Twice a week, our CEO and resident money guru Jean Chatzky tackles your burning questions in the HerMoney newsletter. We’ve pulled some of the best to feature on our website — and this one made the cut! Got a question for Jean? Send it her way right here.
Q: This week’s question comes from Lesley. She writes: “What do you do when your dream job doesn’t come with your dream salary?”
A: You take a deep breath. And then you adjust, in one of two ways. The first adjustment you could choose to make is to your lifestyle. Is it worth it to you to make compromises about how much income you have at your disposal and the life you live as a result in order to do work that you love? Get realistic (and tactical) about what this means in terms of where you live, the car you drive (or other ways you might get around), how often you travel, eat in restaurants, how generous you’re able to be with the people and causes you care about, etc. If that path feels tenable, then you pursue it while looking to make sure you’re paid fairly (if not at dream rates) for the work you’ve decided to do.
The second adjustment you could make is to your chosen work. Do you have the skills/resume that would allow you to shop yourself around and earn considerably more by doing something else – something that isn’t the work of your dreams? Play that scenario out as well. How will you feel day to day, after you finish work? Can you get the sort of fulfillment you’re looking for elsewhere – from volunteering, a paid-side hustle, a hobby? Be honest with yourself about both of these scenarios and see if your intuition leads you in one direction or another.
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