The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: ichangedmyname on March 29, 2014, 12:24:01 AM
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Apparently to me it is a pay cut of at least $8k/yr. But I get to be in a semi-leadership position with potential for a promotion and career growth. Also being off the phones and not dealing with customers for 8 hours a day. I think it will be worth it. Also I can do unlimited OT.
You?
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I have always had an open mind with the philosophy of having to 'take one step back to take two steps forward.' However, I will think very creatively and explore every possible solution before making that 'step back'.
When I switched jobs because of the lack of career development, even tough it was for more money, I worked longer hours and had a longer commute. But it did open up doors and I gained good experience.
Then when I got married, we moved across the country and I took some time-off. I ended up taking a pay cut at my next job at a new city with a higher cost of living. That however was offset with a lower commute time and higher quality of life for me.
A year after that we had kids and I wanted to work less hours and have flexible hours. I found a place that paid more, less hours required, and very flexible hours. I was able to do this because I was lucky enough to have options to choose jobs not purely for monetary considerations.
In your situation, just because you take an initial pay cut, it will be temporary if you really apply yourself and gain new skills. The only thing that would worry me in your situation is your description of 'semi-leadership position' and 'potential' for career growth. Before taking the position I would be very upfront with them about your expectations and have them validate it. Nothing worse that leaving your current job for a job that does not meet your expectations with a pay cut.
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Just make sure the pay cut and career advancement are both worth it, compared to a shortened ER timeline.
DW has been with the same company for 8 years now, but she's been in 5 different positions. Each one has been a pay bump and a move to something with more rungs on the ladder above.
I'd question that you can't find a job that pays more AND has more advancement. Remember that the singe best time to negotiate compensation is switching jobs and/or employers.
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Apparently to me it is a pay cut of at least $8k/yr. But I get to be in a semi-leadership position with potential for a promotion and career growth. Also being off the phones and not dealing with customers for 8 hours a day. I think it will be worth it. Also I can do unlimited OT.
You?
$0
I like my career as is. I have enough, and want no more (other than my standard time-served promotions as I get to them, but I don't consider them really career development and shouldn't have to do anything else than what I'm currently doing to get them).
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Just make sure the pay cut and career advancement are both worth it, compared to a shortened ER timeline.
DW has been with the same company for 8 years now, but she's been in 5 different positions. Each one has been a pay bump and a move to something with more rungs on the ladder above.
I'd question that you can't find a job that pays more AND has more advancement. Remember that the singe best time to negotiate compensation is switching jobs and/or employers.
Very good tips here.
I have two former bosses with different outlooks. One has only once or twice taken a step back, and nothing good has come of it.
The other has very often taken a step back (less money, less responsibility, more upside). He told me that he's never regretted it and is always quickly promoted. Example: from VP of one startup to engineering manager at a new one...then very soon VP at the new one.
It is interesting as I navigate my own career. I have to say that I've taken a step back once, and kind of regretted it short term. I guess for me it depends on the job. If I change companies (I'm looking), I am NOT willing to take a pay cut for particular companies (large ones) but would consider it for certain other opportunities.
It's a MUCH tougher decision for me, being female. My boss has NEVER been pigeonholed or paid less for being female. So he doesn't understand my reluctance to cut my already-lower-than-many-of-my-less-experienced-male-coworkers pay.
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I took a huge step down and a 10k pay cut just for the chance of doing something different. It is happening to work out, but I also hated my previous direction so the decision wasn't super tough.
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I took a huge step down and a 10k pay cut just for the chance of doing something different. It is happening to work out, but I also hated my previous direction so the decision wasn't super tough.
I think this is where I'm at. I am still waiting for a 2nd interview and the offer to find out exactly how much it'll be. The main cut is the commission because right now I am at 12/hr but my commission is almost an extra paycheck a month. The new job would have a higher per hour but no commission.
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I think this is where I'm at. I am still waiting for a 2nd interview and the offer to find out exactly how much it'll be. The main cut is the commission because right now I am at 12/hr but my commission is almost an extra paycheck a month. The new job would have a higher per hour but no commission.
If you hate what you are doing now, I think any amount is worth it. Either you get really specialized at something you hate (Which to me is like being really good at hitting yourself in the face with a hammer. Who wants to be good at that?), or you try something new and learn something in the process - either a development of a new skill set or an awareness of how to leverage old skills into a new path, or both.
I went through an arduous, 8 year process of job-hating until very recently getting an offer to move into a predictive analytics role (wait a second, math is fun and this is a job? Yes please), but I got the role because this team has a huge knowledge gap and I could fill it with 8 years of varied experiences. So it ended up nice, and the long term income potential is significantly higher. Plus I actually like the work, which is a new thing for me. Fortunately the wife makes good money too so I didn't need to count pennies to make the move, I think the support system plays a big part.
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I got the job. :D $15/hr with a quarterly bonus of up to 5% of whatever you've earned during that quarter based on the company's stock performance and an annual review raise based on the call center's performance. And of course the opportunity to advance to something higher.
I did a little spreadsheet and I'd have to work 15 hours of OT a week to get as much as I'm earning now. But once my husband finds a job and gets his own healthcare I can lessen that. For now though I'll definitely try to budget $1000/month for all expenses which will be another challenge in itself.
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Not a penny. I have an easy, fun job at a great company that pays me enough to retire in another 9 years. Add stress to my life or take a pay cut? Forget it. My whole goal is to not have a career, after all.
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Not a penny. I have an easy, fun job at a great company that pays me enough to retire in another 9 years. Add stress to my life or take a pay cut? Forget it. My whole goal is to not have a career, after all.
Sounds fun. Where do you work? LOL
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Not a penny. I have an easy, fun job at a great company that pays me enough to retire in another 9 years. Add stress to my life or take a pay cut? Forget it. My whole goal is to not have a career, after all.
Sounds fun. Where do you work? LOL
I'm a hospitality clerk at a large law firm! This onion article describes what I do pretty well, except I make more money and have benefits. http://www.theonion.com/articles/temp-hides-fun-fulfilling-life-from-rest-of-office,49/
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Not a penny. I have an easy, fun job at a great company that pays me enough to retire in another 9 years. Add stress to my life or take a pay cut? Forget it. My whole goal is to not have a career, after all.
Sounds fun. Where do you work? LOL
I'm a hospitality clerk at a large law firm! This onion article describes what I do pretty well, except I make more money and have benefits. http://www.theonion.com/articles/temp-hides-fun-fulfilling-life-from-rest-of-office,49/
Wow. that's awesome. I'm gonna look that up now.