With everything that’s going on in society, you may be wondering if it’s the right time to pursue a high paying career. And then there’s the question of contributing to society, following your passions, or choosing a high paying career.
The job market is tough, especially with the difficulties coming from the pandemic. And a lot of college grads are currently underemployed. They are working in jobs not commensurate with their skills or qualifications. But despite that, there are still options for high paying careers. One just needs to look at job boards like Indeed to see the many jobs in high-paying sectors and industries.
Following your passion may feel like the best thing to do. But does it pay – literally and figuratively – to pursue a high paying career instead? Let’s look at some of the benefits of a high paying career and some of the reasons you should reconsider if it’s the right option for you.
Benefits of choosing a high paying career
Better mental health
There is a popular saying that money cannot buy happiness. But there is certainly a point to be made for being able to adequately take care of your needs without stress. According to a Princeton University study, you can put a price on happiness, and it’s approximately $75,000 a year. Based on the results of their study, the lower your income is to the benchmark, the unhappier a person feels.
Now there two types of happiness measurements. The first is the day-to-day good feeling you get versus the general satisfaction with your life. Persons who earn below the $75,0000 benchmark have a lower day to day feeling of happiness. The study shows that above the $75,0000 benchmark, it doesn’t really affect the day-to-day happiness measurement. However, it does positively impact the feeling of general satisfaction with your life, the higher the income gets.
So, contrary to popular opinion, yes, that high paying career can improve your happiness index.
Safety and security
High-income careers are often in industries that tend to be stable. This means you may have more job security, and it becomes easier to find other jobs if you need to leave your current employment.
A higher level of respect
Certain high paying careers naturally command a certain level of respect. It isn’t easy to reconcile this aspect of having a high paying job, given everything that is happening. But unfortunately, that’s just the reality we have to face.
But the power that comes from your position allows you to serve your community in a way that some persons cannot. You’re able to use that power by association to bring in recognition for efforts that need widespread support and public recognition.
Your passions may not pay well
We often hear work where your passions are or pursue your passions. But, doing what you love doesn’t always pay. And it’s not like all our passions can offer sufficient remuneration to pay our bills comfortably. Or give us enough that will allow us to support our families, friends, and communities in the way that we want to.
So, in that case, you can always make your passions your hobbies. Fulfill that need while maintaining your high paying career. In fact, that career can help you pursue your passions in a way that you couldn’t have done otherwise.
To live a debt-free life
Leaving college with student loan debt can be a death sentence for some persons. Not being able to secure a job that covers these payments and allow them to live a decent life is often a cry of many. Then there is moving in with family and in-laws because you can’t afford rent or your own home. Nor can you afford decent health care.
A high paying career allows you to clear student loan debt, become a homeowner, clear your debts faster, own a nice car. But even more importantly, it can help you build generational wealth, and that starts from being able to adequately support your family, save, and invest.
The money you can earn from a high paying career can solve many of the problems that most Americans face.
When you should reconsider that high paying job
Sometimes we can get blinded by the number of zeros in that potential payslip. But just because a job pays well, doesn’t mean you should pursue it. So, while we have been saying yes, you should absolutely consider that high paying career, we do so with some conditions.
For one, we always recommend researching the company values, and if possible, the people you will be reporting to make sure it aligns with your core values.
Further, high paying jobs often come with long hours and working in high-pressure environments. Therefore, your working conditions should be able to meet your mental needs, as well. Reporting to a boss that doesn’t value your input or feels pressured into hiring you as a “diversity hire” will certainly take a toll on your capabilities to function in the role.
So while we wholehearted say yes, you should go for those high paying career rolls, we say it with a caveat – make sure it’s at a company with a company culture in which you can function at your best. When you can deliver, you’ll enjoy the work you do, your co-workers and the many perks of having a high paying job.
Conclusion: yes, pursue that high paying career
You may feel that to contribute to society you should take on a role that offers direct social support to communities. But taking a high paying job can help you with this and a lot more.
Some of the reasons you should take that high paying career:
- You’re skilled and you’ve earned it. You wouldn’t be on a company’s radar for these types of jobs if you didn’t have the qualifications, skills, or experience to make it work.
- You’re paving the way for other minorities just like you to get into high paying roles. Don’t belittle your achievements or worry about what others might think. Focus on your goals and what you want to achieve – passion or not.
- You can now contribute to the social causes that you care about. Having a high-paying career means that not only can you support your family, but you can also contribute financially to the causes and social initiatives that mean something to you and your community.
If you’re convinced that it’s time to go after that high paying career, then it’s time to update your resume. It also pays to invest in career coaching to make sure that you’re on the right track to getting a high paying career.
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