Looking to leave my current firm for an industry role, but it would mean taking a 10k pay cut on base salary. Would this deter you from making a move or is it effectively immaterial in the long run?

like
Posting as :
works at
You are currently posting as works at

$10k is nothing in the duration of life and is probably worth it for better work life balance.

like

I did get my pay cut for the move and no regrets - one of the best decisions made

like

Same

Depends on the work life balance and level of burnout I’m at. If the industry job is less stressful, I’d be much happier, and I have more free time. $10k cut is worth it if I can’t find anything at the pay I want

like

I'd take the paycut if it means better work life balance and mental health improvement. I once took a paycut to escape a toxic boss. So first consider what positives you'll be getting from taking such a deal and if they outweigh the $10K.

like

Are we talking 10k off a 100k salary or off a 250k salary?

Generally I’d say hell no unless you’re already making 200+. It’s not just the cut now, but raises in industry are also almost always much less than in b4. So you’d be taking more off now plus get less compounding over time

Only you know what’s right for you in the end…

like

I personally wouldn’t take a pay cut however it depends on the role and whether your currently employment is toxic or not.

likefunny

No way I am taking a pay cut unless that is the greatest job ever

like

I have taken significant pay cuts for jobs before. It isn’t fun and takes some adjusting of budgets but it was the best thing for me. I no longer recognized the person I was at that job. My change was drastic but very good for me. You have to consider your health as well as the job. If your job isn’t negatively impacting you then I would consider long term possibilities and benefits like profit sharing

like

It's not just the money. Why are you thinking of leaving anyways?
First of all after tax it's much less than 10k

Second, what are you getting back? Better WLB, less stress, shorter commute, etc. maybe you'll have more time for hobbies or to spend with your family which is more valuable than the money.

Third, do you need the extra 10K or is it just a game to try and collect as much money as possible? There's more important things in life. A 10K cut on a salary of 50 is much different consideration than a cut on 200.

I wouldn't take a pay cut to go to industry unless you are a Director maxing out your range especially if the opportunity for promotion isnt there/built in like it is in public.

Is it REALLY a pay cut though? If you are in the higher tax brackets, you might only “lose” 55% of the money due to fed 34%?/state 3-10%/medicare 1.45%/SS taxes 6.2% if under $176K on the money. Will you be working less hours? If so, it might actually be a raise on a per hour basis. If you come home less exhausted from work with the ability to make yourself dinner versus spending $100 on a family takeout meal multiple times a week, that’s also a factor. How are their benefits? What is their 401(k) matching policy? IMO it’s immaterial in the long run.

Related Posts

Hi All,

My sister is searching for a job. She is currently working as PMO in Infosys from last 2 years (she has only 2 years experience). Can someone please provide referral for PMO role in Capgemini Pune?

Thanks in advance... 😊

like

Anyone know what kind of experience or certifications I should be aiming to get if I'm trying to break into a pentest role? I just graduated last year and have about a year of sysadmin experience and am trying to get into it asap. So, I'm already applying/job hunting and probably won't get much replies but. Should I be looking at more security analyst/admin roles first? Going for certs? Getting a masters? Wondering what I can do to improve my chances. TIA

like

30K signing bonus in an offer from a higher ranked firm…am I crazy to go back to my firm to see if they will match it. I don’t want to leave, just want the extra $$.

like

Johnson & Johnson Services, Inc. What salary should I be asking for with a masters degree in process and chemical engineering and 2 years industry experience ?Pfizer Bristol Myers Squibb Alexion Pharmaceuticals, Inc. Janssen Johnson & Johnson Services, Inc. Pepsico GE Healthcare Merck KGaA, Darmstadt, Germany

like

Let’s talk comp — I’m a remote head of recruitment with 6 years of experience being paid 75K base plus bonuses that got me to 90K this year. I’m interviewing for other jobs, and have a potential offer at $130K base. Any idea what the market is like? Is seems like anything between 72K and $250K is possible. I have no idea what to ask companies for.

like

So, I've tried a few different positions and still hate practicing law BUT I was approached about a contract role that won't have billable hour requirements and I won't be steeped (I think) into the law firm's toxicity, so I'm wondering if it could be the closest thing to a 9 to 5 for law. Pay is hourly which seems weird, but I would have time to devote to hobbies and life generally. Has anyone been tempted by or accepted these contract opportunities, and what's your hot take?

