OP, I've had to take a couple of pay cuts along my way in IT and always ended up making more money. You just have to know when to pull the trigger and analyze job opportunities along the way.
A few years ago, the company I worked for decided to consolidate IT operations and I was given the choice of "interviewing" for a position at either Danbury, CT or Tonawanda, NY or moving into an Oracle analyst position. The first choice was insulting, as I was a star with top reviews and ran circles around the corporate infrastructure people. So, I was placed into the Oracle analyst position, which I knew I would hate. I began searching and had 2 job offers within a few weeks. One matched the pay I was at and the other was several thousand below what I was making but the benefits generally made up for it. I took the lower paying one (I work for an organization that I guarantee every single person knows) and just 3 years later, make more than my old job plus have the killer benefits still. Besides the benefits, you get tons of awesome perks here and I also really love the industry we're in.