Im 27 making 45k a year. I feel like im out of options. Any advice?

I’m 27. I make 45k a year as a medical biller. 45k isn’t much since I live in an expensive area. Graduated with a degree in economics in 2023 and couldn’t find anything. It just feels like the only good paying jobs are tech(competitive) and healthcare but healthcare requires to go back to school again.

I’m kinda lost.

Jobadvisor:

It's understandable to feel lost and frustrated when you're facing financial pressures and career uncertainty. You're not alone, and there are definitely options to explore. Here's a breakdown of advice, considering your specific situation:

1. Re-evaluate Your Current Situation:

• Budgeting and Expense Reduction:
  • Create a detailed budget to understand where your money is going.
  • Identify areas where you can cut back on expenses (e.g., housing, transportation, entertainment).
  • Explore options for roommates or more affordable housing.
• Debt Management:
  • If you have any debt, create a plan to pay it down. Prioritize high-interest debt.
  • Consider debt consolidation or negotiation if necessary.

2. Leverage Your Economics Degree:

• Expand Your Job Search:
  • Don't limit yourself to "economics" titles. Look for roles in finance, analysis, research, and administration.
  • Network with professionals in your field through LinkedIn and industry events.
  • Consider internships or entry-level positions to gain experience.
• Skill Enhancement:
  • Learn in demand skills that complement your economics degree. Some examples would be:
    • Data analysis (SQL, Python, R)
    • Financial modeling (Excel)
    • Business intelligence tools (Tableau, Power BI)
  • Online courses and certifications can be a cost-effective way to gain these skills.
• Explore Related Industries:
  • Consider industries like:
    • Financial services (banks, investment firms)
    • Insurance
    • Government (economic analysis, policy research)
    • Nonprofit organizations (financial management, fundraising)
    • Market research firms.
• Government jobs: Government jobs often have better benefits, and can have decent pay. ¹ Also economics degrees are often used in government positions. ²    
  1. Benefits of working in the public sector - Career Advice - Jobs.ac.uk

  

  career-advice.jobs.ac.uk

  2. Central Banks, Government, and Not-for-Profits - American Economic Association

  

  www.aeaweb.org

3. Healthcare and Alternative Career Paths:

• Healthcare Administration:
  • If you're interested in healthcare, explore administrative roles that don't require clinical training.
  • Consider certifications in healthcare management or medical coding.
• Career Change Considerations:
  • If you're open to a complete career change, research in-demand fields and assess your skills and interests.
  • Consider vocational training or apprenticeships for skilled trades.
  • Look into project management, as the skills are transferable across many fields.
• Evaluate the return on investment of further schooling:
  • If you choose to return to schooling, make sure that the increased pay will out weigh the cost of the schooling.

4. Strategies for Increasing Income:

• Side Hustles:
  • Explore part-time or freelance opportunities to supplement your income.
  • Consider online tutoring, freelance writing, or virtual assistant work.
• Negotiate Your Salary:
  • Research industry salary benchmarks and be prepared to negotiate your salary during job interviews or performance reviews.
• Internal Advancement:
  • Inquire about promotion opportunities within your current company. Also ask about company sponsored training.

5. Mindset and Well-being:

• Stay Positive:
  • It's easy to get discouraged, but maintain a positive attitude and focus on your goals.
• Seek Support:
  • Talk to friends, family, or a career counselor for support and guidance.
• Prioritize Self-Care:
  • Make time for activities that reduce stress and improve your mental well-being.

Key Takeaways:

• Your economics degree provides a solid foundation for various career paths.
• Skill enhancement and networking are crucial for career advancement.
• Consider alternative career paths and side hustles to increase your income.
• Prioritize budgeting and debt management to improve your financial situation.
• Don't be afraid to try new things.

It's a process, and it takes time and effort. Be patient with yourself, and keep exploring your options. You have the potential to achieve your financial and career goals.

I’m pretty desperate and disappointed about my new job.

