4 ms·

Ask HN: Have you ever taken a pay cut in order to switch roles/industries?

13 points by arduinomancer 5y ago

If so what made you switch and how did it work out. Was it worth it?

santa_boy 5y ago
I took a 50% pay cut to go quasi-entrepreneurial in an area that interests me and allows me freedom to explore and pursue my interests. Exciting, stressful and financially very very uncertain.
togaen 5y ago
I went from a mid-six figure salary to basically zero because I wanted to do a startup. Unequivocally worth it.
mikewarot 5y ago
I was obsoleted out of a system administrator job. I later took up a job making gears, which was interesting, but a 50% cut in pay. It was clearly a mistake.
PeterisP 5y ago
Went from finance to ML academia. Worked out reasonably well, was a breath of fresh air after a very corporate environment; but I might possibly go back again in one way or another.
adenozine 5y ago
Not to switch industries, but I once took ~10k cut to go to a company that offered more than double the PTO time, and it worked out great for me back then. I don't think I'd take any kind of cut now, and I don't think I'd advise anybody to take a cut anymore, as things have gotten so volatile in the job world. It all depends. If it's right for your life, it might be the right thing to do. If you've got family and bills and loans, maybe just tough it out.
ungawatkt 5y ago
Not a switch, but I had two choices for my first job, and took the lower paying one by 10k that was closer to the field I was interested. Totally worth it, since I keep up with that first industry (computer modeling) as a hobby even though I later left, but pure money-wise it probably set me back a couple years of scaling.
avl999 5y ago
Not switching industries or roles but went from a FAANG to a regular tech company close to my hometown. Took a paycut but I am single, no house, no debt and no kids so it hasn't affected my lifestyle one bit, on the other hand my current job is much less stressful, more vacation time and easy going which has improved my overall quality of life. Would do it again.
hlieberman 5y ago
I took a low-five-figure paycut when I joined the United States Digital Service[1], but that's pretty expected. It's not the sort of job you do for money. It was incredibly worth it in terms of personal fulfillment, sense of purpose, and life-changing perspective. Economically, though, certainly not. [1]: https://usds.gov https://usds.gov
- worstestes 5y ago
  Is a college degree required for this kind of work? I’m a big fan of the USDS!
sethammons 5y ago
I took a 5% cut when I went to management. I'm taking a 30% cut going to a start up as a dev (no RSUs). I'm looking to be excited again. It would be financially smarter to stay at BigCo, but I want to enjoy the ride to retirement even if it takes longer.
high_byte 5y ago
I left for a job with half the salary. still not like I'm hungry for bread. much happier here now :)
khaiai 5y ago
I switched industries and roles by taking an entry-level position in a new industry. Took a pay cut, but new gig had way better benefits. 100% worth it. Got more raises so far then the entire time I stayed in the old role. Got better benefits and colleagues. Wish I did it sooner. What helped me in making my decision was comparing the industry and growth of my old role versus potential of the new one.

13 points by arduinomancer 5y ago

If so what made you switch and how did it work out. Was it worth it?

I took a 50% pay cut to go quasi-entrepreneurial in an area that interests me and allows me freedom to explore and pursue my interests. Exciting, stressful and financially very very uncertain.

togaen 5y ago

I went from a mid-six figure salary to basically zero because I wanted to do a startup. Unequivocally worth it.

mikewarot 5y ago

I was obsoleted out of a system administrator job. I later took up a job making gears, which was interesting, but a 50% cut in pay. It was clearly a mistake.

PeterisP 5y ago

Went from finance to ML academia. Worked out reasonably well, was a breath of fresh air after a very corporate environment; but I might possibly go back again in one way or another.

adenozine 5y ago

Not to switch industries, but I once took ~10k cut to go to a company that offered more than double the PTO time, and it worked out great for me back then. I don't think I'd take any kind of cut now, and I don't think I'd advise anybody to take a cut anymore, as things have gotten so volatile in the job world. It all depends. If it's right for your life, it might be the right thing to do. If you've got family and bills and loans, maybe just tough it out.

ungawatkt 5y ago

Not a switch, but I had two choices for my first job, and took the lower paying one by 10k that was closer to the field I was interested. Totally worth it, since I keep up with that first industry (computer modeling) as a hobby even though I later left, but pure money-wise it probably set me back a couple years of scaling.

avl999 5y ago

Not switching industries or roles but went from a FAANG to a regular tech company close to my hometown. Took a paycut but I am single, no house, no debt and no kids so it hasn't affected my lifestyle one bit, on the other hand my current job is much less stressful, more vacation time and easy going which has improved my overall quality of life. Would do it again.

hlieberman 5y ago

I took a low-five-figure paycut when I joined the United States Digital Service[1], but that's pretty expected. It's not the sort of job you do for money. It was incredibly worth it in terms of personal fulfillment, sense of purpose, and life-changing perspective. Economically, though, certainly not. [1]: https://usds.gov https://usds.gov

worstestes 5y ago
Is a college degree required for this kind of work? I’m a big fan of the USDS!

sethammons 5y ago

I took a 5% cut when I went to management. I'm taking a 30% cut going to a start up as a dev (no RSUs). I'm looking to be excited again. It would be financially smarter to stay at BigCo, but I want to enjoy the ride to retirement even if it takes longer.

high_byte 5y ago

I left for a job with half the salary. still not like I'm hungry for bread. much happier here now :)

khaiai 5y ago

I switched industries and roles by taking an entry-level position in a new industry. Took a pay cut, but new gig had way better benefits. 100% worth it. Got more raises so far then the entire time I stayed in the old role. Got better benefits and colleagues. Wish I did it sooner. What helped me in making my decision was comparing the industry and growth of my old role versus potential of the new one.