Ep 183: The "Great Salary Reset" and the do’s and don’ts of taking a pay cut
Description
This week, we're unpacking the murky waters of pay cuts and those awkward conversations where your boss wants you to do the same work for less. It's an increasingly common brutal reality, but you don't have to just roll over and take it.
We explore the different types of pay cuts: those forced upon you (like when you're forced back into the office) and those you choose (like a lateral move for experience). We'll also get real about the sneaky ways pay cuts happen – from slow-burning merit-based cuts to outsourcing key departments and roles.
Tune in for advice on:
- The myth of the "Great Salary Reset": Why pay cuts are not a correction but a reflection of power dynamics
- What to start doing when your job wants less from you, and how to protect yourself from getting played
- The importance of building a backup plan for financial stability when pay cuts are the only option
- The new portfolio career: Learning how to pivot and reinvent yourself in this economy
Links:
- Episode 150: Avoiding the Confidence Trap | How risk impacts your investments
- Episode 140: Pay Transparency | Does sharing your salary help you earn more?
- Pay trends amid rising pay transparency
- US salaries are falling, employers say it’s a “resetting” (via BBC)
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