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As someone from your firm, I say go for it. Sometimes a pay cut is worth your sanity. I’m interviewing today for a role that aligns more with my values and could be 20-30k less but I think in the long run I’ll be happier and healthier. Gotta do what’s right for you. Money is not everything.
100%! I agree wholeheartedly
Tbh sounds like a bad opportunity. 18k difference is A LOT at your level, and there’s never a guarantee of promo unless you have it guaranteed in your employment contract.
This is why I’m hesitant. The pay cut sucks and would be a lot for my level.
Break down your current salary to the hours you actually work and then it might not be much of a pay cut. You can’t get time back!
Pro
You're young. While 18k us significant, the bigger question is how will that impact you. Do you have school loans? Will it pinch your budget? If it will put you under financial stress, you will be trading one stress for another. In which case, I would say pass. Life is too short to spend 40 to 60 hours a week doing something you hate. Chances are over the course of your career, this will be a small blip.
Just do your research, talk to people at your potential new place of employment. If you are banking on that promotion, ask what milestones you would have to achieve, on what metrics you would be evaluated and what might keep that from happening. If it didn't happen in 6 months when is the next review cycle. Being eligibile is not a guarantee, so you have to be happy there if it doesn't happen. Are pay raises separate from promotion and what does a promotion mean in terms of job duties.
You are making this switch for lifestyle issues. You want to make sure you won't be in the same spot only now earning less money.
What ever you decide, don't second guess it. Go all in.
You are weak. Go for it.
If you see lots of growth down the line compared to pwc, go for it. You can do next 5 years comparison. What would be your cumulative comp at either in next 5 years with all the assumptions.
It is a significant cut, so you need to translate that growth into what that means financially
I just made a similar switch (big 4 to reputable industry company) for no pay bump because the growth opportunities were there and I was so unexcited about my old job. I wish I left sooner. It sucks being told working at a big 4 will lead to all these super high paying exit opps then not finding that to be the case, but who knows when the market will improve and your time is valuable too. I wasnt even working that many hours but I was so miserable doing pointless work. I’d just do the math to see how your budget will look on the new salary and get comfortable with that being your budget for the foreseeable future.
can you negotiate salary or a more concrete promo opp? the way the biz landscape is rn i would take "chance" of promo w a grain of salt tbh
What's the total package? And how much will you have to travel?
I once took a pay cut that on paper was $10K, but between reduced insurance cost and travel my net take home actually increased
Is 18k worth sacrificing your mental health for? Would you pay 18k to be healthy? I took a 15k pay cut and now my anxiety symptoms are basically nonexistent.