would you take a 20,000 pay cut?(update)

[tassie42]

My dh lost his job at Lucent in March. He's had a lot of phone interviews and one face to face interview a few weeks ago. he's a systems administrator (computers)

Some of the jobs in the interviews seem like they pay about the same amount as what he was getting before. But a lot of them are way less. He talked to a head hunter today that said he was up for a job that was 20,000 less plus no health ins or vacation time, and he told me he was actually thinking of taking the job if they offered it!

His reasoning was, at least he would have a job. but I think he should wait to see what else he can get. He got a big severence package, we only pay a small amount to keep our health insurance for 6 months (about $300) and we took out unemployment ins on our mortgage about a year ago when the lay offs started.(they will pay our full mortgage and taxes for 6 months) plus he is receiving unemployment checks.

I think we have enough $$$ to last about 9 months to a year with the stuff I mentioned above and our savings account. but we are both afraid all the other offers will be less money too.

I hope this makes sense... My question is.. what would you do? wait it out or take the job?

Thanks for listening sorry so long!

 

[Dizzy-Disney4]

Well I don't know...its tough out there right now. My DH just took a job making 10,000.00 less, but he is happy so I guess thats important. Your DH may have to take a bit less than what he made before just because of the way things are right now, but the insurance...YIKES that would scare me.
Good luck, its hard I know.

 

[snoopy]

Now is not the time not to have a job. I'd take the job, and keep looking for a better one. You'll want to put away as much of that severance as you can, and a job paying $20,000 less is better than nothing at all.

 

[Jasminesmommy]

My husband took a small pay cut and we moved to another state and figured we would move back when another job came along but my husband got lazy and the head hunter doesn't want to get him another job so if you can swing it I would wait a while longer but I wouldn't spend all the money you never know what might happen. $20,000 is alot tell him to go on the interviews they may pay more if they want him.

 

[Toby'sFriend]

not with no health insurance and lousy benefits -- unless I was really desperate. It doesn't sound like you guys are desperate yet.

Hang in there. It is really common to take 4 or 5 months to find a job.

 

[helenabear]

Um, based on what happened to us in 2001, yes I would probably take the job. Of course I would keep on looking, so at least it would be a salary and better than nothing. And really if I get laid off from my job, heck yeah would I take that pay cut! Acutally if someone offered that to me now, I would definitely take it and get out of where I am Seriously I would take it and keep looking. My husband did that and it allowed him to take the time he needed to get a really wonderful job he curerntly has.

 

[Robinrs]

I did....

 

[tassie42]

thanks guys it helps a lot to know theres other people in the same boat! my dh isn't feeling too great about himself these days. We thought we'd aready been through our poor struggling years but I guess not!

 

[poohbear1029]

Only you guys know what is right for your family situation, but I will say this...sometimes an already employed person is more attractive to potential employers.

When we moved briefly a couple of years ago, I lost my job and took a job in a different field for a sizable paycut...about 40%. It was hard, but we needed the income.

 

[Tony-NJ]

Snoopy said it best. I guess it would depend on the circumstances and finances. Good Luck! It's a tough time out there for most!

 

[jfulcer]

Around here if he were on unemployment and turned down a job offer he may lose the unemployment. They may give an exception since it was such a large pay cut.

I would check with your unemployment laws, especially the rules on your unemployment ins for your mortgage.

 

[keirgrey]

Originally posted by jfulcer
Around here if he were on unemployment and turned down a job offer he may lose the unemployment. They may give an exception since it was such a large pay cut.

I would check with your unemployment laws, especially the rules on your unemployment ins for your mortgage.

I believe that is the case here in NJ too. At least one of the questions in the bi-weekly unemployment questoinairre is "Have you turned down employment?"

I haven't been offered a job yet. I haven't had the interview yet. I am being submitted by a contracting house in NJ for a position as a sys admin at this company. The pay they are offering the contracting house is ~$20K less than I was making at Lucent, no benefits.

 

[Disney Doll]

I would probably take the job and keep looking. Also, oyu never know. Maybe the job he gets hired for will be a $20K pay cut, but there may be another terrific job in that company that he will hear about once he's employed there, ther could be networking to be done etc.

Less money is better than no money.

 

[snoopyandpooh]

I would say take the job, at least you won't have to dip into you savings for now. He can still seek a better opportunity while working, right? Anyways, good luck with your decision!

 

[Ragmop]

Originally posted by Disney Doll
Maybe the job he gets hired for will be a $20K pay cut, but there may be another terrific job in that company that he will hear about once he's employed there, ther could be networking to be done etc.

.

Yep! My brother took a not-so -great night job in a company dealing with their computers. 6 months later he wrote a proposal suggesting how to improve things, that proposal got him hiredas a programmer. he later married one of the owners, they bought out the other owner, and a few years later sold the company for $$$.

Ya just never know!

 

[DSNY FN]

I would take the position if offered Ihave found it easier to find a new job when allready having a job than looking for one while out of work.

 

[The Mystery Machine]

A man working feels better about themselves than unemployed. You have that whole psychological impact thing going on.

Election year, I say take the job. People probably are done hiring for awhile.

 

[Jillpie]

I froze when I read the title of your post. We were in your exact same shoes for eight long months last year at this time. I sure do understand every moment of what you are going through. My DH lost his job the day before Thanksgiving (nice, ha?) and didn't find one (Sr. PA) till August. He spent every minute of his day on the computer searching, sending out countless resumes. Do you know how he finally landed his current job? An open house at his company. And he didn't fit the entire job description (most of it). So go to anything you see advertised like that and get your foot in the door. Tell EVERYONE you see you are looking, church, store, walking to the park, everyone. People are awesome. They took his resume all the time and tried to help. We understand how you feel.
So, to get to your question. Would taking this pay cut mean you'd be making less or more than unemployment benefits? We actually survived on a 50% paycut living on unemployment, and no severance. It was amazing realizing we could live without pizza every week and many other perks. I would say, probably take it. It would get you up in the morning and working with other people again and helping you to network. It would give you more connections to a better job.
I cried many tears last year. He was the one out of work, but he was my rock, never fearing the worst. I was the one scared out of my mind. I prayed constantly. It all worked out. It will work out for your husband too. The right job WILL come. Have faith.

 

[kild]

Cout me as another one that went through the same thing last year. I lost my job the week of Thanksgiving, someone in India found it. I am a systems admin as well.
I was out of work for 9 months, I lied on my application and took a desktop support job. Almost exactly a 20k cut in pay. I didn't start looking again until recently. The market is better now than it was this time last year.

Good luck with your hunt and hang in there. I know how you feel.

 

[tinaluis]

I know I'm in the minority here but I say wait it out a little. No benefits and a $20,000 pay cut just isn't worth the trouble IMO. As long as you can swing your payments on unemployment insurance and don't have to dip into savings too much, I think you should wait things out. Just my $.02.