How much of a pay cut is too much? Personal opinion

[raecudzy1]

Hi all,

I am just wondering what you personal opinion is on how much of a pay cut is too much? Say you're unhappy in a job and you want to get into something else, or get back into something you used to do - if you knew there were a pay cut, how much lower would you go? Assuming you could afford it what would the limit be for a pay cut if you thought/knew you would be happier in a position?

Thoughts?

[raecudzy1, BSN]

That is a tough question. I took a pay cut to change careers into nursing but I am catching up. I hated my old career and love what I am doing now. The important thing is to be able to support yourself and loved ones, and be able to put some money aside for a rainy day, and retirement. If you cannot do those things, you are operating in a deficit.

I conpletey agree with you!!!

[sallyrnrrt, ADN, RN]

It is an age related, (hate to say that)....... And adequate financial planning, source of other income, as my 100% calf crop, (30-40 calf/yr), from our cattle ranch, the fact I have been doing this 45yr as RN, and I'll be 68 in March......the integrative physician office hours are great...( mon.,tue.,Thursday, Friday, and one or two Saturday mornings./ month..... Very liberal holiday off.....great 401k plan, free, primary health care.....I work at about 45% , less than I would make in acute care, but it's days, no 12hr shifts,, I still have acute care game, but physically, and darn less stress...... I'm blessed, I don't have to work, but enjoy and want to......

plus at my age, and work experience I can now collect social security.....without income restrictions.....but I do not acknowledge my doc.security benefits......I use them as a savings backup

i would answer this this totally different decades ago.....

[Meriwhen, ASN, BSN, MSN, RN]

I would definitely accept a pay cut if I were really unhappy in my current job. (I am not unhappy now.) I spend too much time at work to be miserable. I would rather live a more frugal lifestyle and be happy -- than make more money and be miserable.

As long as I could have a safe home and life's basic necessities -- and enough to save some money for retirement and emergencies -- I would take a pay cut.

This. If I was truly miserable, even a drastic pay cut would be more than worth it. Even if I had to work two jobs to escape a truly miserable one.

I'm lucky though, at least for right now: I'm working a job that I love and am being paid ridiculously well to do it. Hopefully things will keep going well there.

[bear94, BSN, RN]

Your new rate is actually higher, imo. My time isn't free so I add in my drive time into my hourly calculations when it exceeds a reasonable commute to another job. For example in your case I would divide your present shift salary by 9.5 hours or 13.5 hours (90 extra minutes as compared to your new 30 minute commute) so if you did an 8 hour day at previous job you were really only making $21.47 for night shift and if you did a 12 hour shift it would be $22.66 an hour-if my math is correct.

Your calculations make me feel a bit better about taking a pay cut! I am hoping the 90 extra minutes I get back from not commuting will make a difference in my life.

[bear94, BSN, RN]

This is a perfect example to me where it makes sense to take a pay cut as long as it's not colossal. 15 minute commute is so much better after 12 hours than an hour! I've done both and for over two years my life was dominated by a 75 minute commute one way. Whatever extra money you make you have to spend on gas. I now have a 10 to 15 minute commute and sometimes only fill up once a month if I don't have any out-of-town trips.

For the past 4 years I have been commuting an hour one way and it's been awful, but especially for the past 7 months I've been doing 12's. Can't take it anymore. It's going to be very weird getting home right away from work. Ive never had that "luxury." 😂

[caliotter3]

In almost 30 years of nursing I have never had more than one genuine pay raise with any employer and that pay raise only came about because of the union contract. I have reached the point where I have turned down offers when facing long term unemployment countered with pay offers commensurate with nursing assistants and horrendous commutes to boot. You can't get to work X number of miles away when you literally have no money to put gas in the car. There comes a time when you have to stop playing the patsy.

[Buyer beware, BSN]

OP,

If the assumption is that you could afford it, a pay cut is OK but only based on the factual realities that you are making a definitive quality of life move.

But again, and it can't be emphasized enough, you must ensure to the best of your ability that the grass will be greener or else a job is a job and as Cuba Gooding jr. says in Jerry McGuire always "show me the money!"

[Marisette, BSN, RN]

OP,

If the assumption is that you could afford it, a pay cut is OK but only based on the factual realities that you are making a definitive quality of life move.

But again, and it can't be emphasized enough, you must ensure to the best of your ability that the grass will be greener or else a job is a job and as Cuba Gooding jr. says in Jerry McGuire always "show me the money!"

So true. I accepted a pay cut for what I believed to be a less stressful job, and it turned out not to be the case for me. The grass is not always greener, just because you take the pay cut. I don't think it's wise to take a pay cut greater than $3.00 dollars unless you are already employed with the new employer and know that pay cut will provide the change you are searching for.

[MelissaC71]

I took just over a 5.00 an hour pay cut, not including shift diffs and I don't regret it. My stress level is way lower, I enjoy my job immenslely, it's challenging and I am appreciated. That 5 bucks an hour was well worth it.