If you’re considering a new job offer with a lower salary, money isn’t everything (but it is everything).
Let me explain.
Say the new job pays $15k less than what you’re on now.
There might be a lot of non-financial reasons why you’re drawn to it.
Enough that you convince yourself the $15k cut is worth it.
The problem with this approach though, is that you’re not considering the remuneration policy of the new job.
Because if you stay on that lower salary, you’re not just losing $15k this year.
You’re giving it up every year you stay.
And that will add up.
Put another way, how long will you have to wait until this new job raises your salary back to what you were on before?
And remember those non-financial benefits in the new job that you’re really attracted to?
You’ve got to be confident they’ll actually show up.
Because you’re stepping into the unknown, while locking in a lower salary from day one.
That’s why money isn’t everything … but it kinda is everything.
Don’t downplay the pay cut just because it doesn’t feel huge right now.
It will add up. And you’ve got to be sure it’s worth it.