“How's it going?” is a phrase a lot of us probably hear and say at least 10 times a day. I remember greeting my banking colleagues with this line every Monday morning. Unsurprisingly, I didn't get a response most of the time: we all knew how it was going (read: not well), and besides, I had seen most of these people on Sunday working in the office, so I knew damn well how they were doing. Occasionally, someone would reply by saying, “Livin' the dream,” but what they really meant was, “I'm living a baaad dream,” or “I wish I got enough sleep to have dreams.” A bunch of us would laugh in agreement, and then we'd go off to start our work.

During those years, I knew my situation was far from ideal – but beyond the long hours and lack of sleep, I had trouble pinpointing why. In a lot of ways, my role checked many of the boxes I had set for myself. I now realize that I had overlooked certain aspects of job satisfaction while overemphasizing others.

It turns out, job satisfaction can and should be evaluated on a number of levels. Whether you feel great, terrible, or blah about your job, it's helpful to figure out why you feel that way. And that's exactly what you'll be doing in this chapter.

Here's the plan. I'll walk you through five aspects of your job and provide questions for you to review in each area. You can use Table 3.1 at the end of the chapter to capture your responses (also available at www.workyourmoneybook.com) or simply make mental notes – whatever works best for you. If you'd like some sort of scoring system, think about whether each job area is 1) good, 2) okay, or 3) not so good. But know that not every area needs to be “good” across the board for you to be satisfied with your job. And the job areas you find most important today may change as you move through different phases of your life.

By the end of the chapter, you'll have a better sense not only of how it is going with your job, but also why it is going that way.

Job Factor 1: Are You Getting Value?

Translation: Do you like what you do on a day-to-day basis?

Have you ever met someone who claimed they figured out what they wanted to do for a living when they were very young (i.e., age 10 or younger)? You know, the person who says the one share of stock their parents bought for them was what got them interested in the stock market, and ever since then, they've wanted to work in mergers and acquisitions. I used to hear these stories and think, “Man, if only my parents bought me a share of stock when I was 10,” or “Too bad I can't get paid for being good at Super Mario Kart.” Now I think, “What the heck does a share of stock even have to do with mergers and acquisitions?!”

The reality is, many of us just fall into our first job after college. Our careers might be based on the companies that happened to recruit at our school, the one company that gave us an offer, or where we wanted to live. So the first job factor – the industry you work in and your day-to-day responsibilities – may or may not be exactly what you dreamt of, and that's okay.

Use the following questions to evaluate whether your industry and day-to-day job responsibilities align with your interests and skills.

Industry:

• Are you interested in the subject matter that your industry focuses on?
• Do you find yourself reading about developments in the industry in your free time, or could you care less?
• When your friends and family ask you about your job at social gatherings, are you excited to talk about what you do or do you quickly transition to a different topic?

Day-to-Day Responsibilities:

• Regardless of whether or not you're interested in your industry, does what you do on a day-to-day basis align well with your skills and interests?
• Do you find your work interesting, or are you assigned to work that no one else wants to do?
• Do you feel like you're learning something from your job and are challenged?
• Do you look forward to working with your clients?

Job Factor 2: Are You Adding Value?

Translation: Do you feel you're able to make an impact in your job?

All of us want to feel like we're adding value through our work. But alas, we're often blinded to the many ways in which we're making a positive difference in our jobs – an oversight that might cause us unnecessary dissatisfaction.

Dr. Amy Wrzesniewski of Yale University and Dr. Jane Dutton of the University of Michigan conducted a 2001 study on hospital janitors that highlights how our perception of our jobs can influence how we feel overall.¹ Some participants in the study said they viewed their job function as being limited to cleaning up after other people, and not surprisingly, this cohort seldom strayed from their predefined responsibilities. Others who worked in the same exact role described their job function as helping to create a positive experience for both patients and the organization itself. This group also saw their roles as more fluid and often took on additional responsibilities, interacted with other hospital staff and patients more, and generally viewed their jobs more positively. Same job, but two totally different perspectives. As the saying goes, sometimes perception is reality.

The truth is, you don't need to be the CEO of a company, saving lives, or ending world hunger to feel like you're making an impact in your job. You can benefit your organization simply by following through on assignments, keeping your manager on time for meetings, or cheering up your co-workers with entertaining memes. We all add value through our jobs, in one way or another – even if sometimes we have trouble seeing it.

