Is Your Job Cramping Your Style? Consider Trading Down
Ever wondered why people trade down for a job when they are already settled in a high-profile job that pays them quite well? Many people trade down for a variety of reasons that include long-term career opportunities, change in lifestyle, job security, less stress, family reasons and so on.
Choosing to take a new job that pays less but offers advancement possibilities and a chance to learn new skills can be a tough call. However, some people view losing a bit of compensation a small price to pay when taking into consideration long-term career and lifestyle benefits.
When looking at a new job opportunity, always consider the complete compensation picture – not just the salary. Instead, look at the new job’s smaller salary package in light of the new role that it offers and other such benefits such as vacation, paid time off and other lifestyle-enhancing advantages. Here are some of the reasons that people may trade down for a job:
• Long Term Career Opportunities – In many cases, the long-term career opportunities in a new position might be better than your current one. If the new company is providing you with an opportunity to excel and if you will end up in a better financial condition over time, then it makes sense to consider trading down.
• Lifestyle – When changing jobs, most people are willing to trade compensation for a better lifestyle. For example, some people wouldn’t mind getting paid less if they could live in their preferred area. This is very important for professionals who are looking to settle down in a particular area and who are okay with taking a pay cut to do so. Having more time for family also plays a big role.
• Less Stress – Many people have started accepting jobs that pay less or offer them lower positions so they don’t have to deal with constant pressure and stress. Stress is one of the biggest factors why people leave their jobs and choose lower-profile jobs. Stress can lead to health problems and is directly related to low job satisfaction.
• Job Security – Most people leave jobs that are not very secure - and they accept jobs that may pay less, but offer greater security. If your current company is outsourcing a lot of work and is losing money, a new job at another company might have brighter long-term prospects. Most people would rather work for less money than be unemployed.
• Over 50 And Wanting ‘Less’ In Life – There are many 50+ citizens who are trading down for jobs that are less stressful, more convenient and give them more job satisfaction. Most of them say that at that age they want less in life and are happy with taking a job that pays less and keeps them happy, rather than dealing with a high-paying, high-pressure job.
If you are unhappy in your current position, or simply want more time to live the lifestyle that you want, trading down might just be the answer you’ve been looking for. It might be the best decision you’ll ever make.