{"id":256,"date":"2013-07-09T00:29:21","date_gmt":"2013-07-09T00:29:21","guid":{"rendered":"http:\/\/www.thejobsearchguru.com\/notesfrom\/?p=256"},"modified":"2013-07-09T00:37:10","modified_gmt":"2013-07-09T00:37:10","slug":"salary-offer-not-enough-10-situations-where-a-salary-sacrifice-might-be-worth-it","status":"publish","type":"post","link":"https:\/\/www.thejobsearchguru.com\/notesfrom\/salary-offer-not-enough-10-situations-where-a-salary-sacrifice-might-be-worth-it\/","title":{"rendered":"Salary Offer Not Enough? 10 Situations Where a Salary Sacrifice Might Be Worth It"},"content":{"rendered":"
\"Sometimes

Sometimes it’s a good idea to consider a salary sacrifice. Here are ten times when the dollars in the salary offer aren’t the whole story.<\/p><\/div>\n

When you\u2019re looking at new jobs, there\u2019s a lot to consider, but the salary offer and the total compensation package are top priority for many people.<\/p>\n

Some people believe that taking less salary is always a bad move, but money really isn\u2019t everything\u2026 and in many cases, it\u2019s not even near the top of the list.<\/p>\n

Sometimes a salary sacrifice is in order.<\/p>\n

The truth is that even very similar jobs might bring a widely different pay range. Many factors are at play, including the size and stage of the company, its profitability, the industry it\u2019s in, and how hard they have to compete for quality people. So it\u2019s possible you\u2019ll find what seems like a dream job\u2026 but the compensation is not what you want.<\/p>\n

That\u2019s when to look for the tradeoffs. What can you get out of a job that makes up for taking less money?<\/p>\n

Here are ten situations where taking less salary could make a lot of sense:<\/p>\n

1. You are changing careers.<\/b><\/p>\n

This is a bit of a no-brainer, but when you change careers, you also start at the bottom (or maybe the middle, depending on which of your skills are transferable), and that includes your pay package. So while you might have been highly paid in your old career, you have to happily accept less in the new one.<\/p>\n

2. Your past pay was on the high end anyway.<\/b><\/p>\n

I interview people all the time who are paid very, very well for what they do. We call that \u201cgolden handcuffs\u201d because it can trap you in a job that you\u2019re afraid to leave because of the money. If you\u2019re in this situation and feeling a little spoiled, remember why you are looking for a new job in the first place\u2026 a better boss? Easier commute? More chances to learn? Money is never enough of a reason to stick with a job when it\u2019s time to move on.<\/p>\n

3. You’ll get valuable new education and experience.<\/b><\/p>\n

It\u2019s amusing to me that the same people who will go into debt paying tens of thousands a year for college education will balk at a lower salary where the potential on-the-job experience will teach them things they\u2019d never get somewhere else. Experience is worth money.<\/p>\n

4. You are getting stock options or equity, too. <\/b><\/p>\n

In my recruiting practice, I specialize in finding senior executives for startups, and in every single situation, we\u2019re looking for someone who will trade off some (and sometimes all) of their salary for equity in the company for the possibility of a bigger payoff down the road.<\/p>\n

5. You want to build something from the ground up.<\/b><\/p>\n

Startup companies have tight budgets, and salaries are always on the lower end, but when you are one of the first employees in a company, you really get to influence how things go in a way you just cannot get in a big company.<\/p>\n

6. You have the opportunity work with a specific mentor.<\/b><\/p>\n

Again, education is expensive, and if you are building your career, the chance to work with someone who can teach you how to be great at what you do is priceless.<\/p>\n

7. You’ll get tuition reimbursement.<\/b><\/p>\n

If you are eligible to go to school part-time for an MBA, other graduate programs or expensive certifications, the value of tuition reimbursement can add a lot to your actual compensation package. Make sure you know the rules first; many companies require that you\u2019ve been there for a year first, require you to meet minimum grade standards, and have a period of time afterwards where you can\u2019t leave or you have to pay them back.<\/p>\n

8. The job has a more flexible schedule or requires less hours. <\/b><\/p>\n

The ability to set your own hours, waste less time commuting or work fewer hours will affect your bottom line in different ways, including the quality of your life.<\/p>\n

9. You\u2019ll be developing valuable new contacts. <\/b><\/p>\n

When given the choice between a high-paying job where you\u2019re isolated and a lower-paying one where you will be rubbing elbows with powerful people, the lower-paying job is a better option for someone who is building a career and a network.<\/p>\n

10. The benefits are great. <\/b><\/p>\n

I know a woman who took a job with a retail grocery chain with not-so-great hourly wages, but fully paid medical and dental benefits for employees and their partners. That medical coverage wouldn\u2019t have been available to her privately, and would have cost thousands of dollars a year if it were.<\/p>\n

Choosing a salary sacrifice isn\u2019t for everyone, of course. You may have high expenses, two kids in college or be the sole family support. If that\u2019s the case, the right salary offer will be high on your list.<\/p>\n

But if not, then consider how you can make the compensation package more flexible so you have options for jobs that are really awesome, even if they don\u2019t carry a high paycheck.<\/p>\n","protected":false},"excerpt":{"rendered":"

When you\u2019re looking at new jobs, there\u2019s a lot to consider, but the salary offer and the total compensation package are top priority for many people. Some people believe that taking less salary is always a bad move, but money really isn\u2019t everything\u2026 and in many cases, it\u2019s not even near the top of the […]<\/p>\n","protected":false},"author":1,"featured_media":257,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,6,9,34],"tags":[33,32,24],"class_list":["post-256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-articles","category-interviewing","category-inspiration-and-motivation","category-salaries-and-compensation","tag-job-offer","tag-negotiation","tag-salary"],"_links":{"self":[{"href":"https:\/\/www.thejobsearchguru.com\/notesfrom\/wp-json\/wp\/v2\/posts\/256","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thejobsearchguru.com\/notesfrom\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thejobsearchguru.com\/notesfrom\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thejobsearchguru.com\/notesfrom\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thejobsearchguru.com\/notesfrom\/wp-json\/wp\/v2\/comments?post=256"}],"version-history":[{"count":5,"href":"https:\/\/www.thejobsearchguru.com\/notesfrom\/wp-json\/wp\/v2\/posts\/256\/revisions"}],"predecessor-version":[{"id":263,"href":"https:\/\/www.thejobsearchguru.com\/notesfrom\/wp-json\/wp\/v2\/posts\/256\/revisions\/263"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thejobsearchguru.com\/notesfrom\/wp-json\/wp\/v2\/media\/257"}],"wp:attachment":[{"href":"https:\/\/www.thejobsearchguru.com\/notesfrom\/wp-json\/wp\/v2\/media?parent=256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thejobsearchguru.com\/notesfrom\/wp-json\/wp\/v2\/categories?post=256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thejobsearchguru.com\/notesfrom\/wp-json\/wp\/v2\/tags?post=256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}