If you want to be a millionaire, it’s better to be a software engineer than a pro athlete

Food for thought…”once you’re out in the workforce, the average career span is 40 years with an average annual salary at $125,418. The lifetime earnings potential adds up to $5,016,723, better than both the typical pro NFL player and typical pro MLB athlete.”

See the story from Business Insider here: http://www.businessinsider.com/better-to-be-a-software-engineer-than-a-pro-athlete-2017-1

Can Job Changes Increase Job Security?

A number of years ago I was told of a family friend who had spent his entire career (a successful one, I might add) with one large company only to be laid off just a couple of years before retirement. This gentleman was given no specific reason for the termination. He and his family were left wondering what to do next. He was so “niched” in his previous position that it took him months to get his feet back under him so he could move forward.  Ultimately though, from a career standpoint, he never really did.

Commitment to an employer today is different than it was for our parents and grandparents.  Unfortunately today’s reality is that employees are more committed to an employer than an employer is to an employee.

The thought that considering a job change in order to have job stability seems foreign to many.  But is it today’s reality?  For many, the answer is yes!  Job changes allow people to enhance skills, marketability, networks, and salaries.  Just to name a few.

I recently read an article that was written in 2008.  In association with the article they had conducted a survey in which they found that one in three people employed at the time spent at least one hour per day looking for a new job!  That surprised me.  I have no hard evidence to back this up, but my assumption is that today the numbers would be lower as the job market has stabilized.

Speaking of career changes, American business blogger, Penelope Trunk said “What we think of as stability has to change”.  Statistically most people will change a job every two years!  Ms. Trunk believes that today the core desires of workers are time & relationships, not a home, 401k or a pension.

Here are 4 ways that Penelope Trunk suggests using frequent job changes to create stability in your life:

  1. Build up a strong skill set quickly
  2. Get good at making transitions
  3. Get out of paying your dues
  4. Keep your finances in order

The best financial security today is to have great job hunting skills.

Create a stable life by getting good at changing jobs.  If you are ready for a move…make sure it is a move “up” in one way or another.  Spend time now considering what it will take, and how you will know, when the right opportunity comes to you.  Your future stability may depend on it.