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How Money Affects Career Happiness

How Money Affects Career Happiness
career advice entrepreneurship happiness passion income money

    You know the expression ‘What would you do if money wasn’t a thing?’ Go ahead and ignore that, because money is a thing and we need it to survive. Finding a path that provides career fulfillment and a great paycheck comes easier to some than to others. When picking a career, does following a passion or chasing a paycheck lead to a happier life?

    There are a lot of factors that play into accepting the right job. Of course there’s company, location, timing, title and salary. Accepting a complex role with a great title in a place you love sounds like the perfect setup, but what if that job pays significantly less than the others in your field? Will a lower income affect your overall job satisfaction or make day-to-day expenses difficult to cover? What if your dream job offers your dream salary but a year into the position you realize it’s anything but what you had hoped for? At what cost do you leave for a role with lower compensation? These questions aren’t intended to make you second guess your career choices, but consider how compensation plays a role in decision making and overall job satisfaction. So let’s take a deep dive into how salary influences overall happiness when we let income determine our roles or completely ignore income when choosing a career path.

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    We spoke to a group of experts at GigSesh who provide career advice about the importance of money in their career decisions and happiness. When asked if the jobs they have loved the most have paid the best, the majority of people said yes, but on the other hand less than 15% said that salary was the most influential factor when picking a job or career. One expert, Vicente DyReyes, began his career as an investment banker in which he was the highest paid in his age bracket but also on the lowest end of the happiness scale. Now as the Founder & CEO of mise en place (mepNYC), he tells us that “happiness at work and at home has driven career decisions thus far.” DeReyes states that “finding happiness in your career is extremely attainable, and money isn’t even at the table to drive the decision.”

    They say that money can’t buy you happiness, but living paycheck to paycheck doesn’t sound like happiness either. Based on studies done across the United States, an average household income of 75K or higher does not correlate with overall happiness. While money might not be the only decisive element in career decisions, most young professionals desire compensation that will allow them to achieve or exceed this income. With a competitive job market and rising real estate and food costs, money is more sought after than ever, especially in large cities with notoriously high costs of living *cough* New York City and San Francisco *cough*. Yet 64% of Millennials would rather make $40K a year at a job they love than $100K a year at a job they think is boring. So more than ever, people are pondering if they should pick between a career of passion or a career that ensures a high income.

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    career advice entrepreneurship happiness passion income money

      When asked about how salary has influenced happiness at work, GigSesh expert Elise Giannasi told us that “In the past, I’ve used money as an indicator for the level of the job but also for how hard I’ll need to work. Working in jobs like HR or even consulting, your role can be rather similar regardless of the company. The more you are paid to do that job, the higher the expectation that you’ll always be on and the greater the responsibility and pressure. The money is great at first but the overtime hours lead to emotional, mental and physical burnout — which eventually outweighs any positives the higher paycheck brought.”

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      Some people are lucky enough to have passions that don’t make income and happiness mutually exclusive; software engineers who love writing code will most likely always be on the high end of the pay scale. Musicians who strive to be on stage might have a more difficult time supporting themselves when following their passion. The majority of us fall somewhere in the middle of these two extremes, wanting a career that is interesting, challenging and creative, but also pays well and has a promising future. Kevin Siskar, a Managing Director at Founder Institute New York believes that “the time we are given to live is a more scarce and precious resource than money. I believe you can make money doing most things in this world, so while it might take longer to get there at times, it’s best to make money doing something you enjoy. The earlier in life you realize this the more time you have to capitalize and grow while on the path you desire.”

      So why is it that so many people ask if they should pick between a career that brings happiness or a career that brings a higher paycheck? With rising education costs, it’s difficult to graduate without loans and justify a career that is not lucrative after putting yourself into debt. The fact that we’re able to have this discussion at all is a luxury as many people don’t have the opportunity to do what they love and simply do what they must to survive. Being grateful for the opportunities that you have and making the most of them is just as important as questioning if job satisfaction leads to a happier life than higher earnings.

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      Some people will spend long hours and overnights in the office to earn huge paychecks and live a lavish lifestyle once off the clock. Others value their free time more and choose career paths that may not pay as handsomely but provide compensation in the form of flexible hours and laid back work environments. So instead of asking if you should pick a career that brings you happiness or pick one that pays, think about whether a high paycheck or a passion-driven career is more important to you.

      Want to hear more from career experts about their professional experiences and get some personalized career advice? Check out GigSesh’s superhero roster of experts and sign up to book a call with someone who can help you find success while following your passion.

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      Gwen Schlefer

      PR Manager at Bonanza.com

      career advice entrepreneurship happiness passion income money How Money Affects Career Happiness

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      Last Updated on November 5, 2019

      How to Use Visual Learning to Work More Effectively

      How to Use Visual Learning to Work More Effectively

      Knowledge is essential to become successful in life, your career and your business. Without learning new concepts and becoming proficient in our craft, we cannot excel in our chosen careers or archive knowledge to pass down to the next generation.

      But content comes in various forms, and because how we learn influences how much we know, we need to talk about learning styles. This article will focus on how to utilize visual learning to boost your career or business.

      The Importance of Knowing Your Learning Style

      Knowing your learning style enables you to process new information to the best of your ability. Not only does it reduce your learning curve, you’re able to communicate these same concepts to others effectively.

