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How much of a pay cut would you take?

SSSnail

SSSnail

Lifer
If given a choice of being laid-off, or laid-off and looking towards new employment?

If you're offered something with a lowered rate, but have better upward mobility, would you take it?
 
If I were going to be laid off otherwise? I'd take the pay cut while looking for a job that pays my old salary.
 
I don't think I'd take any pay cut. Obviously I wouldn't have a choice if it happened, but if my company did it I'd start looking for something else immediately. And I think I could find something fairly easily, lots of jobs out there for the skillset that I have gained over the last 10 years or so
 
I'd think I'd do up to 20%. Any more and I'd rather take my chances with unemployement benefits.

And I'd start looking for another job immediately in any case.
 
Depends on the extent of that upward mobility. It should be fairly easy to calculate. I'd take a 50% reduction if I felt in 5 years I'd be making 4x the income at my original place of work. I'm just making up those numbers, but you get the point.

I'd taken some cuts over the years, and every single time it ultimately resulted in a more dramatic move forward later. I would be certain of such a move though, because promises have a way of being forgotten.
 
Unfortunately, I was hit with this exact situation early in Nov. Originally I was going to be laid off at the first of the new year, but I was offered to stay on, at 4 days a week, with a 20% cut.

I took it for a couple of reasons:

- the extra day off a week will be very nice, and hopefully I'll be able to take advantage of it (concentrate on my Cisco certs, etc.).
- I don't really want to start over at a new company at this time. I've been going through some crazy personal stuff and I've got enough on my plate. Adding the pressures of a new job search right now would make me go insane.

The cut in pay is going to sting, a lot, but I've run the numbers quite a few times and I'll be OK. Obviously I won't do this for a long time, but it's better than being completely let go. It's really put a sour taste in my mouth as well, which is unfortunate. This was the first job I've ever had that I truly loved and believed in (I'm 34). I get it, it's just business and the economy sucks, but it doesn't make it any easier to swallow.
 
After I got laid off... I ended up taking a 29% pay cut.... but at the time my alternative was a 100% pay cut. (Severance was 3 weeks from running out)

The job sucks... but it pays the bills while I look for a better one. 🙂
 
Originally posted by: theknight571
After I got laid off... I ended up taking a 29% pay cut.... but at the time my alternative was a 100% pay cut. (Severance was 3 weeks from running out)

The job sucks... but it pays the bills while I look for a better one. 🙂
Click to expand...

I may have to do the same thing shortly, probably close to 22%, but it's a huge chunk.
 
Originally posted by: LS21
-10% tops
Click to expand...

This actually just happened to me. I was laid off a month ago with 2 months severance. I am now looking at making between 10 and 30% more, closer location(s) and better position(s), while my former co-workers (who did not get laid off) got 7.5% reductions in their pay. I guess it pays to be in demand.

 
My father just took a 30% paycut for the winter. He knows they will make it up to him in the spring though. I'd hang in there with the paycut, but be actively looking for another job in your spare time.
 
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