Your boss cuts your pay from $60K to $45K, what’s your next move?

You were making $80K at a company that abruptly closed its doors. You got a new job in a different type of position, making $60K but after just six months your boss cuts your salary down to $45K. What’s your next move?

1. Quit and walk out of the office.

2. Accept the reduced salary and immediately begin job hunting.

3. Accept the reduced salary and stay, attempting to work back up to a reasonable salary.

Assume $45K allows you to pay your bills and eat but you break even every month and cannot save or even spend without losing money.