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How To Choose Your Next Job With A Salary That Is Life-Changing

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Oh, the importance of choosing your next job with a salary that improves your life and allows you to reach your goals and exist without constantly feeling burnt out. 

 

What is that? I know! 

 

When was the last time we were able just to exist? As soon as we are employed, all bills start, we get into debt, and our lives are never the same.

 

Choosing jobs out of desperation and survival keeps you from reaching financial stability. 

 

If you are searching for your next job, I encourage you to read the following six tips to choose a job with a salary that is life-changing:

 

Evaluate your financial needs

 

Before diving into the work search, let’s run your numbers and see where you currently stand financially. Start by calculating your monthly expenses, including bills, groceries, savings, and any outstanding debt.

 

Then, determine the minimum salary required to cover these expenses comfortably. This salary will be your baseline when searching for your next job. Consider this the bare minimum. Aiming for the bare minimum will keep you in survival mode, also known as living paycheck to paycheck. 

 

Think about your goals

 

Let’s take this a step further. If you have extra money every month, what goals would it allow you to work on? A few examples are paying off debt, saving three to six months of an emergency fund, maxing out your ROTH IRA yearly, moving to a neighborhood of your choice, traveling, etc. 

 

The options are endless! 

 

Now, rerun the numbers so we can see clearer numbers. For example, If you want to save three months of expenses in your emergency fund, you start by knowing your monthly payments. Let’s say your monthly expenses total $3,000. And if your goal is three months of living expenses, then you multiply by three, giving you a total of $9,000. 

 

It is crucial to break down your goal into actionable steps. Let’s say your goal is to save $500 a month, leading you to reach your goal in a year and a half. 

 

Remember to break down your goals to get an estimated monthly number to help you focus on a salary that allows you to get ahead. 

 

Factor in work-life balance

 

Work-life balance? YES! 

 

This is to escape the hamster wheel of waking up in the morning, working, and going back to sleep just to do it again tomorrow. How do you want your life to look like? What hobbies can you exercise after work? How can you be more present with your loved ones?

 

A balance between work and personal life is essential to your well-being. Consider how job prospects align with your desired work-life balance. High-paying jobs that demand excessive hours may not be sustainable in the long run if they compromise your health, relations, or other personal goals. Prioritize positions that you are in alignment with. 

 

Research market salaries

 

Research salaries in your area with the title you are targeting. 

 

An online comparison website or looking into similar companies can help you start giving you a clear idea of the salary ranges. Some employers may ask you about your salary expectations, and you do not want to price yourself low. You can lead by asking what their budget for the role is. 

 

Assess the total compensation package

 

You can go beyond the base salary. Evaluate the entire compensation package, including benefits, bonuses, retirement plans, and perks such as working remote or flexible hours.

 

Sometimes, a lower base salary may be compensated by generous benefits or the potential for performance-based bonuses, making it a more attractive overall package. 

 

However, if your days are filled with a lot of stress due to debt and you barely make ends meet, focus on a higher salary instead of perks.

 

Perks will not pay the bills or help with your stress at that stage. The same goes for performance-based bonuses because those are promises, but anything can happen from when you are hired to when you receive the bonus. Management can change, bonuses can be taken away, or perhaps your team did not perform well, and you do not get a bonus. If you are counting on that bonus to get you ahead financially, you are putting yourself at risk. 

 

The ideal situation would be a high salary and perks. This way, you can financially get ahead and enjoy the perks that add to your well-being.

 

Negotiate wisely 

 

Do not hesitate to negotiate your salary and benefits after you receive a job offer. Employers expect you to negotiate, but the candidate often does not. 

 

This is your reminder that if a package does not include what you would want, know that it is okay to ask. Always remember your goals, needs, and wants to help you have that uncomfortable conversation. Feel free to leverage other offers you may have to make the offer appealing to you. Always anchor in your qualifications and the value you will add to the company when they hire you. 

 

When you have reflected on the six steps above, it is easier to know what salary to target that will help you get ahead financially and allow you to rest and take care of yourself. You can secure a job that offers a competitive salary and aligns with your personal and professional goals.

 

When we work together:

 

  • I help you set life and money goals that you are excited about 
  • I help you release stress centered on money and help you enjoy your current life
  • I help you with tools and teach you to manage your money to reach your goals without sacrificing fun

 

If this resonates with you, I invite you to work with me! I want to help you reach your money goals faster and experience less stress daily. Book a sales call.

 

I cannot wait to be part of your journey!

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ABOUT AUTHOR
Orlenda Cortez

Welcome to my corner on the internet! I’m obsessed with using money as a tool because it led me to pay off $30K in consumer debt in a year and a half, helped me save $20K in nine months to have my dream wedding in Costa Rica and is helping me build the life I never saw my family experience. Now I want to help others do the same!

Orlenda Cortez
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