October 7, 2010, 6:00 am

Working For Money or For Passion?

by: MD    Category: Career
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Why do you work?

Why do you work at your current job? Do you love the job? Do you love the money?

A good friend of mine just starting working at an accounting firm. I asked him how his new job is. He responded, “I hate the work, but love the money.” He went on to explain to me that he wants to have lots of money and he really doesn’t care about how boring his job is or how many hours he has to put in. It’s none of my business what someone decides to do. With that being said, I really don’t understand the concept of working a job you hate just to make money, especially at the age of 23.

I can’t sell you some dream by suggesting that you “follow your passions” nor can I judge anyone for making lots of money with a vocation they’re not too crazy about. I can however give you a few points to consider as you decide whether you want to work for profit or passion…

Your lifestyle.

What type of lifestyle do you have now? Is this the lifestyle you want to maintain or do you want to make changes? I personally want the flexibility to travel a few times a year and maintain a physically active lifestyle. My friend has already started to gain weight due to poor eating habits and lack of exercise. We all want to live different lifestyles. The deciding factor for you should be if the field you want to get into allows you live your dream (but realistic) lifestyle.

Your financial goals.

How badly do you want to make lots of money? There are those that want to earn and save as much money as possible now so that they can retire at age 40. Some people just want to make enough money to be happy and spend lots of time with their family and friends. Some other financial goals could include: living a comfortable lifestyle, owning lots of toys, paying off debt, saving for your kid’s college education, etc. Either way your financial goals should be considered as you graduate from college and consider various work opportunities in your twenties.

Your level of debt.

How much debt do you have? How aggressively do you want to pay off this debt? This is usually the deciding factor in your work after college. Some college grads drowning in massive amounts of debt just want to find any type of work so that they can start to pay off their student debt. This usually leads to a viscous cycle where you find yourself working a job you hate just to pay off your debt. This si why Your debt will definitely play a role in your type of work.  You’re likely going to want to go where the money is so that you can have more money to put towards your debt.

A mix of both money and passion.

Can you mix in passion and profit together? I really think so. As long as there is a clear market for what you want to do. You could also decide to pursue a field you’re passionate about in your spare time while you work at your current job. You could create a digital product, design blogs, or become a freelance writer. These are just a few options.

Where do you stand? Do you want to work for profit or for passion? Perhaps both?

(photo credit: totalaldo)

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Comments

I love what I’m doing at my job, but I won’t do my job for free. For me, I would say both, I work for money and for passion! I’m getting paid to learn everyday and I have lots of challenges!!

I notice that some of my friends are unsatisfied with their job right now. It’s either because they are not getting paid enough or they do not receive enough recognition.

If you are really happy with your job, does that mean that the money reward is good enough? Nope, but if you are making lots of money, does that mean that you love your job? No. I still think that the key for success is to fit the right people in the right jobs. That’s for me the fine balance between profit and passion.

Is that your desk, Mike?

I prefer both, myself. Unless I could get an incredible sum of money, I believe that some passion has to be there, and at the same time, without passion… how good and motivated can you really be at your job?

I like to think I am working for both right now. I actually really like what I do (I am back office legal support for a work envivornment similar to yours). At the same time Money is necessary.

That being said would I leave for a horrible job? If they paid me 2 or 3 times what I am making now…YUP

I love my job and the pay is great for a 20 year old. I’m hoping as time goes on and my goals continue to change, I can increase that pay and stay in the field.

by: The Financial Blogger | October 7th, 2010 (6:00 pm)

@Invest it Wisely,
I wish it was!
I am actually very motivated at both my day job and blogging. I guess it’s because I LOVE finance 😉

I work for money not passion. My current job is the best one that I got right now and is allowing us to save and invest at a good rate. It has a paid pension and good benefits. So I like the money, but the “job” is not something I would do in my spare time.

[…] TFB considers working for money or for passion. […]

I’m one of the lucky (and perhaps slightly annoying) ones who loves their job. I really do!

But I have had jobs I have hated in the past too and it’s the hardest thing in the world to motivate yourself to put so much energy into a job you hate because you need the money…. and harder still if the money is not that good.

[…] Working For Money or For Passion? (The Financial Blogger) […]

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I like what I am doing but I am not passionate about it. So I could say I work for money not passion. Hoepfully one day I can say differently.

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