6 Reasons to Take a Salary Drop

Not everyone is motivated by money but it’s still an important factor when deciding on a job or career. It’s natural that people want to be paid what they’re worth, and they will expect their salary to grow as they gain more skills and experience.

However, there are some situations where choosing to take a drop in salary is not only acceptable, but it’s actually the right move in the long-term. Here are some examples:

Career Change

Moving into a completely different line of work may mean that you must start all over again. Being at the bottom of the ladder may mean a lower salary than you are used to but at least you’ll be working towards the career of your choosing, if not your dreams.

Returning to Studies

Going back to college or university (or going for the first time) may feel like a backward step, but it’s only a temporary measure. While you will have fewer opportunities to earn during the period of your course (due to studying, exams etc), achieving a new qualification will hopefully benefit you more in the long-term.

Dropping Hours

Creating the perfect work-life balance isn’t always easy and sometimes, something has to give. While some workers lose out financially by making a small reduction in the number of hours they work, they gain by having peace of mind and more control of their lives beyond the workplace.

Changing Shift

Some roles provide allowances for working ‘anti-social’ hours, such as weekends or nightshift. While the additional financial rewards will be welcome, permanently working such shift patterns can be mentally and physically demanding. Moving to a role with more ‘traditional’ hours may be more beneficial to some than the increase in their salary.

You Want Less Responsibility

There may be points in your career when you decide that it’s time to take a step back. It may be that a senior management role or some other demanding post that could also include long hours, high pressure or extensive travel. Amending some of your duties, or changing job altogether, could be the answer.

You’re Miserable

If you find yourself deeply unhappy because of your job, to the point where it impacts on life away from the workplace, then it’s time to act. Moving to another post may result in a lower salary, but if it benefits your mental health, then it’s for the best.

New Job or New Career?

“That’s it! I’ve had enough.”

After another awful working day, you’ve decided that it’s time for a change. You’re ready to move on and leave your current employer behind.

While there’s nothing wrong with that way of thinking, it’s important to know what type of change you need. Is moving to a new organisation for a similar role enough? Or is it time to consider a full career change?

The following factors will hopefully steer you in the right direction.

It’s Time for a New Job When…

You don’t like the organisation

It might be the culture, the terms and conditions or the actual working environment. Some people love their job while hating their employer.

You don’t like the people

Not every workplace is one big happy family. If you don’t get on with your colleagues or the boss is a nightmare, it’s time to move on.

Location is a problem

A long commute can be a nightmare, particularly with busy roads or poor public transport. For others, working from home can be the problem.

There’s a glass ceiling

You’re ambitious and want to progress but you always seem to be passed over for promotion opportunities. There’s only so much rejection one person can take.

It’s Time for a New Career When…

Boredom has set in

It’s Groundhog Day. Every task, every aspect of your working day feels like a chore. And you know you would feel the same performing that role at another company.

You’re not enjoying what you do

People change. As you get older your values may change and you could become less comfortable with what you do for a living.

You’ve seen something else

If your head has already been turned and you’ve seen a shiny new career that appeals to you, then you may already know where your future lies.

You’ve looked into the future

“Where do you see yourself in five years’ time?” If the answer isn’t where you are now, then it’s time to think about doing something else.

11 Transferable Skills for Career Change

Transferable skills (sometimes referred to as ‘portable skills’) are abilities, behaviours and knowledge that can be used in multiple situations, such as working in different jobs.

They are essential for anyone who wants to make a successful career change. When you don’t have experience in your target role or industry to fall back on, being able to demonstrate that you still have the necessary skillset is a must.

The importance of each transferable skill depends on the job. However, the list below highlights some examples which are vital for a variety of occupations.

Written Communication

An obvious place to start. Report writing, blogging, emails, presentation creation, newsletters, press releases…the list goes on. Being able to express yourself on paper, or on screen, is vital for so many roles.

Verbal communication

As above. Whether you’re a call centre advisor, a newsreader or a car salesperson, being clear and articulate can lead to many opportunities.

Negotiating

It could be arranging for a debtor to pay back money, ironing out the terms of a large contract or arranging to second staff from another department within the same firm. Regardless of the circumstances, being able to show that you can negotiate will make you a more employable candidate.

Complaint Handling

Every organisation gets it wrong sometimes. And even when they don’t, some customers are still unhappy. So, the ability to either resolve issues or explain why the customer isn’t always right can prove invaluable.

Customer Service

Whether they’re referred to as customers, clients or any other term, the way they are treated is vital to the wellbeing of any organisation or industry. That goes from the basics of a warm and friendly greeting on the phone or face-to-face, to going the extra mile to complete an order or keeping the customer happy.

IT Skills

Word processing packages, spreadsheets, presentation programmes, databases, content creation systems and customer relationship managers. All used daily by a wide range of companies.

Adaptability

A quality that’s always been important, but never more so than in 2020. Coping with changing tasks, roles and working environments is a huge advantage for any career changer.

Time Management

When you move into a completely different line of work, it may take time to settle. Being able to prioritise your workload while meeting deadlines will be a massive plus in the early days.

Leadership

While the job itself will be new, many of the qualities required to be a successful supervisor or manager will be the same.

Numeracy

It could involve counting cash, bookkeeping, budgeting or carrying out calculations. Mathematical skills are important for so many careers.

Data Analysis

Linked to numeracy, the ability to interpret data and then use it for the benefit of your organisation is a huge asset when looking to change careers.