Warren Buffett's advice for young people: Developing this skill can significantly boost your future earnings potential.

Warren Buffett has words of wisdom for young people early in their careers.

At Berkshire Hathaway's annual shareholders meeting earlier this month, the billionaire investor advised job seekers to "find the job that you would like to have if you didn't need a job." However, he acknowledged that it can be challenging to achieve the perfect job immediately after college, and that one's dreams may take time to materialize.

Second: In order to reach your goals, hone your communication skills.

Buffett stated in an interview with Gillian Zoe Segal for her 2015 book, "Getting There: A Book of Mentors," that improving communication skills is a small change that can have a significant impact on your future earnings and other areas of your life.

The ability to persuade others to follow your ideas is crucial in any job, as stated by him.

Experts suggest that mastering the art of communication can significantly increase your chances of securing a job or a promotion. According to LinkedIn's Most In-Demand Skills list in February, communication was ranked as the top skill. A recent report by Joblist revealed that individuals with outgoing personalities were more likely to receive promotions in the previous year, with 25% of participants achieving this feat, compared to other personality groups in the survey.

A $100 public speaking course changed Buffett's life

Thousands of individuals journey to Nebraska annually to listen to Buffett speak at Berkshire Hathaway's annual meeting. However, Buffett disclosed that he once experienced severe stage fright.

"From childhood until around age 20, the mere thought of public speaking would cause me physical sickness. In college, I chose courses that didn't require me to speak in front of the class. If I was ever forced to do so, I struggled to even say my own name."

He enrolled in a $100 public speaking course to overcome his fear of speaking in public, believing that the high cost would keep him accountable and motivated.

To maintain his skills, Buffett took up a teaching job at the University of Omaha after the class ended, he stated.

"If I didn't speak confidently in front of an audience, I would revert to my original state," Buffet admitted. "I persisted in doing so... The influence of the class on my life was immense."

Buffett doesn't showcase his diplomas from Columbia or the University of Nebraska in his office, but he displays his graduation certificate from a public speaking course, as he informed Segal.

He stated, "It gave me the most important degree I have," and added, "It certainly had the biggest impact in terms of my subsequent success."

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