Should You Accept a Job with Lower Pay?
You have been out of work for a while. While it may be tempting to hold out for a job making your old salary, be realistic. It may be a while before you can make that type of money again. When the job climate is in the employer’s market phase, salaries may not be as high as they used to be. Unlimited available talent or lower budgets mean that companies cannot shell out large salaries. The bottom line is that bills still need to get paid. Sometimes you need to put pride aside and take a job in order to survive.
You are not the only candidate in the pool. While it’s important to have an excellent sense of self-worth, there are times when you may not be the only applicant in the pool. How bad do you need the job?
You need to expand your knowledge. Here again, in an employer market economy, you may need to expand your skills and knowledge. If your current skills are not transferring to a new job, you may need to take a lower paying job in order to gain the skill sets that you need.
You need to move into a new career field. This goes hand-in-hand with increasing your knowledge. If prospects are slim in your current career field or you simply have the desire to switch careers, you will probably need to start at entry level. It would unreasonable to assume that if you decide to move from a high level position to expect the same salary.
It goes without saying that if you are currently working, the consideration should also include other factors such as current lifestyle, bills and other potential factors. The decision, however, should be easier if you have been unemployed for a length of time.
What about accepting a part-time position? This should be considered as well. Working part-time offers pay, while giving you the opportunity to continue engagement in your job search activities. Some income is often better than none at all.
The decision to accept a lower paying job comes down to your priorities. If your concern is about maintaining your status quo and current lifestyle, by all means hold out for the higher paying job. If it comes down to survival and setting a foundation for a leap forward, give that lower paying job some consideration.
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