changing jobs - 100-200k less

[Anonymous]

I am currently in a niche field with a title of Chief ____ Officer at a small organization. Pay is great (800k), work-life balance is great, but the culture is toxic (think retaliation, passive aggressiveness, and gas lighting) and I have not yet been able to achieve what I have wanted to in the 8 years I have been in this role. I do not foresee this changing in the next 2-3 years.

An opportunity exists to move to a much larger, prestigious organization in a VP role. The work-life balance will be good (not great), culture will be great, but the pay will be 100-200k less. Much of the "stress" of leadership in a c-suite role will be removed.

Any thoughts about my predicament?

[Anonymous]

Of course you go! 600k is still a lot of money, and it sounds like you have had 8 years of that salary so should be financially strong?

Prestige org, great colleagues, non toxic work environment, why wouldn’t you. You don’t know what you don’t know…thus could eventually lead to another great opportunity one day. You know staying where you are will yield exactly the same.

[Anonymous]

How are you so sure the culture will be great? Especially if work life balance is worse?

[Anonymous]

I’m not the same income bracket, but quit an incredibly toxic job and started a new one making almost $20K less. I love my new job and am so much happier without the stress and toxicity of my previous job.

[Anonymous]

$800K down to $600K is not a life changing amount of money. You don't even need to change your lifestyle, if you're currently living within your means. The only difference is less money going into your after-tax brokerage account or kid's 529.

If you think it will make you happy and improve your mental health, go for it.

The only thing I'd want to ensure is that the new company is financially stable + the job is stable. If new company decides to do a re-org in one year or change leadership, you're probably one of the first on the chopping block.