The Best and Worst States to Make a Living - TheJobNetwork

The Best and Worst States to Make a Living - TheJobNetworkWeve all heard about the American Dream, right? Its a lovely concept that has driven millions of people to set up their lives and careers all over the country. It speaks to the hard work that people do every day, hustling to maintain the best life possible for themselves and their families. The only trouble with the American Dream as a notion is that the U.S. is made up of 50 distinct entities, each with its own government, culture, and set of challenges. So career opportunities are not always created equally. Some states are definitely more hospitable to career growth and maintenance than others. googletag.cmd.push(function() googletag.display(div-gpt-ad-1467144145037-0) ) Every year, the personal finance and investing site MoneyRates publishes the results of their research on the best and worst states to make a living. This is not to say that the worst states should be shunned, or that you should pack your bags immediately and move to the best ones. But MoneyRates has evaluated five of the fruchtwein crucial, career-impacting factors to help you make an informed decision about where you want to beCost of LivingWorkdistributions-mix safetyState tax burdensMedian wagesUnemployment tarifsThese ratings are designed to help you decide where you should be, depending on your job priorities and goals.The 10 BestFirst, the good newslets look at the top-rated states for making a living for 2017.1. WashingtonWashington sits at the top of the poll after knocking out six-time champ Wyoming (now 6). Although it has a fairly high cost of living (about 7% higher than other states), other factors helped elevate it above the crowd this year, like high median wages, and solid employment rates and workplace safety. Washington also does not have a tax on wages, which makes it appealing as well.2. MinnesotaIf you can handle cold winters, Minnesota is a good choice for people seeking work. Its high median wages (its in the top ten), low unemployment rate, and low number of workplace safety issues make it a welcoming place to start your career, or make the jump to a new level. MoneyRates notes that Minnesotas state tax is the fifth-highest in the country, however, so those high wages do come with a catch.3. IllinoisIllinois is a good all-around candidate, scoring above the median in cost of living, state tax burdens, workplace safety, and median wages. The fly in the ointment its unemployment rate of 4.9%.4. TexasDont mess with it. Texas consistently ranks highly in this study year over year, including a 1 finish in 2015. Texass shining metrics are its low cost of living (significantly lower than the national average) and the fact that workers do not pay state income tax on their wages. These benefits come with a caveat, though Texass unemployment rate is the tenth highest in the U.S., so that is definitely something to consider if youre looking to change jobs without having one in the works already.5. ColoradoAlthough its home to some of the best skiing in the country, Colorado offers more to potential employees than its outdoorsy mountain charm. Colorado earns its place on the list by having the lowest unemployment rate in the country, 2.6%. The state ranked 11th on the list of states with the highest median wages, and if youre a fan of the movie This is Spinal Tap, that is basically the same as finishing in the top ten. Colorados low unemployment and high wages are balanced out somewhat by its higher cost of living and taxes paid by workers.6. WyomingThe previous best in show from 2016, Wyoming is still a contenderhowever, it lost some of its standing by an uptick in workplace safety incidents after the list was expanded to include both fatal and non-fatal incidents. Given that Wyomings top industries include mining, manufacturing, and logistics, this fact may be dismaying, but not entirely surprising. If you are in a lower-risk industry, then Wyoming can be a great place to m ake a living, with a strong median wage, no state income tax, and a low cost of living.7. VirginiaVirginia is for lovers, as the tourism slogan goes, but it turns out its also for workers. Like many of the top ten, Virginia is a state that gets consistently high marks year after year. Its a large state with diverse industries, and has above-average wage and unemployment rates. The state tax burden is high (perhaps keeping it from the upper echelons of the top ten), but it has a top 5 workplace safety ranking.8. OhioThe factors that sealed Ohios place in the top ten are two big ones low cost of living and low state income tax burden. This means that although the state is about average when it comes to wages, that money can go farther than it might in other states. As with Texas, however, the unemployment rate may give you unterbrechung at 5.1%, its the fifth-worst unemployment rate in the country.9. MichiganIf you love college football, then Michigan just might be the place for you. While there, you would also enjoy a reasonable cost of living, strong median wage, and safe workplace. However, its state income tax is higher than other states, which keeps it from being at the top.10. KansasTheres no place like home, right? If youre thinking of clicking your heels and heading to Kansas, youd be selecting a highly affordable state with a very low unemployment rate of 3.8% (lower than the national average). Kansass best feature is its cost of living, which is the eighth best of any state.The 10 WorstNow the less-good news. These are the ten states deemed to be the worst for making a living.1. HawaiiIt turns out that living in tropical paradise doesnt come cheap. Hawaii features a high median wage (the tenth-highest of all states) and a low overall unemployment rate, but also has a very high cost of living and a very high state income tax burden. Hawaii has the dubious distinction of being the worst state for making a living for the past seven years.2. CaliforniaIf y ouve been humming California, Here I Come and thinking about making a permanent scenery change to the West Coast, the states performance on the survey may cause you to put a pin in it. Californias high cost of living is Hawaii-esque, and workers in the state pay high income taxes.3. MontanaKnown for its rugged gelnde and independent spirit, working in Montana can be risky. The state is the third worst state in the ranking of workplace safety, thanks to injuries and workplace fatalities. The state also has a low median salary, placing in the bottom ten among all states.4. West VirginiaLike Montana, West Virginia earned its spot near the bottom with risky working conditions and low wages. The cost of living is relatively low, but this is not supported by other factors as it is in the states ranked higher on the list.5. VermontAlthough it has a low unemployment rate (its among the top ten in the country in that regard), Vermont also has a very high cost of living (its among the bottom ten in the country in that regard).6. OregonKnown for its Pacific Northwest charm (and, more recently, its hipster cred thanks to Portlandia), Oregon unfortunately also has a high cost of living. Its also the dubious winner of the highest state tax burden prize, ranking dead last of all the states.7. South CarolinaSouthern charm aside, South Carolina ranks low in almost all of the metrics measured by MoneyRates median wages, state income tax burden, and workplace safety, specifically.8. MaineWhile Maine has many coastal charms (and the best lobster rolls youre likely to find anywhere), its cost of living and state income tax burdens are among the higher ones on the list.9. New YorkFrank Sinatra might disagree about the inhospitability of his beloved home city, but as a state New Yorks high cost of living (particularly in the metro areas) and very high state income taxes counteract its high median wages.10. MississippiMississippis affordable cost of living is unfortunately counteract ed by its low median wage and dismal workplace safety ratings.Again, whether you want to move somewhere might be based on factors outside of the ones evaluated here. Your career is about what works best for you, but the best asset you have is information, so its in your best interest to take metrics like these into account when youre making major life and relocation decisions.

