Should you take a salary cut?

One of the most common worries for people changing careers is that a lower salary would mean a lower quality of life. 

Russell Clayton, a business professor at the University of South Florida, said a way to overcome these worries was to test out an estimated salary before moving roles.

“A candidate should try and figure out what they expect to earn, and live on that for two to four months. This will give them a realistic picture of what life would look like, from an income perspective, in their new career,” he said. 

He said taking a 10pc salary cut would be relatively easy as subscription services and restaurant meals could be cut, but a major pay cut would be more challenging.

“They should look at major spending categories to identify cost-saving opportunities. Are there more-affordable housing options in the area? Can they cut commuting costs by using public transportation?” he said.

However, Ms Stapleton said a career change did not necessarily mean a pay cut. 

“People in their 20s and 30s can often move without taking a pay cut. As people get older, this becomes harder, but only because they have had more time to reach a higher payer role. 

“A pay cut is usually temporary, however, as people can quickly rise up the career ladder again,” she said.