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Did the same. There's a lot of benefits of greater recognition and more responsibility. My pay increased considerably but that could vary from company to company and their repository of projects. Cons haven't been any, maybe a lot of roles to handle at once sometimes but that helps grow as a designer. If it's rewarded with equal pay and validation then it's all worth it.
Yep, I made the transition last year after 6 years in commercial, too. I love it. Benefits: the work is FAR more interesting, I’m running projects by myself, taking on more responsibility (that never happened in my 40 person office), and genuinely enjoying (most) client interactions. I feel like I’ve learned a lot very quickly about the residential world (something I was insecure about with only commercial experience). The toxic work environment was so real at my old job, and in comparison, this team is a breeze to work with. No pressure to work overtime, we’re all fully remote, etc, etc. The disadvantages so far, for me, have been that I don’t see as many opportunities to regularly increase my salary, and my company, because of its size, doesn’t offer certain benefits like dental/vision insurance or a 401k. I figured out some personal adjustments to make up for those things and am super happy with my choice. Turns out, quality of work and life can be more important than just money (at least for me). Good luck with your choice!