My CTO has been researching this (large 30K emp. software company) and the current consensus seems to indicate that ~60% of the workforce is expected to continue to work remote. Offices will be redesigned as collaboration spaces, where (when it becomes safe) people will converge from time to time for specific activities, but the follow-up and rest of the work will be remote.
I fully support this, and I to a degree, I've been doing it for 6 years already, and I find it extremely effective.
And no, I would not take a pay cut. Companies pay for what I bring to the table. As long as they get what they want from me, it should be irrelevant where am I.