College Graduate Expectations: Money Isn’t Everything

As most young graduates are beginning to learn, it takes more than an undergraduate degree to be making the big bucks. As students graduate, leave school, and embark on a life of their own without the security of their parents or low-interest rate school loans, they are bombarded with the reality of paying off student debt, as well as their own necessities, rent, and utilities. This is coupled with the realization that many will earn, at best $40,000, in their first entry level position.

Although money is very important as a college graduate, choosing a career or job position based upon one factor – Money – is the wrong strategy. There are a multitude of other factors at play not only in employer compensation but in personal development and industry economic conditions as well.

Beyond money, here are some things to consider when looking for that first career opportunity:

Think Long-Term

• Where would you ultimately like to be? Your first job should work to build towards this end goal. Selecting a career path based on an entry level salary is a a short-term decision that can potentially lead to a costly career meltdown or change in the future.

Industry Reports

• Reported industry salary numbers are median figures, half of people in the field earn more and half earn less.
• Often times, the reports predicting growth or wage increases in the field you chose upon entering college are just that – predictions, not facts.

Interests

• Focus on your interests – when you become an expert in the field you truly love and enjoy, the money will follow. People and companies pay for true knowledge, understanding and talent – make your interests work for you!
• Selecting a career based on the statistics, such as job-growth and money can be a recipe for disaster. Ensuing boredom or the loss of interest in your field can make for a miserable career choice and limit your career growth opportunities.

Skills & Abilities

• If you don’t have the skills and abilities to do the job, it can be hard to find or keep a job. That should be pretty obvious!
• Don’t waste your time pursuing a job outside your skills and abilities, instead find the areas you need to work on and find a position where you can work on them

Values

• Are you ready to be consumed by your career right out of the gates? If so, maybe you deserve that $75,000 a year. For most college grads, 70-80 hour weeks are not in the cards.
• Also, many high-paying careers may require for you to concede your sense of integrity, and pride to be successful and appease your co-workers.

Personality

• Being cognizant of your personality traits can help you find a position that in time can make you big money.
• Are you introverted and shy? Maybe you shouldn’t be pursuing a job as a pharmaceutical sales consultant or an account manager where you are intricately involved with clients.
• Your personality also plays into the type of company you choose to work for. Corporate culture can impact the way you feel, think and act both inside and outside of the workplace.