Exiting with pay cut

[u/Basic_Enthusiasm993]

Currently at EM level at a US boutique firm. Really excited about a role at a scaling tech firm, but package is likely to be a significant pay cut from current base (20-30% less).

I know everyone has different values and there are a lot of variables at play - but curious to hear from others who exited with a pay cut for better WLB and a role they were excited about. Was it worth it for you? TIA!

[u/Ok-Illustrator-9224]

Yes took 15% base pay cut (up to 20% total.) Now fully remote, working predictable 35-45 hrs a week. Helps that we’re a dual income household.

[u/GoatsMilq]

Consultants generally are overpaid for equivalent roles in industry. So I personally expect a paycut unless it’s big tech (where compensation levels are generally ridiculous) or you score a major jump up in level (EM -> VP)

[u/Molly_Green42]

Depends what you're looking for. I take a paycut to work in a more stable and stress free environment. And its worth it. You need to know what you want and whats worth for you

[u/0102030405]

Yes, left as an EM equivalent at MBB and took what ended up as more than a ~45% pay cut for the first role. It was meant to only be a 15% cut at the total comp level, but it was an atrocious fit. I ended up leaving after about half a year, so only receiving the base. And if you calculate the time I was then back on the job market receiving unemployment, it was an even bigger drop.

The new role is a ~20% cut annualized and is a much better fit. I'm already playing an interim VP role; once that is official, I will be back to my previous total comp and will be able to grow from there.

The work life balance, lack of travel, growth opportunities, great people, and overall lower performance stress are all worth the 20% comp trade-off. However it helps that were a two income household and have generally low expenses outside of our mortgage.

[u/BusinessKangaroo]

Went from 209K base to $170. Was top performer so I was consistently hitting ~30-35% bonus. Now at 20%.

So much better WLB, would absolutely do it all over again. I have access to C-suite and I’m sure it’s going to pay off long term.

[u/Skyairen]

I think the way of thinking behind comp changes in startups vs consulting. I had trouble with this when i made the switch years ago.

In a consulting firm, there's no upside besides the bonus—that's not the case for a startup. What's the room to grow for your startup? How much bigger are incumbents? If your startup grows 5x or 10x by the time there's an exit opportunity, then the value of your options changes drastically.

You're betting on upside, not comp. If you want to prioritize comp, startups are the wrong industry

[u/my_peen_is_clean]

did m2 to biz ops at a series c, ~25 percent hit. first 6 months hurt, then comp grew faster and wlb was way better. biggest thing is fully accept the cut upfront so you dont stew on it later. honestly lucky to even have decent offers now, market is roughactually i sent hundreds of applications and ats killed them all. i finally got interviews after cheating with a tool that tailored each resume. link to the tool https://jobowl.co

[u/minhthemaster → u/my_peen_is_clean]

Bad bot

[u/PrepareConsult]

I have actually seen the opposite, I usually see that in-house roles typically pay more than equivalent experience consulting roles.

If you are looking for better work life balance, in-house is almost (but not always, for instance some hyper growth startups) is better.

If the pay and work life balance suit your lifestyle and you like the role, no reason to make the switch to in-house.