When it comes to advancing a career, sometimes the best way to take a step forward is to take a step back.

For most people, a promotion is the cure for a stagnating career. They’ve accomplished and learned all they can at one job, so they aim for the next one up the ladder, hoping it will bring them bigger personal and financial rewards.

But a few pursue a much riskier strategy. Instead of trying to move up, they take a lower–level job that gives them valuable new skills and experience. They’re prepared to accept a short–term loss of income and prestige, betting that the knowledge they gain will lead to a better job down the road.

To figure out the best way to move ahead by moving backward, we interviewed successful executives who have made contrarian career moves. A few common themes emerged in their stories. For one, the executives said they knew exactly what they were getting into when they took backward steps. They knew what skills they were seeking in the new job, and since they had a broader career plan in mind, they were prepared to accept lower pay or a diminished profile to achieve it.

Moreover, they were pursuing a goal they felt passionate about; they weren’t running away from problems or dissatisfaction at a current job. Their backtracks were also grounded in success in one venture, which provided confidence and often a financial cushion to pursue an interest elsewhere. Finally, with a secure cushion, they were confident enough to take a backward step at any stage of their career—even on the cusp of retirement.

Of course, this strategy is not for everyone, nor does it automatically lead to the proverbial