I always hesitant to take the job, but didn't have many options.
The pay cut will hurt, but I'm more concerned about the job environment and job expectations about the big city job. I've never really done academics, so its hard to know if I can succeed doing it...
Another issue I thought about, is that my skills in my subspecialty work would continue to erode as my bosses hired another person to start this summer with the same skill set. Only so much work to go around.
I could argue that my wife could find work in the big city, which she could - she can't here, but then it would be offset by the high costs of day care etc
Life is never easy ..