I was laid off about a month ago from a consulting firm (first job) after 6 months on the job and was paid a salary of 85K. Recruiter reached out with a contract role 6months possible conversion on w2 that pays 30$/hr max negotiable is 34$/hr. This would be for a jr data scientist role. For context I live in LCOL area. Should I keep looking or just take it and see what comes out of it. TC: 0
Focus on the responsibility and opportunity to learn, if it’s a better or well known company that uses the tools you want to continue to learn, pay is less important unless it does not cover your cost of living.
I’m all about learning something new, thank you for the advice!
Just take it and keep looking
This!!
Solid idea thanks AT&T!
Take it! Any opportunity is good for the time being.
I agree, will push for this. Thanks!
$85k comes out to $40.86 per hour given a standard 40 Hr/week. Like others have posted take it, learn, make some income while you still search. It will most likely take 3+ months to find anything more longer term or permanent so might as well be making the $34 per hour vs. $0. Lol when i read the title "Take extreme pay cut" i thought it would be a post about an ex FAANG SW engineer going from $450k TC down to <$200k TC.
Chances are, if you are an FTE, and in consulting, you are working a lot more than 40 hours, making the pay a lot less than $40.86
Management consultant gets anywhere from $180k to $220k, lead goes up to $300k and principals in the $400k range. They probably put in 60+ Hrs per week. Or at least bill for that amount. Consultant on higher end $220k @ 60 Hrs per week comes to $70 per hour. Lead $300k @ 60 Hrs per week is $96 per hour.
Just take it . The current job market is not so good, so take it get some experience and keep looking for better opportunities. Best luck.
The pay cut is not from 85k to 30/34 per hour. Your pay cut happened a month ago from 85k to 0. Now it's a bump from 0 to 30/34. Take it, and search for your next bump
Mind blown, I didn’t look at it that way!
Take it and get experience
Awesome great examples. Hopefully the others get the point made in previous comments. If you are at 0=TC. Getting some lower TC then expected TC is better than no TC. Waiting for larger TC could be 6 months to a year. Issue is often times, when your termination date gets older for some reason your TC value goes down. Its like a home in a hot market, once its listed it's hot, but after about 30 days the value is not as hot.
85k for 6 months or annual?
6 months in your first job is very little, I think you're still in the stage where you desperately need experience so you can't be too picky especially in the current environment. LCOL could mean much so I won't judge whether 30/34 / h is fair or not but for a 6 months job you can practice and line up somethong better or prove you're worth more than that on conversion
This is very insightful thank you. I’ve been searching for something for 2 months now and haven’t received any offers but I’ve been apart of multiple last round interviews…I’m trying my best to not get depressed about it. Only thing keeping me afloat is my fiancé supporting us. Hopefully I can land something soon.
$30 an hour >> $0 / hr