How a Higher Paying Job Changes Your Life
Getting that coveted promotion is what mostly everyone aims for in their workplace. You put in tons of effort to do your best and hope you get noticed, and you expect to get something in return. The promotion or move to a better, higher-paying job is one of those life goals that seems to be at the top of the list for people looking to challenge themselves and help make a better life. Money isn’t everything, but it sure does provide more opportunity and a better path to freedom. What many people don’t know is that a higher-paying job changes their life in numerous ways.
The most obvious thing is that you will be getting paid more, but more money can be a burden for people who are already struggling to live within their means. Similarly, this also leads to a lot of people not appreciating the value of their money. This isn’t to make a high salary a bad thing; there are still plenty of new things it can introduce into your life that will make your time worth all the effort and dedication you toiled in to get this job. Here are the good and bad ways that a higher paying job can change your life.
More Taxes
Death and taxes, the two things no one can avoid in life. Every time you pay for something at the store, you are taxed, and every time you earn money from a job, you are paying taxes; this is an inevitable part of our lives. A higher paying job could mean more taxes coming your way. The Free 2020 Income Tax Calculator shows you that your income bracket can mean a higher tax bracket, and that equals less take-home pay. Of course, there are times where certain state tax laws may actually benefit you, but the hidden problem with making a lot of money is that the government wants a big piece of that cake too.
Better Networking Opportunities
Higher paying jobs usually require hard work to earn or to know someone in a position to get you there. Networking has always been the smart person’s way to get to the top, and getting a higher paying job doesn’t just equal you knowing people to get there; it could mean more networking potential when you achieve that coveted position. When you become a manager, a supervisor, a VP, a president, or any position that holds some power and some weight, you start to mingle with people in similar positions or higher. This leads to you opening your social horizons, planning dinner parties or dates with people who can help you succeed. These doors to success swing open. You become able to start interacting with a higher career stratum that is higher than you could before, which can benefit even further career aspirations.
More Responsibility
This is a double-edged sword for many people. If you have the work ethic and the go-getter attitude where you want more of a challenge, then surely more responsibility sounds like a positive life-changing aspect of achieving the coveted promotion or career improvement. Those who expected higher pay and a more cushy job would expect some significant blowback when they realize their duties have increased too. Managing a team is an example of where a higher paying job will herd out the weak. Being a leader in these situations is difficult, and it can make your work life hell if you aren’t prepared, while for others, it is an excellent opportunity to finally express their ideas and enact meaningful change in the workplace.
Increased Stress
This is another change in your life that could be bad or good. Not all stress is bad, and there is a strange thought process of the Western philosophy of work for the average person where we equate stress to negativity. Stress can be a powerful tool to motivate and push you beyond your boundaries. We stress muscles at the gym, so the same can apply, with more stress equals a potential greater breakthrough for you. On the other hand, this new job could lead to stress that overwhelms and makes life miserable because of all the problems. More stress can swallow people whole and reduce their will to work effectively. The leading cause of burnout in the workplace is stress, so it makes sense why some people worry about those increased responsibilities.
Different Outlook on Life
Taking a higher paying job affords the opportunities to meet new people, expand your network, have better financial freedom, and be given more duties. This all contributes to your changing outlook on life. Maybe you thought you only wanted a safe job where you made a modest amount of money, but once you get that promotion or take on that new job, you suddenly realize how much fun you can have by purchasing things you actually want to enjoy. You start to see society in a different way when you move up, which can terrify people of the reality of the system or encourage them to see how much further they can push themselves.
Better Benefits
What more benefits could you get besides the ones already listed? In a literal sense, jobs offer benefits for their employees to ease the burden of financial obligations, usually for medical expenses. Things like health insurance, eye care, and dental care are often parts of health benefits that employers will offer salaried employees. Many workplaces will offer some beyond that, offering to pay for laser eye surgery or even giving stock options. Better jobs will offer better benefits as a show of faith in their employees in positions earned.
The prevailing idea of the higher paying job is usually a painfully flat one. There is the goal of making more money without any consideration of the other factors that go into what makes a higher paying job so valued. Some of it can be negative, with increased stress, and some are abstract, like the ability to change your outlook on life, but the point is that a higher paying job is what you make of it, good or bad.