Pay cut for exit opp... is that normal?

Title sums it up: is it normal to have to take a pay cut to move to an exit opp from S&T? I’m looking at a job that would put me at ~$150k all-in (from ~$210k as an S&T associate). Maybe this is a standard trade off for a better WLB.. or maybe it’s a low ball comp package. Anyone have data points / know whether this is fairly common?

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