Being faced with the brutal decision of whether or not you'll take a demotion or be fired is not easy and it's an even harder choice to make. It would be easy to just want to up and walk away rather than face the humiliation demotion. But, unless you're in a secure financial position and have a lot of connections in your industry, you'll probably want to consider taking the demotion while you quietly go about looking for another job. After all, there's no better time to look for a job than when…