I am debating whether to accept a job offer please help.
I currently am a project mgr at a retail company that has filed for bankruptcy protection and that just laid off a number of associates. Luckily I was not laid off but I do not know whether they will make it through bankruptcy. I have been there several years. I live in Richmond Va and the job market is awful here. No jobs anywhere. It may open up at some point next year. I was able to find a job as a project administrator - basically no direct reports, just follow-up and what not. about 50% of what I do now. It is with a company that is not based in richmond but that has a 4 year contract with a state agency in the area to redo its pension system. the opportunity sounds good but they have offered me 20K below what I make now with reevaluation in 6 months. the benefits are comparable. the owners of the company does not buy into the fact that the project mgr needs a person with my qualifications so they are not willing to pay for it yet. I will also say that I am basically the sole provider of my family - husband, 2 stepkids, and 1 biological kid. The good thing is that we could live on 90K b/c we live below our means.
Do I accept the job even though the pay is much below what I make now?
Answer: I think you should try to find out more information about your current employer. Do you really know if they will or will not make it through bankruptcy? Have they filed Chapter 11 or Chapter 7?
Most publicly-held companies will file under Chapter 11 rather than Chapter 7 because they can still run their business and control the bankruptcy process. Chapter 11 provides a process for rehabilitating the company's faltering business. Sometimes the company successfully works out a plan to return to profitability; sometimes, in the end, it liquidates.
If they've filed a reorganization plan with the SEC you should be able to find it here: http://www.sec.gov/idea/searchidea/webusers.htm . Take a look at the plan and try to see if you think it's bull or for real.
Before you jump ship, make sure you have all the facts. If after looking at the facts you decide that their plan is not doable, take the other job.
The point that I'm trying to make is to make your career decisions on fact and not on emotion. It's very easy in this economic environment to feel like everything is caving in on you. People that make decisions on facts will get through this.