      But it all starts when you’re able to first identify the best way you learn.

      As a college student, I soon figured out that taking online courses without visual aids or having an instructor in front of me led to poor retention of concepts.

      Sure, I got good grades and performed excellently in my online exams. However. I discovered that I couldn’t maintain this performance level because I forgot 80 percent of the course content by the end of the semester.

      There are several types of learning styles known to mankind. To give an idea of how visual learning stacks up against other learning styles, here’s a brief mention of some of the different types of learning styles we have.

      The four most popular types of learning styles are:

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      • Visual learning style (what this article talks about).
      • Aural or auditory learning style (learning by listening to information presented).
      • Verbal or linguistic learning style (learning that involves speech and writing).
      • Tactile learning style (learning by touching and doing)

      But for the purposes of this article, we will be focusing on using visual learning to boost your career or business.

      How to Know If You’re a Visual Learner?

      When it comes to boosting your career, business (or education), a visual learner is one who would most definitely choose shapes, images, symbols, or reading over auditory messages.

      I’m talking about preferring to read an actual map when navigating to a new place over listening to verbal directions. I’m talking about discovering that you actually have trouble remembering what your manager said at the meeting because there were no graphs or illustrations to support the points raised.

      Most people who struggle with learning probably aren’t leveraging their best learning styles. The earlier you identify how your learning style can boost your success, the less struggle you will encounter with processing new information throughout your career.

      However, visual learning in particular CAN 10x your career or business whether it is your preferred learning style or not. And here’s why:

      Several studies have arrived at the conclusion that the brain retains more information with the help of visual aids. In other words, images are directly processed by our long-term memory which helps us store information for longer periods of time.[1]

      While some lessons can be performed orally, several concepts can only make sense if you have an image with an explanation of sequences (i.e learning about the human DNA).

      Visual learning does use a different part of the brain and visual cues are processed by the part of the brain known as the occipital lobe.

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      By engaging more parts of the brain during learning, you’re able to have a fuller understanding of concepts and facilitate better interaction with your immediate environment.

      How to Use Visual Learning for Success

      Here’re 4 ways to use visual learning to boost your career or business:

      1. Bring back the to-do list. Then add shapes and colors to boost productivity.

      We live in an age where computers have taken over virtually every aspect of productivity and most human functions. But written lists are making a comeback, and with an endless number of important tasks to complete, having a to-do list of tasks in order of importance can improve your productivity.

      While coming up with a list is initially challenging, adding colors and shapes to written lists that you personally write and manage gives you an extra layer of assurance and boosts aids recall so that you actually get stuff done.

      I have tried this technique in my work as a registered nurse and discovered that adding shapes and colors to to-do lists helps me delegate tasks, recognize where more work is needed, and makes it easy to cross off completed tasks at the end of the day.

      2. Add graphs, charts and symbols to your reports.

      Yes, it seems like more work cut out for you. However, graphs enable you monitor the heartbeat of your business.

      Graphs and charts help you trend your finances, budget, and pretty much any data overtime. With the help of free and premium software available on the market, it has become easier to take plain data and in a matter of seconds, have relevant information displayed in different shapes and images.

      As an entrepreneur, you can make predictions and allocate funds wisely when you’re able to see whether your efforts are rewarded. You can use colors and charts to delegate actions to members of your team and track performance at the same time.

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      And when broken down into monthly, quarterly, bi-annual or annual goals, graphs and charts communicate what ordinary text cannot.

      3. Effectively brainstorm with mind-mapping.

      Mind-mapping is not new but I don’t think it’s been talked about as often as we do to-do lists.

      With mind mapping, you’re organizing information accurately and drawing relationships between concepts and pieces from a whole.

      Think of a mind map as a tree with several branches. For example, the tree can symbolize healthcare while each branch stands for nursing, medicine, laboratory science, and so on. When you look at nursing, you can further branch out into types of nursing; pediatric, women’s health, critical care, and so on.

      It’s an interesting relationship; the more ideas you’re able to come up with for your chosen subject, the deeper you get and the stronger the association.

      Mind maps really show you relationships between subjects and topics, and simplifies processes that might seem complicated at first glance. In a way, it is like a graphical representation of facts presented in a simple, visual format.

      Mind mapping isn’t only limited to career professionals; business owners can benefit from mind mapping by organizing their online learning activities and breaking down complex tasks into simple actions so that you can accurately measure productivity.

      4. Add video streaming to meetings.

      What if you could double the productivity of your team members by video streaming your meetings or adding flash animation to your presentation at the same time?

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      When you offer video as an alternative method of processing information to colleagues, there is a greater chance of retaining information because we recreate these stories into images in our minds.

      For organizations that hold virtual meetings, it can also be an effective way to enhance performance during if people can see their colleagues in addition to flash animation or whatever form of video is provided during the meeting.

      Is Visual Learning Better Than Other Learning Styles?

      No, that is not the point. The goal here is to supplement your existing dominant learning style with visual learning so that you can experience a significant boost in how you process and use everyday information.

      You might discover that understanding scientific concepts are much easier after incorporating visual learning or that you’re able to understand your organization’s value when projected on a visual screen with charts and graphs.

      The overall goal is to always be learning and to continue to leverage visual learning style in your career and business.

      More About Learning Styles

      Featured photo credit: Unsplash via unsplash.com

      Reference

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