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Seek personal happiness over pure profit

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Warren Buffett is the Berkshire Hathaway CEO and shares valuable career advice with students.

Buffett wrote that it means to pursue a job you love, at a place with skilled people you admire. his annual letter to shareholders. He also advised that job seekers seek work in fields they would choose if there was no money.

Buffett said, “Economic realities may interfere with this kind of search, I admit.” Even so, I advise students not to quit their search for work. They will be no longer ‘working’ when they land that job.

The 91-year-old billionaire — currently the world’s fifth-richest person, with a net worth of $114.7 billion, according to Forbes — speaks from personal experience. Buffett’s letter stated that Charlie Munger, Berkshire vice chair and Buffett were both part-timers when they started working at the grocery store of his grandfather in the early 1940s. There, they were given boring jobs and made little.

Buffett stated that “job satisfaction continued to be elusive” despite the fact they had branched into law and securities sales. The duo found what they were looking for, and that changed. [they loved]Berkshire: Things to Do which Buffett purchased in 1965This forced the previous company management to resign.

Berkshire Textiles was in trouble at that time. It is now an investment company and holding firm that holds or owns long-term stakes at businesses such as American Express, Geico and Fruit of the Loom. As of Tuesday morning, its market capitalization was $708.61 billion.

Buffett’s success is due in large part to Berkshire’s recent years of financial success. Buffett also partially credits that success to Munger and him finding people they enjoy working with. “We employ decent and talented people — no jerks,” Buffett wrote. “Turnover averages maybe one person per annum.”

Berkshire could have been the one to beat in this regard. Low turnover has become a hallmark of highly productive and financially profitable work environments. CNBC makes it easy recently noted, “enthusiastic stayers” — who make up a third of the workforce — are more engaged, more productive and help businesses become more profitable, according to December 2020Research published in Journal of Managerial Issues.

These findings seem to be supported by Buffett.

“With very few exceptions, we have now ‘worked’ for many decades with people whom we like and trust,” he wrote. It is a great joy.

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