Should I take a pay cut now to potentially earn more later?
Hello BP! Full disclaimer--I'm borrowing a friend's account as I'm discussing a job switch, and I don't want this information floating around the internet with my real name on it in the event that someone from my current company sees it.
I have a dilemma on my hands. I have several years of accounting experience for a company that owns and manages commercial RE. In January, I took on a new role in my company doing leasing. I'm not satisfied with my current company anymore and would like to eventually become a real estate agent focusing solely on investors until I have enough assets to become a full-time landlord. I have 3 properties now, so that day is pretty far away.
My mentor encouraged me to get a sales job so I could learn some entrepreneurial skills before taking that plunge. I have an opportunity to take a role as a recruiter for accounting and finance positions. It's a great blend of what I've done so far, and I'd have a base salary for the first year until I got up and running. However, the base salary is about $20k less than I make now. Naturally as a salesman, the hiring manager threw out a lot of big numbers when discussing what his top earners make, what he made in his first few years, and what I could be making in 2-3 years. I have the right skill set to work in sales, and I would be good at this job, but I can't help but hesitate at that low base that I'd have to live off of until I got going.
The timing sucks. My boyfriend is in nursing school on the GI bill and only working part-time. We have a house payment. I've got student loans and some CC debt, and I just about wiped out my savings to put a large down payment on a car earlier this month. My dad is in the middle of a quasi-divorce, and we're trying to buy a 4th property for him to move into this spring. But there's always going to be a reason why the timing isn't right.
Do I take the plunge and do sales? Do I look for another accounting job that pays more even though I hated the work so we can wipe out some debt before I make a job change? I'd appreciate any insight or guidance!
Most Popular Reply
@John Heasley If I were in your shoes I would follow your bliss..... life is short and we have one life to be the human we want to be..... Therefore, spend a day really thinking about the what-ifs..... and what you *really* want in life - where you want to be in a year, 5 years, 10 years, etc.... think about how you can get there.... In my opinion, working for the "man" is drudgery and is good at times but isn't how you will be financially free.......
Sales is the place where you can have a hedge for the downside (guaranteed salary) and no limit on the upside. You also will learn valuable life skills that will serve you well in your future.... Find a sales mentor and model what they do....
As for the vehicle, it sounds like you did ok and I would not waste time on that right now as you would lose too much if you sold it now..... (and even with AAA it can take several hours to tow a car and that loss of time may mean a sale or not, a job or not, etc..... also, if this is a female then breaking down in the wrong place can be scary..... so there is more to this than meets the eye)
Run a budget... be honest, cut as much expenses as you can, save 10% and go learn to be the human you dream of being !