It is funny that you think that Bush is "taking a huge pay cut...to be president." Being President would earn Bush much more than he would made had he decided not to use daddy's connections to get the gig (and that doesn't even taken into account all the -- let's call them "favors" -- rich and powerful people will return once he leaves office (hopefully after this term).

After he leaves office, he will be able to make a ton of cash accepting speaking invitations (which is kinda funny if you think about it) and if he decides to avoid speaking invitations (like he has done as the President), he can always go back into the private sector and run a few more companies into the ground.