The best online bank of 2020 is now even better.

Radius is now

The best online bank of 2020 is now even better. Radius has joined America’s largest personal loan company to offer our members access to fair credit, competitive rates, and the financial tools to help you get out of debt and make the most of your money.

Back to blog

5 Questions to Answer Before You Take the Lower Paying Job Offer

job offer

So you did all of the hard work, updated your resume, reached out to make connections, and applied to a list of jobs. After weeks or months, you now have two or three job offers to consider. Some people might think that the obvious answer is the one that is offering the highest salary, but that isn’t always the case. If you think you might want to take the job that would mean a pay cut for you because you think in the long run it is best for your career growth, ask yourself these four questions before signing the acceptance letter.

1. What kind of opportunities will you have?

One of the reasons you might be looking for a new job is because you realized there was no where to go within the company at your old job. One of the worst feelings is being stuck in a position with no goal of advancing within the company. When you are considering taking a lower paying job it is important to know what opportunities there are within the company and if you can see yourself getting promoted. Not only does this motivate you to perform better every day but knowing you can work your way up means that your salary has potential to grow.

2. What does this role do for your career long term?

Make sure you take the time to think about what this job offer will do for your career. Sometimes the lower paying jobs put you in a position for future success, maybe you work within a company that has you working in different areas every day. You would learn the ins and outs and gain more tactical experience. Usually, these types of firms are expanding, allowing you to learn more in a short period of time. This type of exposure is important when it comes to the next job, and your experience will separate you from the competition.

3. What type of benefits will you receive?

If you think the starting salary is the only thing to consider when given a job offer, think again. The list of benefits you will receive not only include possible medical and dental insurance, but there also vacation days, your 401(k) and gym discounts to consider. There are also benefits outside of the package to consider, maybe this new job is located closer to your home or you don’t have to travel as much on the weekends. Thinking about what else you are gaining from this job offer can often justify the pay cut you were first worried about.

4. Will you enjoy the work?

Although money might always seem like the most important part about accepting a new job, I’m here to tell you that it’s not. If you don’t enjoy what you are doing every day then the extra money you make might not even be worth it. Of course, you will still have bills that will need to be paid (see #4) but sometimes it is easy to make some financial sacrifices if it means you will be happier at work.

5. Can you afford to take the pay cut?

Unfortunately, there are times when you have to be more realistic than you might want to be. When you are considering taking this new, lower salary, make sure you go through what you usually spend in a month and then plan a separate budget with the new source of income. Radius clients have access to personal financial management tools to help them plan and understand their personal finances better. Once you figure out a new budget you can afford to adjust to, you will know if you can manage with the decrease in income.

About the author

Rebecca Arcand

As the Marketing and Design Specialist at Radius, Rebecca makes understanding finances simple for the Millennial generation. Focusing on how to set up different accounts or how to save, Rebecca is an experienced financial mentor giving you advice that will make a difference.