Is a pay cut of 20-40% normal? What can we do if we get retrenched? - Seedly
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Anonymous

Asked on 28 Nov 2020

Is a pay cut of 20-40% normal? What can we do if we get retrenched?

Paycut 20-40% is it Normal? What can we do? If retrenchment

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    NEW2021

    NEW2021

    Level 3. Wonderkid

    Answered on 29 Nov 2020

    Depending on the industry you are in and your pay grade. I know of someone who works in a yacht club with an assistant manager pay grade having 10% reduction in pay in 2Q2020 but it has since been adjusted back.

    40% is not normal, unless you work in the airlines or travel industry. I’d say if you have transferable skills, look for a new role in another industry. Otherwise, maximise your time to learn a new skill (eg trading) or look for a new source of income.

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