Good job but 50% paycut
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Anonymous
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Considering a move. New job is attractive in many ways, but comes with a 50% paycut. Probably no way to increase salary substantially in the new position, so would need to be comfortable with reduced salary or be prepared to move again to make more.
Current job is fine, but wondering about opportunities to expand. |
Anonymous
| what is your question? we know nothing about your current job, new job, current salary, new salary or what you do. other than that, all sounds good. |
Anonymous
| Q is whether anyone would take a 50 percent paycut to potentially expand a bit professionally when you don't have a real issue with your current job. |
Anonymous
| It depends on your circumstances. I couldn't and wouldn't. |
Anonymous
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OP here. Currently in biglaw. New job is in-house.
Paycut could be managed, but it would hurt a bit. |
Anonymous
| No way. You will always regret the loss of income. |
Anonymous
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This is only an option if you currently need less than half of your paycheck to cover bills and meet your savings goals.
I would consider it if the new job required half as many hours and I didn't need the money. |
Anonymous
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The advice from my Dad was to work for employers with money and/or marry a family with money. I wasted a decade doing "important work" for a "cause I believed in" for "good people." And all I got was a pile of debt and a cranky spouse (whose family did not have money).
I finally came around to realize that the quality of my work and the importance of the mission have little to do with how much I get paid. Follow the money. There is no way I would consider a job change that would cut my pay in half. |
Anonymous
| Plenty of people take this kind of cut for gov work and didn’t regret it. (Pre doge). |
Anonymous
| This is a standard transition, Big Law to in house. I’m assuming you are not an equity partner as your salary is so low relative to the in-house role. |
Anonymous
| Are you a partner or not a partner? That will affect my answer. |
Anonymous
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Also, are we talking $300k to $150k, or $750k to $350k, or what?
What area of law are you practicing in and do you expect it to be a growth area that can weather whatever economic hard times are coming? How is your book of business? Is the in-house job at a corporation you think is going to be around for a long time? Etc. We can’t possibly help you answer this question without more detail details. |
Anonymous
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Totally useless post.
“Found a house. It’s okay. Current one is okay too. Should I buy the new house ?” Seriously, go eat a bag. |
Anonymous
Do you want to do biglaw for the rest of your career? You’re framing this as a salary issue when really it’s a career path issue. |
Anonymous
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Since you already made the big bucks and invested the money into millions, take the pay cut because the money in the market gives you the other half plus it's taxes way less. Plus, you know how to invest now and should easily do 20%+ a year.
You did invest the money, right?! |