Last Monday, I started a new job. My gf, who works in a different department, recommended me to the company. However, after just one week, I've realized that the tasks assigned to me don't match what was discussed during the job interview. The work is much less challenging than expected. Additionally, I'll have to take business trips to other cities every few weeks, which will take up several days at a time, and that's not really my thing. Even after a personal conversation with the team lead, I was told that this is exactly what my job will entail. So, I don't see any long-term prospects, which is pretty disappointing. If I had known this, I probably wouldn't have taken the job.

Meanwhile, I've also received an offer from one of my former employers, offering me the same salary. My gf is quite upset, saying that I'm not even giving it a try and jumping to conclusions. She's also worried that she'll be seen in a bad light because of her recommendation. Now, I have no idea what to do.

Jobadvisor:

This is a tough situation, and it's understandable that you're feeling desperate and disappointed. You're caught between a job that doesn't align with your expectations and the potential fallout with your girlfriend. Here's a breakdown of how to approach this, considering both your professional and personal concerns:

1. Analyze the Situation Objectively:

• Document the Discrepancies: Write down specific examples of how the actual job differs from what was discussed during the interview. This will be helpful if you decide to discuss it further with HR or management.
• Evaluate the Business Trips: Consider the frequency and duration of the trips. Are they truly incompatible with your lifestyle, or is there a possibility of adaptation?
• Assess the Long-Term Prospects: You mentioned a lack of long-term prospects. Try to pinpoint the specific reasons. Is it the lack of challenge, the travel, or something else?
• Former Employer Offer: Carefully consider the offer from your former employer. What are the pros and cons compared to your current situation?

2. Communication and Conflict Resolution:

• Clarify with HR (if necessary): If you feel there's a significant misrepresentation of the job, consider talking to HR. Approach the conversation professionally and focus on the discrepancies between the interview and the actual job.
• Open and Honest Communication with Your Girlfriend:
  • Acknowledge her feelings and concerns. Let her know you understand she's worried about her reputation.
  • Explain your reasons for wanting to leave the job calmly and clearly. Focus on your own needs and career goals.
  • Avoid blaming her for the situation. It's important to maintain a supportive and understanding environment.
  • Assure her that your decision is not a reflection on her, but rather on the job itself.
  • Try to come to an agreement on how to best explain the situation to any coworkers that ask.
• Consider Mediation (if necessary): If communication becomes difficult, consider involving a neutral third party to help facilitate the conversation.

3. Decision-Making:

• Weigh the Pros and Cons: Create a list of the pros and cons of both jobs. Consider factors like job satisfaction, career growth, work-life balance, and salary.
• Trust Your Gut: Ultimately, the decision is yours. Choose the path that aligns with your values and long-term goals.
• Consider a Trial Period: If possible, ask your former employer if you can work on a trial basis to ensure it's a good fit. This could also give you some time to smooth things over with your girlfriend.
• Give it a little more time: While a week is a good indicator, sometimes it takes a couple of weeks to settle into a new role. Is there any possibility that the work load will change?

4. Addressing Your Girlfriend's Concerns:

• Emphasize Your Professionalism: Reassure her that you will handle the situation professionally and avoid any actions that could reflect poorly on her.
• Offer Solutions: Brainstorm ways to mitigate any potential negative consequences for her. For example, you could offer to explain the situation to your former colleagues in a way that minimizes any potential damage to her reputation.
• Support Her: Show her that you value her opinion and that you're committed to maintaining a healthy relationship.

Key Considerations:

• Your well-being is important: Don't stay in a job that makes you miserable.
• Your career is yours: While your girlfriend's feelings are important, you must make the correct career choice for yourself.
• Honesty and respect are crucial: Communicate openly and respectfully with both your employer and your girlfriend.

It's important to remember that you're not alone in this. Many people experience job mismatches. By approaching the situation calmly and strategically, you can find a solution that works for you.

How can my fiance make more money?

