Seventeenth-placed Hull are level on 28 points from 32 matches with Leicester City in 18th, but Bruce's side are outside the drop zone on goal difference with six games remaining.
"Everybody concerned takes a huge reduction in salary," Bruce told a news conference.
"The club has had a really, really stringent policy so that if we do get relegated the club doesn't fall into drastic times which a lot of clubs do.
"Most players take a 40 and 50 percent reduction in their salary which is key throughout it all.
"We are all realistic enough to know that yes we want to avoid going into the Championship but we have made sensible provisions.
"If you get relegated it's a major overhaul and you basically start over again on your journey, but you want to remain positive."
Hull travel to Crystal Palace on Saturday and they have four tricky home fixtures to come against Liverpool, Arsenal, Burnley and Manchester United.
With the bottom five -- Sunderland, Hull, Leicester, Queens Park Rangers and Burnley -- separated by three points, Bruce is aware his side must pick up points sooner rather than later.
"There is a certain level points you need to get to whether it's 34, 35 or 36," Bruce said. "There is no doubt at all, we could do with a result to get us started again.
"We have got six games to play. They are tough fixtures but our home form is pretty decent. A couple of weeks ago there was six, seven or eight teams involved. It was terrific.
"I think it's between the five clubs that are at the bottom. We have got to make sure we are not one of those three that unfortunately slips out of the league."
(Reporting by Michael Hann, editing by Ed Osmond)
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