Saturday, December 11, 2021

[iFast TV] Should Young Adults Choose Money or Passion?

For the past few weeks, I have been collaborating with iFast TV on this series called My 2 Cents. You can watch the video by following this link

Some readers will be wondering about some details of my collaboration with iFast. I'm happy to share that I actually did everything without financial remuneration as I have the means of monetising these eyeballs through my course offerings. The upside is that there is a stronger degree of control and I get exposure to what media broadcast is like. Naturally, I ended up having a great deal of respect for actors and the logistics required to create even a short video like this. 

A lot of discussions I have of late is about choosing between Money or Passion which is actually a false dichotomy - you can choose both. But the reason why this remains a hot topic is that a lot of young people feel trapped in jobs that they pay and actually switching to job that they love would result in a serious pay cut.

In this video, I made two pertinent points that should be useful to the reader :

a) Understanding Job B matters

As a society we're too obsessed with Job A, a high-paying we take to pay the bills, and advance in society, that we often dislike, and can't wait to get out of. This can be a job as a Legal Senior associate while counting the days to a junior partnership. 

But equally important is the idea of Job B -  a job we enjoy, we can sustain but may not pay as well. 

My rationale is for everyone to know what is their Job B so that they can decide how long they can sustain Job A before they give it up for a better life. This knowledge is valuable because Job B with some passive income can be the equivalent of Job A. 

So my stand is to meditate on what Job B is and how much it pays, I tell lawyers that for them it's generally becoming a GP tutor in a private tuition agency. 

b) Three S's in picking professions. 

If you want to survive this new world where tech obsolesces becomes a way of life, you need to be guided by the three S's. A job has to be Surprising - no SOP can contain instructions on how you do your task because it can be automated. The job should be Scarce, not everyone can do the job. One litmus test is to see whether there is a licensing regime to perform the task or there is a guild to protect the interest of these professional groups. Finally, the job should be Social - a strong element of personal interaction should exist because it is harder to outsource actual human connections.

I will summarise my points in later videos, but I hope you will watch them to find out what my colleagues have to say about the matter as well 

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