like

Hi fishes! I had asked for benefits other than CTC which Bank of America provides & now that I've completed 1 month here, here's the list of allowances you'll be getting irrespective of position/band:

1. Sodexo: 1300 p.m./ 15,600 p.a.

2. Transport allowance: 900 one way, 1800 two ways p.m./ 21,600 p.a.

3. Internet: 1500 max p.m. (other than that, one time installation charges)

4. Tuition fee: Any certification related to your field. Like CFA, FRM etc. 3,00,000 p.a.

(See Comments)

like

Hi,

I am joining Citi next week kharadi pune location.
Just wanted to confirm a few things.
C12 AVP Role

Is Citi providing laptops? What kind of work model is followed? Hybrid/wfh/wfo

How is the onboarding process? Virtual or do we need to visit the office on the first day.

Is free cab transport is provided ? How people from far distance are managing to commute to office?

How is WLB?

Please guide.

likehelpful

Need a referral for Associate Product Manager,
Please help me out.

like
like

We’re hiring across a variety of roles. If one on our site catches your eye - happy to refer if you DM! 😊

likefunny

Hey everyone! I’m a couple months in of trying to find a SDR role. Does anyone have any advice for interviews or just to stand out from the crowd? Any advice would be much appreciated!

like

Hi Everyone,
I am currently working in technical support in cloud at TCS for 1.4 years. The work is very rudimentary and almost no skill is required for it.
I want to switch to BA role and I have done few certifications, learnt Tableau, Excel and MySQL but I am still not getting interviews.
Any suggestions on what should I do?

like

I would like to hear from any UX Program Managers who are willing to share their experience.

How difficult is it to juggle a remote role with a hybrid role?

My current role is hybrid with at least two days a week in office. However, with the potential economic downturn, I'm considering holding on to the role to supplement my income.

I'm new to the overemployed movement, so I'm evaluating the feasibility of holding onto the hybrid role and the remote position.

like

Can you please help with a few technical Interview questions that i should be prepared for ? This is for a senior role in tax compliance for financial services (PE & HFs) .

like

Curious: are there more lowball offers during the pandemic season or is compensation levels relatively stable?

like

Where are there openings for a lead strategist / head of strategy at the moment? Not asking for a friend.

like

About to interview for Tech Architect role in Slack Any pointers on what I should expect in the first round?

like

What’s the comp range for L4 Product Strategy/Ops in Mountain View?

like

More Posts

Julius doesn’t appreciate his nap time being interrupted with my picture taking

Post Photo
likeuplifting

When you try to BS the client but they once studied history

Post Photo
likefunny

Starting a new fully remote role Monday with a leader that has never had their own admin, let alone an exec assistant. Any suggestions for developing the relationship or training them to properly use an exec assistant?

like

how much harder is banking then valuation?

likefunny

Did anyone join synechron for Morgan client this week? Please ping me

like

Hi

Can anybody tell mw what will be inhand

Post Photo
like

Only barely worked for 2 months, but starting to soak up some realities that makes me wonder "are all firms a little like this"?

One partner drinks alcohol nearly every day in his office

One senior associate unashamedly talks about his coke habit ("come on, at least a third of V100 lawyers do coke regularly, but they don’t admit it like I do")

Several partners claim that their kids can do anything they want.. EXCEPT choose big law and their parents’ lives.

Should I stay or should I go? 😯

likefunnyhelpful

Facebook shutting down Oculus Story Studio... VR dead?

like

Alright I gotta say it.. charlottes gym scene is terrible. Where do people go to workout?

likefunny

So took FAR today, felt good about it. For the most part I felt questions were from stuff i ready and felt was easy. Now am not sure if I got everything of it but I also know1/2

like

Anyone else bummed to see so many clients getting outbid? So many awesome people who deserve the house of their dreams that just can't get anywhere with today's market. It's rough.

like

Would you take a freelance gig that would be a promotion (with potential to join full time) with a smaller company whose values you really agree with, OR a full-time offer for a lateral move with a larger company with teammates you know and trust? Of course factoring in all the nuances of covid. TIA!

like

I feel left out in my firm. How do I make 'friends' with my colleagues? I've been here for a year. I am naturally not a very out going person, was never 'cool' and I struggle to speak in group situations / make engaging conversation with higher ups. It is an important trait to have in this job and I just don't know how to do this. It makes me very upset - I even sought therapy but wasn't useful. I can't spend 14 hours each day feeling like this:(

like
like

Recently got referred at BCG. Haven’t received the link to apply yet (< 24 hrs), should I reach out to my contact and ask him what’s going on ?

like

Hi fishes!

