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Job offer w/ pay cut...what to do?
I received a job offer (yay!) for a job that I'd really enjoy. The hours are nice (Tues-Fri 10hr shifts).
However, it's a $3 pay cut.
I looked at our budget and it certainly doesn't destroy us but it definitely makes things tight.
How do you know you're making the right decision? It's so agonizing!
There are many pros to the new job, I've gone through three interviews (phone, face to face and another, very casual, face to face) and the only real con is the pay cut.
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Re: Job offer w/ pay cut...what to do?
My mental health and having a job I enjoy is more important to me than making more money any day. That is not to say I would work for less than I could support myself and my family on, but if I could be happy at my job and still support myself - even with a pay cut - I'd do it in a second.
What is the potential for advancing and/or raises? Maybe the pay cut would be fairly temporary?
I agree - try to negotiate on the pay or additional vacation time or benefits that would make up for the cut. If you're working full time, a $3 cut is around $6k over the course of a year.
Will the job be likely to lead to better opportunities? Will you learn skills that will be an asset in the future that you can't get in your current position, faster/better promotions, working with someone who will be a great mentor, paid tuition, etc. Is the job you're in now a dead end? Is there a chance you could be laid off? Are you stuck and not learning or growing? Money is important but I tend to think long term.
Tired after a long morning of hiking and swimming.
They offer 6-7wks of vacation pay so I said I'd be willing to forfeit a couple weeks in order to negotiate. (My husband doesn't get that much and I really don't use a lot)
She said they were able to bump it up $1/hr due to my extensive experience.
They do offer medical, dental & 401K. I have medical/dental through my husband's employer so I also asked if that could be terms for negotiation as well.
She also said that there are opportunities for advancement on a yearly basis (reviews).
A couple of the people I interviewed with started in the position I'd be starting in and have advanced up in the company so that was a good sign I thought. Perhaps I could get promoted at some point?
Thank you. This really helped me think more long term and in-depth.
I feel greedy or guilty 'hasseling' over a few bucks but I know that it's normal. (or I assume it's normal for job applicants anyway.)
It sounds like even with the pay cut, you will have more opportunities so I'd be very tempted to go for it. It also sounds like there is some room for negotiating so that's good. I wouldn't feel greedy for wanting more money. $3 might not sound like much but it adds up.
As a side note, I didn't think there were places that offered so much time off for new employees! I'd love that more than a bigger pay check, but then I live for free time and vacations.
ETA: Congratulations by the way!
Tired after a long morning of hiking and swimming.
I'd check the cost of insurance too - most of the time it's cheaper to have your own plans instead of going together on one.
I'd do it in a hot second!
All of the thoughts/advice on here sound spot on. I'll also add one more thing to think about...how long would it take/how hard would it be to find a similar position, or another position that you would like, and what are the chances that those would pay more?
I ask because last year I took a position that sounded fairly good, but the salary was a little lower than I had wanted / a little less than market rates. I took the job because it sounded interesting, and worked my tail off. It bugged me that the pay was low for how hard I was working. I work in IT, where it is a snap to find similar work. I ended up leaving, mostly because it was pretty easy for me to find something else where I earned more and where the stress level was lower. In the end, I wished I'd trusted my instincts and had not taken it.
Thanks everyone!
She emailed me back and answered my questions. I get 216 PTO hours per year. That equates to 5.6 weeks. The PTO package as well as the benefit package do not allow for substitution in pay.
No Holidays, no Weekends.
She also mentioned that there are positions that would be available to me in a year if I excelled at this position and wanted to move up. She said that they are salaried positions in higher pay brackets.
So, I'm really seeing this as a temporary set back to what could be many possibilities in the future. Where as now, with my current job, I really am at a dead-end in the company!
Thanks again!