Recently laid-off Marketing Product and Development Manager at Verizon. Not sure to take my severance after over a decade of service (100k+) or take a demotion and a 15k pay cut. Would love to continue my career somewhere else as my loyalty is in definite question now but don’t have that piece of paper. Thoughts?? WWYD?
Take the pay cut and spend all your time looking for another job. Best time to look for a job is when you already have one
Take the severance if you think you'd be competitive on the job market. A demotion and 15k pay cut kills your salary trajectory and will cost you potentially 100s of thousands over your lifetime. You'll find its harder to get promoted back now
Agreed! But if you decide to take a payout and stay, you should keep looking for a job, doesn't feel like it would be good for you to stay there.