Thanks for writing this! I also voluntarily reduced my salary for several years (and lived partly off my savings) and had been meaning to write about this for some time but never got around to it. It’s always been somewhat puzzling why this isn’t more common. While it probably shouldn’t become a norm for the reasons you outline, my sense is that more EAs should consider this option (though I may be underestimating how common it is already).
I agree with all the downsides you list but I could imagine there are also other upsides to voluntary salary reduction. For example, it can signal your commitment to both your organization and to taking altruistic ideas seriously—following the logic where it leads, even when that means doing unconventional things. This might inspire others.
I also worry that we might be biased to overestimate the downsides of voluntary salary reductions: Donating creates tangible satisfaction—the concrete act of giving, the tax receipt, the social recognition, etc. Taking a lower salary offers none of these psychological benefits and can even feel like a loss in status and recognition.
Very much agree.
Also, some of the more neglected topics tend to be more intellectually interesting and especially appealing if you have a bit of a contrarian temperament. One can make the mistake of essentially going all out on neglectedness and mostly work on the most fringe and galaxy-brained topics imaginable.
I’ve been there myself: I think I’ve spent too much time thinking about lab universes, acausal trade, descriptive population ethics, etc.
Perhaps it connects to a deeper “silver bullet worldview bias”: I’ve been too attracted to worldviews according to which I can have lots of impact. Very understandable given how much meaning and self-worth I derive from how much good I believe I do.
The real world is rather messy and crowded, so elegant and neglected ideas for having impact can become incredibly appealing, promising both outsized impact and intellectual satisfaction.