A recent survey found that 68% of Americans would take a pay cut for more satisfying work and that almost 25% of workers would take a big pay cut.
Even so, employers often balk at hiring people for less money than they have been making because they fear they will leave when they find a better job.
What If You’re Willing to Take a Pay Cut?
But what if you’re willing to make less? Then address the concern head-on and right away in your cover letter.
Cover Letter Language
One of my clients is making a change to more rewarding work. The change will entail a big pay cut for her.
I love the words she used to describe this in a recent cover letter to a hiring manager. Shared with her OK, here is the paragraph she used to address possible concerns about her pay:
I know that a move to [type of job] will mean a significant cut in pay for me, but I am now in a position where I don’t need to make as much money as a [current title] at [current company] makes. Rather, I’m looking to make the most of everything I’ve learned over the past 15 years by bringing it all together and applying it as a [title] in the [name] field.
Simple, direct, and honest. My client shares that she can afford a pay cut and her motivation for taking the cut.
As a recruiter, I find her explanation more than adequate. Because of this, I wouldn’t consider pay a negative in recruiting her — as long as the new job fits the career change she wants to make.
Whether you’re making a voluntary or involuntary job change, if it involves a pay cut, let recruiters and hiring managers know you’re OK with that and why you’re OK with it.
Image: Rob Hyrons
Updated May 2019
© 2013 – 2019, Donna Svei. All rights reserved.
Donna Svei, an executive resume writer and former C-level executive, retained search consultant, and CPA, writes all of AvidCareerist’s posts. She has written for and been quoted by leading business, general, and career media outlets, including Forbes, Mashable, Fast Company, Entrepreneur, Lifehacker, Ask.com, Social Media Today, IT World, SmartBrief, Payscale, Business News Daily, and the Muse. Let her background and experience inform your job search strategy and decision making.