Independent living for young adults is probably one of the significant goals everyone should experience to grow fully. But it is also not a secret that living independently could cost you a lot, especially if you are still young in the industry.
One booming industry that provides high-paying entry-level jobs can be found in the digital field. But according to a report by an e-commerce group known as IPrice Group, landing a career in the digital domain is still not good enough to rent a decent place in the central business districts (CBDs).
Top High Paying Entry-Level Jobs in the Tech Industry
If you are a graduate in marketing, then you should know that entry-level digital marketing jobs are among the tech jobs in demand. According to data from Payscale, the highest paying job in the digital field is Junior Project Managers and Junior UI/UX (user interface or user experience) designers.
Here’s a list of the average monthly salaries of the highest-paid Entry-Level Digital Jobs:
- Junior Project Manager = PHP 30,813
- Junior UI/UX Designer = PHP 30,338
- Junior Software Engineer = PHP 25,315
- Junior Front-End Developer = PHP 24,303
- Junior Software Developer = PHP 23,436
- Junior Community Manager = PHP 22,000
- Junior Data Analyst = PHP 21,893
- Junior Digital Marketing Specialist = PHP 20,083
- Junior Graphic Designer = PHP 15,085
- Junior IT Technician = PHP 15,000
In a press release, Roman Kumus Vyas (founder of Refocus, an online education technology) said, "The past few years have shown great potential for more companies to hire IT and digital marketing professionals to help grow their businesses." This only proves that digital-related jobs are really in demand. Moreover, the Philippine Department and Industry (DTI) shared last May that nearly 980,000 jobs were created in the previous year to help the country recover, with the majority of those jobs coming from the construction, IT, and business processes management industries.
But even if there's a high demand for these tech jobs, there's a gap between the education technology and the need for employment. In fact, Roman Kumus Vyas confirmed that "While there are many interested in marketing, there are not a lot of qualified employees on a local scale, so we are taking this opportunity to provide the necessary means to upskill and help these employees gain the knowledge and capabilities."
Why are these entry-level jobs not enough for independent living for young adults?
Even if you qualify to land an entry-level job in the tech industry and you become a Junior Project Manager or a Junior UI/UX (user interface or user experience) designer with an average salary of PHP 30,000 per month, it is still insufficient enough to afford an apartment in Makati, Manila, Pasig, Quezon City, or Taguig. The average monthly rent for these cities is PHP 32,500, according to a cost of the living database, Numbeo.
Here's an average Monthly Rent Price of a One-Bedroom Apartment in the Central Business District:
- Taguig City = PHP 47,000
- Manila City = PHP 33,153
- Pasig City = 32,500
- Makati City = PHP 32,286
- Quezon City = PHP 19,667
According to iPrice, here’s the average cost of 5 Home Essentials:
- Refrigerator = PHP 5,290
- Stove = PHP 1,951
- Vacuum Cleaner = PHP 1,400
- Electric Fan = PHP 629
- Rice Cooker = PHP 538
Besides paying rent that is high enough alone, independent living also means you must have your appliances, pay for your monthly groceries, and pay for your monthly bills. This only proves the statement of iPrice on why Filipinos opt to stay at their parent's homes, and they said, "This is a bleak revelation for the Filipino entry-levels, especially since we're already talking about the highest-paid jobs that are best suited for them. This is perhaps partly why many Filipinos don't leave their parents' homes until they marry. Those that do may resort to sharing an apartment or renting bed spaces."
How to afford independent living for young adults?
If you want to live independently and think your salary is not enough to afford it, don't be disheartened because, with the proper budget and preparation, you can still do so. While you are still living in your parents' home, it is the best time to cut off some expenses and build your emergency fund. One of the hardest things about living independently is taking care of unexpected costs. But if you have an emergency fund, it will not stress you to find immediate cash to take.
Finding a suitable apartment and condominium is also an essential factor. You should consider your current financial status and rent a place within your means. One way to save is living with your friends or co-workers, especially if you are from the province and choose to work in Metro Manila. Living with someone else will help you cut your expenses and make a living more knowledgeable. If you can't afford to live within the central business districts, you may choose to live nearby barangays with cheaper rents.
Another thing to remember is to manage your budget wisely. Living in a world where everything now is easily accessible because of technology, it is easier to be tempted to spend money and impulsive buy things. That's why you must have self-awareness about your financial capacity and spending habits. One way to do that is by having your budget tracker. This way, you can quickly see how much you receive, spend, and save monthly.
The last tip you should remember is don't rely solely on your income. Living independently for young adults like you could be expensive and challenging; that's why you must also remember to allow a portion of your salary to worthy investments. You could also maximize your skills and try freelancing or accept part-time jobs, especially if you have experience related to an entry-level digital marketing job.
To live independently is probably the most challenging yet worthy decision a young adult will ever make, so take time to prepare yourself mentally, physically, and financially.
For more information on Vista Residences, email [email protected], follow @VistaResidencesOfficial on Facebook, Twitter, Instagram, and YouTube, or call the Marketing Office at 0999 886 4262 / 0917 582 5167.
