Dawn Dugan specializes in writing books, articles, white papers, reports and special communications for the human resources industry. She is the co-author of Effective Executive Compensation, which was published by AMACOM in 2008. Read more...
Believe it or not, there are situations in which one step back on the salary path can yield two steps forward.
If you believe taking a pay cut will yield greater opportunities in the future, go for it. It makes sense to take a step backward if you are moving from a small organization to a larger one with more job opportunities, a more robust organization, or an industry in which you bring your skills and experience, but no industry-specific expertise.
To determine if taking a pay cut is worth it, take a look at what the future may hold. Making less money may be a tough pill to swallow short-term, but hard work and advancement could have you earning even more than before in a fairly short amount of time.