Graduates: Are long-distance jobs financially worthwhile?

It’s a well-known fact; the majority of graduates in the country are out for anything they can get when it comes to that elusive first job. Sure, if you graduate from one of the big colleges the opportunities are likely to be far and wide, but the economic position of the country hardly lends itself to the masses.

Unfortunately, far too many graduates are pushed into accepting that first job offer – even if it means they are making a net loss every month.

As we all know, most industries have very low graduate salaries, in a bid to entice new recruits who are looking for that crucial experience. What a lot of people don’t understand is that the costs for finding a job in another city can be extravagant, and this is where the dreaded net losses arise from.

Bearing this in mind, we will now take a look at some of the cost implications for taking a job outside of your home city – and allow you to calculate it if it’s really worthwhile.

The transport factors

This is the big one, and the issue that can really be the difference between taking that long-distance job and passing up on it. We don’t need to document the cost of a vehicle – they stretch into the thousands and most people opt for monthly repayments. Sure, your situation can be aided somewhat if you turn to a form of refinancing, and perhaps turn the situation around by opting for a title loan to temporarily recoup some of your expense. These title loans in Plano highlight how effective this approach can be.

Of course, it’s not just the cost of the vehicle itself. There are insurance and fuel costs, with the latter only going to rise in the long-term. In the end, it means that you could be spending more than half of your salary on your vehicle and when the frustration of sitting in it for hours every day comes into the equation, you really have a decision to make.

What about renting?

Following on from the above, it can be difficult to justify a vehicle. So, the alternative is to rent a place in the city of the job, even if this is on a temporary basis. In relation to the latter, the emergence of the likes of Airbnb has made this much more possible, but it’s once again adding to your bottom line.

Some would suggest that the best option is to simply move to the city, but this isn’t as clear as it might sound. In some cities, unfortunately where the jobs tend to be based, the cost of renting can be beyond the ridiculous. When your initial costs of moving are factored in, this can be even less affordable than the other options we’ve explored.

A closing summary

As you can see, there really is little room for maneuver when it comes to a job in a new city. We know the jobs market is tough, but the costs involved in commuting or relocating make accepting a role in a different area very difficult for the modern graduate.