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 }
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.
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.
Good luck with the new job! I am also moving in this direction
Thanks Erin! I wish you luck as well!
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!
Hey Jen! Thanks for the comment. I’m really digging the job so far, so thanks again!
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.
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!
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!
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!
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.
Whatever you decide Julie I wish you the best of luck. Thanks for the comment!