Want a new job? Pay can’t be the reason.
Or at least, pay can't be the ONLY reason to get a new job. Yet, it’s usually the one reason people say they want a new job when they come to me for career coaching. Now, I don't blame them, I understand that pay is a huge factor in picking and keeping a job. But what I've found while coaching many people through job transition is that complaints about pay are rarely the main problem, and many times are an outright scapegoat.
So, before jumping ship for a bigger paycheck, think about these three things:
What job would you be willing to do for less money than you currently make?
Maybe it's something you're passionate about, a hobby you have outside of work, a field you've always been interested in… or even just something easier than your current role.
If you can imagine something you’d be willing to do for less, this tells us that pay is not your main problem, but rather that in your current job you don't get paid enough for THIS. Whatever your "this" is—an overbearing boss, long hours, boring work—you're not getting paid enough to put up with it anymore.
This is so important to understand about yourself because, otherwise, you could end up chasing dollar signs but never finding fulfillment. You may be happy with a new, higher-paying job for a little while, but if you don’t find a job that is fitting for you, you’ll just end up in the same place of dissatisfaction a few years down the road thinking “I don’t get paid enough for this now.”
How much money would your current job have to pay you to convince you to stay?
That number is your "Golden Handcuffs” number—the amount that would seduce you to stay in a job that you don’t like. It might be fun in the short term, but in the long run, money feigns fulfillment without following through. Beware of the Golden Handcuffs!
You might think, “There’s nothing they can pay me to make me put up with THIS!” That’s a great place to be. You see, pay is not the problem, there is something deeper and much more important going on. You may be running into a “values conflict,” when something core to who you are is not being upheld in your place of work. Stumbling over a values conflict in life is like finding a hidden gem—it shows you with more clarity who you are and what you hold dear. For example, you might have a core value of “honesty” and you can’t stand your employer's questionable practices anymore, or maybe you have a value of “freedom” or “family” and the lack of work-life balance is getting in the way of this. Core values must be respected (or, at the very least, not violated) in the workplace for you to be happy with your job long-term.
What jobs would you never want to do, no matter how much they paid?
These could be jobs that don’t interest you, would seem boring or stressful, are against your morals and values, or just don’t provide the work or lifestyle that you prefer (ex. remote vs. in-person, traveling jobs, night shift, etc.) It’s important to keep these qualities in mind before job searching to rule out jobs with these “never” aspects to them.
If none of these questions resonated with you and you’re thinking, “my job is fine, I just need more money,” you still don't necessarily need to change jobs. You could talk to your boss about a raise or a promotion, or explore creating a side hustle or additional income streams. You could even evaluate your budget and see if there are ways to make your current pay work for you. You don’t want to leave a job you enjoy for the pay alone unless you have to.
In the end, finding a job that fits your values and interests is what's really important for fulfillment at work. That sense of fulfillment and enjoyment can make it worth it, even with a similar or a lower salary than what you’re currently making. Ideally, we’d hope for you to find both a better AND a higher-paying job!
Making a job change is a big decision and can be overwhelming to even begin. If you're feeling stuck in the process of making a job change, coaching can help you navigate this process. I can provide you with personalized guidance and support as we work on identifying your values and goals, and help you make tangible steps toward a fulfilling career.
One of my favorite moments in coaching is when someone comes to me saying they just need a higher-paying job, but they leave with a deeper understanding of who they are.
