Employment Accepting a job offer for less pay

[lil big man]

Hoping for a bit of advice...

I started looking into new employment opportunities at the start of the year as i feel like i need a change of scenery and have had a couple of interviews for jobs but not in my current area of expertise.

I have being offered a lesser role that will pay significantly less then I currently earn. Same industry just with a larger market leading organisation with far greater future opportunities.

The pay cut would significantly affect me and my family (single income). We have done our budgets and we would get by month to month, things would just be tight.

Any advice?

 

[Tasmaniac]

Always some risk involved. I assume you hope/believe that by moving to this larger organisation you will have increased chances of promotion and higher income in the future?

Do you like/hate your current work environment? (there's a chance the new work environmanet may be significantly better/worse).

More/less travelling time to new workplace?

How long do you think it will take to get back to your current level of income (or to surpass your current level of income?). You have done your budgets, but how restrictive is your budget? How many things are your family/children missing out on while you work towards just getting back to where you were (re: income). How long will it take to get there? How long do you think it's fair/reasonable to expect your family to live on the restrictive budget?

Do you have a mortgage where you will be continously tetering on the edge of defaulting? Financial issues are a major cause of relationship stress.

How much of this decision is down to you feeling like you need a change (i.e. mainly for yourself) vs future possibiliy of promotion and income (family)?

Are you just feeling a bit 'meh' at the moment, and will change you mood in a month or two?


Look, I've changed job's before for myself (while single, no financial commitments). With added family/financial responsibilites your decison making has to include factors other than what you want. I haven't given you any answers here, just some questions you need to ask yourself, and balance out the answers against each other to see what the total gains/costs are.

Good luck.

 

[raskolnikov]

We have done our budgets and we would get by month to month, things would just be tight.

Any advice?

My advice would be that to make sure you can really afford it. Saying things will be tight sends off alarm bells with me. There are always hidden and unexpected expenses that you don't forsee. Are you really sure you can afford it? If so, go for it. I did, not by much, about five grand a year less, but I couldn't be happier in my job and that is far more important.