Taking a pay-cut for a better job anyone regretted it?

[T-bagger]

Hey all,

I'll get straight down to it; I'm a bit worried. I've been offered a job working for a company (very large) which involves going in at a lower level than I am curently at.
It will mean moving myself and wife (will rent our house out, then rent a house close to new job) aswell. The job in question has just about endless promotion opportunities that I can acheive if I really work at it. The job I'm in however I've managed to go as high as I can or want to within 6 months of working there - and I'm bored there too.
The pay-cut? well this new job pays around 25% less than I get currently so will mean luxuries (sky TV, nice holidays, dream of a nice car soon, meals out etc) will be sacraficed.
Anyone done a similar and lived to regret it/ best thing they ever did?

I suppose I'm just looking for a bit of reassurance. Thanks guys.

[Chilli]

May I ask how old you are, and what kind of industry the job(s) are in?

[Derby]

Hiya, firstly, good luck, its a hard decision to make (although for me it was a no brainer). Secondly consider job security and dare I say it what will happen to your new job should the st hit the fan (ie redundancy pay, notice etc). Thirdly, you have to consider your long term commitments to the job and more importantly your family. If all these work in your favour and you really are bored with your job with no hope of further promotion or long term progrssion - jump while while you can afford to.

HTH

[arryb]

I'd go for it if I were you, haven't done it myself (being 21 ) but sounds like you're as good as you can get in your current job and need space to fly your wings - how long will it take to rise in the new company to a pay level the same as your current one?

[andyquantum]

I did it when I was younger, couldnt get a job in the sector I wanted, and was offered something new. It looked interesting, but because I had less experience I was at a lower base.

It turned out to be a wrong move for me, I lasted 6 months and couldnt see it getting better in the next 6 so called it a day.

Didnt involve moving or much more commuting, so I wasnt taking on as much as you are. Unless you're really sure what you're getting yourself and your family into, and can afford a few lean months I'd sit as tight as possible for now.

[LotusACBC]

If it helps you, I came to the job I am in now because he opportunity to make more money was so great I had visions of Esprits and freedom dancing in my head. Now I wish I never did. The opprtunities are damn near impossible to follow through, I go 3 weeks sometimes without making a dime and I hate my life...

So hopefully that helped.

[SS HSV]

Depends on a lot of factors, some which shouldnt be answered on here but questions you should ask yourself are:

• Is my current relationship weak?
• Will a cut in salary reduce my wifes budget for shoes
• Will her standard of living go down?
• Will she get bored without the freedom that money provides and look elsewhere?

If the answer to any of the above is 'Yes' then give me her telephone number and I will keep her happy

[trooperiziz]

Don't move on the prospect of promised opportunities that may or may not come to pass, only move for a better offer.

[YZF600R]

Yeah, I did it! Salary approx 20% lower initially, but now matched what I was on before, give or take. If you can afford it, go for it.

[anonymous-user]

I fail to see the correlation between a better job and less money.

[aclivity]

I did it - just over 20% pay cut, but I was moving to a job I would enjoy more.

It was not an easy decision, but I am glad I did it.

nickg_44 said:

I fail to see the correlation between a better job and less money.

Money isn't everything - in fact it's not even close to the top of the list of important things, just google Maslow to see that.

If you can afford to take the drop, and are not happy in your current job, and think the new job will be a better source of satisfaction, do it. If that is not the case, perhaps time to look for another job. Don't stay in a job that makes you unhappy.

Edited by aclivity on Wednesday 8th October 22:17

[matc]

Just over 2 years ago I left a job and moved back down a couple of rungs on the ladder but moved to a better company; I was expecting a slight reduction in money but this wasn't a massive problem for me at the time. I have now just been promoted to a position higher than I previously held but with much better money, so it has worked out very well for me.

At the time it was one of the hardest decisions I've ever had to make, I enjoyed my job at the time, but the opportunity was too good to miss; it's very easy to look at the short term, but you don't want to get 12 months down the line and think 'what if?'. However it didn't involve moving my family, this would have made the decision much harder. I would say go for it as long as you have the support from your family.

[Soft Top]

It wasn't quite the same but 8 years ago I made a similar move.

There was no pay cut but the salary was the same although no bonus scheme and a potentially precarious company where I was on a probationary contract and obviously had no employment rights.

8 years on I am a Director of said company with 4 times the number of staff, 7 times the turnover and making more than 3 times my initial salary.

I highly recommend a slightly dodgy move as long as you are young enough to rebuild if it all goes Pete Tong!

[Andy_sx]

nickg_44 said:

I fail to see the correlation between a better job and less money.

Maybe you cant, but I wouldnt suck st through a straw just because the pay was better!

From my side of the fence I can't say too much, but I was made redundant a month and a half ago, and start my new one next Monday. It on less money (not that much as a percentage) with a slightly longer comute, but the company I am going to have weathered 2 recessions, are growing year on year and my prospects, both short and long term are far far better. Also, i dont have a house or wife (although the OH treats me like were married at times) so although not finachially tied to anything, nor upheaving too much it was a decision made on what the future can hold rather than the hear and now (just needing some cash in)

From my POV (which maybe doesnt count for much) if you and your OH feel that it is for the best, and you can be as certain as possible the prospects and longevity in the job are there, I would go for it.

[davido140]

trooperiziz said:

Don't move on the prospect of promised opportunities that may or may not come to pass, only move for a better offer.

+1 I moved and took a 60% pay cut about 5 years ago for a job that should have had lots of potential.

Went nowhere, and the company went bust 3-4 months later.

Worked out ok in the end, I had been there just long enough to build a bit of a relationship with a few clients so myself and another guy nicked them and setup shop on our own.

