My situation is a bit complex. Because my wife has moved to another state for her work, I want to be able to join her, but I don't want to leave my current employer. I've requested the ability to work remotely 100% so I can move to be with her. My employers have found a new role that can be done entirely remotely within the program I'm working on and rather than have me leave the program or worse, the company, they'll help me out by making this transition happen. I'm very grateful for their willingness to do this.
However, the new role is funded at about 20% less than I'm currently making. I really don't want to cut my income down, especially since my current financial circumstances are not great, due to maintaining two residences, and double bills between my wife and I.
My boss and his boss have met with me and told me to come back to them after considering the situation. They say that the closer to that 20% cut I can accept, the faster and easier it will be to get the switch approved and make it happen. My financial situation is one where we'll be in very bad position by spring as long as we're maintaining two homes. But too much paycut will make it harder to afford the work on our current home that will be needed to sell it.
I'm not required to accept the 20% and might come back with something else, but the less cut I can accept, the harder it will be to get me approved to move roles and be free to work remote. My market value will not go down because of this role switch, even if my income does, so I'd be highly under-paid for my qualifications if I accept a cut. Frankly, I'm not sure why the role rate matters, I'm already making what I'm making out of the same budget. My desire is to insist on not having my pay cut. Who wants to lose 20% of their income? Should I push to not take a cut in my income, or cooperate and accept the 20% cut or some lesser cut?