How is Techwave (
https://techwave.net) company, specifically for .NET developers? Is it a good company to join now (during recession time)? How is the pay, projects, wlb? Any reviews on the company is greatly appreciated!

Thanks!

like

ACD/writer level freelancer? Have awards and new business pitch experience I’m based in Denver/Boulder.

Hi ,

Please help me in Unlocking Direct Message by Liking this post.

Thanks In Advance !

like

Additional Posts in Accounting

Thinking joining Deloitte New Jersey office… any thoughts/reviews from anyone that works there on culture/people/workload/etc?? Deloitte

like

Does anyone know the billable hours goal for managers at EY?

likehelpfulfunny

Advice needed - boyfriend has almost 3.5 years of finance experience at a bank. Interviewed for PwC valuation senior associate and now recruiter says they want to hire him at “experienced associate” because he has no valuation experience. Is this too big of a step backwards in career? Should he push back and see if it gets him anywhere? If he does accept Associate, is it reasonable to ask for written, definitive timeline (1 year?) for promo to Senior upon meeting standards? Help!

likehelpful

How prevalent it is that folks have anxiety depression at big4 nowadays.

like

What do CPA bonuses look like for other firms? Trying to find online is getting me nowhere.

like

26 y/o JD, CPA, CFP --- what are my odds landing a career with the FBI?

like

Highest number of billable hours you have seen in a year?

like
likefunny

When is the best time to leave and go to another big4? I am at PwC and I knew the reputation they had and Some people said It may not be for me because of it. Ive been here a year and I feel as there right. My busy season is starting and I want to leave (not just because of my team) but as some of you may know getting along with the people you work with is a big part of wanting to stay at your job. I want to try to quit end of December and hoping to start a new position February.

like

True or false?

Post Photo
likefunny

I recently got a job in public accounting firm (coming from industry). How do I improve my speed when doing clients’ work? I’m generally pretty careful and trying to find out some stuff before asking manager, but I know couple of my coworkers don’t really spend that much time and let managers figure them out.

likehelpful
like

Is CMA worth getting after getting the CPA? Or is it better to get the CFA. Also don’t have much finance background so I don’t know if I can pass the CFA will require a lot of hard work. Interesting in hearing people’s thoughts.

I have no plans in leaving PA anytime soon but I figure maybe I should look into another certification that holds value and makes me more marketable compared to my peers. Appreciate any thoughts and advice.

- Also considering going to a t14 MBA in future.

like

Is it true that PwC allows working in overseas upto 1 month per year?

likehelpful

Anyone hear talks of layoffs in Advisory? I know my office is laying off Assurance and BTS (Tax) staff but haven't heard much of Advisory yet.

like

I want to break my lease. Do you think it will be hard to find someone to take over the lease with all that is going on?

like

At what point do you folks just give up on working through an excel problem? I swear I could have saved time adding everything individually, but it would be a blow to my excel ego.

like

Did I hear this right? Pwc trust solutions call will not mention anything about mid year adjustments? All they talked about was early promotions and some bs rtr bonuses

like

Leaving PA for my dream school next year for a career pivot. However still have awhile before I can leave (there’s no reason to forgo a paycheck for even longer than I already have to…). I have no idea how I’ll make it through busy season without quitting on the spot 😩

like

Is there something against doing back to back offers at PwC or any of the other big four? I have two accepted offers with PwC next summer and would love to do both if the dates don't overlap (internship and a Masters fellowship). I was told that even if the dates don't overlap when they are announced sometime next year, I may still not be able to do both because of reasons related to the firm?
If this is the case then I may have look for another internship that I can do before the fellowship.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal