Just a few decades ago, the thought of taking a pay cut was preposterous. A history of a steadily climbing paycheck as you advanced through your career, gaining experience and promotions, was seen as proof that you were on the right track. The idea was "more, more, more" and if the number of zeroes dropped, so too did your standing.
Times have changed. Today, salary ups and downs are seen as par for the course. Given the unsettled economic environment, the only rule about salary is that there are no rules. In a society that has been taught to pursue ever-increasing paychecks, we are learning that sometimes taking a pay cut can actually be the more prudent career move. Here are seven situations in which it makes sense to take a cut in pay.