When you should take a pay cut

Does it ever make sense to take a pay cut?

When I was much younger, I was living in beautiful San Diego. I was considering a job in Los Angeles. The pay was initially lower, with a written contract to get me back to my current level in 18 months. The benefits weren’t as good. The company wasn’t as financially secure as the one I would be leaving. The hours were worse; I’d have to work night shift (While some people might like that, I am definitely a morning person). It all seemed to indicate that accepting this job would be a huge mistake.

Regardless, I accepted the position. My gut told me it was a really good opportunity. It seemed like a really fun company. My responsibilities increased as the company grew. I remained associated with that company for almost 25 years. It was the certainly one of the best financial decisions I ever made.

About: This video is from the CBC News.
Topics: Personal Finance

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