While taking a cut in salary may seem like the cruelest cut of all, it just might make sense to you as you navigate through this challenging economic time.
We say, give yourself permission to consider the following possible benefits to that lower paying role:
Greater Work Life Balance
Maybe, your last job burned you out with that 24/7 schedule where you actually slept with your BlackBerry; however, the new job would allow you to work the regular 9 to 5 and leave your desktop computer at work!
Maybe you will not have to travel as much. Consider that while in the last job where you earned frequent flier miles the hard way (by traveling each and every one of them) and finally did achieve that complimentary trip to Europe, with the new, lower paying job, you have greater flexibility in your schedule. You can take that noon Zumba dance class at the local YMCA, shower, and return to work and drive home during rush hour.
Need Gap Coverage for the Resume
We all understand that employers prefer to hire a working person versus one who is unemployed, so, that lower paying job gets you back into the job market. You can always stay in the job for a year or two until the economy heats up allowing you to calculate that move to get your salary back up.
Compensation is More Than Money When You add it up
It could be that the new job is in a lower cost of living area. Consider the financial impact of a move from that Manhattan apartment to the single family home with the yard in Arkansas.
The benefit package, or total compensation package of tangible benefits like health insurance, 401(k) matches, pension possibilities, paid time off, or even company perks like that new car with insurance and gas can help you address the sting to the loss in salary.
Need to Change Industries or Jobs
It could be that you have spent the last 15 years working in finance as a senior analyst and you want to become a cartoonist, because, after all, you did go to school for that and it is truly your passion.
Maybe your last job was a big fish in marketing with a small business and the new job is a marketer with Google or IBM. It just might be good for you to take the cut so that you get the Fortune 500 stamp on your resume.
These are just a few reasons why a person might decide to take a pay cut. Again, while we know that the thought of a lower number on the paycheck can be one charged with emotion; there are several valuable reasons to consider that lower paying job for you right now. … Go ahead; give yourself permission to consider the possibilities.
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