really like your (para)phrase 'I will not accept a position that pushes my financial health a step back.' It's fact based, clear and respectful of both you and the company.
Ruzana GlaeserCo-founder of brightmeetsbrave.com
950
07/10/19 at 6:04PM UTC
Advancement in job title and responsibilities should come with a pay bump! Period. Unless you are under-qualified candidate.
In the last job I have interviewed (and accepted) I stated point blank that I was not interested in accepting the position if it meant a step back for my financial health. It's hard to argue that argument. If the company is not paying on par to market value - pass it, it's not worth it. Complimentary lunches, bus passes etc - should be perks, not compensating for low pay, the company is just being cheap with their talent.
You want to be where your talents are valued for what they are, you deserve that! Don't settle. You have to look out for yourself first.
Anonymous
07/10/19 at 7AM UTC
At bottom, we work to be paid so that we can live the lives we want. If it is already 'difficult to survive,' why would you voluntarily make it harder? The so-called extra benefits don't have the value you need, no matter how the company values them. You haven't convinced me that there is real opportunity for you here -which probably means you know the answer already. Be brave, value yourself, and look for a role with a company that values you too.
Anonymous
07/11/19 at 5:22PM UTC
It weighed on me a lot but 1) the experience on my resume will help get me in other places and 2) got me back to the city I wanted to be in. I was also told an increase in pay would be possible within 6 months, but it turned out this was a very small percentage vs. getting back to market value. Agree with what you said that and further charges me to move on.
© 2022 Fairygodboss. All rights reserved.