Would you take a pay cut?

WendyK · July 2011

I am currently in a position that I like but I feel as though my career has stalled. I have a graduate degree and would really like to use it. I have a great opportunity to go with a large hospital system, $9,000 less a year but an opportunity for benefits, including healthcare and 401K. I am excited about the job duties, and the possibility of career movement. I would like to hear from other moms and their thoughts. Thanks!

shoeboxx · July 2011

I have not taken a pay cut yet in my career, however, if you think it will benefit you in the long run AND you can afford that much of a paycut...why not? Also, what is the distance...closer or further from home than your current position?

WendyK · July 2011

It is actually same distance, I have been in the work world for 15 years so I probably make more than many people so in the long run $9,000 is not a huge chunk out of my entire salary but it still a significant amount.

Mr.&MrsS · July 2011

If it will make your quality of life better, be better for your career in the long run, and you can afford then...then yes, I would.

I havent taken a pay cut...but I know I could leave my current company and make a lot more money. But I like my company, they have great benefits and they are very flexible with me. Right now the flexibility means more to me than the money. That might change some day, but right now I am willing to settle for less money.

Good luck with your decision.

worleygirl · July 2011

It would depend on the commute. Also, if they match on 401k that can be a great deal.

WendyK · July 2011

I guess I should say I do not have benefits now through my employer, they are not offered. So I am guessing between that and matching 401K it would be possibly a push. Thank you ladies for listening to my ramblings!

shoeboxx · July 2011

WendyK:
It is actually same distance, I have been in the work world for 15 years so I probably make more than many people so in the long run $9,000 is not a huge chunk out of my entire salary but it still a significant amount.

Sounds good. I agree with pp about the benefits ie 401k match. If they are relatively the same...I would go for it.

financialdiva · July 2011

If the new job provided an opportunity for better career advancement, same commute, decent flexibilty/hours, and decent benefits- yes I would take a 9k paycut.

Good luck with your decision!

trinny · July 2011

With the additional benefits, it doesn't sound like it would be a pay cut at all. Is the salary posted? Could you ask for your current salary and see what they say?

WendyK · July 2011

They actually emailed me last night noting that the salary would be less but noting several times that it was just a starting salary. Ok I am not officially excited. Thanks ladies, it so nice to have a community of women that can give good input!

FloF9 · July 2011

Yes if it meant less hours.

duchess0727 · July 2011

In your situation, definitely yes.

jenuine · July 2011

Given all the things you updated with, I'd go for it. See if they can do an evaluation in 6 months for a raise. If it's a big company, you can always get your foot in the door here and move to another position when it becomes available if they don't promote you fast enough. GL!

Sam78 · July 2011

I took a paycut of more than $20,000 to move from private sector to government work. My reasons for doing so were that a) I wanted to work for the government, b) I wasn't happy where I was and wasn't doing the work I wanted to be doing, c) it was a geographical location I wanted to be in and d) the job offered better work conditions (hours, flexibility, etc).

WendyK · July 2011

Sam, situation is very similar to yours except for the geographical issue. I am actually really excited about this possibility!

Lotte134 · July 2011

duchess0727:
In your situation, definitely yes.

Ditto. I took a similar pay cut to come to my current company and it was definitely the right move. There was no room for advancement at the last place and here I have moved to a different department and am now making more than before with plenty of opportunity to learn and grow.

michelcreek · July 2011

Given the circumstances you describe, YES, for sure! Mainly because if you are stalled at your current job you won't be able to maintain it for too long after you reach the point of not being able to stand it - and you'll be unhappy quickly. And to be excitied about a new job and new opportunites is great - I'm sure if you have the ability to move up, so will your pay (and 401k benefits, etc.!).

WendyK · July 2011

Thanks ladies!!! I have a phone interview tomorrow, so we will see how it goes.

ABizzity · July 2011

I took an $8,000/yr pay cut in exchange for wayyyyy better benefits and almost no commute (I am 4 miles from home as opposed to the 30 min commute I previously had). It was the best decision I ever made. The experience I gained in this job is fabulous as well. I wouldnt have achieved this at the other place.

manda26 · July 2011

If I was able to, yes I would.

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