This Fortune 100 CEOs Secret To Success Is Super Applicable

This Fortune 100 CEOs Secret To Success Is Super Applicable Is it possible to be a century-old in aller welt corporation while also being on the forefront of innovation? According to GEs recent successes, it definitely is.Earlier this week, the Harvard Business review published an article by GEs Chairman article, he describes how he transformed GE from a classic conglomerate into a 125-year-old start-up.Even before becoming CEO, I believed that the company couldnt simultaneously be good at media, pet insurance, and making jet engines, Immelt wrote. Our portfolio was simply too broad and too opaque. One business had no idea what another business did. No one in leadership really understood the GE Capital balance sheet. And many of our industrial businesses had commoditized.So what did Immelt do? He platzset out to remake GE. He began this journey in 2001, when the future of the world landseemed particularly uncertain, and the initiatives he spearheaded still drive GEs successes today.A lthough were still on the journey, weve made great strides in revamping our strategy, portfolio, global footprint, workforce, and culture, he wrote. Were on a 40-step journey. Today were on step 22. I dont know exactly what step 32 looks like yet. But were going to explore that together. And we will do whatever it takes to be successful.Though youre probably not running a company the size of GE (but kudos to you if you are), there are a lot of leadership lessons to be learned from Immelts tenure as chairman and CEO. One mantra in particular stands out as crucial to GEs transformative success, and its something that Immelt himself views as crucial to the survival of a company Go all in.By all in, Immelt doesnt just meanshow an interest in. Going all in means more than wanting to learn more about or purchasing a small stake in. Those are great starting points, but the impact of ones actions must be much more significant in order to fully transform a company.When you get to the point w here you believe to your core that things have fundamentally changed when you feel that if we dont do it, its going to get done to us its time to act and to engage the organization, Immelt said about leading changes in times of industry upheaval. I hate to say it, but transformation takes time. If change is easy, it is not sustainable.Immelt explains that you cant regard any sort of transformation as an experiment. Half measures are death for big companies, he wrote. People can smell lack of commitment. When you undertake a transformation, you should be prepared to go all the way to the end. In the latter half of Immelts tenure, GE became very interested in additive manufacturing, a.k.a. 3-D printing. The company saw it as a strong asset for many of its businesses and began to look into the possibility of turning additive manufacturing into a standalone business. We could see a way to automate it. We could see it being very disruptive making what we want, where we want, with work ers who are more productive and more valuable, Immelt wrote.And so, GE was ready to commit. In 2016, the company purchased controlling shares of Concept Laser and Arcam. The price was steep about a billion and a half dollars for both companies but in Immelts eyes, it was worth it.They gave GE a market share of about 20 percent in the additive-equipment market, he explained. Even for a company our size, once you make a move like that, youre committed. Youre investing serious money. Youre driving it across the company you have to be disciplined about nesting initiatives within one another showing how each one fits with the rest and staying away from new ideas that dont fit. It takes strong leadership and training to successfully usher those changes through an organization and eventually, an industry. Grit and perseverance are definitely mandatory, but there are additional ways you can support yourself in making transformative change, includingHave a clear goal. What is the force t hat is driving your need for change? Hone in on that and use it to drive your initiatives forward. Make sure that whatever actions you take help in reaching that goal.Turn mistakes into opportunities. Like many other companies, GE was adversely affected by the Great Recession of 2008. Instead of finding a scapegoat, Immelt worked to turn the fallout into an opportunity to grow its aviation business. We fixed the problems, Immelt wrote in the Harvard Business Review piece. And a better company emerged.Listen. According to Immelt, the best leaders are also the fruchtwein curious. Take advantage of every opportunity to learn from your network and really process everything youre learning. Immelt recommends a soak period where you spend a long amount of time actively digesting new information before acting on it.Embrace new talent. In order to become a global company, GE had to learn how to access talent from across the world. When Immelt started as CEO in 2001, 20 percent of GEs officer s were women, were from outside the United States, or were minorities. As of 2017, that number has skyrocketed to 59 percent and shows no signs of slowing down.Immelt is aware that different leaders are responsible for different things. Some need to build a company from the ground up. Some need to manage momentum through a period of exceptional growth. In Immelts case, his need was to remake the company into a digital powerhouse. By committing to the need for change and opening GE up to new opportunities, he has no doubt succeeded.