One-third of workers who switched jobs during the pandemic took a pay cut in exchange for better work and life balance, according to Prudential.
Of course, taking a pay cut will directly affect your finances and may not be advisable right away, according to Tania Brown, an Atlanta-based certified financial planner and founder of FinanciallyConfidentMom.com.
Contemplating the answers to these questions will help ensure you don't make a rash decision you'll later regret, said Brown. Plus, you may realize you don't want to leave your job, but instead would like more flexibility or a change in your role.
Brown suggests a trial period of a few months where you try to see if you can meet your goals on smaller take-home pay. That test run could help you decide if a pay cut is right for you.
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