10 Mistakes That Keep Brilliant Black and Brown Grads Broke— and How to Flip the Script

Let’s get real for a second.

Black and Brown students are graduating at historic rates, but far too many are walking off that stage straight into underemployment, stagnant wages, and crushing debt.

FACT CHECK: According to a 2023 Center for Economic and Policy Research (CEPR) report, Black unemployment rates remain roughly double those of White workers across various groups, including college graduates. Even when employed, Black employees earn almost 25% less per hour than their white counterparts. They also carry more student loan debt.

We’re talking about brilliant, capable, and educated folks... still struggling to secure the bag.

That’s not a lack of talent. That’s a lack of access, strategy, and wealth-building tools.

So, here it is— the tough love list.

Below are the 10 common career mistakes keeping Black and Brown Gen Z grads broke— and how to flip each script like a boss.

1) Waiting for “The Dream Job” Instead of Getting in the Game

The Mistake: Holding out for a perfect role, and turning down stepping-stone opportunities

Flip the Script: Get in the door. Research shows that roughly 70% of young professionals find their ideal jobs by pivoting internally, not by applying externally. Think long-term. Take the internship, the contract, the lesser title; then, dominate and level up.

2) Ignoring Financial Literacy Until It’s a Crisis

The Mistake: Living check to check with no plan, and avoiding credit, budgeting, and long-term wealth building

Flip the Script: Start now. Only about half of Gen Z believe they’re managing their money well. But those who start investing early, particularly in their 20s, can increase their savings and risk tolerance, allowing for greater wealth accumulation and earlier retirement.

Open a Roth Individual Retirement Account (IRA). Set up auto-savings. Use apps like Credit Karma, YNAB, or SoFi. Small moves = long-term freedom.

3) Underestimating the Power of LinkedIn

The Mistake: Thinking LinkedIn is for “older” professionals

Flip the Script: About 72% of recruiters use LinkedIn when hiring new talent. Your profile is your first impression. Keep it clean, active, and aligned with your personal brand. Post. Comment. Show up.

4) Avoiding Salary Negotiations

The Mistake: Accepting the first offer and not negotiating out of fear or guilt

Flip the Script: A Harvard study showed that negotiating your first job offer can increase lifetime earnings by over $1 million. Know your worth. Use tools like Glassdoor, Levels.fyi, or AI salary analyzers to get real-time market data. Then ask for more— with receipts.

5) Not Monetizing Skills Outside of the 9 to 5

The Mistake: Relying on one paycheck when you’ve got multiple skillsets

Flip the Script: Use your talents. Whether it’s tutoring, designing graphics, strategizing for TikTok, or coding— today’s economy is built for side hustles. Platforms like Fiverr, Upwork, and Skillshare are your playground.

7 in 10 Gen Zs have side hustles, and side hustlers dedicating 12 hours per week to their business earn a median of $1,122 monthly— money that can erase debt or build savings.

6) Ghosting Networking Events and Mentorship Opportunities

The Mistake: Assuming talent alone will open doors

Flip the Script: 85% of jobs are filled through networking. Show up to panels. Join alumni groups. Message people on LinkedIn with purpose. Ask thoughtful questions. Follow up. Get connected— then, stay connected.

7) Taking Jobs Without Evaluating Benefits & Career Growth

The Mistake: Choosing jobs solely based on salary— not total compensation

Flip the Script: Ask the right questions: Is there a 401(k) match? Do they offer upskilling? What’s the promotion path? Black employees are promoted at lower rates. So, you have to advocate for your growth early.

8) Staying in Toxic Workplaces Too Long

The Mistake: Normalizing burnout, racism, or microaggressions for a paycheck

Flip the Script: You can earn money and keep your peace. Start building a transition plan. Document everything. Tap into Employee Resource Groups (ERGs), mentors, or organizations like Black Tech Pipeline, /dev/color, or Latinas in Tech. Your mental health is not negotiable.

9) Failing to Build a Personal Brand

The Mistake: Keeping your brilliance a secret.

Flip the Script: Today, you are the brand. Share your expertise on LinkedIn or TikTok. Blog your journey. Be known for something. Recruiters look you up on Google before they ever call you. Make sure what they find is powerful and clear.

10) Not Playing the Long Game

The Mistake: Living for the weekend, the paycheck, or the next small raise

Flip the Script: Wealth is built intentionally. That means budgeting, investing, planning your next five career moves. According to the Brookings Institution, Black families held only 15% of the wealth of white families in 2022— not because of lack of hustle, but lack of access and strategy, and systemic inequity.

The new rebellion? Strategy.

Final Word

Being brilliant isn’t enough. We need tools, strategy, and unapologetic execution.

If you’ve made any of these mistakes, you’re not alone.

What matters most is how fast you flip the script.

Your brilliance deserves more than survival.

It deserves legacy. It deserves freedom. It deserves the bag and the boardroom.

Let’s change the stats— and rewrite the narrative.

Ready to flip the script on your financial future?

Connect with us now at HBCU Heroes for exclusive resources, mentorship, and opportunities designed to help Black and Brown grads build wealth, break barriers, and own their success.