I need more money - should I work more overtime or find a new job? (employees, debt)

[Selena777]

I feel as if I need more money to fulfill my personal goals, pay off student loans and save for retirement, but my earning capacity is limited by my field and qualifications. My job has lots of overtime available, but I strongly dislike the nature of the work. Should I work more hours to receive overtime pay that would inflate my income to an amount that would be considered adequate for a person of my age and education level, or dedicate my efforts to finding a job with a higher hourly rate? I ask because I'm currently volunteering with an organization to gain non-customer service experience, which I would have to sacrifice to work longer days. More overtime would also temporarily eliminate the possibility of formally retraining.

Additionally, I feel as if my time to find a career path is running out, and my current position - as front line staff at a call center - will eventually become my "career." In light of this, should I concentrate on building skills that would be more conducive to a higher hourly rate at my current position/company (becoming bilingual, industry specific certifications and programs), or take the risk of branching out and going into a different field with daily tasks that I may not consistently loathe? I'm at a fork in the road, and I don't like where the path I'm on is leading me, but I'm not a particularly desirable candidate for employment and I feel that I may have to take what I can get. What do I do?

[CSD610]

All of what you mentioned as well as managing your finances better and living within your means.

[Selena777]

I do live within my means, but I'm looking to save a substantial amount of money for the future and pay off student loan debt... I've been told that there's only so much headway to be made in that area at my income level, and I'd be best served to raise it.

[Athair]

I like the idea of having more than 1 job, rather than all eggs in the 1 basket. Not only is it something to fall back on if 1 job ceases to exist (for whatever reason), but it's nice to have variety. I juggled a period last year when I was working 3 jobs (1 FT, 1 PT and 1 casual) while also studying and I didn't feel like I was doing 'that much' because I thoroughly enjoyed most of it. They were all in a similar field, but different aspects of it and different people, which made all the difference. The money was addictive but I don't particularly 'need' to work that intensely and have had a relatively quiet 2013 (e.g. only worked my FT job while studying).

[charlygal]

Do all of the above. Personally, I would only consider getting a second job a short term measure. I just don't believe in working myself to death like that. Instead, I would look for a primary job that covered all of my financial need.

While you are currently employed, get all the training, education, and titles you can get from your current company. Research the salaries of the next job you want and build your qualifications around that. Think long term. This could take a few years to position yourself.

[joe from dayton]

A second job is nice for a change of pace but OT will certainly pay you a lot more for your time than any second job.

[STT Resident]

Originally Posted by Marcl

I like the idea of having more than 1 job, rather than all eggs in the 1 basket. Not only is it something to fall back on if 1 job ceases to exist (for whatever reason), but it's nice to have variety.

Couldn't agree more. What sense does it make to wok overtime at a job you "strongly dislike" and "consistently loathe"? To subject yourself to additional stress for the sake of money is rather daft.

Yes, you probably will make more with the overtime stipend but if you work a second P/T job which you enjoy, the stress of your F/T job will be considerably lessened and you'll be better off both mentally and physically.

[Kees]

Originally Posted by charlygal

While you are currently employed, get all the training, education, and titles you can get from your current company. Research the salaries of the next job you want and build your qualifications around that. Think long term. This could take a few years to position yourself.

Good advice.

I did exactly that in 2011 and 2012... I was slightly underpaid for my job qualifications (CAD drawing & CNC metalworking) but when I accepted it I was coming off a stint on unemployment and didn't have much room to bargain. I worked the job for 2 years because the OT was good. For 2012 I averaged 55 hours or so per week for the entire year... I made over $20k just in overtime.

At the same time my employer paid for 2 different training courses and certifications... I learned a new machine and a new software package.

I changed jobs in Jan 2013 and got a substantial raise to boot... 35%.

I now make in 40 hours what I was making in about 53 previously. I always budget based on 40 hours... all the OT was just gravy and now that gravy from the old job is part of my 40 hours... I have a lot more free time and am still able to bank extra money.

It's nice to be home at 4pm every day.

[Selena777]

There may have been a misunderstanding - I didn't mean a part time job in addition to a full time job (the length of my commute to my current job alone would make scheduling a nightmare) - I meant a new full time job to replace my current one.

[Hedgehog_Mom]

Maybe you should do both...look for another full-time job, but at the same time work as much overtime as you can at your current job. Most of your job search will be done online and working overtime shouldn't make it impossible to search for something else.

I live in a city with a lot of call-centers because there's a low cost of living here, but most of the call center employees I know do not have degrees. Is it the same where you are? If you have a degree and many of your coworkers do not, it seems like you might be more likely to be promoted eventually. Would you still dislike your job if you were a supervisor? If the answer is yes, then you're better off searching for something else.