Choosing the right career to get out of debt

When making a career decision, there are a number of factors to consider. One of those factors is how satisfied you think you’ll be in your new job. Of course you want to be happy in your job. Of course you want to do work day in and day out that makes you feel like you are making a difference in the world.

However, another consideration is financial. Of course it is, when you make a decision that will affect him financially for many years, if not the rest of his life, obviously one of the main considerations will be financial. After all, you are talking about establishing your primary source of income for the near, if not foreseeable, future.

One thing that many new college grads leave their college experience with, in addition to hope and excitement for their bright future, is a crippling amount of debt. In many cases, you can be well into the six figures. When you start talking about people who, after a bachelor’s degree, went on to higher levels of degrees, like master’s degrees, law degrees, or medical degrees, then you may be talking about numbers that are even much higher. Scary enough, these college loan debts start paying off a mom six months after graduation.

Particularly in a tough economy, this can be an excruciatingly short amount of time to find a job, settle into that job, find housing, and generally settle down. Then, within that incredibly short window, a person is expected to start paying off student loans that are sometimes in excess of $500 per month.

So the question of whether or not to consider getting out of debt as a factor in choosing a job is actually ridiculous. Of course it is a consideration.

This is not such a difficult problem if you have earned a degree or graduate degree that naturally lends itself to a profession, such as a law degree or medical degree. However, if that’s not the case, then you’ll want to consider your job options in part because of how lucrative each career path potentially is.

Particularly lucrative careers will include senior management, so it’s a good idea to enter a management training program with a company that has growth potential, if possible. Any job that is tied to sales or has a built-in measure of money that is naturally tied to the job will have exponential potential for performance-linked bonuses. If you think a role like this is something you could excel at, it’s definitely something to consider. Many managers of large sales groups earn much more in performance bonuses each year than in regular salaries.