Wouldnt advocate it at all unless its a complete change of career with GUARANTEED prospects (for example guaranteed pay rise on completion of training, set out in the contract etc.)

[drivin_me_nuts]

nickg_44 said:

I fail to see the correlation between a better job and less money.

Depends upon the person and what you/they mean by better. Better money is not always better job, in fact at times it can mean quite the opposite.

[OlberJ]

I gave up a well paid job in my home city of Glasgow to move to little old county durham for a job as a mechanic.

Best thing i've ever done with my life. Go for it.

[anonymous-user]

aclivity said:

I did it - just over 20% pay cut, but I was moving to a job I would enjoy more.

It was not an easy decision, but I am glad I did it.

nickg_44 said:

I fail to see the correlation between a better job and less money.

Money isn't everything - in fact it's not even close to the top of the list of important things, just google Maslow to see that.

If you can afford to take the drop, and are not happy in your current job, and think the new job will be a better source of satisfaction, do it. If that is not the case, perhaps time to look for another job. Don't stay in a job that makes you unhappy.

Edited by aclivity on Wednesday 8th October 22:17

I don't need to "google maslow" to know that his theory is fatally flawed when referring to this Century. The idea behind fulfilling his basic needs is rubbish. Everybody living today should have at least the first three on his hierarchy and if they don't they are very unfortunate.

Basically, you should earn as much money as you can, and make sure that your time is yours. I suppose though, it depends on your life status. But if your idea of a better life is getting rid of "sky TV, nice holidays, dream of a nice car soon, meals out etc" then I question your ambition.

Edited by nickg_44 on Wednesday 8th October 23:29

Edited by nickg_44 on Wednesday 8th October 23:30

[cymtriks]

nickg_44 said:

aclivity said:

I did it - just over 20% pay cut, but I was moving to a job I would enjoy more.

It was not an easy decision, but I am glad I did it.

nickg_44 said:

I fail to see the correlation between a better job and less money.

Money isn't everything - in fact it's not even close to the top of the list of important things, just google Maslow to see that.

If you can afford to take the drop, and are not happy in your current job, and think the new job will be a better source of satisfaction, do it. If that is not the case, perhaps time to look for another job. Don't stay in a job that makes you unhappy.

Edited by aclivity on Wednesday 8th October 22:17

I don't need to "google maslow" to know that his theory is fatally flawed when referring to this Century. The idea behind fulfilling his basic needs is rubbish. Everybody living today should have at least the first three on his hierarchy and if they don't they are very unfortunate.

Basically, you should earn as much money as you can, and make sure that your time is yours. I suppose though, it depends on your life status. But if your idea of a better life is getting rid of "sky TV, nice holidays, dream of a nice car soon, meals out etc" then I question your ambition.

Maslow looks like a perfectly reasonable concept to me. Why on Earth would you say it is fataly flawed?
Just because we take something for granted doesn't mean we have any right to keep getting it or that people won't think it's important if they ever stop to think about it.

You also seem to be missing the rather obvious link between most items on his list and money.

If you are content to live in an a bus parked in a layby then fine.
If you inherit loads of money then fine.
If your ambiyions extend to no more than a night in the pub once a week and sitting at home watching telly then fine.

Otherwise you're going to need money.

Personally I cannot imagine how earning less money would ever make me happier unless an expense such as commuting or the cost of living after moving to the new job was massively reduced to compensate.

[anonymous-user]

cymtriks said:

nickg_44 said:

aclivity said:

I did it - just over 20% pay cut, but I was moving to a job I would enjoy more.

It was not an easy decision, but I am glad I did it.

nickg_44 said:

I fail to see the correlation between a better job and less money.

Money isn't everything - in fact it's not even close to the top of the list of important things, just google Maslow to see that.

If you can afford to take the drop, and are not happy in your current job, and think the new job will be a better source of satisfaction, do it. If that is not the case, perhaps time to look for another job. Don't stay in a job that makes you unhappy.

Edited by aclivity on Wednesday 8th October 22:17

I don't need to "google maslow" to know that his theory is fatally flawed when referring to this Century. The idea behind fulfilling his basic needs is rubbish. Everybody living today should have at least the first three on his hierarchy and if they don't they are very unfortunate.

Basically, you should earn as much money as you can, and make sure that your time is yours. I suppose though, it depends on your life status. But if your idea of a better life is getting rid of "sky TV, nice holidays, dream of a nice car soon, meals out etc" then I question your ambition.

Maslow looks like a perfectly reasonable concept to me. Why on Earth would you say it is fataly flawed?
Just because we take something for granted doesn't mean we have any right to keep getting it or that people won't think it's important if they ever stop to think about it.

You also seem to be missing the rather obvious link between most items on his list and money.

If you are content to live in an a bus parked in a layby then fine.
If you inherit loads of money then fine.
If your ambiyions extend to no more than a night in the pub once a week and sitting at home watching telly then fine.

Otherwise you're going to need money.

Personally I cannot imagine how earning less money would ever make me happier unless an expense such as commuting or the cost of living after moving to the new job was massively reduced to compensate.

Maslow is flawed in this day and age because you don't need to struggle to have fulfilled the first section of the hierarchy. i.e. everyone these days has easy access to the first three levels of his model. At times, yes, it may be difficult to say this is true e.g. if you have an argument with family this might affect your sense of belonging. Therefore, nowadays, you should only have to try to reach the upper levels of the model. So, if taking a pay cut helps you reach these "higher levels" then do it, but in T-baggers original text he quoted the things he was giving up, making me think that this proposed paycut was a bad idea.

The Maslow theory is always thought of as rather dry anyway because most of us are trying for all 5 things at once not taking it step by step. I seem to remember from university

Not sure i've made sense...