Is a pay cut worth a new job?

WidgetP

Hello.

I am currently employed however I am now looking to move on and progress my career. I have found a company that I would like to 'climb the ladder' in. But it would mean a 4K pay cut and a step down in my position. It is a trainee position and was advertised to graduates, I graduated 4 years ago.

What are people's thoughts on taking a pay cut to pursue a career? Has anyone done it and never looked back? Or vice versa and wish they never had?

Thanks for your thoughts!

R

Quenastoise

I would take a pay cut if I was moving into a new direction where I have no previous experience but was keen on.

Are you sure that you cannot progress with your current employer ? Have you spoken with your boss ? How about a transfer to another department/location ?

pjread

Funnily enough I was looking at a job apparently paying 5k less than mine (max according to the advert...) earlier and contemplating it.

I guess obvious questions to ask yourself include;
* Would the loss of income seriously affect you
* Does anything else offset it (better leave entitlement, shorter or cheaper commute?)

Lastly I guess 4k off 14k is probably a more major issue than 4k off 54k, so it's difficult on the info you give to see if that is a big drop.

For the record, yes I did something not entirely dissimilar to move fields a number of years ago. it was about a 10% drop on my salary at the time IIRC. But then I made that up within about 6 months. Possibly not the best time to expect rapid progression, but you don't sign up for a given salary for life...

I suppose another point is how happy are you doing what you're currently doing, are you just considering this on a whim or have you already checked out of your current field & are just turning up now to eek out the days until the weekend? if it's the latter perhaps jump before you lose the will to live!

SammyS1987

The first question you should probably ask yourself is can you afford a 4k drop in earnings? If you can and the new job is going to make you happier take it! I'd much rather be in a job I enjoyed and went home feeling happy everyday than a job that payed me 4k more but I was constantly depressed.

DCFC79

If i was offered a job with less pay than what i currently get i would only take it if it was closer to home eg 15 minutes away rather than 30 minutes away

Gettingtherequickly

It will all depend on the job. I was made redundant and when I finally secured a new job, it was £5.5k less than I was earning. However, 4 years on, I am more or less back to my last salary, but more importantly, am not working anything like the hours I used to (did a minimum of 50 a week to keep on top of my workload and ensure that my department were kept occupied) and I know that if I really pushed myself, I could reduce the time I work and work part time.

Go with your instinct.

BexInLondon

Gettingtherequickly wrote: »

It will all depend on the job. I was made redundant and when I finally secured a new job, it was £5.5k less than I was earning. However, 4 years on, I am more or less back to my last salary, but more importantly, am not working anything like the hours I used to (did a minimum of 50 a week to keep on top of my workload and ensure that my department were kept occupied) and I know that if I really pushed myself, I could reduce the time I work and work part time.

Go with your instinct.

I had a really similar experience - took a pay cut to change sector, found my hours were much better, as was the commute, and about a year and a half later I'm not quite on what I was on, but almost. I definitely had some moments where I regretted the cut, like when I used to meet up with my old colleagues and they were throwing money around, but then I realised that there is a reason they often cancel social engagements because of work, and they are always tired, stressed and drained.

My main concern in these times would be job security rather than pay though!