When is it the right decision to take a pay cut? Your career is not always a ladder, and sometimes taking a salary dip can actually be the most beneficial action to take. Here’s 7 reasons why taking less than you’re after may actually be the best thing you can do.
If you’re looking for a career change, you’ll more than likely have to start at the bottom and work your way up. It’s not easy, but if you’re willing to work for what you love then you’ll accept the job offer with the low pay.
If there’s a certain company you love, but are qualified for the role you suit, would you be willing to do anything to get your foot in the door? It can be a slow and arduous process, but with hard work and determination, can get you where you want to be.
Have you hit the salary ceiling for your current place of work? In small businesses, workers are often stuck with nowhere to go after they reach a certain point in their career. Moving to a bigger company will see your possibilities grow, but the competition for promotions is increased.
Many workers that we see are fed up of the shift patterns they have to work in their current job, but are torn between the high pay they receive for the undesirable hours and the appeal of a ‘normal’ working day.
Many higher paid positions involve working outside of your contracted hours. For example, our recruitment consultants are on call 24/7, and so are required to rotate the out of hours phone between themselves, ensuring client and candidate are happy at all times of day. If you’re after a job that you can leave at the workplace, you may be looking at a pay cut.
If you’re out of work, then definitely consider this. Anything is better than nothing, and will show employers that you’re devoted to being in work, rather than being egotistical and thinking you’re too important to work a lower paid job.
Other bonuses in a new job may more than make up for the missing salary. Things like free gyms, childcare, location (saving travel and food expenses) bonuses and discounts are all important factors when making the decision.