The kicker being, if you didn't take the paycut, the company would go under. Such is the case with a radio station in LA. Tom Leykis had a 7 figure contract per year....station management asked everyone to take a paycut, Leykis refused. Now they're going to change it into a top 40s hits station from an FM Talk station. SO.....say your job asked you to take a 30% paycut to "save the company". Would you do it, or tell them to fuck off and give you your severence and chance on the open market. I'd tell them to get bent.
He has a contract, so he will get paid. He's the type that will sue. Station goes off the air at 5pm. Tom blew it up
i'd say it would depend on a lot of things. am i friends with the people i work with? do i like my job? are there other jobs just as good out there for me? how much i'm making and how badly do i need the money?
what about your current situation. if they cut 30% of your salary tomorrow would you tell them to fuck off or just take it?
In my firm, all the partners have taken voluntary pay cuts. Bonuses we're also hugely shrunk for the partners. The analysts, associates and admin staff had their bonuses trimmed, but were given their annual pay increases.
Pretty confident I'd get a job pretty quickly, actually got a soft offer the other night at a dinner meeting but turned it down (well, I told him I'd do it as a consultant instead of full time which they were agreeable to). Just got a good contact base. If I was able to get a few months severance, I'd go off to Asia for a month or something and fuck around. 30% pay cut is really drastic, and it would suck bringing home that much less to begin with. I think at my work they actually tried to do an across the board pay-cut a long time ago, and the result was pretty chaotic..people quit, everything in disarray, pissed off workers, etc. actually IIRC, I believe it went to litigation.
I haven't really been pounding my contacts since my official last day of work was last Friday. Time to jump back in the game with both feet on Monday. I will say that double-dipping on severance and a decent unemployment check has been kind of nice.
I would negotiate a shorter work week if it came down to it and work at several companies as a consultant if I was asked to do it. Dunno, if they pay me less, I'll work less.
Yeah. That's not a bad thing...last time I was unemployed it really really really sucked and it was about 6 months and no unemployment.... But it was after college....just have to build a good network while you're currently employed....linkedin is helpful too.
I'd take the cut. I like my coworkers and my job, and frankly I don't know that the 30% difference really contributes that much to my overall happiness. My own income has doubled in the past five years, but I haven't noticed that it's made me that much happier in the long run. If it got cut back in half, I doubt it'd make me that much less happy in the long run. It's only money, and in an economy like this I'd rather see my coworkers with some sense of security.
see that's where i am right now pretty much(so i don't feel like my current situation would really apply to the question). been out of college 6 months and just working part time stuff, looking for a real job. it's not exactly the best time to be looking for a job with no experience right now but i'm not really having problems getting by on what i'm doing right now.
If I ever had to go back into an Appleone, I think I'd shoot myself before I got there. God, those retarded MS Word tests they had.
It's relative. If you make 30k, then a 30% cut would be pretty significant...more so than if you're near the six-figures range. I'm a recent college grad and still unemployed. It sucks, a lot of companies at a recent career fair were like "we're actually not going to hire anyone right now". But I had an interview today and things went well, although it might require me to move somewhere I don't want to like Montana or Arkansas. Ewgh. But 30% of 0? I can live with that pay cut.
30% is 30%. If you're making 100k a year and suddenly you lose $30k a year, that stings pretty bad. 100k isn't much nowadays anyways and losing that much isn't worth keeping your current job. The thing is, if you're at a higher salary to begin with, you're likely more valuable to an organization and you have more leverage since your skills, talent and experience is harder to find than a replaceable worker making 30k a year.
I worked at a big corporation type setting where it was a grind and I felt like a cog in the wheel. i would not have taken a pay cut in taht job. Currently I work for a very small comapany where we all are treated and feel like family. It is a battle each quarter to make the company profitable but i feel like I am a big part of the company's success or failure. I would take a pay cut to keep this going and make it through the rough times. I'm pretty sure so would everyone else in the office.
Sure, I mean the more you make the more you stand to lose if you had a flat pay rate decrease. But making 70k still allows you to live pretty similar as you did when you made 100k...just you invest less money or don't buy a new car this year. You'll probably still be able to make your living expenses. But generally a pay cut that large is pretty drastic. I heard some CEO recently state they are going to take a 5% pay cut (maybe it was Mark Parker @ Nike), which sounds realistic and reasonable for most employees to stomach, although not happily. I wonder how people who make money off of commission are doing right now. FWIW, I intend to be making that $100,000+ before I'm 30. Just gotta make it happen.
