Terry J

Terry J

Born and raised in Baton Rouge, Louisiana. I graduated from Louisiana State University (LSU) and yes, I bleed Purple and Gold. Love food! I try to...Full Bio

 

Working A Job You’re Overqualified For Could Cost You $10,000 A Year!

According to Time, the concisely-named Strada Institute for the Future of Work and Burning Glass Technologies dug into the data using 4 million résumés to track the career paths of college graduates. The result proved if you’re currently working in a job below your pay grade, the price can add up over the years.

Here are the biggest takeaways according to researcher Michelle Weise:

“We tend to rationalize this experience as a rite of passage in moving towards a career. But underemployment is not at all a short-term problem. Once you start out behind you stay behind.” The trap of underemployment has serious financial implications: Underemployed graduates earn about $10,000 less per year than those in jobs that match their credentials.

The trap of underemployment has serious financial implications: Underemployed graduates earn about $10,000 less per year than those in jobs that match their credentials, according to the study. Over time, that gap can widen even further; if you’re serving drinks at the local bar instead of chipping away at the career you went to school for, you’re not getting the raises, promotions, and networking opportunities that your peers are.

For women, who already make an average 20% less than their male colleagues, the threat of underemployment looms even larger. Nearly half of all female college graduates are underemployed in their first jobs, compared to 37% of male graduates, according to the study. This is significant, Weise says, because it strikes down the notion that motherhood, the so-called “mommy track,” is responsible for the persisting gender pay gap. In reality, “women are set back from the beginning,” she says.


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