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If it's true that non monetary compensation replaces monetary compensation for these type of jobs then it's only good advice to not do them if that non monetary
by mattnewport 9y ago
If it's true that non monetary compensation replaces monetary compensation for these type of jobs then it's only good advice to not do them if that non monetary compensation is worth less to you than the average person doing those jobs. If that's all that was going on this advice wouldn't make sense unless you were motivated by money over prestige and job satisfaction to an atypical degree.
What's going on with these type of jobs is actually mostly just simple supply and demand. Supply of labor at a given price is increased by the perceived desirability of the work but that ignores both the demand side and the qualifications / requirements on the job. These help explain the examples that don't fit the overly simplified story in the article. Brad Pitt or Gordon Ramsay for example do quite well for monetary compensation in fields listed here because they are not easily substitutable. Doctors are still quite well paid despite the prestige and "helping people" job satisfaction because supply is restricted by licensing requirements.