My last two job changes I took a paycut, which speaks to the inverse relationship between my job performance and interviewing skills. I don't mind starting low as I know I'll move up quickly.

However in both cases during the first 1.5 to 2 years there were one or more 'senior-level' people quite aloof, disrespectful, and unprofessional in some of their remarks toward me. Not sure if it was my biased perception, or more likely they just treat everyone like that.

Point being, when you take a pay cut your more exposed to that sort of treatment.