| famousringo said: Yeah, I might keep working or I might not, depending on various factors, but I would definitely start looking for another job. Nothing would suck harder than accepting a month's work without pay, then finding your job no longer exists at the end of that month. As I mentioned in another thread, I would be more amenable to a pay cut than a month without pay. At least if the company goes under after that month, I get to keep something for my efforts. |
Taking a pay cut equal to 1 months worth of wages is worse over the long run assuming the company recovers and continues to hand out raises. Let's say you get a 5% raise every year. It would take 2 rounds of raises to get yourself back to pre-paycut wages. You won't make back the wages you lost for ~4 years, let alone the money lost because your wages are lower than they should be.
If you worked for 1 month without pay, two years later you already made all the money you lost back, plus the following year you are making a lot more money.
Working the 1 month without pay is more beneficial, but you are betting on the company surviving and also that it will continue to give out raises every year. If the raises are lower than 5%, then just extend how long it takes to make your money back but it is always worse in the long run for the guy who took the paycut.
