Just to review some basics: The capsules of most condenser microphones can handle sound levels far beyond what their electronics can handle. That's why these pads exist; in effect they operate between the capsule and the internal electronics of the microphone. (In this particular case, the pad reduces the polarizing voltage applied to the capsule, which reduces its sensitivity.)
This type of pad does NOT reduce the microphone's inherent noise level, which mainly (as far as the potentially audible, higher frequency part is concerned) comes from the electronics. Thus this type of pad raises the microphone's inherent noise level 10 dB relative to the signal, and it should only be used when it is needed to prevent the microphone itself from overloading. But that rarely if ever occurs in music recording; any sound pressure levels (ca. 130 dB and above) that could overload this class of microphone would also tend to damage human hearing in short order.
If the signals levels coming from a condenser microphone are so high that they threaten to overload your preamp or recorder, but the microphone itself isn't overloading, a pad should be used at the input of that preamp or recorder--not at (or in) the microphone. That way, both the signal AND the noise will be reduced the same amount, instead of just the signal.
--best regards