Most people get it wrong when building their career. These people focus on achieving a title, making more money, having more responsibility or incremental improvements. Their pursuit for status and pay will not get them far or be sustainable. Their success will not be as great and their foundation will have cracks.
Instead, focus on job experience, building your skills and excellence. Take a lateral move, change departments or change industries. Take the cut in pay or the demotion. These aren’t short-term setbacks, they are experience and skill building actions that will benefit your career in the long-term.
Sometimes you have to take these perceived set-backs to get something bigger. The problem is that it won’t be obvious that it will lead to something bigger.