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Daniel is an INSEAD MBA, class of 1966.
I've been unemployed for several months. Recently, I received a job offer; however, the pay proposal is $12,000 less than my previous salary. I can't decide whether I should decline the offer due to the cut in pay or if I should accept it in light of the present economic situation. My background is in accounting and I've been aggressively looking for a job since May. This is the first close offer that I've had, although I have two others pending. These jobs include higher pay but require up to 30% travel and I'm not sure that I want to do that.
Is a decrease in salary a valid reason to refuse a job? I'm afraid that if I accept the offer, I'll be unhappy and it will take me at least five years to earn the kind of salary I was previously making. I still could live comfortably without the additional $12,000 and the company benefits are decent. Still, I think I'd regret my decision because I'd have to reassess my financial goals such as purchasing a house and a vehicle.— Read answer