I think often people tend to fixate on salary sometimes. And though that's not necessarily a bad thing, but there are many things beyond salary that contribute to general satisfaction (or lack thereof) with one's employment. Other factors to consider include:
- The general locale. Where will you be based and does that jive with other dimensions of your life? Not only does this include things like access to the activities you like, but it includes aspects of the two-body or N-body problems (will your spouse/partner be able to work in the same place, schools for children, neighbourhood, etc.)
- Cost of living. Related to the above, but it's something that people rarely seem to talk about. What's the housing market like? Local taxes? How much do groceries and utilities cost?
- Vacation time. This includes both the number of days vacation you earn and flexibility in choosing when you can take them. Also, what are your responsibilities/expectations (if any) while you're on vacation?
- Flexibility with respect to work-life balance. How easily can you flex your time to attend medical appointments, or pick up your kids from school? Can you take a personal day when you need one?
- Commuting time and other commuting related costs (fuel, vehicle maintenance, collision probability, stress, accessibility of public transit, etc.)
- The people you work with.
- Stresses associated with the work. In the position, is your authority commensurate with your responsibility?
- Benefits. What does the health plan look like? Dental plan? Pension and/or structured retirement investment strategy? Is there a professional allowance and/or a travel allowance and what can it be spent on?
There are a lot of reasons why someone may be happy with a lower-than-market-value salary.