But it isn't a paycut - at best I am declining to look for a pay increase. And that is ok. I think plenty of people would do it - at a certain point we make more than enough to fund our interests and lifestyle.

I am always happy to make more, but I don't _need_ to, so my decision matrix on where to work extends beyond the question of dollars into consideration of people, mission, industry, possibility of making an individual impact, openess to remote work (I will not be going back to an office, at least while my kids are young) etc.