I lost my job in June and have been interviewing like crazy. My emergency fund gives me about 12 months of backup. But with all the doom and gloom about this job market, should I lower my salary expectations and accept a job that pays a lot less than what I was making? I'm worried I'm being too picky and will end up with nothing when my savings are gone.

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You can always take a lower paying job while still looking for something else

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Can you put a price on stress relief? If so, that’s your salary.
I was in the same boat and took a contract position a couple weeks ago. My take home covers the monthly budget but no wiggle room. However, my stress has gone to zero and our emergency fund has stopped bleeding. I went from 115k to 80k salary doing similar work. But 80k is a lot better than the measly unemployment income.

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Yes, salaries have gone down in the current market. It’s better to have lower expectations

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My “12-month emergency fund”, along with my unemployment benefits, ran out in the 10th month of what turned out to be a 14-month job search. In 3 months, resulting missed credit card payments ravaged my credit score. I ended up taking a contract position. I honestly wish I had done that earlier.
Thankfully, I’m now making a lot more than what I was making at the job I lost - a job I hated for a number of reasons. Perhaps you should consider contracting in your specialty. You might be pleasantly surprised.

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I’m in a similar situation. My emergency fund buys me time, but I’ve been looking at lower-paying jobs as a possible step while I keep searching for something better. It’s not my ideal plan, but it might take some pressure off.

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Stop listening to stupid news about "the job market". It's the type of information that you can say applies to you whether it does or it doesn't.

I got some questions for you:

Where do you wanna live?
How much do you wanna make?
What industry do you want to work in?
What do you want your boss' job title to be?

When you have those answers, you can start talking about how difficult it is to find work.

But at the same time, that's also a good way to target your job search.

Most people don't find jobs because they listen to the wrong people and then they go about sprayging and praying applications across the Internet

This job market is bad and could get worse. So if you get an offer, even if it's not everything you want, you'd be smart to take it. If you've been interviewing a lot things aren't hopeless. But you probably can't afford to be extremely selective.

I had to lower my salary expectations a bit in the current market

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