Most of us aspire to have a high-earning job. Some of these jobs may require putting money into training and licensing and travel. But just how much money should we be putting into these careers to make them worthwhile? Obviously, it all depends on the personal reward a job brings – some people may be willing to for out thousands if it means achieving the job of their dreams regardless of the pay. However, there are times when some of us may be paying for services that might not be necessary to achieving our dream job. Here are just some of the main ways people invest in a career and what you should be paying for.
Getting an education
Not every job requires you to be educated, although in most cases it can put you at an advantage. Other fields such as medicine and law may be impossible to get into without a degree. University fees can be expensive and most people have to take out a student loan. In most countries, these debts don’t have to be paid off until you’re earning a certain income, but it can still be a big expense. An option to consider is talking to your parents about the possibility of them taking out a Parent PLUS loan to help pay for your college expenses, as this type of loan can later be transferred to you once you are more financially stable.
There are more affordable ways to get higher education qualifications. There are a number of courses that can be studied from home such as an online criminal justice degree – this could save having to travel to a university or relocate and save some people money. A lot of people want to experience living on campus and so may not like this strategy, although it can be good for those studying with other commitments such as children or a job. Some courses are cheaper than others, especially if you look abroad. There’s also the option of sponsored courses in subjects like accountancy – not only are your studies paid for, but you’re guaranteed a job from the sponsor once you graduate. These are great investments if you want to work for such a company and don’t want student debt, although placements are very competitive.
A degree isn’t the only form of education worth paying for to get your dream job. You might be able to get smaller qualifications from taking workshops and training programs, some of which may lead directly onto jobs at the end. The likes of apprenticeships and paid internships may even give you the chance to earn some money.
Getting licensed
Certain careers may require paying for various licenses. These might include licenses to operate certain machinery or drive certain vehicles such as lorries and taxis. There are then certificates such as electrical licenses and pilot’s licenses. These licenses can cost a lot of money, but are often necessary to get into chosen careers. Be aware that there are companies out there that will pay for your training and license – it could be worth applying for these before obtaining a license on your own.
Paying for job search and recruitments services
When hunting for a job, there are various services that you can pay for to help with your search. There are a lot of services in this industry that aren’t worth paying for – job listing sites that require you to sign up and pay are largely a scam given how many of the same jobs can found on free listing sites across the web like Indeed. That said, there are some services that might be advantageous such as hiring someone to write your CV if resume-writing isn’t your forte, or alternatively paying for a session with a career coach if you’re not sure what job suits you. You should never pay more than a few dollars for these services. Many headhunters and recruitment companies only charge companies and don’t charge those looking for a job – if a headhunter contacts you online and tells you they can find you a job if you pay them money, it’s likely to be a scam and is probably best avoided.
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Gaining experience
For some jobs, getting on-the-job experience may be necessary. Volunteer schemes and work shadowing placements are one way to do this – you work for free, which may cost you some money in travel, but it could be worth the end result. Apprenticeships and paid internships may offer paid experience, which can be a much better investment.
You should be wary of paying for experience. Certain modelling agencies may ask you to pay money to give you the experience of being in a shoot, but this should never be an expensive amount. Internships that require you to pay money are generally best avoided.
The cost of commuting
The cost of commuting is important to factor in. There’s no point travelling to a job if half your income is being consumed on train tickets or fuel for your car. Very few companies will compensate you for your commute, although they may pay for travel to work-related events and meetings. You can reduce the cost of commuting in some cases by looking into travel discount schemes such as railyards and bus passes. If you live locally, walking or cycling could be more economical than driving or taking public transport. Many office-based companies are now also letting employees work from home – this could cut out having to commute altogether and save you a lot of money.
The cost of equipment
Certain jobs may require you to supply your own equipment such as a laptop or special clothing such as workboots or an apron. This equipment should never be anything too expensive. Most employers should pay for software and specialist tools and only charge you for replacements if you break something. Of course, if you go self-employed, you’ll have to pay for all your own equipment – fortunately this is all tax deductible.
