I wouldn't take a 50% pay cut without some EXTREME circumstances. Your circumstances don't quite sound extreme, especially since others are saying a bank job is not really a happy place.
Keep the job hunt alive, use some of your extra income to do some stress relieving things (spa, weed, etc).
Get that weak shit off my track
How about you only work every second week?
Goof off 2 whole weeks a month!
That's what a 50% pay cut means!
Pay rises are hard to get at the moment, I wouldn't be changing jobs in the hope that you might get one sometime.
Taking a half of your salary, the new job needs to double it to get you back to your current level.
Do you think they would give you a 25% pay rise most years?
What if it takes 4 years to get back to your current level. Even with another 25% or more it would take a few more years to get back to the total amount you could have earned in this job.
Definitely change to a better job, more opportunity, less crap.
But halving your pay is a huge risk and burden to do it.
I take half pay for half the hours and half the stress. That's the lowest I'd go.
Bullshit wanky advice: Visualise where you want to be in 10 years time, think about the steps to get there, follow that path regardless of short term pain. Sucking it up for a couple of years is nothing compared to 20 years of being where you want to be.
Actual practical advice: A 50% pay cut smells like desperation to me. It absolutely sounds like you should be looking for something new but you don't have to grab at the first offer you receive. To me it sounds like the opportunities the bank job offers aren't in line with the sacrifices you'll be making so by all means keep looking but make sure you're getting somewhere and not just somewhere else.
Oh ok.Originally Posted by shakes
Well...wish I had some useful advice for you. I guess if you can make a career change and still stay afloat financially, even with a substantial pay-cut, then it's worth taking the shot. I would guess that banks are a safe bet for stability...(not too sure about advancement).
Good luck.
Thanks all for the advice. I still haven't made a decision one way or the other but there are some good points that have been raised that need to be considered.
Even if you are happier momentarily, it will probably be harder to move back up. Especially when companies see that you had a higher job and moved down the ladder. That's going to create some questions as to why you went backwards. Couldn't he handle it? Too much responsibility? Make too many mistakes? etc...
I'd keep looking if I were you. I don't think I've ever taken a pay cut. When I've been unhappy with a job I'll keep looking until I find something similar or higher. There's got to be something in a similar level as what you are making now, or at least within 10%. I wouldn't take a pay cut and move further down the ladder, unless you don't have a job at all.
You need to try for Hyundai Canada HQ. Any position. Wear your passion on your sleeve.
The best thing I ever did, both emotionally and financially, was to take a backward step in terms of salary and put myself in a job I enjoyed, working with people I genuinely liked, and tore the arsehole out of it. The company now has 7 times the staff and about 10 times the revenue as it did when I started and I was in the thick of it every step along the way. Never be afraid of taking a 'backward' step as long as it's taking you to where you really want to be.
Add me to that list, I took I pay cut to leave the IT Industry and start working in auto parts. I have never been happier.
But 50%, holy shit son.
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