Would you take a pay cut for a dream role

Hi all, what I'm going to write is probably going to make me sound like a douche but that isn't my intention.

I've been offered a job in a place which is in a sector that I'm really keen on, I have a lot of passion etc. However the role is offering 28k base salary in London therefore not sure if this is a decent amount given the expense of the city. Currently I'm in a job that pays 37k and I was always expecting and willing to give up a chunk of salary....

In a dilemma as the role is a really good one...

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Reply 1

Quady

Yeah go for it if you don't feel fulfilled in what you're doing.

Reply 2

BeautifullyTragic

Do it, 28k will definitely get you by in London. I'm assuming you'll be renting rather than paying a mortgage?

Reply 3

CJKay

Not sure. £9k down is a large salary reduction. It would depend on what and where the original job was. If I'm going from £37k outside of London, I probably wouldn't go to £28k inside of London because that'd a pretty huge hit to my take-home.

Reply 4

meenu89

Probably, anything to be Prime Minister.

Reply 5

ebam_uk

Original post by Badwa

You need to weight up the pros and cons.

I dont know but is money and financial security a big concern? ie if you have dependents like kids and you expect to have more kids perhaps a higher salary is needed.

However if you are working less hours for less pay perhaps the pay is justifiable as you will have more free time.

Consider also what progression is like in the new role, if it is good then perhaps you'll be earning > 37k doing something you are passionate about rather than 37k doing something you are not..

You need to weigh up the pros and cons of both jobs holistically, avoid looking directly at the salary and look more long term...

Reply 6

SecretDuck

Only if I will be able to grow my career in the dream role.

Reply 7

Runninground

Yeah £37k outside London is a nice amount of take home pay, but £28k in London with higher living costs is going to reduce it by a lot.

Is that £28k set in stone or have you negotiated? I think (assuming it is a skilled job) that you could probably get £30-£35k if you give it a go.

Also work out if you can afford the pay cut once you factor in the higher living costs. Another thing to look at is the progression. In your current job you might have progressed as far as possible, however in the new job are there more opportunities?

(edited 10 years ago)

Reply 8

Quady

Original post by CJKay

Actually thats a good point, I hadn't read between the lines and seen it was an out of london to in London move.

That would be quite a hit and I'd be very hesitant to do it unless I knew the job would be harmoniously lovely.

Reply 9

Rascacielos

I think it would depend on whether I could advance in that dream role and ultimately earn as much as, or even more than, what I used to. It would also depend on how much I disliked my current role. And I'd have to weigh both of those things up against the effect the cut would have on my life: would I ultimately be unhappy because I could travel as much, eat out more, or do the things I love doing?

Whatever people say, money is important and struggling to make ends meet really ruins your life.

Reply 10

Solemn Rain

Only if I have the option to further my earnings later on.

Reply 11

EllieC130

28K isn't so bad so I'd say go for the role you prefer i.e. the worse paid one. It's better to be happy in your job.

Reply 12

tazarooni89

It depends. Personally, I wouldn't want to go from 37k to 28k unless I expected the salary of the 28k job to increase pretty quickly, even if I enjoyed it more.

But it also depends on how much you value that amount of money. For example, if I were earning 500k, I wouldn't mind switching to a 450k job that I enjoyed more, because I consider both of those amounts to be ridiculously high, and would probably not get round to spending it all either way. I feel like 37k to 28k would be a bit on a strain though.

Reply 13

LukeM90

I'd rather be happy and skint than miserable and loaded, you only get one life and you mightent get the change again,

yeh its a paycut but surely if you go at somthing you love you will probably do better at it, and therfor have a better chance at future promotions/prospects? so more money

what im getting at is you could sit on the same salary your on now and be miserable, or be happy and be less in the money for now with the probability you will do one day.

personally if I had a dream role and was offered it, id happily take less money for it, I got offered a job recently that was alot better paid but I turned it down because it was a worse job than this, was further away (alot further) and had even less prospects than this, sometimes thinking long term is better, but thats just me, id rather follow my passion than stay in a job I dislike or hate.

Reply 14

The-Dream

Yeah I'd do it, you'll only regret it if you don't! 28k is still a lot of money.

Reply 15

hothedgehog

If you think you will be able to live on 28k in London then go for it.

Reply 16

audi_turbo

£28k in London is definitely possible. I'd personally switch, although it would depend on whether the new job's salary would be rising in the future.

Reply 17

InnerTemple

9k down from 37k is manageable - depending upon your circumstances now.

My dream job would see my salary reduce by more than half. It would also see my lifestyle change fundamentally too... so I would probably stay where I am for now!

Reply 18

chazwomaq

I would think about what future this new job offers. Would it offer you the chance to regain that salary in the future?

But ultimately, the role would be more important, at least to me. In fact, I gave up my 24k job for a 12k PhD studentship (tax free!) but it was totally worth it.

Reply 19

Little Jules

If it's your dream job, in your dream sector, you should probably go for it. If you want to move sectors, better to do it now, while you are still young enough to take the hit (no mortgage, kids etc - I assume) then later when you can't. £28k in London is totally doable. You may have to make some changes to your lifestyle, but if you really want the job you'll think it's worth it. Plus, there may be options to progress.

Ultimately, you have to weigh up how much you want the job.