Personal Finance Myth #37

Believing you should never take a pay cut is a myth | Vrid
People illustrations by Storyset

Don’t ever take a pay cut

The idea that one should never take a pay cut is a myth because it assumes that all jobs and situations are the same. 

To get where you want to be, you may need to take a few detours, including a lower salary, especially during a career or location change. 

Additionally, taking a pay cut may allow for a better work-life balance or the pursuit of a passion. The decision to take a pay cut should be based on careful consideration of individual circumstances, goals, and priorities.

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