Job seekers often expect the salary for a new position to match their previous salary. The first reaction may be to reject an offer that pays less and hope that something better comes your way. But there are other considerations that should be part of the decision-making process. In the final analysis, accepting a lower salary may be the best choice for you.
First, you need to be sincerely interested in the work you will be doing. If you are not enthusiastic about the job, you may find yourself unhappy and once again among the unemployed. Passion about the work will create energy and you will look forward to going to work each day. When your heart is engaged in the work, life will be less stressful and in its place you will find a sense of satisfaction and true accomplishment. Next, you need to consider the opportunities for advancement within the company, job location, and commute time. You should factor in potential career growth and available paid training, vacation and insurance benefits. What about other perks that may be important to you? Does the company offer flexible work schedules?
Everyone has a minimum income need but as you evaluate your own situation, be sure the minimum requirement represents needs not wants. Although accepting a lower salary may feel like a step down, it may actually be the gateway to more opportunities. You may meet people who open doors for you that have a major positive impact on your career. You may be able to add new skills to your resume.
At one point in my career, the owner-bank closed the majority of its mortgage company operations. To remain employed, I would have been required to relocate to another state. I decided to explore local options before I accepted the out of state offer. Within a week, I received a job offer at a significantly lower salary. But when I examined the whole picture, the new company had great opportunities for advancement. I said a prayer, took a deep breath and said "yes" to the job offer. It felt right but, of course, negative thoughts ran rampant – "are you crazy", "what if you can't pay the bills" – and it took a conscious effort to turn off these toxic thoughts and ideas.
About a year later, I was promoted to a management position with a substantial salary increase. Another six months passed and a new department was created, and I was again promoted to head that department. The second promotion included another salary increase and a bonus! At that point, my income had surpassed my previous salary substantially. My situation occurred several years ago and the job market was very different than the current situation, but the decision making process should be the same.
Around the time I moved to the new department, I spoke to my former boss. She had accepted the out of state offer but was now unemployed. The bank had closed all mortgage operations! I had definitely made the right decision.
Many times career moves that initially appear to be set backs are actually set ups for improved come backs. A job with less money can hold opportunities for a bright future. Often fear interferes with our decision and we fail to realize that the higher salary may not be the best option. If we accepted the position because we enjoy the work itself, the promotions and/or salary increases are icing on the cake. Not only are we fulfilled, our bank account has seen improvement. You owe it to yourself to give every job offer serious consideration and weigh the entire package before you reject a job based only on the initial salary.
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Mel Otero, author, worked in management in the mortgage banking industry and title insurance industry for over 25 years. She has started web sites and written articles to provide information, resources and inspiration during this difficult economy. She loves to write, learn, and share information. Always seeking and exploring new ideas and methods of achieving the goals that bring health, wealth and happiness and continuously sharing the new insights and information.
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