Wasif Ahmed (not his real name) spent a decade at a Bangla business daily and in the latter part of his career, held a high-ranking position. This June, he made a surprising career move, opting for a role as a public relations officer at a public university, even though it came with a substantial drop in salary.
“I made the switch from a private organisation to a public university because in the long run, there are several advantages. In private companies, the path to promotion can be uncertain and quite challenging. However, in a job like this, the promotion process is crystal clear. You can precisely see how many years it will take to climb the ladder.”
Another crucial factor is the location of his new workplace, which is conveniently close to his home. This means, “I can spend more time with my family at least two days a week, which means a lot to me.”
In addition to that, he pointed out that private companies often come with a heavy workload, while his new job offers a more balanced work-life equation. “Even though it resulted in nearly a 50% reduction in my salary, the benefits made it worthwhile.”
Many individuals begin their careers with relatively low salaries, sometimes even choosing to turn down higher-paying opportunities for certain advantages that come with the former job. The Business Standard delved deeper into why choosing a thinner paycheck can sometimes be a wiser decision, at least in the short term, despite all the obvious difficulties that come with surviving on low pay.
For better career prospects
Starting one’s career at an organisation renowned for its strong reputation, even if it offers a comparatively lower salary package than say a newer entrant in the industry, can be a tactically wise move for future career growth.
On one hand, it amplifies the value of your resume, while on the other it provides invaluable experiential learning that can open doors to better opportunities down the line.
“At the beginning, the brand value matters. Joining a renowned organisation, even if the initial salary is less, can lead to better career growth, in-demand skill development and increased negotiation power in future,” said Rahman Azad, who started his career as a graphic designer at a well known organisation at a lower salary.
“At my later job interviews, I was judged by my previous place of employment and was offered competitive salaries,” he added.
“If there’s a clearly defined path for career advancement and the opportunity to show your capabilities within a year or so, accepting such an offer may be well worth it. However, if there’s no clear career progression, you should decline the offer,” advised Mohammed Saif Noman Khan, an Associate Professor at the University of Dhaka (IBA).
For personal fulfilment
In his recently published book ‘The Good Enough Job’, American author Simone Stolzoff argues that this generation doesn’t work only for a paycheck.
He writes, “among educated white-collar workers, there is this need to view work as more than just a job, but rather as an identity.” Citing a recent survey from Pew that found that this outlook is prevalent globally, he states, “people who are college-educated are two times more likely to consider work as a source of meaning and fulfilment.”
Finding a job that aligns with your personal passions and interests can be just as important, if not more so, than the salary it offers. When your work aligns with your own vision and brings personal fulfilment, it can lead to higher job satisfaction and an overall improved quality of life.
As one senior HR official from a renowned hospital in the country put it, “we find candidates whose vision aligns with ours and who are passionate about what they do. Even if the salary isn’t the most competitive, individuals who find personal fulfilment are more likely to start a career with us.”
For non-monetary benefits
While the base salary of certain positions may not appear particularly impressive, when factoring in supplementary compensation elements, the overall package can be attractive. These additional benefits encompass healthcare provisions, subsidised housing, conveyance, provident funds, gratuities, and so on.
Also, the number of workdays come into play. For instance, consider whether you’d prefer to earn 20 taka for a six-day workweek or 15 taka for a four-day workweek.
Md Ridwanul Hoque, another DU-IBA Professor, highlights the significance of considering all compensation components: “Most freshers tend to focus solely on the monetary aspect, often overlooking these intangible benefits. It is essential to evaluate job offers by carefully weighing all aspects of compensation.”
You need to start somewhere
Many candidates refuse a job because the salary package offered does not align with how they value their skill sets. This may not always be a wise decision.
Astute graduates often kickstart their professional journey with whatever is on offer, even if the offered salary falls short of their expectations; all the while keeping an eye out for more promising prospects.
Being employed serves as a stepping stone to the future where more fitting job opportunities that align with their career trajectory lay waiting.
“When starting your career, you can’t afford to be excessively selective. Priority number one is securing a job. Starting to do something is always better than sitting idle,” said Noman Khan.
He stressed that prolonged unemployment diminishes one’s bargaining power for better compensation. On the flip side, job seekers should also grasp the industry’s salary structure. Unrealistic salary expectations can lead to misguided decisions and frustration.
“Having a master’s degree isn’t the only key to improving your job prospects. Qualifications, skills, and intelligence all play significant roles. Over time, you will accumulate more skills and experience, eventually leading to a higher-paying position,” Noman Khan added.
Moreover, candidates who may not have excelled academically can start with lower-paying positions and work their way up by demonstrating their value. Noman Khan further highlighted, “lower-paying organisations often accept candidates with less impressive qualifications, so job seekers should consider this aspect as well.”
Better work environment
Global jobs website Glassdoor surveyed more than 5,000 adults in 2019 to determine their priorities regarding job satisfaction. According to the study, 56% of workers ranked a strong workplace culture as more important than salary.
Even if a job pays comparatively less, it may offer a less stressful environment, enabling you to lead a more relaxed and healthier life. Before applying, it’s a good idea to look for reviews from other employees.
The average person will spend 90,000 hours at work over a lifetime, according to Andrew Naber, an industrial-organisational psychologist and data scientist. Therefore, the people with whom we spend this significant portion of our lives are important.
So, if a modest-paying job offers a better work environment, work-life balance, flexible hours, it makes them attractive options.
Akif Ul Islam has more than three years of work experience in the service and manufacturing industry. According to him, employees with just a few years of experience should be cautious when offered a higher-paid job in a small organisation, especially in sole proprietorship firms.
They should assess the working environment, the owner’s mentality, and the expectations. Smaller firms often demand higher productivity and multitasking, with long working hours and no overtime pay.
A good work environment can contribute to work-life balance, mental health, and self-improvement, allowing one to focus on learning other in-demand skills in the market that can ensure sustainable career growth.
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. Also you can choose to work for an organisation that is more open to your growth. This, in turn, can assist you in acquiring new skills and knowledge that may open doors to better opportunities in the future.
As Saif Sumon, a former education counsellor, expressed, “I changed my last job because I wasn’t learning anything after a year of working there. In my current job, even though I primarily work with the creative team, I have the opportunity to collaborate with the marketing team and other teams, allowing me to broaden my experience and working scope.”
When location makes a difference
Lower-paying jobs are often found in areas with a lower cost of living. In these situations, your reduced income can still allow you to maintain a comfortable lifestyle without the financial stress associated with higher-cost areas.
Khadeza Akter, for instance, shared her experience, saying, “I got two job offers at a time. One in Dhaka with a salary of Tk 30,000 and another in Sreemangal for Tk25,000. After calculating the costs of accommodation and transportation in Dhaka, I realised that more than half of my income would be eaten up. So, I decided to move to Sreemangal, where accommodation and transportation cost me only around Tk6,000 a month. Even though the salary in Dhaka appeared higher, the job in Sreemangal actually leaves me with more savings.”
Career paths are as diverse as individuals, and the choice to take a job that pays less can sometimes be a strategic step towards long-term career success. The key is, understanding the dynamics of your industry, prioritising learning, and carefully evaluating the growth prospects and brand value of potential employers, for a more fulfilling and prosperous career in the long run.