Should I take a pay cut?
(2010-04-11 23:10:23)
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Hi,
I really need some advice for a major career decision.
I\'m 36, really feel that I need to make a breakthrough in my career.
I currently work at a start-up, doing product management. My title is director, but I don\'t manage anyone. In my previous job, I managed a team of 6 people.
My current job is dead end in many ways.
I just got a job offer with P&L responsibilities to manage a product line. I\'ll manage 4 people. It all sounds good. However, the base salary comes in $10 below my current pay. And the over compensation (base, bonus, and stocks) is at least $25K below market rate (based on payscale.com).
This company is a public company, has struggled for years, but it\'s starting to get better in the past year or so. It\'s in a good market niche.
Should I take this job? I have never been someone who work for money only. But, as the only bread earner in the family, I\'m getting a lot of pressure from my wife to make more money ...
Any feedback would be appreciated!
How stable is your current job? Is it well founded?
Is the job market in your sector good or bad?
Is what you do very much in demand?
The offer you have does not sound that exiting, have you tried to contact more companies? and why not?
After thinking through you may prioritize the following:
Job security
Career development
Money
You should be able to have a better picture.
Good luck!