This week’s blog entry comes to us from guest blogger, Kyle Espinola. In addition to being a student at University of California, Santa Barbara (UCSB), Kyle works for FindtheBest.com, a website that allows consumers to compare their purchasing options in various industries in order to make informed decisions. In this post, he has some advice for choosing potential jobs in cooperation with location.
When I’m not hitting the books or working at FindTheBest, I’m most likely writing a post for the UCSB Career Services blog. I recently wrote a post for our senior class addressing the importance of aligning your career choice with your city selection after graduation. Here are some of the highlights:
Analyze the Job Market: Step one is checking an industry’s job creation to loss ratio. Job markets fluctuate as the needs of society change and industries become saturated. Do your research and make sure to pursue jobs with positive job growth. Here is a future jobs and career forecast tool.
Make Your Major Work for You: Did you know on average surgeons make $30,000 a year more than orthodontists, but are in school for minimum of 4 more years? That is over $750,000 lost to more schooling (and that’s not including the tuition)! This phenomenon isn’t specific to the medical field, so make sure to research multiple career options in your discipline.
City Selection is Crucial: Your salary in a particular job could be more or less depending on the city. Most often the increase is due to cost of living, but not always. You could potentially capture additional income without losing it to taxes, inflated rent, etc. In order to determine the equilibrium, you’ll need to maximize your salary while mitigating your living expenses. Here is a salary by city and job comparison and a cost of living index to help with the calculations.
By accounting for these variables you can set yourself up for a comfortable life. In the end, the true secret to wealth is doing what you love.
Business Development, FindTheBest
Intro Video– Why we do what we do!