External value is what fundamental value or service is the company I'm working for providing for the world? Is our net impact helping or hurting people? How severe is that impact? Etc. For a job to be meaningful the external value has to be such that there is a substantial, positive impact in the lives of our customers or community .
Internal value is how meaningful the day to day labor is to myself. Am I being challenged? Am I solving problems? Do I wake up and want to work? Etc.
If either of these values are significantly lacking, I don't consider the work meaningful. I'm still relatively early on in my SW career, but I've thus far had a difficult time finding work that meets my definition of meaningful. I'd happily take a pay-cut or work longer hours if I felt what I was doing was meaningful, but I just can't find it and I'm not sure if perhaps I'm looking in the wrong places or if it just doesn't exist.
So, to those of you who work jobs you consider to be meaningful, how did you find that position? What advice would you impart to a young engineer who doesn't want to spend his career working on things he doesn't really care about?
I am so certain because I've seen it happen to many people, such as a hippie couple that went to every countercultural spot in the U.S. hoping that somewhere they were going to find a special community.
I look for meaning right where I am. I have certain times when I really am bothered by work inhibition, maybe every five years or so, and sometimes I have found the answer in a new job but usually it's been a side project.
When I graduated with a ChemE degree, I decided that I wanted to do something positive for the environment. I didn't know how to start, so I just applied to companies with "environmental" in the name. That's how I got into the air pollution control field. Note: back then the internet was called "books", so I spent a lot of time in the library looking up companies.
Most companies have internal IT departments that write and manage line-of-business software. Find companies that do something _you_ find meaningful and try to get into their IT departments. Once you're in, recognize that no job is going to be seventh heaven every day. Make the best of whatever you're doing. It's a lot easier to do that if you're in tune with the company's mission.
My way is not the only way, of course, but that's what works for me. Good luck.
What to do is up to you. Bear with it, or work on other projects that you believe will make more sense to you.