Why I Accepted a Job Offer For $10k Dollars Less Than I Make Now

by Joseph · 12 comments

in Miscellaneous

modern meeting room

I’ve accepted a new job with a small tech/advertising company, which I’ll be starting in less than two weeks now. The catch? My salary will be decreasing by a little more than $10,000 a year with this new position when compared to my current job. I know what you’re probably thinking. It seems odd to take a job with less money, right? After all, generally when trying to build wealth your goal would be to increase your earnings over time. So why am I taking a step backwards here?

Let me get a little philosophical here. Can money buy happiness? Maybe it can, but my guess is it probably doesn’t. Needless to say I wasn’t exactly happy with my old job so I decided it was time for a change. When that change was offered to me I decided to take it, even when they stated they couldn’t offer me what I was earning now for my starting salary.

I am taking some risk with this new job, of course. In my mind the benefits outweigh the negatives, which led to an easy decision.

Here’s what’s great about this new job:

  • Job duties that I’ll actually enjoy
  • Lots of opportunity for growth, both professionally and monetarily
  • A fun work environment
  • The chance to apply skills I picked up in college
  • The office is across the street from Sprinkles Cupcakes

The not so good:

  • A pretty substantial upfront pay decrease
  • The office is across the street from Sprinkles Cupcakes

There you have it. My mind was decided as soon as I ran through that list of pros and cons. Coincidentally I’ve reworked my budget since then and realized that with very little sacrifice required I will actually be able to save more with this new position than I was with my previous one. Stay tuned as there is more to come on that later this week!

{ 12 comments… read them below or add one }

Get Out of Debt Guy August 9, 2011 at 5:51 pm

Good for you. Quality of life and enjoyment of what you do have a financial value as well. It’s great you spotted the inner value in the opportunity. Congratulations.

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Joseph August 9, 2011 at 8:20 pm

Thanks for your comment! I’m very thankful that I had the opportunity to take a job I’ll enjoy more even though it came with a pay cut.

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Erin August 10, 2011 at 7:04 am

Good luck with the new job! I am also moving in this direction :)

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Joseph August 10, 2011 at 6:16 pm

Thanks Erin! I wish you luck as well!

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Jen @ SheBloggs August 16, 2011 at 9:29 am

Congratulations on your new job! I agree that sometimes it’s more than just money. It’s about being happy and if your new job offers more growth in the future, that’s fantastic :)

Good luck!

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Joseph August 16, 2011 at 8:13 pm

Hey Jen! Thanks for the comment. I’m really digging the job so far, so thanks again!

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KT October 4, 2011 at 4:53 am

I’m really glad I read this. I have been offered two jobs. One is for a company who I have previously worked for and the role is pretty mundane – my days dragged in and I was very much miserable working for them. The other position is £6,000 less – working for a small, fun company in a lucrative industry. The position is something I know I love doing and there are many opportunities for growth. At the interviews – I got a very positive feel good vibe for the lower paid job whereas in the higher paid job I instantly felt undervalued and left the interview feeling more miserable than I ever did working there! My heart says to take the job that I know I will be happier in – but everyone thinks I am crazy for considering the lower paid salary!! I hope I make the right decision.

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Joseph October 4, 2011 at 7:08 am

KT,

It sounds like you’ve already made the right decision. Thanks for the comment and I hope you enjoy your new (and fun) job!

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Cecilia October 25, 2011 at 5:24 am

I’m so pleased you posted this, I am just going through the very same thing!

I have turned down a job paying approx £10k more than the one I am accepting, simply because I think I will enjoy the job more.

The job I have accepted is returning to something I used to do, in an industry that’s interesting and in a small but growing company. It’s also 8 minutes drive away.

The one I declined is a large corporate, but the role hasn’t been clearly defined nor the targets save that I have to get 100% to pass a probation period. I felt at lot like KT leaving that interview!

Like you, I worked out my budget and realised that I can survive fine on the lower salary, and for the enjoyment of life both short and long term it’s a sacrifice worth making!

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Joseph October 25, 2011 at 6:10 pm

Cecilia,

Glad to hear that you are making the choice that will make you happiest over the long run. It sucks to take a pay cut, but in the grand scheme of things it’s not so bad.

Thanks for the comment!

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julie January 20, 2012 at 11:48 am

i realize this is an old post but i stumbled upon it when doing a google search. i am facing this decision and it’s tough: take a pay cut for a job that is more interesting… in my current role, i have to do a lot of mudane/clerical tasks and the new role would offer me a chance to utilize skills i learned while earning my degree. it is hard to voluntarily take a pay cut though. i still haven’t decided but it was nice to read your post and the comments.

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Joseph January 30, 2012 at 10:05 pm

Whatever you decide Julie I wish you the best of luck. Thanks for the comment!

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