Chunky pay cut for buyside experience?

Landed an offer at a small-ish AM shop (~$100bn AUM) based in continental Europe. Role looks amazing, the team I interviewed with seem really good, and it looks like I'll be getting great experience and a lot of responsibility early on. I'm currently at a ratings agency so this is the best kind of exit I had hoped for (and is increasingly difficult to get). 

Only snag is the pay. Taxes are extremely high in this country, so salaries tend to be quite low and untaxed perks generous (though overall, package would still be lower than what I'm making at a ratings agency, especially after tax). I've looked at salaries at other companies in this country and they're also low, so I don't think I'm being low-balled or anything. 

Temptation is to try and negotiate the salary up to the top of the range they quoted (though because the taxes are so high it will hardly make any difference) and take the job. 

Thoughts?

 

If you want the role, do it. Someone who’s truly passionate about investing wouldn’t think twice, even if it means sacrificing pay up front. Unless the terms and progression are truly bad, it should pay off later on down the road. You can always lateral somewhere else after a few years too. Ask yourself where you want to take your career and make the choice accordingly. Personally, unless the pay was barely livable or an enormous step down from current >30-40% I would take it without hesitation.

 

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