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College still pays off, but the return on investment largely depends on your choice of major. College graduates earn 37% more than those with only a high school diploma, according to a new report by Payscale. But as the cost of a degree rises, it is increasingly important to consider both your area of concentration and future earnings potential before taking out student loans to pay for college, most experts say. Often, a good rule of thumb is not to borrow more than you expect to earn as a starting salary. To that end, Payscale ranked which majors are the most financially rewarding, after accounting for salaries at the entry level and median income years down the road.
Persons: Amy Stewart, Payscale's Organizations: College, Payscale, Finance
Having imposter syndrome isn't fun — but it can be the key to unlocking your potential, according to Barbara Corcoran. In a recent TikTok video, the 74-year-old real estate millionaire said professionals should be grateful to have such self-doubt. "If you're struggling with imposter syndrome, good for you," she said. When you make it a habit to try harder than your peers, you'll inadvertently build self-assurance, Corcoran said. Corcoran, a co-star on ABC's "Shark Tank," even looks for imposter syndrome among the show's contestants — so she can prioritize investing in their companies.
Persons: Barbara Corcoran, you'll, Corcoran, I've Organizations: General Internal Medicine
Getty ImagesHighest-paying majors are mostly STEMPayscale's recent college salary report found that petroleum engineering is currently the highest-paying major overall. After petroleum engineering, operations research and industrial engineering majors are the next highest paid, followed by interaction design, applied economics and management, and building science. The growth in STEM jobs is expected to outpace that of non-STEM jobs in the coming years, Pew also found. 'You don't always need a degree'However, in some STEM-related fields, "you don't always need a degree," according to John Mullinix, chief growth officer at Ladders. A growing number of companies, including many in tech, are dropping degree requirements for middle-skill and even higher-skill roles.
Persons: Marc Cenedella, Greenberg, Eric Greenberg, Pew, John Mullinix Organizations: U.S . Census, Greenberg Educational, College Board, Pew Research
watch nowAfter petroleum engineering, operations research and industrial engineering majors are the next highest-paying majors, followed by interaction design, applied economics and management and building science. "STEM degrees dominate the rankings for highest-paying majors and STEM careers continue to offer highly competitive salaries in the job market," said Payscale's Gruver. Payscale's college salary report is based on alumni salary data from nearly 3.5 million respondents nationwide. But it is important to consider your area of study before taking out student loans to pay for college, he added. At the very least, that "forces the conversation of what is going to be the real return on my academic investment."
Persons: Payscale's, Robert Franek, shouldn't, Franek Organizations: The Princeton
Between his own business success and his investments in hundreds of startups, Mark Cuban knows what it takes to be highly successful. There's one trait you should cultivate above all others if you want to be successful too, he says. "The one thing in life you can control is your effort," Cuban, 64, recently said in a LinkedIn video post published by entrepreneur and VC investor Randall Kaplan. And 29% of company executives worldwide think employees who don't go the extra mile won't be successful and risk being fired, Payscale's 2023 Compensation Best Practices Report found. DON'T MISS: Want to be smarter and more successful with your money, work & life?
Persons: Mark Cuban, Randall Kaplan, aren't, Cuban, doesn't, Lexi Clarke, It's, it's, that's, Warren Buffett Organizations: Entrepreneurs, CNBC Locations: U.S, Cuban
Setting long-term financial goals becomes easier for women as pay transparency increases. On average, Payscale's Gender Pay Gap Report shows that women are paid 83 cents for every dollar that men make, a gap that becomes even wider for women of color. Because this information hasn't been widely accessible in the past, a lot of women might not even know they are getting paid less. A woman's pay gap often compounds over the years, starting with the salary she takes for her first job. For most people working at a company, they have no idea how much the people around them are getting paid to do the same job.
'Quiet' is the workplace word of 2023
  + stars: | 2023-02-25 | by ( Madison Hoff | ) www.businessinsider.com   time to read: +9 min
Bare Minimum Monday, another workplace buzzword of 2023, also relates to quiet quitting. Experts think those "quiet" trends and more are set to continue throughout 2023 and beyond. "Quiet hiring" is one of the "biggest workplace buzzwords" of 2023 per Insider's reporting. Emily Rose McRae of Gartner's HR Practice said per reporting from GMA that quiet hiring is a workplace trend in 2023 in part because of a shortage in talent. Other buzzwords of the year from Insider's reporting relate to quiet quitting even if they don't use the word quiet.
A souring economic picture is driving fewer people to quit, but they may end up quiet quitting instead. (Payscale did not ask about quitting rates prior to Covid.) Most employers think pay is the biggest reason causing people to quit, especially in an inflationary environment, followed by limited opportunities to advance, according to the Payscale report. A majority, 56%, say they're planning raises of at least 3% this year, up from 53% last year and 36% in 2021, according to Payscale. And those planned raises will do little to stand up against inflation, which sits at 6.4% as of January.
As people set resolutions for 2023, there's one goal at the top of many lists: quitting an unfulfilling job. That's according to a new report from human resource consulting firm Robert Half, which surveyed 2,500 professionals between October and November 2022. Gen Zers, working parents and employees who have been with their company for less than five years are the most likely to switch jobs in early 2023, the report found. People in customer service, human resources and technology roles are most likely to resign soon, according to a new report from Payscale. Here are the top 10 jobs people appear most likely to quit in the near future, per Payscale's research:
2022 was a year of high quit rates, not to mention "quiet quitting" and "acting your wage." A new report from Payscale shows the 20 jobs people seem most likely to leave now or in the near future. High quit rates persisted from the Great Resignation that began last year, and quiet quitting and acting your wage piled on. But the quitting wave isn't over yet for these workers: An end-of-year jobs report from salary comparison site Payscale identified 20 jobs people are most likely to quit. Workers who remain in these positions (for now) are dissatisfied, and are likely to be 'quiet quitting.'"
With soaring inflation, a floundering stock market and layoffs hitting several industries, the future of the job market is uncertain at best. "The worst is yet to come," the International Monetary Fund warned in its latest report, adding that for many people, 2023 "will feel like a recession." Still, there are reasons to be cautiously optimistic about the job market heading into 2023. While no job is completely immune to economic headwinds, certain roles are posed to fare better than others during a potential economic downturn in 2023, according to a new report from Payscale. Here are 10 of the most "recession-proof" occupations that offer strong job security during economic downturns, per Payscale's research:
Imagining possibilities is a big part of planning; I want LGBTQ women to be able to imagine success. LGBTQ women rarely see themselves reflected in the wealthiest groupsData on both LGBTQ people and women of all orientations evidences economic precarity for many people within these lived experiences. Transgender women have an even higher likelihood of experiencing life on a low income. McKinsey reported last year that cisgender people took home 32% higher wages for the same work transgender people did. LGBTQ women and others tend to resource stability and community outside social norms.
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