{"id":72845,"date":"2024-05-16T00:29:56","date_gmt":"2024-05-16T04:29:56","guid":{"rendered":"https:\/\/world.edu\/?p=72845"},"modified":"2024-09-16T17:14:17","modified_gmt":"2024-09-16T21:14:17","slug":"5-thoughts-for-new-college-grads-seeking-to-find-the-right-balance-between-meaningful-work-and-making-money","status":"publish","type":"post","link":"https:\/\/world.edu\/5-thoughts-for-new-college-grads-seeking-to-find-the-right-balance-between-meaningful-work-and-making-money\/","title":{"rendered":"5 thoughts for new college grads seeking to find the right balance between meaningful work and making money"},"content":{"rendered":"

\"\"<\/p>\n

\\The Class of 2024 had a college experience like no other, starting its first year during peak pandemic and graduating amid protests of the war in Gaza. Many of its graduates will be joining a working world that holds their future in its hands and that was transformed by technological advancements and changing attitudes about work while they were in school. What can they expect from the world of work today?<\/p>\n

As a\u00a0philosopher<\/a>\u00a0and a\u00a0psychologist<\/a>\u00a0who began our careers in management consulting \u2013 and now teach ethics and leadership and\u00a0study why people work<\/a>\u00a0\u2013 we have five thoughts for new college graduates to consider as they head out into the \u201creal world.\u201d<\/p>\n

1. The good news: Overall, people are satisfied at work<\/strong><\/h4>\n

The 2024 report from\u00a0The Conference Board<\/a>, a nonprofit organization that studies workforce and other trends, shows that almost two-thirds of employees report being satisfied with their jobs. Overall satisfaction at work is at\u00a0its highest point<\/a>\u00a0since the survey started in 1987, rising every year since the pandemic, although women report far lower satisfaction than men.<\/p>\n

The factors influencing satisfaction increases have included flexibility and work-life balance, especially among employees who have remained with their employers for more than three years. This suggests that some of the changes in work location and hours implemented by employers during COVID-19 are still valued higher than simply switching gigs for a better deal.<\/p>\n

Employees still want COVID-19-era levels of autonomy, for example prioritizing\u00a0Wednesdays over Fridays<\/a>\u00a0in the office. Facing a\u00a0shortage of workers<\/a>, some employers are seeking to deliver such perks to keep them.<\/p>\n

2. The bad news: Employees are not engaged<\/strong><\/h4>\n

Despite this record-level satisfaction, work engagement is at a\u00a010-year low<\/a>, continuing a downward trend. Employees may be compensating for a pandemic that led many people to work\u00a0more hours<\/a>, with at least half seeking to \u201cquiet quit<\/a>\u201d \u2013 that is, doing the bare minimum required in their job descriptions and leaving\u00a0work at work<\/a>\u00a0at the end of the day. Workers who are not engaged are not necessarily working fewer hours overall, but they may be less willing to bring their work home with them, literally or figuratively, or even to give their best effort during regular working hours.<\/p>\n

Employers, meanwhile \u2013 recognizing that engaged employees generally\u00a0perform better<\/a>\u00a0\u2013 are stuck paying more for satisfied employees who produce less. In a real-life game of \u201cWould You Rather\u2026?\u201d workers should consider how they would prefer to spend the largest portion of their waking hours: being satisfied or engaged?<\/p>\n

3. Seeking work with a purpose is a noble and understandable goal<\/strong><\/h4>\n

Today\u2019s graduates are famously considered\u00a0part of<\/a>\u00a0the \u201cPurpose Generation<\/a>,\u201d committed to solving the problems that prior generations have created.<\/p>\n

Studies show that workers just entering the labor market\u00a0care a lot about<\/a>\u00a0making a difference<\/a>\u00a0through their work. We have studied what it means when people view their\u00a0work as a calling<\/a>\u00a0or have a sense that work is meaningful, all-consuming and may make the world a better place. Those with a\u00a0strong calling<\/a>\u00a0will be more engaged and satisfied with their work and will be happier in their lives as well.<\/p>\n

Workers should think about what problem they most want to solve, are best qualified to solve, and that they might be able to get paid to solve. There is a lot of talk about\u00a0a future world without work<\/a>, but the world today needs workers who are committed to a better future.<\/p>\n

4. It is also understandable to care about money<\/strong><\/h4>\n

As much as new entrants to the labor market care about meaningful work and life, data shows that they care even more about\u00a0high pay<\/a>\u00a0and\u00a0financial security<\/a>. Material rewards have\u00a0increased in importance<\/a>\u00a0over time,\u00a0compared with<\/a>\u00a0the priorities of\u00a0prior generations<\/a>.<\/p>\n

With the state of the world that graduates are entering, including\u00a0soaring home prices<\/a>,\u00a0student debt<\/a>\u00a0and the\u00a0threat of inflation<\/a>, it is not only materially unsurprising but also morally justifiable that many workers are seeking financial stability. Although seeking money at the expense of other goals can take a toll on workers\u2019 well-being, workers need to be cautious of employers who may attempt to exploit their passion for their work by\u00a0paying less<\/a>\u00a0for\u00a0more effort<\/a>.<\/p>\n

5. It is rare, but not impossible, to find meaningful work that pays<\/strong><\/h4>\n

Although COVID led society to recognize the importance of \u201cessential work,\u201d such as health care and critical infrastructure, work that arguably does the\u00a0most good in society<\/a>, such as social service and education, is often paid the least.<\/p>\n

Few graduates will find the perfect combination of meaning and money in the same job right out of college, but that does not mean that they cannot aspire to find both over the course of their careers \u2013 and, when they are in a position to do so someday, to pay their own employees what they are worth. As for the present, if new workforce entrants feel as though they must\u00a0accept a lower than desired salary<\/a>\u00a0to do work that benefits society, it cannot hurt\u00a0for them to ask<\/a>\u00a0for what they think they deserve.<\/p>\n

Even meaningful work can lose its luster when workers feel underappreciated. At its best, however, work can make a meaningful contribution to the lives of workers and a world in need of repair.<\/p>\n

\"\"<\/p>\n

Author Bios:<\/strong> Christopher Wong Michaelson is Professor of Ethics and Business Law at the University of St. Thomas and Jennifer Tosti-Kharas is Professor of Management at Babson College<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

\\The Class of 2024 had a college experience like no other, starting its first year during peak pandemic and graduating amid protests of the war in Gaza. Many of its graduates will be joining a working world that holds their future in its hands and that was transformed by technological advancements and changing attitudes about […]\n… learn more→<\/a><\/p>","protected":false},"author":33,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[58],"tags":[434945],"coauthors":[11733],"class_list":["post-72845","post","type-post","status-publish","format-standard","hentry","category-jobs-volunteering","tag-graduating"],"acf":[],"yoast_head":"\n5 thoughts for new college grads seeking to find the right balance between meaningful work and making money - World leading higher education information and services<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/world.edu\/5-thoughts-for-new-college-grads-seeking-to-find-the-right-balance-between-meaningful-work-and-making-money\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_US\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"5 thoughts for new college grads seeking to find the right balance between meaningful work and making money - World leading higher education information and services\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"The Class of 2024 had a college experience like no other, starting its first year during peak pandemic and graduating amid protests of the war in Gaza. 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