My partner (29m, Upstate NY) is a brilliant, hard worker with an amazing work ethic. He always pushes to be the best he can at every single thing he does. He wanted a career that would be stimulating for his interests, and able to provide us with a comfortable life. So, he chose electrical engineering. He's been pursuing this under an apprenticeship while also attending college. We knew he was going to take a pay cut but I did not anticipate seeing him suffer so much. Some weeks he's unable to buy food for himself & is often very stressed about making bills without my help. I have no problem filling in the gaps, but he's a prideful man and cares about me so he feels some level of guilt there as I also work, and am responsible for the house. He often takes on side jobs on the weekend which just leaves him even more unrested and mentally cooked. He's strong and he'll finsh this thing to the end, but lord knows the tears I've cried hearing him sound so hopeless about not having a moment to be himself or enjoy anything. Is there any way for him to achieve his goal without taking such a harsh pay cut under his apprenticeship? Or perhaps a side gig that could fill in these gaps that have him so stressed? Any input is so appreciated and thank you strangers even if this doesn't reach any eyes.

Jobadvisor:

It's understandable that you're concerned about your fiance's financial struggles during his apprenticeship. It's a tough situation, but there are potential avenues to explore to alleviate the financial burden. Here's a breakdown of strategies, considering his electrical engineering focus:

1. Maximizing Apprenticeship Income:

• Negotiate Pay Increases:
  • As he progresses through his apprenticeship and acquires more skills, he should proactively negotiate pay increases. Documenting his achievements and demonstrating his value to the company is crucial.
  • Researching average apprenticeship wages in his area for electrical engineers can provide leverage during negotiations.
• Explore Company Benefits:
  • Investigate if the company offers any benefits beyond the base pay, such as:
    • Tuition reimbursement for his college courses.
    • Health insurance.
    • Retirement contributions.
    • Tool allowances.
• Seek Out Higher-Paying Apprenticeships:
  • If possible, researching and potentially transferring to a company that offers a higher apprenticeship wage could significantly improve his financial situation.
  • Union apprenticeships often have better pay and benefits.   

2. Supplementing Income with Side Gigs:

• Tutoring/Teaching:
  • His electrical engineering knowledge could be valuable for tutoring college students or even high school students in math and physics. This can be done online or in person, offering flexibility.
• Freelance Electrical Work (with caution):
  • Depending on his level of expertise and licensing requirements, he might be able to take on small freelance electrical jobs. However, he must ensure he's operating within legal and safety boundaries, and that his apprenticeship does not have any clauses that prevent this. Also, he needs to make absolutely sure he is insured.
• Online Courses/Content Creation:
  • If he has a knack for explaining complex concepts, he could create online courses or educational content related to electrical engineering. Platforms like YouTube, Udemy, or Skillshare can provide avenues for this.
• Repair/Maintenance Services:
  • Offering repair services for electrical appliances, or general house maintenance can be a good source of income. This would rely on his current skill level.
• Part-time work in related fields:
  • Working part time in an electronics store, or a hardware store could provide extra income, and also keep him in a related field.

3. Optimizing Finances:

• Budgeting and Expense Tracking:
  • Creating a detailed budget and tracking expenses can help identify areas where he can cut back. Apps like Mint or YNAB can be useful tools.
• Utilizing Student Discounts and Resources:
  • As a college student, he should take advantage of student discounts on various products and services.
  • College resources, such as food banks or financial aid offices, may offer assistance.
• Reduce Transportation Costs:
  • If possible, carpooling, public transport, or biking could reduce transportation expenses.  

4. Long-Term Strategies:

• Accelerated College Completion:
  • If possible, accelerating his college coursework could allow him to complete his degree sooner and enter the workforce with a higher salary.
• Networking:
  • Building connections within the electrical engineering industry can open doors to better job opportunities in the future.
• Professional Certifications:
  • Pursuing professional certifications, such as a Professional Engineer (PE) license, can significantly increase his earning potential.   

Important Considerations:

• Mental Health: His mental well-being is paramount. Ensure he's taking breaks and engaging in activities he enjoys to prevent burnout.
• Communication: Open and honest communication between you and your fiance is essential. Discuss financial concerns and work together to find solutions.
• Apprenticeship Regulations: Make sure any side work he takes on does not conflict with the terms of his apprenticeship agreement.

It is very important that he makes sure that any side work he performs is done within the legal regulations of his state, and that he is insured for any work that he does.