A Guide for Choosing Between a Job for Money vs. Passion
Updated December 12, 2022
Salary is often an important consideration when applying for and choosing a job. People often weigh their financial needs against jobs that might fulfill their passions in different industries. Learning about these two factors to consider when pursuing a career can help you decide if one might be more important for your professional and personal life.
In this article, we discuss choosing a career for money versus passion, including the benefits of both and key considerations when thinking about these two aspects of a job.
Choosing a career for money versus passion
When choosing a career path, it can be important to understand the differences between pursuing one that can earn you more money or one in your field of passion. When you choose a career for money, you're basing your choice on how much your employer will pay you. This could include hourly pay or yearly salary plus extra compensation like bonuses and company stocks. People who choose a career or job because of the amount of their paycheck may value the money for various reasons that could include taking care of their families, purchasing a house or saving for retirement.
Choosing a career for passion means basing your choice on how happy you'll be to do your job. Passions are unique to each person, and when someone chooses a job for passion, they typically care more about how the activities of the job may make them feel or affect their health and free time than the compensation.
Related: 8 Ways To Find Your Passion
Benefits of choosing a career for money
Here are some of the benefits of choosing a career for money:
Money for wants and needs
A significant benefit of a high-paying job is that you'll likely have more money for things you want and need. Because employers may distribute compensation differently, you may have more or less money at certain times of the year. Still, a job that pays well can help you afford necessities like house and car payments, food and utility bills, plus things you want but don't need like designer clothes, fun activities and tech gadgets.
A well-paying job may improve your reputation and give you a higher social standing. High-paying jobs may require advanced degrees or knowledge and often are roles with more authority, which people may respect. A good reputation because of a job that pays well can also increase social influence and self-confidence.
People with well-paying jobs may expand their networks with powerful connections. Since jobs that pay well often employ highly educated and influential or experienced people, you could have many opportunities to create networking connections that can help you learn more, get promotions or find a new job later in life. In addition, jobs that pay well may operate worldwide, so you can get to know people from many places.
Related: 20 High-Paying Travel Jobs
Aside from paying for usual wants and needs, a job with a high salary can provide you with extra monetary security in case of emergencies. If you have extra income from a high-paying job, you can put it into a savings account that can help cover surprise expenses, like a move to a new home or a new baby. You might also get additional benefits, like a pension or retirement account, that can prepare you for a secure future.
Choosing a high-paying job can also help you retire early, which may benefit many people, especially if you aren't passionate about your job. Often, employers that pay well will match their employees' retirement accounts up to a certain amount, which helps you save even more money besides your high salary. If you choose a high-paying job and keep a sizable amount of your pay for retirement, you may be able to retire early and enjoy the money you saved with more free time.
Benefits of choosing a career for passion
Besides the benefits of high-paying jobs, you can consider these benefits of choosing a job that you love and are passionate about:
Improved career growth
Choosing a job you're passionate about can improve your career growth rate because you may be more willing to put in extra work to achieve your goals. When you're passionate about your job, employers, clients and customers can tell, which can help you get promotions or supervisory roles within your field. You also might have strong expertise in areas others don't have that can help you grow in your role.
Similarly, loving your job can increase your productivity. This benefits both you and your employer, as you may be more likely to get more work done in a shorter amount of time and increase positive outcomes while doing something you enjoy. Increased productivity can also lead to promotions and new knowledge opportunities that may further your career.
Having a job you love may also help you maintain your physical and mental health. This is because you are likely to enjoy what you do and feel happy or excited to accomplish your goals. When you're satisfied with work, you're less likely to procrastinate or feel stressed, which helps your body and mind maintain health. Plus, these jobs usually work fewer hours than high-paying jobs, so you'll have more time to get sleep and focus on yourself.
If you choose to take a job you're passionate about, there's a good chance your colleagues will also be passionate about their jobs. This may create a pleasant work environment because everyone in the workplace is happy to be there. A good work environment and colleagues you enjoy working with can make the workweek a great experience.
Sense of fulfillment
People who work jobs they love are likely to have a greater sense of contentment and fulfillment. Since people spend much of their lives at work, some may find it essential to feel satisfaction from the responsibilities of their role because it makes them feel good about what they do and how they affect others. This type of happiness can increase overall well-being and encourage a person to stay in their job for a long time.
What to consider when choosing between a job for money or passion
Depending on your situation, there may be many things to consider before choosing a job for money or passion. Here are a few important things you can consider when making your choice:
Enjoying your work every day
If you choose a job you're passionate about, you would likely have to do that activity every day. Think about how you would feel doing something you love every day of the workweek. Some people would be excited to do what they love every day, but others might feel like they no longer have control over the activity, turning the passion into more of a chore.
Paying bills, food and other costs
There are some necessary costs in life that you might need to consider when choosing a job for money or passion. This is a critical consideration if you have a family that depends on you. If a job that pays well will help you pay for necessities more efficiently, it may be the better choice.
Making a career change
For some people, passions and hobbies change over time. If you're offered a job that aligns with your current passions, remember that your interests could change. Consider how long you'd like to stay in this job or field and whether it would be possible for you to switch careers if you changed your mind.
Having time to enjoy extra money
If you're considering a job that pays well instead of the one you love, think about how much time you'll have to enjoy the expendable income you might receive. Since high-paid employees often work longer hours, they may not have much time to use the extra money in their paychecks. While most of it might go to savings or retirement funds, remember to think about how much use you'll get from a larger salary.
Having money to enjoy free time
If you want to choose a job for which you're passionate, consider how much money you'll have to do things in your free time. Many people who choose jobs they love instead of high-paying jobs may work fewer hours than their counterparts, so you might have free time to do things you find fun. However, if you are using most of your paycheck on necessities, you might not have much expendable money to use on leisure activities.
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