Choosing A Career

A psychiatrist is a doctor who treats mental disorders. They conduct therapy sessions where patients discuss their problems. Then they use their knowledge to diagnose and treat patients using continued therapy or medication. It takes about 12 years to become a psychiatrist—four years of undergraduate study, four years of graduate medical school and four years of residency. That’s a long time, but psychiatrists also make more money than many people after they finish school—about $186,000 a year. Don’t get psychiatrists confused with therapists, though. Therapists are not medical doctors, and while they do therapy, they can’t prescribe medication. They also work in a variety of places: private offices, hospitals, schools or community centers. And while their average earning potential ($50K) is lower than a psychiatrist’s, they also spend less time in school.

Why does it take so long to become a psychiatrist or similar highly-skilled professional?

• • because the salary is so high

• • these careers are very competitive

• • they need to go to graduate school and acquire practical training

• • school is expensive, so the people need to work part-time to afford it

When we talk about earning potential, we’re talking about the amount of money you can make working a job. For example, most baristas make about $9 an hour. With a 40-hour work week, that’s $18,720 a year (before taxes). The earning potential of a barista is much less than the earning potential of a psychiatrist. (Remember, they make about $186,000 a year.) But to make that higher salary, you’ll have to spend way more money and time in college than you would to be barista, which doesn’t require a college education. Of course there are exceptions: Beyonce didn’t go to school for 12 years, and she’s worth $450 million! But for most people, if you put in the money and time, your earning potential will show it.

Which of the following careers has the highest earning potential?

• 
  high school teacher, which has an average annual salary of $60,000

• electrical engineer, which has an average annual salary of $70,000

• clothing store manager, which has an average annual salary of $45,000

• Sergeant in the Army, which has an average annual salary of $29,000

When choosing a career, you have to consider what you’re giving up to get there (time, money) and what you’re getting in return. The fancy name for this is “return on investment” or “ROI.” The “investment” is what you put in, the “return” is what you get out. Take a barista, for instance. You virtually pay nothing in education and time so your investment is low. But you won’t earn much money either. To become a psychiatrist, you have to pay a lot in both tuition and time, but you will earn much more money than a barista. You will have learned valuable skills and you’ll also have many more career options open to you. The ROI for becoming a psychiatrist is high. Some jobs require high investments of time and money and some don’t. Some have high returns in the form of money and options, and some don’t.

Why is the ROI for becoming a psychiatrist high?

• because they earn high salaries and have lots of options

• because it takes 12 years to become one

• because college and graduate school are expensive

• because the investment you put into becoming one is low

But maybe you don’t want to be a barista or a psychiatrist. Maybe you don’t have any idea what you want to do. That’s okay. You’re still figuring it out. You’re at a stage in your life where you’re still learning things about yourself, like what you’re good at, what you enjoy doing and what you care about. There are a LOT of career options out there and right now is a great time to explore, try new things and maybe even surprise yourself. The more exploring you do now, the better idea you’ll have for what you want to do later. The website My Next Move offers guidance in choosing a career with a search tool, careers listed by industry and an interactive career test.

Why is it OK if you don’t know what career you want yet?

• You can always change careers or go back to school if you don't like the career you have chosen

• 
  You can decide what you want to do after going to college.

• It isn’t okay if you don’t know what career you want.

• You have time to learn about yourself and what you enjoy doing.

One lesson a lot of adults learn the hard way is that money isn’t everything. Doing something you love for a living is just as important. Baristas don’t make a lot of money, but if you love meeting new people, enjoy a fast-paced environment and don’t want to wear a suit, maybe it’s worth it. Plus, a barista could eventually open their own coffeehouse and make more money as a business owner. A psychiatrist might make $200K per year, but what if the job doesn’t leave them with a whole lot of free time? Or it’s so stressful, it’s hard for them to enjoy the free time they have? High salaries can come with a price. Most people spend about one-third of their waking hours at work, so when thinking about careers, you have to find a balance between making money and doing something that makes you happy.

What is a potential drawback of some high-earning careers?

• you might not like your coworkers

• 
  you might have to wear a suit

• you might not have much free time

• you might not have time to spend the money you earn

If you find yourself interested in a career, it’s a good idea to find people who are already doing it and ask them questions. You should learn everything you can about a potential career, because sometimes a job isn’t what you imagine. For instance, being an actor might seem easy, but working actors will tell you it can involve years of small jobs for little pay before they “make it.” And some never do. Police work might seem exciting, but what you don’t see is the amount of paperwork they have to do. There are pros and cons to every career, so before you choose one, do your homework. Adults love talking about their jobs, and love giving advice to young people, so don’t be afraid to ask questions. Find someone you respect who works at a job you admire, and email them. They’ll probably be eager to help out.

Alvaro wants to become a programmer. What should he do?

• talk to people working as programmers

• spend time teaching himself how to program

• 
  go to school to studying programing

• All of the Above

Most of the time, success doesn’t come easily. You might have to work for low wages (or for free, if you get an internship, where you typically work for free to learn about an industry or career) for a while and work your way up. And some jobs are harder to break into than others—being an actor or a professional athlete is much harder than becoming a psychiatrist because there are relatively few paying jobs in those fields. But if that’s what you want to do, go for it. Just understand your talents, learn what you like and what you don’t, do the research before you commit to a career, and prepare to work really, really hard. For people with jobs that they really like, work might take a lot out of them, but it gives a lot back too.

What is an internship?

• an education program for high school students

• a career that’s very competitive or field that’s hard to break into

• a work and educational opportunity that’s usually unpaid

• something everyone has to complete before getting a job