Great insight on how to "Do the math" when figuring out if you should take a job with a lower salary. We always look at the bottom line and don't take the time to look at a different perspective.
What other perspectives or math have you done when choosing a salary offer?
Jim Durbin• Talent Acquisition | Recruitment Marketing | Remembering what it means to be human in the age of automation.
Candidates often struggle to "do the math" on an offer because they focus on top-line goals instead of monthly goals. Here's a situation. You have a $75k offer, but are used to making $100k. If it takes you another three months to find a $100k job, your earnings at the end of the year will be $75k. In your second year, you'll make $25k less. The math isn't based on these numbers. It's based on how much you have in savings, your monthly spending, opportunity cost, and your willingness to leave or stay at a company. If you stay 10 years and aren't promoted (you never count on promotion or raises), you lose $250,000. If you leave after one year for a $100k job you break even. It is possible to take a job at a lower level and salary and do fine. I did that, and it took me four years to get back to a salary level I thought was commiserate with experience. In that three years, I drastically altered my spending, enjoyed stability during a rough patch, and thrived. But I went into it with eyes open, glad I was even employed. The real challenge - is how you coach a friend on an offer without saying something as dismissive as "do the math."
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