October 2017


Job vs. Money: What do you choose?

Happiness is characterized in different ways by different people. One person may believe that job satisfaction will lead to ultimate happiness while another, believes that a substantial paycheck will do the trick. So, when the time comes to choose a career based on money or the job, what should the choice be?

It has been found that the “magic number”, which correlates happiness with salary, is $75,000. That is, once a person has reached the $75,000 pay grade threshold, their overall happiness does not have a direct response to anything above that. Adversely, being below that “magic number” causes the opposite reaction and exposes emotional pain points that may affect everyday life. While a high income may not sustain boundless happiness, there is a certain point of happiness that parallels a steady income.

The magic number identifies monetary happiness, however, taking into consideration the enjoyment in the work that is done day in and day out is also a major factor of happiness. The interest to advance and make an impact on the company and an individual’s life comes with having satisfaction in what a position entails. Understanding personal goals and objectives and aligning them with the company’s, opens the door to advancement and longevity, ultimately translating into financial success.

The driver of success and happiness – personally, professionally, financially – stems from the effort to directly shape our own lives. The human ability to find happiness and be successful in every aspect derives from creating an enjoyable life, which can’t be found by chasing a paycheck. While a high income may bring immediate satisfaction, the feeling will eventually fade and no tangible feeling of accomplishment will be had. Take the time to establish a prosperous life because the benefits of the work put in will follow.

Attracting Out-Of-Town Talent

Skills, compatibility, and drive – these are a just a few characteristics companies seek in potential new hires; however, there could be other various factors which makes a candidate more favorable. For instance, geographic location plays a large role in determining the difference between a suitable candidate and the perfect candidate.

The key to successfully broadening the hiring search pool is to understand the work style and abilities of the prospective hire and communicating how the company is invested in their future.

In order to attract job-seekers from in and around the company’s geographic location, focus on the industry and economic environment of the company that the employee may relocate to. Does this transition provide the best path for success and growth?

Rather than looking at the qualifications of a job, it is important to understand how, outside of the corporate structure, this candidate can find success and be happy about the decision to move. Highlight the location of the company by sharing favorite parts of the city and why many have chosen to build a career there.

Continue to stay true to the company’s roots. Make the culture of the workplace a central part of the discussion. Focus on the people, values, and opportunity the company has found success with as those qualities are what will continue the cycle of achievement.

Considerations for the Future

Making a career change can be difficult for anyone. However, the dependence of a transition for an executive weighs on the prospective employer and their future with the company.

Personal growth remains to be the most significant factor an executive considers when considering a career change. With an emphasis placed on continual learning, most executives search for opportunities that allow them to expand their skill set rather than chasing a title advancement.

And like any other searching candidate, executives also rely on the opportunities that the potential company offers. When given a chance to stretch their skills and abilities to new levels, allowing for them to see a significant change, executives are far more willing to shift to that new role than stay complacent in what they know.

Environmental factors come into account during the decision process, too. Is a shift in career going to make a positive impact on work-based culture? Will a transition allow for greater responsibility and oversight of a larger team? How will this position fall into the entirety of the organizational success? These questions all play a factor in an executive deciding whether to make a move or not. This element is mostly dependent on the overall goals of the executive candidate and the current state of their ongoing position.

While direct compensation does not play a significant role in an executive move, the financial stability of the organization does. If the prospective company shows greater return and less risk in company sales, work hours, employee turnover, mergers and acquisitions and competitive advantage compared to their current position, a top-level executive will realize those benefits and make the move into a new career.