On that note, I encourage you to consider the real and perceived impact you may be having at work by asking yourself the following questions:

• Do you feel what you do makes a difference in your team, organization, or industry? Have others, including your manager, co-workers, or clients acknowledged or recognized the impact you make?
• Do you think your work positively impacts other people outside of your business (e.g., your clients, broader society)?
• Do you find that you have the autonomy and freedom to make decisions at work?
• Do you have a clear understanding of your role, responsibilities, and performance expectations? Do you have clarity on how you could overdeliver in your role or make a bigger impact?
• Do you anticipate that your impact at work may grow in the near future (e.g., by taking on new projects or earning promotions)?

Job Factor 3: Are You Increasing Your Value in the Market?

Translation: Does your current role expand or decrease your future job options?

In middle school (i.e., grade 6 to 8), I remember you could gain street cred either by wearing the “in” name brand (whether it was Nike Air Jordans, Skidz plaid shorts, Levi's jeans, or anything from Abercrombie & Fitch), or by excelling at something, especially sports (playing piano, like me … not so much).

Believe it or not, the ways you can increase your value in the job market – that is, opening up more options and opportunities for you in the future – aren't far off from these middle school tactics. You may be able to increase your marketability simply by being associated with certain name brands, whether it's paying your dues at Goldman Sachs or getting an MBA from Harvard Business School. You could also increase your market value by taking on a role that helps you build transferable skills and experiences, or by working in a field that is especially in demand (which, at the time of this writing, seems like engineering or anything that touches self-driving cars).

On the other hand, certain jobs can close doors quickly and limit your marketability, especially if you work in them for a long period of time. These may include jobs in declining industries, roles that are in the process of being automated, or job functions that build few transferable skills.

Take a look at your particular situation, and ask yourself the following questions to help determine if your current role opens or closes doors for you:

• Do you work for a prestigious or well-respected organization?
• Are you gaining skills that will make you marketable to a variety of employers and industries? Or does your job have a very narrow focus, meaning that in the future, you may only be able to transfer to a very similar organization or role?
• Think about former co-workers at your organization. What kinds of roles were they able to transition to (internally and/or externally)? Are those the kinds of roles you would be interested in as well?
• Do you envision wanting your boss's job one day? Does the leadership path at the organization inspire you?

Job Factor 4: Does Your Role Align with Your Values?

Translation: Do your office environment, work schedule flexibility, and employee benefits improve your overall quality of life?

Growing up, I'd describe my schedule and quality of life as quite regimented: waking up at 6 a.m.; going to school from 7 a.m. to 3 p.m.; attending soccer, cross country, or track practice until 5 p.m.; eating dinner at 6 p.m.; practicing piano at 7:30 p.m.; and doing homework for the rest of the night. And then repeat. The worst part was that I felt like I had no say in the matter; in fact, I downright hated some of these activities (especially homework). I assumed that the working world operated by the same oppressive and exacting rules as school, but that everything would be worth it someday as long as I was doing well professionally. Boy, was I dead wrong.

I know now that even if many aspects of your job are going well, you may not feel happy if it doesn't enable you to fulfill your interests and align with your priorities. So don't overlook or brush off the quality of life in your job, which includes company culture, work hours, employee benefits, how much you like the people, and office location and environment.

To gauge your quality of life in your job, ask yourself:

• Do you enjoy your physical office environment?
• Do you have a short commute (if that is something you value)?
• Do you like the people you're interfacing with on a day-to-day basis, such as your co-workers, clients, and/or vendors?
• Do you have someone at work you can confide in for personal and professional matters, such as celebrating good days, venting about bad days, and running questions by them that you may be hesitant to ask human resources (sometimes referred to as a work spouse)?
• Does your current job offer employee benefits that improve your quality of life, such as generous time-off policies (e.g., vacation days, sick days, family leave) and flexible work arrangements (e.g., ability to work from home, part-time work)? Are any important benefits missing that you wish you had?
• Does your current job allow you sufficient time to devote to your friends and family (if that's important to you)?
• Does your job allow you to participate freely in activities that interest you? For example, some companies limit employees' participation in any outside business activities (even small side hustles), or their ability to share ideas on a website or blog.

Job Factor 5: Do You Feel Valued?

Translation: Do you feel like you are being fairly rewarded through pay, promotions, and work responsibilities?

