#1

Does earning a higher salary make us happier? Should we perhaps opt for a dream career that pays less, sometimes barely, but makes us proud of what we do? That is, then, the eternal struggle that has us all in a bind. Whether you're a student choosing a major or a career newbie, the question of moolah versus job satisfaction weighs heavy on your mind. Even seasoned workers get jittery when offered a promotion that comes with a fatter wallet but potentially more stress and overtime. So, is a bigger paycheck really worth it?
Well, it depends. And if the answer would be so simple, a staggering 47% of American millennials (aged 33 to 40) wouldn't have second thoughts over their initial career choice, according to The Harris Poll. As with every generation, bright-eyed people step into the workforce facing different challenges.
#2

For the past couple of generations, the biggest decision-changing factor was student debt. According to various studies, it was found that student debt amplifies the likelihood of graduates opting for well-paid career paths while reducing the likelihood of them pursuing lower-paying "public interest" jobs. That also includes abandoning their dream jobs.
While medical waste disposal doesn't sound like such a bad deal after hearing they make $17.86 an hour, it's worth considering just how much time an average person spends busting their back for bucks.
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#4

According to a 2010 study conducted by Daniel Kahneman, a professor emeritus of psychology at Princeton, beyond a household income of $75,000 a year, money "does nothing for happiness, enjoyment, sadness or stress." Of course, times have changed and so did the worsening conditions of the housing market and economy (which doesn't help to take the pressure off when making life-altering career choices).
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In another global study published in 2018, it has been found that the ultimate income threshold for achieving life satisfaction is $95,000. But when it comes to emotional well-being, the range narrows down to a sweet spot between $60,000 and $75,000. That is, if you're not a resident of North America, where ultimate happiness requires you to earn $105,000 per year.
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“I would prefer that the economy was doing better and people were more adventurous because it often has an enormous effect on the quality of their life,” Nicholas Lore, founder of the Rockport Institute, a career coaching firm, told New York Times in 2010. Considering that work consumes one-third of our lives and half our waking hours, Lore has a point.
#9

In fact, having a meaningful job was ranked 13th out of 29 sources of happiness in an Ipsos Global Advisor survey, overshadowed by things like health, living conditions, hobbies, safety, having meaning in life and friends. Surprise, surprise: more money all came as being more important, too.
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Where, then, does this leave people weighing whether to sacrifice dreams over stable life? In a recent YouGov survey, it was found that adults 25 and younger aren't sure either: 40% reportedly would take a low salary if it came with a fulfilling job while 39% would opt for a high income with a position they hate.
#14

On the other hand, more than half of 16-25-year-olds in the UK fear that their job prospects are in the toilet. As indicated by a study conducted in 2021 at University College London, 53% of young individuals believe that their career prospects are shrinking. Unsurprisingly, this might effectively impact choosing a well-paying, safe job over an exciting career that is shrouded in uncertainty (something like Twitch streaming or becoming a rockstar).
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