Let’s talk about money and the pressures we face as young professionals to secure high paying roles. We’re currently in a global cost of living crisis which has impacted housing, food and employment. Last year leading tech companies such as Meta, Google, Salesforce, Amazon and more, laid off thousands of people due to slow economic growth. This has negatively impacted the job market as many companies slowed down on hiring or implemented a hiring freeze. It’s now an employers market. Budgets are tight, which has made negotiating salaries even more challenging. I had first hand experience with this when I was extensively interviewing. Though I had a certain salary in mind and didn’t want to go below my target, I ended up changing my approach and looked at the complete offer package, instead of focusing on just the salary. For example, a good holiday allowance, pension, company shares and private health schemes were top non-negotiables. My priorities had shifted and money wasn’t the main deciding factor when making my final decision. Getting the balance right was very important to me. I didn’t want to compromise on my lifestyle with a low salary job, but also didn’t want to destroy my mental health for a stressful £100k role.
Job salaries is a popular topic often discussed on social media, and most often the discussions do not reflect reality. A debate on Twitter will have you think that most people are earning six figures (the average salary in the UK is £29,588). I’m not against people discussing salaries online, in fact I think salary discussions can be healthy, and helps people to get a better understanding of market rates. However, it’s important to have a holistic view and not make sweeping statements when discussing this topic. Salaries are all dependent on your role, industry, experience and country you’re based in. Social media shouldn’t distort your views on this. Black Twitter debates where people give the illusion that they earn £100k shouldn’t be your primary source of information.
Having financial freedom is a blessing. As we navigate the corporate world, we should be more kind to ourselves and not set unrealistic expectations. Life is already challenging without adding extra pressures. With time, experience and new opportunities, salaries will naturally increase. We should never settle when it comes to money, but we should also not allow social media to mislead us. Don’t fall for the façade and focus on your journey. Research and network in your industry, so that in your next interview you’re knowledgeable and feel confident to negotiate.
See you in my next post!