While people often give money and titles more weight than they should when evaluating their job satisfaction, these points are still important to consider. All of us want to feel like we're being properly acknowledged for our hard work both in financial and nonfinancial ways, not to mention that most people need some amount of income to be able to cover their living expenses and fund their financial goals.

Financial compensation includes your base salary, bonus, and stock payments. In some instances, compensation figures are publicly disclosed, like associate salaries at law firms. In other cases, you can often get a directional sense of whether you're being fairly compensated by checking salary-focused websites (e.g., salary.com and payscale.com), job review sites (e.g., glassdoor.com), and job listings for similar positions in your field. Conversations with recruiters could also help you gauge whether you're being paid fairly.

Compensation often goes hand in hand with your job level and promotions. Regardless of your role, you want to make sure that your responsibilities appropriately align with your job title or level. This matters because if you have less responsibility than others at a similar level, you may not be on a growth trajectory in your position. On the other hand, if you have more responsibility than others in your position, you may be being treated unfairly.

Ask yourself whether others in the same role at your or other organizations have similar backgrounds, experience, and responsibilities as you. You will also want to consider your opportunities for growth and advancement by comparing yourself to co-workers who have held similar titles at your organization. In particular, are you earning promotions: 1) at the same pace as others, 2) slower than others, or 3) faster than others? If you believe you are earning promotions slower than others at your level and with a similar performance history, think about what factors could be holding you back. These obstacles may include:

Your Manager

• Does your manager fully support your career development?
• Is your manager well-respected in the organization and progressing in his or her own career?
• Does your manager have the power and political capital to accelerate your career?

Exposure

• Are you being assigned to projects that allow you to gain the support of others in the organization, beyond your manager and immediate team?

Expectations/Feedback

• Do you feel like you have clear goals and expectations, or does your manager continue to move the finish line?
• Do you receive direct feedback from your manager throughout the year so you can improve and reach your career development goals, or do you receive mixed messages?
• If you receive an annual review, does the feedback surprise you or has it typically been communicated to you throughout the year by your manager?

From a nonfinancial perspective, compensation and recognition can be subtler. For example, feeling fairly treated and valued as a team member are signs of appreciation that you might seek at work. Your manager and co-workers could convey these messages by inviting you to important meetings, assigning you to more influential projects, seeking your perspective on work matters, or simply showing a personal interest in you rather than viewing you as just another cog in the machine.

Nonfinancial rewards can also be an important sign of your career trajectory, particularly in organizations with standardized salary amounts. For example, at top law firms (often known as “big law”), associates with the same tenure generally receive uniform base salary and bonus figures. When I asked my friend, who works at a big law firm, about this practice, he explained, “Sure, we all receive the same pay, but partners reward top performers with higher-profile or more interesting projects. Over time, this puts certain associates on track to become partners, while other lower-performing associates may eventually need to leave the firm.”

Other forms of nonfinancial recognition may include invitations to participate in conferences and professional development trainings, as well as opportunities to gain more visibility at your company.

Summarizing Your Current Job Situation

While it would be amazing to find a job in which every job factor was positive across the board, that's probably not a realistic expectation, nor is it necessary for work satisfaction. For example, quality of life may not be as important to you right now because you're in your early 20s and single. Or maybe you're not super excited about the job content, but all the other job factors are good. Many people may also look outside of their careers to fulfill certain needs, rather than relying solely on their day jobs.

Lauren McGoodwin, founder of Career Contessa, says, “When I started thinking about what was important to me in a job, I realized it's sort of like budgeting your money – you're not going to be able to buy everything that you want, just like you're not going to get everything that you want in a job. When I came to that realization, I was able to home in on what was most important to me in a company and a role.”

Use Table 3.1 to create a snapshot of your current job situation (also available at www.workyourmoneybook.com). As a first step, you can jot down the ratings you may have assigned for each factor. Then, you'll prioritize each of the job factors, and finally, consider whether specific barriers stand in the way of improving the various aspects of your job situation.

Now You Know

After completing the exercises and questions in this chapter, you should have a better understanding of what you like and dislike about your current role, as well as the obstacles that may stand in the way of improving your job situation. In Part 3, we'll build on these insights by helping you better understand what your ideal job looks like. You'll then be ready to learn about strategies for how to actually close the gap between the job you have and the job you want.