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The point of a title is typically more money. How fast would the new place promote you back to associate? In future job searches, you might be asked why you dropped to analyst so you’ll have to be able to explain besides, “I took the job for more money.” If you think you in a dead end job right now, it could be worth it. I took a title demotion when I moved from a regional boutique with a director title to Merrill Lynch for a VP title. More money and better career growth and it’s brought me to where I am now. To me, money was more important than the title.