Comments on: Short term loss for long term gain http://www.punchdebtintheface.com/2010/01/short-term-pay-cut-long-term-gain.html A fun personal finance blog Sat, 11 Feb 2012 04:21:35 +0000 hourly 1 http://wordpress.org/?v=3.3 By: eemusings http://www.punchdebtintheface.com/2010/01/short-term-pay-cut-long-term-gain.html#comment-3901 eemusings Tue, 02 Feb 2010 16:55:53 +0000 http://www.punchdebtintheface.com/?p=922#comment-3901 Honestly? Not right now, I couldn't do it. I don't make a whole lot right now (<35k) and am helping to support my partner as well. Only you can make the call for you though. But if it really is your DREAM job....weigh it up carefully. Honestly? Not right now, I couldn't do it. I don't make a whole lot right now (<35k) and am helping to support my partner as well. Only you can make the call for you though. But if it really is your DREAM job….weigh it up carefully.

]]> By: Financial Samurai http://www.punchdebtintheface.com/2010/01/short-term-pay-cut-long-term-gain.html#comment-3840 Financial Samurai Sun, 31 Jan 2010 05:03:28 +0000 http://www.punchdebtintheface.com/?p=922#comment-3840 Tough to say... $20,000 less is A LOT given you are only making 65K. A voluntary 32% paycut is not something to just throw away and accept. Can't you just ask them to start you at a higher level given your experience? I'm telling you now that it's going to feel bad being older, and making less. You might get very bitter looking at guys your age making 43% more than you (45K vs. 65K). If you want to work a long time, go for it. Tough to say… $20,000 less is A LOT given you are only making 65K. A voluntary 32% paycut is not something to just throw away and accept.

Can't you just ask them to start you at a higher level given your experience?

I'm telling you now that it's going to feel bad being older, and making less. You might get very bitter looking at guys your age making 43% more than you (45K vs. 65K).

If you want to work a long time, go for it.

]]> By: Bucksome http://www.punchdebtintheface.com/2010/01/short-term-pay-cut-long-term-gain.html#comment-3836 Bucksome Sat, 30 Jan 2010 14:11:01 +0000 http://www.punchdebtintheface.com/?p=922#comment-3836 I took a pay cut (not as significant as what you're considering but a few thousand) for the job I currently have and have never regretted it. Like you, I knew the new position had greater earning potentials and hoped it would personally be more fulfilling. It was and continues to be. I've been at the "new" job now for 15 years. My advice is to go for it which I would guess is the way you're leaning. Why else go through all these hoops; not just to turn it down! I took a pay cut (not as significant as what you're considering but a few thousand) for the job I currently have and have never regretted it. Like you, I knew the new position had greater earning potentials and hoped it would personally be more fulfilling. It was and continues to be.

I've been at the "new" job now for 15 years. My advice is to go for it which I would guess is the way you're leaning. Why else go through all these hoops; not just to turn it down!

]]> By: PunchDebt http://www.punchdebtintheface.com/2010/01/short-term-pay-cut-long-term-gain.html#comment-3822 PunchDebt Sat, 30 Jan 2010 01:43:25 +0000 http://www.punchdebtintheface.com/?p=922#comment-3822 You are right sir. An 1811 it is :), I took the LEAP in to effect for the number I provided above. You are right sir. An 1811 it is :) , I took the LEAP in to effect for the number I provided above.

]]> By: FinCatastrophizer http://www.punchdebtintheface.com/2010/01/short-term-pay-cut-long-term-gain.html#comment-3809 FinCatastrophizer Fri, 29 Jan 2010 23:06:16 +0000 http://www.punchdebtintheface.com/?p=922#comment-3809 I once took a paycut for a great opportunity. However, my paycut was much smaller since it was at the start of my career. I went from $45,000 down to $35,000. It took me two years to return to the higher income but after 4 years I had risen up to $65,000! For me, the opportunity was totally worth it. BUT, I hated the job I left so I wasn't really risking much there. I also knew that going in they would teach me alot and provide me with educational opportunities. It has greatly helped me in my career so far. Take the opportunity if you think it will be great. I once took a paycut for a great opportunity. However, my paycut was much smaller since it was at the start of my career. I went from $45,000 down to $35,000. It took me two years to return to the higher income but after 4 years I had risen up to $65,000! For me, the opportunity was totally worth it. BUT, I hated the job I left so I wasn't really risking much there. I also knew that going in they would teach me alot and provide me with educational opportunities. It has greatly helped me in my career so far.

Take the opportunity if you think it will be great.

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