10 Times You Should Take a Pay Cut

We’d all love to have constant upward climb in pay, but it doesn’t always happen. There are sometimes when you should hold out for a raise, but there are sometimes when taking a pay cut makes sense. While more money seems like the best thing, it’s not always feasible. Here are 10 times you should be willing to accept a pay cut. (Of course, if someone wants to offer you more money, take it!)

1. You’re changing careers.

Sometimes you can move seamlessly from one career to the next without taking a cut in pay, but often you can’t move from one career to another at the same level. If you want to change from accounting to marketing, you’ll probably have to go in at a lower level, and a lower rate of pay will come into that.

2. You find your current work too difficult or fast paced.

Do you go home exhausted? Are you constantly working at the edge of your ability? Is your stress level affecting your health and relationships? It may be time to find a new job that doesn’t have the same level of demands. A job with fewer demands will likely pay less. It’s a trade-off, but often worth it.

To keep reading, click here: 10 Times You Should Take a Pay Cut

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10 thoughts on “10 Times You Should Take a Pay Cut

  1. I realize industry norms are to offer less money in conjunction with flexibility and part-time hours, as well as when working for a non profit. I’m interested in your take for the argument that an employee brings experience, talent, and skills to each job and the number of hours or profit status of an organization doesn’t cause the employee to have less experience, less talent, or fewer skills. In fact, the employee usually takes a hit in pay with these types of jobs because opportunities to advance often are fewer, too; resulting in double jeopardy.

    1. True. But, keep in mind that companies aren’t interested in advancing your career–they are interested in making their business profitable. Part time professional jobs are hard to find in the US, so people who want them are willing to take them at a reduced rate.

      Frankly, I think companies are missing out as there are tons of people (mostly opt out moms) who would bring great benefits to companies as part time professionals.

    1. I took a $10,000 pay cut to come to my current job and now I make $8000 more than I made at that previous job a year later so it isn’t that a illogical. I think that once you hit around 60 or 70,000 it’s not always clear cut that you’re going to get a raise to go to the next job

    2. I had a 70k job that kept me away from home 10 months a year and my days were very long, and never my own. My health deteriorated. Now I work elsewhere for a little bit less, but my stress levels are way down. Putting my health first does not make me a moron. Sorry.

  2. While I do agree, there’s a part of me that also agrees with bob in that I would never willingly want to take a pay cut. There are exception of course such as a new career or reducing your hours but if a job is too demanding I wouldn’t be looking elsewhere for a pay cut 🙂

  3. In ’99 I took about a 15% cut when I moved from Operations Supervisor to HR. It took a few years to catch up but I never regretted that decision.

    Financially it stung, professionally it was the best move.

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