How much of a pay-cut would you be willing to make?

I am one of the many folks that was impacted by layoffs in tech earlier this year (in May). I have been hunting for months with no offer letters yet (I have gotten to final rounds of interviews but no offers yet). I have one opportunity that looks like it could turn into an offer, but the compensation would be significantly lower than my last role and the title could look like a step backwards in my career. I am the benefits holder of the family, so I can't afford to go into the New Year without something lined up. I plan to negotiate as much as I can should an offer come through, but am also struggling with both the paycut and the title. While I would love to wait it out a few more months and find something with better pay and better title, time is not on my side and I am exhausted by the search and the endless rejection. I also have a family that I have to support.

Advice? Feedback? Have you done this before and negotiated successfully?

First off, yes, you can absolutely negotiate many things including salary, bonus opportunity, title change, and a sign-on bonus. If you don't get what you need, then take the job anyway and think of it as a bridge job (a job that you take right now to tide you over until you find the right fit). Then, keep looking for an opportunity that fits your needs. I was very lucky and took a contractor position (I didn't need the benefits at the time) and then was able to take my time and find the role I really wanted. Having incoming coming in, decreased the pressure to just take a job and instead, focus on what I really wanted out of my next company and role. Good luck!