I’m an academic working at a research institute. I’m pivoting into tech. Got an offer at a fantastic company, but I’d need to take a $5k pay cut. (My current gig pays pretty well.) Long term, I may make more in tech, and this is my chance to pivot, and the job is interesting work and company has great culture. But not sure if it’s dumb to take a pay cut, even if it’s small. Any advice?

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Hard to say without seeing holidays, PTO, benefits, 401k match, etc. If you consider everything, it could be a better financial situation overall even $5k less, could really be comparable, or could be a true drop. I'd suggest looking for a total compensation equivalency calculator online for those additional factors or even just from what you know of them at your current company vs where you have the offer determine which is better and if it makes up for or adds to the $5k difference.
If you have already tried or don't think you can successfully negotiate for the higher salary to match your current, could you negotiate for that value in one of those other areas (days off, % match, etc)?

Even still, the monetary component is just one thing to consider so if you think it's a better move for other reasons and can afford the pay cut, I'd say go for it and hopefully it recoups shortly with raises/career growth at the new company.

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Good points. Everything else is pretty equal. It’s just the base.

Take the pay cut IF it’s not jeopardizing your livelihood. You’ll thank yourself in the future

Curious what role you have and are considering and what company or at least industry/size of company you have the offer from if you don't mind sharing!

Send me a note!

5k is a great ROI on your career. I took a huuuge pay cut to join a Fortune 25 company and it has opened so many doors for me including getting into senior leadership.

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