Would you take a pay cut to move forward?

ironman1

Just intetested in your opinions of this. I have veen offered a new job which I think I'll enjoy but it means taken around a 15% pay cut but with the chance of moving up the ladder in future.

I am 27 with a young family and mortgage and am due abbout a 30% rise in my current job if I stay but I have had enough of it. It has only just dawned on me that I could be earning around £200pw than I would be earning if I stay

lemontart

chances and possibilities do not pay the bills but only you can make the decision but if you are unhappy where you are that is something you cannot put a price on

k12479

One problem is that when getting a new job or pay rise, it's frequently linked to what you are already getting paid. So if you take a 15% cut for the new job, it may take a while to get that 15% back, let alone exceed it. Depends, of course, on what opportunities the new job may offer, etc,.

duchy

Depends...........

If it's a new field and the pay is due to lack of experience how easy would it be to return to your present field .........if it turned out to be a grass is greener scenario-However with a family to consider what impact would a wage cut have on your financial security? Is your wife behind you and can you afford a lower wage. It's no good moving to a job you like better if it leads to problems in other areas. What does your wife think ? She knows you and the situation better than any of us after all.

MissSarah1972

15% pay cut and giving up a 30% increase? Hmmmm

It's a lot to give up & as said nothing is ever 100% guaranteed in a new job for promotion or anything

ironman1

Well we both work and would still be able to afford bills and a bit spare. The new job would give me holiday pay and more security. I could also quite easily return to my current job if the new one didnt work out.

gibson123

Yes I would and I have, it's not all about money, it's about being happier in yourself and being able to enjoy your family time. I think you could regret not trying it.

Two4Tuesday

I also have done this. In 1995 I gave up a £15000 salary working for the jobcentre to take an £11000 salary as a trainee software engineer with a small firm. It was the best move I ever made and opened doors to opportunities to further my career and vastly enhance my earnings.

Of course this wont happen for everyone and only you know the ins and outs of your situation.

Whatever you decide, I wish you luck!

Daedalus

In my current situation I personally world move into a field that I would prefer to work and had more earning potential even if I had to take a pay cut. It is a completely personal decision based on your own circumstances.

James1968

OP, you made a comment that you will get holiday pay with the new job should you take it. Do you not get holiday pay at your current job?.