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Career diversity - a new paradigm

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  • Career diversity - a new paradigm

    More co-worker couples losing both incomes at once: Financial News - Yahoo! Finance

    I thought you may find this article interesting. We are lucky in that I have a part-time business and a part-time (casual) job at a hospital. My wife has a full time job at a hospital.

    I am happy we don't have all of our eggs in one basket.

  • #2
    I guess we should all marry surgeons with big trust accounts. No but seriously, I am an unemployed teacher and dh got laid off from automotive computer job. We would have more luck if one of us was in the medical field or if one of us had a "union" job but I chose him for his caring loyal personality, lack of bad habits like smoking and drinking, good looks, and compatability not his job.
    Last edited by Goldy1; 02-09-2009, 02:34 AM.

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    • #3
      Interesting article. I had never thought of what the consequences (financially) may be if the husband and wife both work at the same company.

      I wonder if there are certain jobs where a couple is more likely to be laid off at the same time? Like the auto industry vs. law vs. education, etc.

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      • #4
        We met in school, and were in the same field for several years. We were even in the same narrow niche in the same field. We never worked at the same place, but we knew we were limited to living in big cities because otherwise there would never be jobs for each of us.

        I changed fields about a year and a half ago, thank goodness, so we are now more diversified.

        I agree with Goldy, and with the family specialist quoted in the article. There are many more important factors in choosing a mate than whether their job is economically complimentary to yours. Sure, it's a factor, but I don't think it should be a major consideration.

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        • #5
          Health care isn't immune.

          One scenario they are running at my wife's workplace (the hospital system) is they are crunching a 20% paycut vs. layoffs. Even though my wife's job would probably be immune (really, no one is immune), she said she would rather take the certain paycut than risk the 1 in 10 chance of the layoff.

          Luckily, my chiropractic business is up about 20% since the summer. . .go figure.
          Last edited by Scanner; 02-07-2009, 04:58 PM.

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          • #6
            I guess all I meant by posting this article was, back when I was a regular here, I did recommend, if you have the choice of diversifying your income sources/career choices as a couple - do it.

            My wife works administration/management/marketing so her skills are broad. I am a healthcare practiticioner (2 licenses - chiro. and rad. tech) so my skills/niches are more narrow. We have different economics even though we are both in "healthcare." My primary profession, chiropractic, has really been in a 15 year "recession" prior to this. I think though, ins. companies have squeezed us for all we are worth and now we are mostly going cash so they are losing leverage over us (but still have some). Therefore, all of the sudden, for different economic reasons, we all seem to be up in this economy. ( I think people don't want to risk mainstream interventions as much when things are tight too )

            Anyway, I have been longing to transfer to academia but just can't seem to break in. There is a position about 200 miles away that I am qualified for (very qualified) but that means a move. . .and you all know the pros and cons of that. Still, the bennies kick butt in academia, even if the pay is marginal.

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            • #7
              We are diversifying. Not because we had to but because my DH wanted to. He's getting and mba and we're both in sciences. It's how we meet. But he really has wanted to do business. I'm thinking of exploring other options as well.

              But i certainly didn't pick him for his career.
              LivingAlmostLarge Blog

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              • #8
                I actually can't remember the jist of the article now but I don't think there was any recommendation for marrying based on career diversification - it just may be an idea later on when one spouse is bound to eventually make a career change (not many people begin and end with the same career).

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                • #9
                  I was getting off topic I don't think the article or anyone would imply picking a mate based on career. I will say I was never looking for a man "for money" but I always admired a man who valued education and had goals.
                  It is just incidental if spouses work at the same company/field, and it can have consequences.
                  Healthcare is not immune, but is truly more immune than other fields.
                  I also consider myself diversified alone. I have a degree in teaching and some prior experience in that, as well as on the job experience in healthcare which I soon intend to further with going back to school. The con is less years in one field so I never got really experienced, but the pro is more eggs in my basket.

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                  • #10
                    While it was never a consideration when we met and married, I do pay attention to our career diversification now that we are married. I actually picked something very stable and highly employable in part because I knew my DH's career prospects would always be unstable.

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