9 Lessons I Learned About Money When I Switched to a Lower-Paying Job (2024)

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Bahar Anooshahr

Bahar Anooshahr

published Mar 28, 2022

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A number of years ago, I left a career as an oral and maxillofacial surgeon to pursue writing. I had sought out the medical field because as the first-born child of an immigrant family, I had to meet the expectation of higher education and a well-paying job. Yet, after a few years, I found myself in tears whenever I’d leave work. I thought that maybe I just needed a vacation. So, I chose a wellness resort that gave me some time to reflect.

One day, I was walking around the property’s labyrinth when I asked myself, “What do you want?” I tried to ignore the question, but it came up again. I eventually realized that I didn’t want to be an oral surgeon anymore — I wanted to write and tell stories. But a change that big was terrifying. When I got back home, the only step I took was to cut back on expenses and save more money in preparation for a potential career change. But my body began to revolt, imposing severe gastritis attacks that sent me to the emergency room. After a few of those, I decided it really was time to give my notice. While my salary was instrumental in helping me build my savings and feel somewhat safe with the transition, I still learned a lot from switching to a lower-paying career.

The shift dictated a change in lifestyle and taught me several lessons along the way, some of which required looking in the mirror. I didn’t always like what I saw, but I loved what I learned. Here are nine nuggets I picked up.

How little I could relate to others.

As a surgeon, I could go anywhere and buy anything I wanted. Posh gym and a personal trainer, check. Overseas trips, check. I remember recommending those activities to others or talking about my travels to people as if everyone had the same salary. It took leaving the field to develop an understanding of and compassion for people with different income levels.

How many unnecessary purchases I made.

On my days off, I made a habit of visiting my favorite shops and purchasing clothes, shoes, jewelry, and body products. Even a year after I stopped randomly shopping, I would find clothes with tags still attached in my closet. It was a waste of money and a disservice to Mother Earth, considering the damage the fashion industry does to the environment. I realized these extra purchases were a way to handle negative feelings, the sadness of my divorce, the stress of my work, and maybe a sense of loneliness.

I don’t need much to live a happy life.

Once I changed my spending habits and began focusing on needs rather than wants, I noticed how little I had to own in order to live happily. My 500-square-foot studio became my sanctuary. I continued my favorite activities of writing, drawing, and baking. A small living space required less time and effort to maintain. Being mindful of space meant choosing fewer, but good-quality items.

It’s important to live within my means.

We live in a consumerist society that constantly pressures and manipulates everyone to want and buy things we don’t necessarily need. I learned that I may need a car, but I don’t need a BMW. I need a place to live, but it doesn’t have to be a financial burden. I’m mindful of what I can afford. And if friends judge me negatively for doing so, I reevaluate those friendships.

Enjoying life doesn’t cost a lot.

For me, there is a way to live on a budget and still enjoy life. I take advantage of the museums’ discount or free days. Instead of buying books, I visit the local library, which also offers passes to cultural events (museums, the ballet, etc.) I buy in-season produce — it tastes better and costs less — and I check out free community classes at my local yoga studio.

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Experience trumps stuff every time.

No matter how much I love an object, its novelty usually wears off in a day, a week, or a month. What stays with me forever is the memory of a trip, a lovely meal, or a skill I learned in a class.

Remember successes.

When I’m down, I remember what I have achieved so far. Drawing upon my successes lets me know I can handle whatever comes next. Recognizing my accomplishments gives me the courage and strength to move forward.

Gratitude brings abundance.

There’s a saying that goes: “When you love what you have, you have everything you need.” I can’t agree more. There’s levity and joy in appreciating what I have and realizing that it’s enough. When I do, I feel abundant.

My choice, my consequence.

Having clarity in my decisions and autonomy makes me feel more confident. Once I chose the career path that was best for my life, I was willing to accept the consequences, even if they were slightly uncomfortable. I pulled myself up by my bootstraps and built anew.

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9 Lessons I Learned About Money When I Switched to a Lower-Paying Job (2024)

FAQs

Is it worth changing jobs for less money? ›

For personal growth

Opting for lower-paying jobs that require fewer working hours or less commitment can offer you more time to concentrate on personal development, education, or side projects.

What is more important the job or the money? ›

The answer to this question definitely depends on your priorities and values. Some prioritize job satisfaction and fulfillment over a higher salary, while others prioritize financial stability and security. Ultimately, the answer will vary from person to person.

When to accept a lower salary? ›

If taking a pay cut works out from a personal finances perspective, as well as a career development perspective, then you should consider going for it. Just make sure that taking a pay cut for less stress won't accidentally translate into more stress, both in the short term and over the course of a couple years.

Should you take a low paying job for experience? ›

There are more opportunities to advance

It can make sense to accept a job that pays less but offers training, valuable experience, and the opportunity to advance. If you jump to a company that promotes from within and provides on-the-job training, it might lead to higher future compensation.

Is a pay cut worth my mental health? ›

A pay cut might initially feel like a step back, but it can pave the way for a more sustainable career path, potentially leading to greater job satisfaction and personal well-being. Over time, this satisfaction can translate into enhanced productivity and career growth, which could offset the initial financial setback.

Is a low paying job better than no job at all? ›

Any job is not better than no job.

At least you are keeping up with your responsibilities and earning some money, which is better than doing nothing.

Should you settle for a low paying job? ›

Employers often associate higher salaries with higher levels of competence and expertise. When you settle for a lower salary, it may create the perception that you yourself undervalue your skills and qualifications, potentially impacting future salary negotiations, merit increases and career progression.

How do you respond when salary is too low? ›

Here is a list of steps on how to respond to a low salary offer:
  1. Ask for time. ...
  2. Understand your minimum acceptable salary. ...
  3. Conduct research. ...
  4. Make a plan. ...
  5. Practice negotiations. ...
  6. Show enthusiasm. ...
  7. Negotiate for early performance reviews. ...
  8. Focus on your skills and expertise.
Feb 2, 2024

What is a lowball job offer? ›

A lowball job offer is a salary offer at the lowest end of the budget or even outside the range provided in the posting. Although it may affect an employer's branding, the most common reason to start a salary negotiation with a low bid is the belief that this is a smart financial strategy.

Should I take a job that pays less but makes me happier? ›

Taking a lower-paying job for increased happiness often results in a better work-life balance. A lower-stress job allows more time for hobbies, friends, and family. This shift in priorities could lead to a more fulfilling life.

When should you not take a higher paying job? ›

Don't take the highest offer you receive if it's significantly higher than your market value. There's no sensible reason for an employer to pay people more than their competitors-for-talent pay. If they're paying over market, there's a reason. It might be a terrible work atmosphere, killer hours or some other problem.

Is experience better than money? ›

The knowledge, skills, and wisdom gained from hands-on experience are invaluable assets that can propel your career to new heights. Remember, money can come and go, but the lessons learned through experience stay with you forever.

Should you leave your job for less money? ›

Although accepting a lower salary may make sense if it's in exchange for a unique opportunity or non-financial fringe benefits, if you are significantly under-compensated at your current job, you should definitely consider leaving.

Should you take a new job that pays less? ›

Taking a job at a well-known company could be worth accepting a lower salary. Why? It can boost your resume and your salary in the long run. For example, say you begin a career in tech at a relatively unknown firm and, after a few years, receive an opportunity at Google — for less pay.

Is it worth it to take a pay cut for better work-life balance? ›

While a better work-life balance may benefit your mental health, and may be necessary, taking a pay cut could negatively impact your financial health, advisers warn. It's important to understand the financial consequences of doing so now and, especially, in retirement.

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