I've been taking a pay cut as my employer is struggling financially, and I already think I'm underpaid. Should I jump ship to another job with better salary, even if it is contract-based?

Some things to consider before switching:

1. Is the other company a stable company?

2. How easy it is to convert into perm staff?

3. How's the career progression?

4. Do you have emergency funds?

Hello,

It depends why your employer is struggling financially. If it is covid related and fundamentally the company you are working for is strong, you might want to try to stick to the company and wait out the situation as your employer might actually value you just that he or she does not have the financial means to give you your expected salary. Where do you see yourself in the company in 2-3 years. If you see yourself in the same position and earning roughly the same amount then you might want to consider " jumping ship" to another company that pays you better and values you better like the one you listed. While it may be contract-based for one year, if you do get the conversion to perm staff, the long term prospects may be better. Just my two cents. Sometimes it's not about how much you earn but what you can take away from the job...

Cheers!