facebookI just left my company last week without a job in the pipeline and I received a job offer from a company (same industry) but it comes at 17% pay cut. Should I take it up? - Seedly

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Anonymous

18 Apr 2019

Random

I just left my company last week without a job in the pipeline and I received a job offer from a company (same industry) but it comes at 17% pay cut. Should I take it up?

They are a personal finance portal in Singapore where users can compare different personal finance products like credit cards, insurance, and loans. Earlier this year they received a $10m Series B funding. They have great culture, new skills that would make me very marketable, they have a stringent hiring process (4 rounds) so I think the people they hire are of certain standard and that I would be working with good, talented people. I am single, no debts and no heavy financial commitments.

Discussion (9)

What are your thoughts?

Sounds like the pay cut is the only thing stopping you.

17% pay cut sound like a lot, to be honest, I wouldn't take it if i'm still holding on to the previous job. Maybe you need to compare the pay to standard market rate instead, hopefully, it makes you feel more comfortable about the pay given.

Since you already left the old company, and feel that this new one works for you. Then why not, especially if taking the job would make you more marketable if you decide to leave later.

Based on the information you gave, I will say, Why not? Go for it since you have already evaluated the pros and cons of this job and seems like, this is more to gain despite of the pay cut. I previously also accepted a job at a monthly pay cut of 10% but eventually I had an overall annual increment of 10% because of the company’s unique pay scheme structure.

Jonathan Chia Guangrong

Jonathan Chia Guangrong

01 Oct 2018

Level 12·Cybersecurity Trainee at Bank in blue

Look beyond the non tangible benefits. No doubt there's a lower pay, but do you think joining this company will be a springboard to something greater down the road? If so, sign on the dotted line! Do ask about other benefits as well, like equity.

All the best!

Jeff Yeo

Jeff Yeo

01 Oct 2018

Level 10· amateur Social contributor at School of social sharing

Personally I will not take a new job for a pay cut

assuming you perform average and the average pay rise is 2-4% it is a long way to crawl back to the original salary.

Unless you are a high flyer and can execute. in that sense you might get a pay rise and promotion that will quickly put you back in line or even better than before.

This is a question best answered based on your abilities to execute and network your way to the top.

HC Tang

HC Tang

30 Sep 2018

Level 13·Financial Enthusiast, Budgeting at The Society

Go for it!

Because :

  • you're single, no debts and no heavy financial commitment
  • New job woul...

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