Your salary isn’t everything when it comes to your job. Sometimes, it’s okay to take a pay cut. It may even be a smart financial decision in the long run. Here are a few circumstances when it might make sense to rake in fewer bucks.
When You Want To Climb The Ladder Or Change Careers
According to a recent study by Towers Perrin, 55% of workers feel they need to change jobs. Sometimes it’s that unpaid internship that gets you the connections you need to move forward faster.
You don’t necessarily have to work for free to climb quickly, but you may have to take a temporary pay cut, possibly even a demotion. Taking a step back in order to take five steps forward may be necessary at some point in your career.
When You Need To Follow Your Dreams
A sense of fulfillment is a genuine human need; don’t neglect it if you can help it. You may not have always dreamt of being a CEO, but here you are, stacking up the dough. Life ends at some point.
Tom Low, former CFO of Safeway and Ask Jeeves, gave up millions to work for a non-profit helping low-income people in Asia. If you dream of dedicating yourself to non-profit work, the time is now. As long as you can afford the change, go for it!
Healthier Culture And Work-Life Balance
You soak up the energy of the people you’re around the most. You probably spend a ton of time at work. If you’re around toxic people, it’ll inevitably affect your happiness and productivity. Your family life could be suffering. Maybe you need to work less and spend more time on passion projects. Both are excellent reasons to take a lower salary for a more ideal job situation.
There’s an app on the market called Mortality. It counts down the days and hours until you die. Download it, stare at it, and reflect on your career and where you want it to go. Tick-tock, it’s decision time.