Q: I’ve been out of work for six months. I just got offered a job, but it is significantly lower than what I was making before. I have about three more months of savings I can use before I am really in trouble. Do I take this job or hold out for a higher-paying one? — Gary
A: The first step is to assess the job offer thoroughly. Look beyond the salary and consider other aspects such as benefits, growth opportunities, company culture and job stability. Sometimes, a job that offers professional development and a positive work environment can make up for a lower starting salary.
You mentioned that you have about three more months of savings. This cushion provides a bit of flexibility, but it’s essential to have a realistic plan. Calculate your monthly expenses and see if the offered salary can sustain you without dipping into your savings too much.
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If you decide to take the job, it could offer immediate financial relief and prevent a gap in your employment history from growing longer. Additionally, being employed can provide you with more leverage when negotiating future positions and can help maintain your professional network.
On the other hand, holding out for a higher-paying job could pay off if you believe your skills are in demand and you can secure a better offer within the next few months. This is a riskier approach given your financial situation but can lead to a more satisfying and financially rewarding role.
If you choose to engage with the current offer, here’s a strategy I recommend:
1. Stay calm and know your worth: Express your excitement about the role and the company, but clearly and calmly state your salary expectations.
2. Highlight their strengths and your value: Remind the employer why they wanted to hire you in the first place. Outline three reasons why you love the company and three key ways that you can deliver value in the role.
3. Prove you’re the solution they need: Consider creating a “catastrophe table” in a follow-up email after declining their initial offer. This table should include the core duties of the role, the risks of mishandling these responsibilities and how your expertise can prevent these issues.
J.T. O’Donnell is the founder and CEO of the job search career coaching platform Work It DAILY. She is on a mission to help workers of all ages find career success and satisfaction. Visit workitdaily.com to submit your questions.
