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how much should a salary of a job influence your decision?

I'm a sophomore and I feel very worried about getting a good paying job and it heavily influences my goals.

college money job career-choice financial-planning salary
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Greta’s Answer

We're all unique, with our own personal dreams and ambitions. In the end, it's important to take a good look at what matters most to you in life. This could be anything from maintaining a healthy balance between work and personal time, advancing in your career, honing certain skills, or finding a workplace that shares your personal values. Once you've figured that out, try to find a role that matches these priorities.
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Tammy’s Answer

Hi Aaron,

Something jumped out at me when I read your question and that is the use of the word SHOULD. I learned very early on that "should" is a value judgement. What I think you should do will not be the same as what another person thinks you should do. It depends on where each of us is coming from. What is the sum of our life experiences.

What I can tell you is that your salary is the money that will afford you the lifestyle that you want. Some people want more money so they can lead an extravagant lifestyle. Other people have different values and require a lower salary and are content to spend less so that they can live within their means even if that equates to a "lower" standard of living.

Once you start working, whatever the salary, I would encourage you to keep track of both the money that is coming in and the money that is going out. In this way you will always be on top of your finances and can make decisions about future job and lifestyle choices from a position of knowing what you need and want. What you value!

Good luck,
Tammy
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Alan’s Answer

Aaron, there is no formula or objective answer. The relative importance of salary in determining the direction of one's life is a personal decision, depending on one's values, along with the available opportunities. For me, money was never a factor in the decisions I've made. And I've realized the consequences and accepted them. What my value system tells me is that, for those privileged enough to have choices, and there are many who don't, there are only two kinds of jobs that are worthy of devoting one's life to: those that help people and those that fulfill one's own creativity. Sure, one has to pay the bills, and take full responsibility for the care and futures of any children he/she brings into the world. And it's nice to have enough beyond that to live a comfortable life, especially in retirement. But the decisions you make now could well determine the job you'll either enjoy and fine meaningful or be stuck in for the next fifty years. So the question becomes, what interests, hobbies, skills, values and experiences do you have that would help with such a decision, and what do you want your life to say about you? Are those goals you refer to a matter of wealth and prestige, or are they about doing good and the inherent value of what you'll be doing? Yes, from a practical viewpoint you must consider everything: where you're going to live and the cost of living, how much if any debt you'll have accrued from college, whether you intend on having children, what lifestyle elements you need, etc. Try imagining yourself at my age looking back on your life. What choices would you make then? Whatever choice you do make, you'll be sacrificing something. What are you willing to sacrifice, and to what end?
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Alan’s Answer

Aaron, there is no formula or objective answer. The relative importance of salary in determining the direction of one's life is a personal decision, depending on one's values, along with the available opportunities. For me, money was never a factor in the decisions I've made. And I've realized the consequences and accepted them. What my value system tells me is that, for those privileged enough to have choices, and there are many who don't, there are only two kinds of jobs that are worthy of devoting one's life to: those that help people and those that fulfill one's own creativity. Sure, one has to pay the bills, and take full responsibility for the care and futures of any children he/she brings into the world. And it's nice to have enough beyond that to live a comfortable life, especially in retirement. But the decisions you make now could well determine the job you'll either enjoy and find meaningful or be stuck in for the next fifty years. So the question becomes, what interests, hobbies, skills, values and experiences do you have that would help with such a decision, and what do you want your life to say about you? Are those goals you refer to a matter of wealth and prestige, or are they about doing good and the inherent value of what you'll be doing? Yes, from a practical standpoint you must consider everything: where you're going to live and the cost of living, how much if any debt you'll have accrued from college, whether you intend on having children, what lifestyle elements you need, etc. Try imagining yourself at my age looking back on your life. What choices would you make then? Whatever choice you do make, you'll be sacrificing something. What are you willing to sacrifice, and to what end?
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Jessica’s Answer

Hi Aaron! Everyone is different on how much they let salary influence their decision when choosing a job. There are many other things to consider for example medical benefits, PTO (paid time off), company culture, opportunities for growth within the company. One thing to consider when looking at salaries is cost of living. What are your expenses (cell phone bill, car payments, insurance, rent etc). Cost of living depends on where you live for example, California where the cost of living is higher vs South Dakota.
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Mark’s Answer

Money certainly holds significance, but finding joy in your work is equally crucial. It's a delicate balance to maintain, indeed. I've seen individuals who've pursued their passion, only to grumble about their income after a few years. Conversely, others have chased lucrative careers, only to find themselves unhappy in their daily grind. It's essential to strike the right equilibrium. Bear in mind, your career path isn't set in stone. Stay alert and receptive, build a supportive network of trustworthy individuals who can provide valuable insights and keep you informed of potential opportunities. Once you embark on your career journey, invest your efforts, and then some, to excel in your role. Be patient and don't hastily abandon your path. Allow it the chance to reveal its true potential, both in terms of personal satisfaction and financial gain. Look forward to the exciting journey that awaits you!

Best,
Mark
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