Let me start with this: It’s not always a bad idea to take a pay cut when getting a new job.
However, it is wise to consider the full scope of what you are willing to accept.
When I coach people who are contemplating starting a new job, they are looking for opportunities, for career development and what the future potential is for them within an organisation.
It’s not just about the salary or the hourly pay rate.
So you may be currently earning $85K but be willing to accept a job offer for $70K.
There’s nothing wrong with that if you can see other benefits and future potential in it, as long as the job growth and opportunities are a match to what it is you want to achieve.
What I have come across in coaching and recruitment is that people often have a preconceived notion that when changing jobs, they have to take a pay cut.
It’s just the expected norm, that because they have so much to learn in their new role, adapting to a new industry, how a new company operates and learning the daily tasks of a new job. There is an expectation that they often will take at least six months before they are of any value to that company, so they expect to take a pay cut and that’s just not necessary.
But when people are ready to leave their current job, they are usually ready to step up.
As employees we are always expanding and growing, often looking to learn and do more than what we have done in the past. And so we should always be looking to step up and grow and move forward in our next job.
Pay bands and pay salary should always reflect that growth. It should always reflect what you’re capable of, where you’re going and what you want to be doing in your new job.
The thing to consider is How important is the payrate in deciding to accept a job or not? Be very clear in your understanding of what is the pay rate you believe the job is worth and then expect to receive that amount.
If you’re seriously considering a drop in pay when accepting a new role let it be because there are other benefits that are more important to you than the pay rate. Like only working four days a week and getting an extra week’s annual leave. What is the minimum rate you would consider if it was offered alongside other benefits?
Generally, I would not recommend that you take a pay cut when getting a new job.
Don’t ever start with that expectation. You will always be more valuable today than you were last week, last month, or last year.
To find true satisfaction in your career you should always be looking to grow and develop yourself and that includes growing your total salary package.
A professional career coach can help you explore what it is you really want to be doing as well as support you through what can be a very challenging journey moving from where you are to where you want to be in your career.
Want to know more? Let’s talk: 0226467818 – Angela Couch (Career Coach in Auckland and around NZ)