The Puzzle: Blog

When you begin the search for a new job, your expectations for that perfect position are probably set pretty high.  In the dream-school you’ve concocted, you’re teaching your favorite subject, instructing curious and motivated students, and engaging with thoughtful and talented colleagues—all on a beautiful campus mere minutes from your home.  Oh, and you’re making considerably more money, of course.

In reality, a new opportunity may in fact offer many of these positive attributes.  But what happens when everything aligns with your ideals—except the paycheck?

It’s not the situation anyone hopes for, but it might arise: what should you do if you’re presented with an excellent opportunity, but you’ll have to take a pay cut if you accept the job?

Consider the Perks

First things first: if the perks of the new job outweigh the cons of a lower salary, you might decide it’s worthwhile.  When discussing your salary with the hiring contact, you hopefully asked about benefits and cost of living in your new area.  If, for example, a school offers you $5,000 less than you’re currently making but you’ll end up saving $15,000 in housing costs, then you’re still netting more money saved in the long run.  Carefully consider factors like healthcare, tuition reimbursement, on-campus housing and meals, and area cost of living.  You might find that your adjusted income is equal to—or greater than—the one you’re currently making.

Consider Quality of Life

Even if you’re not netting more in benefits and cost of living adjustments, consider your quality of life.  If you want to leave your current position (or if you’re a career-changer moving from a more lucrative career track to the bright-eyed, bushy-tailed, lower-paid world of education), it’s probably for a reason.  It could be something as small as the commute time between home and school or as major as feeling like you don’t gel with your current school’s mission.  If you want to leave, consider your happiness in a new position.

Try to channel that feeling you had when you left campus after your sample lesson.  If it was one of breathless exuberance, you might have found the right place for you.  If you’re so excited about the new school—whether it’s because of the leadership, the colleagues, the kids with whom you interacted, the curriculum, or what have you—that you can’t stop thinking about it, you might decide that that added happiness outweighs a smaller paycheck.

Consider Your Career Path

Do you feel like you’ve reached a dead-end at your current school?  Maybe you don’t agree with current leadership, or the higher-level opportunities seem pretty locked up.  If this is the case, then it might be worthwhile to take a pay cut for a year or two so you set yourself up for the opportunity to advance in a different environment.

When considering a new position, think about your opportunities for advancement.  See how your prospective colleagues have developed, and think carefully about the direction in which you want your career to go.

Make a Budget

Last (but certainly not least), you need to figure out if you feasibly can take a pay cut.  If all the other factors have swayed you toward this lower-paying position, sit down and draw up a spreadsheet of your expenses.  Consider costs such as housing, childcare, monthly bills, and long-term saving.  See if you can make it work on your new salary, and consider areas where you can cut costs (a reduced cable plan, for example, or fewer dinners out) as well as areas where you can’t.  If your new budget won’t put you in the red, then you’re set.

Salary issues are some of the most frustrating parts of a job search.  While it might not be ideal, sometimes taking a pay cut is not the worst option, though.  Let us know: have you taken a pay cut?  Why, and how did you manage?  We’d love to hear!

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