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The Pitfalls of Taking a Job Just for the Money

There are countless reasons professionals change jobs. Maybe they are unhappy with their manager, don’t like the commute, are looking for a more positive company culture, are seeking career growth or want to make more money. It’s important with any job to look holistically at the opportunity and make your decision to accept or decline based on the whole package. Things get tricky when the money trumps everything else – when candidates have dollar signs in their eyes and overlook potential pitfalls. Here are three big reasons why taking a job just for the money is usually a bad idea.

Is it the right career move?

Before any move, it’s crucial to think about the opportunity and ask, “Is this good for my career?” There are plenty of jobs that might pay better, but the learning, exposure and overall career advancement could be non-existent. Your excitement over the higher paycheck will dissipate quickly and you’ll be left with the daily reality of a mediocre job that won’t push you toward your career goals. Of course, if the career opportunity is ideal and the money is there too, it might be the perfect next step.

How much will the money affect your life?

Maybe you are considering two job offers. One opportunity is better in all areas except the money; the second opportunity offers around $5,000 more per year. Will the additional income make that job a better choice? The answer is likely no. Unless you are living check to check, or the pay difference is hefty, you may not notice any improvement in your quality of life especially after Uncle Sam takes his piece of your new raise. You may be better off taking the job that pays a little less but offers more of everything else you want and need career-wise, including future earning potential.

What is the company trying to hide?

Some companies offer unusually high pay to compensate for jobs that are undesirable. Unreasonable hours, inconvenient locations, depressing office space, boring projects, negative reputations, high turnover…poorly run companies use money as the bait to get you in the door. Do your homework! Ask good questions, meet with as many people as you can and find out everything about the company and job before you say, “Yes.” A terrible company or terrible job is still terrible, even with a big pay check. 

What is the health of the business and the company? Do they treat people the right way? Is there a path that will make a difference in your career? What is the quality of the person you’ll be working for? These factors should always be considered along with the money if you want to make a career decision that will serve you best in the long term.

Photo Credit: BusinessInsider