Is it stupid to consider a role with a 5% decrease in salary (base pay)? I would be moving from audit to industry and that 5% would put me at the top of the salary band for the role. My thoughts are I can work my way back up and at least I can leave a toxic environment. It seems like a lateral move so I don’t think it will be more responsibility
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As a senior? You can do better. Many SMs and PPMDs are priced out of the market and often need to take a pay cut. If your environment is toxic, no amount of money is worth it. Stress kills. Especially in your 40s and up. Once you go to industry, I suggest jumping around every 3-5 years for progression and pay raises. That’s how I’ve seen people become CFOs (not through internal promotions). I’ve been in public accounting 25 years.
Solid advice
Anything less than 10% is a lateral move. I can’t fault you for trying to leave a toxic place. If it’s for the toxicity, please leave. Can you negotiate more?
I will take it. I have tried several months moving from audit to industry, and the market is tough right now. Especially if your current job is toxic - your health is more important. Just my opinion
Raises and promotions are generally slower in industry. So not only would you be taking a step back in pay now but you’ll likely remain a fair ways back of where you could have been Only you know the value of getting out of your current situation, but outside looking in it doesn’t make sense
Not stupid. If you can afford the decrease in pay, comp is reasonable for position, and it allows you to leave a toxic environment then worth considering.
Sounds like you are desperate to leave and taking a job that is beneath your skill, or the company just pays their people below market wages. Either way, unless you are joining a company that is a household name or in a specific industry that interests you, its likely you will regret taking this offer.
I personally don't accept payouts si ce I am the primary earner of my family. During the interview process people constantly try to offer me less than what I make and tell them look I am not considering the role because I will not take a payouts and I tell them my minimum. Everything the employer has matched or exceeded my request so that I will accept the role. So in a nutshell, I would not take it
Agreed entirely with the others. You would likely be stepping into a situation where you have to prove yourself all over again and it sounds like your income would guaranteed not increase for a couple of years… That being said if you really like the people and you happen to know them personally or have worked with them before and you know that you get along really well with them. It could possibly be a decent move, but the numbers say that’s probably not the case… Tough it out where you’re at . you can do it!!
Unless you truly don’t think you can mentally do another busy season (understandable) I would NOT take that offer. Strictly from a money perspective, if you’re moving into industry you should be looking for a pay increase (at least 10%), especially considering that your YoY raises aren’t going to be as high compared to public. I would grind out one more busy season and continue looking for industry roles after if that’s what you’re interested in. Hopefully the job market starts to take a turn in 2025 and better opportunities lie ahead.