Would you take a large pay cut for more job security??

[CanBeGrumpy]

Dh works for company "A", the future of which is uncertain (i.e. involves the awarding of contracts, etc.) He has been with "A" for 15+ years and is highly respected. He has a job offer from company "B", but it involves a LARGE paycut. The position at company "B" has the potential to be more secure as time goes on, but of course, starting out as "the new guy" is always somewhat risky. The lower salary at "B" is "enough", but we were really just starting to get comfortable with being a little reckless with money due to the salary at "A". (Reckless for me is ordering a $2 soda in a restaurant instead of getting water for free! )

Dh and I are both practically having strokes trying to make this decison--he says his heart is beating erratically all the time (note: he has seen a cardiologist before, who said it is just stress). We have until Monday to decide. He likes the work at both jobs. The job at "B" would be less stressful, but also probably a little boring at times. The job at "A" carries some prestige, and he is very well thought of there.

I really see either decison as a gamble of sorts, with "B" having the possiblity of more stability but "A" offering a lot more money. We expect the job at "A" to last at least another 4 years, and possibly longer. I know this really isn't much info, but I was hoping to tap all of your brains for advice, just in case we haven't thought of something. Thanks for any insight you might have!!!

 

[Kimberle]

No. Because there is no such thing as "job security". You need to always keep abreast on the job market and keep yourself marketable. Companies have lay-offs all the time. They are bought and sold. If you take a big paycut now, and he's laid off, he'll have a much harder time getting his "lost ground" back. Better to keep looking for something he really wants and meets your families needs.

 

[inaminute]

If he's happy where he is (and it sounds like that is the case), then I'd recommend staying for at least a couple more years. He should have a better idea whether new contracts will be awarded.

It's a tough decision. Good luck!

 

[The Mystery Machine]

Would you take a large pay cut for more job security??

Nope, no, nada....Job security? That is a laugh. That does not exist.

If he is contemplating the job offer solely on this basis it has to be NO!

Now if it is for other reasons, that is different.

 

[Snowysmom]

As the others have said, there is no such thing as job security any more. If he is comfortable at Company A and likes the job, why not stay there and bank any "extra" money that you can so you will be prepared in case something happens to his job. If he sees himself there for at least 2 more years, that gives you some time. Also, he can keep his eyes and ears open to any news of impeding problems and start looking if he thinks things might go bad for him. Good luck whatever you decide.

 

[LoraJ]

I think he should stay where he is. I know I would.

While the new job may have potential job security, if anything happens to the company, in many cases, it's the new guy who gets cut.

 

[mickeyfan2]

I would stay with company A and invest the pay differential for retirement/rainy day.

 

[drakethib]

No. Because there is no such thing as "job security". You need to always keep abreast on the job market and keep yourself marketable. Companies have lay-offs all the time. They are bought and sold. If you take a big paycut now, and he's laid off, he'll have a much harder time getting his "lost ground" back. Better to keep looking for something he really wants and meets your families needs.

ITA.

Job Security is a thing of the past.

 

[CanBeGrumpy]

Thanks to everyone for their replies! Anyone else care to chime in? So far the score is 7 to 0 in favor of staying put and "riding the cash cow"! Dh is leaning slightly toward taking the pay cut because the work at company "B" is more in line with what he wants to be doing. But, he isn't unhappy at company "A" and the extra money sure is nice. Good Golly, this is sooooooooo hard!!!!!! Thanks again for the replies! I told Dh to pick the job that would make him the most happy, as we can live on either salary, it would just be a lot more fun on the bigger salary!!