Some 37% of people have accepted a job they weren't otherwise interested in or that fell outside of their desired industry because it gave them a better opportunity to repay their debt, a survey from Zety found.
According to the resume builder service, about half of Americans carry $25,000 in debt, and one in five carry over $100,000. These financial obligations are changing the way people think about and prioritize work.
"Debt is a growing force behind why people take certain jobs, stay in roles longer than they'd like, or hesitate to make a career pivot," Indeed career trends expert Priya Rathod told CNBC.
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Zety found that 38% of people had taken on extra work to help tackle their debt, and 17% of people felt trapped in their current positions, unable to pursue other dreams like starting a business or going back to school, because of their debt.
"Their financial status is impacting not just them in terms of their work and their 9-to-5, but also those life goals," Zety Career Expert Jasmine Escalera told CNBC.
Experts like Rathod told the outlet that when people pick up extra work, it's often because wages and cost of living, which includes debt repayment, aren't matching up. "It's driven by necessity," she said.
However, not all 1,000 workers surveyed by Zety said that the cost of living outpacing wages was their only financial concern. A large portion said that current economic uncertainties were adding to their financial fears. Concerns over tariffs are the largest driver, with 78% saying they are worried that the levies will make it harder to repay or avoid debt in the future.
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When it comes to strategies to offset the impacts of tariffs on debt, 38% of those surveyed said that they had reduced non-essential spending. Another 25% had increased minimum payments in an attempt to get rid of the debt faster, while others were employing strategies like consolidating debt, transferring balances, and negotiating with lenders, among other options. Meanwhile, 34% of people have taken no specific action due to limited financial options.
Many experts agree that taking on additional work can be a great short-term solution for tackling debt, but others warn that it shouldn't be your only plan of attack.
"People really need to understand that working more hours is a short-term solution, and growing your main income is a long-term strategy," Rathod told CNBC.
Asking for a raise, negotiating for parts of your compensation package, and applying for new roles with better wages and benefits are all preferred options, according to Rathod. However, if you are confident that a second job is the best option for you, she recommends choosing work that relies on skills you have already mastered and ensuring the additional hours do not interfere with your primary role.
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