Recent college graduate: do what you love or what pays the bills?

Career Opportunities & Internships
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Hello all. I would really appreciate some advice. I graduated in December with a bachelor’s degree. I have moved back with my family to work in my hometown and save money so that I will have money to move to a larger city where I live and work. I am at a crossroads and I would greatly appreciate any help. I studied comparative politics and wrote an honors thesis on this topic. I originally wanted to work somewhere where I would be able to put my knowledge of comparative politics to use. However, this is proving to be easier said than done since there are very few job opportunities related to this and most of them are in expensive cities like DC or New York. In addition, a lot of them don’t pay very well (think $35,000 salary in NYC) and I have student loans to pay off.

This got me thinking about working in something that I may not enjoy as much but that will pay more. During my last semester of college, I was being recruited by a tech company from Silicon Valley that has offices throughout the country. I turned down the offer because I wanted to pursue something related to what I studied. From what I’ve heard, that position would have paid very well.

I am now having second thoughts about my original plan because of the very few opportunities and the relatively low pay for those jobs. Has anyone ever picked a high paying job they’re not really passionate about or interested in over low paying job that is more interesting or “fun”? If so, how was it? I’m mostly worried about paying off my loans, affording health insurance (I was uninsured throughout college), and saving.

I have heard some people say that it’s better to pick the high paying job and do what you’re passionate about outside of work. I have heard others say to do something you’re passionate about for a living. I also worry that if I pick the high paying job in a different sector, I will regret not working in something I love and will have that “What if?” feeling. I also think if I end up in the wrong sector it will be hard for me to change careers. What should I do? Thanks.

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There is a more important question to ask, and that is, what do you want out of life? Do you want your career to define you? Many people do and many people don’t, but the problem is when someone’s ideals and realities do not align.

Let’s say you want your career to define you. If that is the case, you are willing to make sacrifices to see that through, including financial sacrifices. You figure out how to make ends meet on a shoestring budget to start. Your career doesn’t have great financial prospects, but you are making a difference, and that is what is important to you. In this case, you will figure it out - federal student loans can be spread over a longer period with lower payments, and even expensive cities have inexpensive (if not undesirable) areas.

Let’s flip the coin and say you don’t want your career to define you. If that is the case, you are willing to sacrifice enjoyment at work for the sake of putting together a comfortable life outside. You put in your time and work up the ladder, and you wind up in a semi-secure middle management position. You are married with children, you participate in charities, you coach your kids in sports / direct shows / teach piano, whatever!

When you get to retirement, you will probably be happy in either situation.

Student loans are terrifying. When you start out your career with seriously negative net worth, it feels like the weight of the world is on your shoulders, and there’s nothing you can do about it. But here is where the real problem starts. Let’s say you are passionate about something but unsure that you will be able to make a career with it. You take a job doing something you don’t care for. Well, your coworkers and superiors will figure out pretty soon that you’re not so passionate, so after starting at $70,000/yr in an analyst role in 2016, you wind up at $75,000/yr in an analyst role in 2020. By 2024, you haven’t moved up (or maybe you got one promotion), and you find yourself laid off, with skills only in something you have no interest in. On the other side, let’s say you go into something you’re passionate about and start at $40,000/yr. You struggle financially, but you excel at work, and your peers/superiors notice. You get several promotions, change jobs a couple times, and you find yourself earning $80,000/yr by 2020.

Your reality is going to be more complicated than any website is going to tell you, but it probably isn’t going to be truly unique. If someone tells you to follow your heart and throw caution to the wind, they aren’t giving you such good advice… really, you should follow your heart but be practical about it and know your own limitations. Think about your passion and then look at salary prospects. Don’t look at national averages or medians because that doesn’t account for cost of living ($40,000 looks pretty lousy if you’re in San Francisco, but not if you’re in Des Moines!). Also look at benefits. If you are passionate about becoming a teacher but afraid of a $33,000 salary, don’t forget that in addition to salary you get excellent health benefits, you may get higher education benefits, and you may get a pension that requires little contribution, not to mention loan forgiveness programs directed toward teachers. And you would get a summer to make extra cash, tending bar, waiting tables, lifeguarding, etc.

Research is your friend in this case. Figure out the jobs you have interest in, figure out what you’d do, figure out the money and the perks beyond money, but before you do ANY of that, figure out what you think you want out of life, and use that as your guide.