Tuesday, March 29, 2011

Semi-serious question

And your feedback or insights are really and truly appreciated!

Has anyone had experience (or someone you know perhaps) with taking a pay cut to switch jobs? I'd just be interested in the pros/cons (well other then "con" of making less money, of course) to the situation and maybe how you/they felt about the decision six months later. Heck, six years later even.

Before anyone goes getting excited, this is not anything in my very immediate future, but something I think I may need to start seriously considering.


  1. Well, I only have about 6 weeks of "feeling" about my decision. And so far, I have no regrets in leaving my $20/hr job, my 401K, benefits, or the security. I was far too stressed out all the time - I had a knot the size of Texas in my right shoulder that (literally) would make popping noises. I lived paycheck to paycheck and simply wasn't happy.

    I'm learning my grandparents operations (ranch and publication), and while it can be a bit stressful dealing with the old folks, it's nothing compared to what I used to suffer. It was a big decision, but if you're not happy, then it's not worth it. What matters is your happiness and health.

  2. I just did this actually, though it has only been in effect since January. I loved my old job, but the hours and the stress(both sky high) were getting to me, plus there was no real growth opportunities anymore. I am very happy with my decision, my current position and my former are both in higher education, but comparing the 2 is like comparing apples + oranges. That said, a # of friends have remarked how much calmer I am and how happy I seem. My free time has increased too! It is a tough call to make and not one I expected to do.

  3. I did, but not by choice. My former company closed our office and I took another job for a significant pay cut during the downward economy.

    It's been a year and half and I'm back to where I was, but, again, I was willing to take a lower paying job at the time than have no job. It's not like I left my industry to pursue a passion in say, baking cupcakes.

    You have to really look at your situation and decide what you are comfortable doing? Will you have other benefits in terms of less stress, doing something you love vs. just changing jobs, benefits, etc? And also determine how comfortable you are if you have to make a lifestyle change. Best of luck to you!

  4. I left the super stressful tv news industry for the same pay but no benefits and everything fell into place.
    I'm a huge networker though and would tell everyone I saw and knew that I was looking for opportunities.
    Good Luck in your decision.

  5. Thanks for the helpful insights, ladies! No decision to be made just yet, but as I am trying to make some important life changes, this may have to be a factor.

  6. I think this is a "it depends" situation. My sister decided against a pay cut to move to a job she wanted more because it was also further away (but not too far to move--just a longer commute) and she didn't want to start at the bottom of the ladder again. (She's a nurse.)

    I, on the other hand, do believe if I would truly be happier, I could handle making less money. Especially if the job could lead to bigger and better things.

    Lots to think about -- good luck!

  7. Lots to think about! Good advice, too. I think you are wise to ask opinions! Hope it all works out to your advantage.

  8. I've done it - I left a big corporate job to go work for a much smaller company in a completely different industry. It's been over two years and there was definitely an adjustment period but I'm so much happier. Good luck with your decision.

  9. I have done it! I was working as a bank teller ten minutes from my home. I made pretty good money and had benefits. But, it wasn't in my field. I wanted to get a position as a Paralegal and didn't have the experience I needed.

    I was offered a job as a Paralegal at a new firm, about 45 minutes from my house. The attorney was young and just starting out. He offered me the job with no benefits and a HUGE cut in pay. I thought long and hard, and figured in the long run it would benefit me.

    I worked for him for almost two years. He gave me a $1.00 raise the entire time I was there. But, he helped me get the "real" job I have now. He also became a very close friend of mine in those two years. I don't regret the decision even for a second. It was by far, the best decision I have ever made in my life. And, because of those two years with him, I was able to gain the experience that got me the great job I have today.

    Good luck!

  10. I once took a smallish paycut, (about 8k, which worked out to like $300/month after DC's insanely high taxes) and it was an OK decision. Financially, I was able to make it work, and it was a good stepping stone to my next job. Good luck with whatever you choose!

  11. Well, I'm a bit late...but yes, I did this. About a $10K paycut. I was nervous about how it would affect my immediate lifestyle, but I was so much happier I ended up not caring at all :)

    And then, it led me to the next step. Now I make more than I ever have. And I truly believe that had I not given my mind and body a break from the stress I wouldn't be where I am today! (not that i'm not irritated with my job at the moment...but overall..)