Friends, I was helping a friend think through a job offer today and I want to share some ideas I gave them.

A thread 🧵
Their offer was for slightly less than what they make now, 96% of current salary. I had them look at the whole package & there are a few things to consider here.

1) other perks. My friend will have better healthcare which will save them money when they need care.
2) they now have access to a 401k. By making contributions, they’ll reduce their taxable income and might save money on paying less income tax to their state, a state with a considerably high income tax.
3) happiness and its relation to productivity. They are very unhappy with their current job. Taking the new one will put them in a better space to be mentally healthy, which will benefit them in several ways, including the side hustles they currently have.
There are a few more things to consider when this happens. Always divide the salary difference by 12 to see roughly your change in income. Will it be as noticeable as you think? Can you make up that difference elsewhere?
Also, if you feel an offer is a little low but you want the job, you can always try to negotiate for a baked in promotion. “I believe I’m at this level, If you want to bring me in below that, I’d like an evaluation in 6 months and to be reconsidered for the next level.”
Taking less money is sometimes worth it if you look at the whole picture. Hopefully that never happens to you, but if it does, weigh everything carefully.

FWIW, I took a $15k cut once, have still not gotten back to my top pay, but I’ve been much happier since. That’s worth it.
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