This is probably a little OTT, but rather than a pre tax TC being the best indicator, I've always preferred working out my effective hourly net pay as the best way to compare my 'value' amongst peers and different jobs. This means i take *everything* into account. * measure comp only in after tax income * commute time/costs * properly measuring hours worked, and maximising my efficiency by automating anything and everything. * 401k / Pension contribs * Dollar/your currency here value of all benefits - incl things like free food etc. * days available for vacation ...you get the idea. i then sum the monetary values, and divide by the total hours worked annually. This has led to some interesting effects - for instance - progressive taxation where i am means that by working part time, my net hourly rate went up massively. Also, non taxed benefits and the way Pension schemes work can make a substantial difference to effective TC when you measure like this. indeed, was once offered a job that doubled my TC at the time, that, when i factored in all the costs id incur with doing that job meant I'd end up with a pay cut in hourly terms. Am I very untypical? headline TC is important to me - but I'm careful to not let it totally blind me. ENHR ~ netting the same per hour as a VP in most companies by doing this, considering their hours worked and the punitive tax rates they would hit!
Albertsons
I mean I work around 3-5 hours a day... so my hourly rate is almost 250-300$ ish?
Exactly this. I was going to quadruple my TC but instead I cut my work hours by 95% and now my net hourly rate is over 9000 Edit-same job, same compensation. I just dont work anymore after the first 5 minutes and I eat all the free food and other people's lunches
For some people this seems to be genuinely the case in my experience!
I do the same. Enters my life with practical decisions like not hunting for cheaper gas station, paying 520 toll, paying more for faster flight option, etc. I also count overtime hours as 1.5x times the rate. Finally I do a COL adjustment when comparing jobs. Like the commenter above, also took many econ classes in college.
For me it's how much i make after tax, after rent and after commute
I value opportunities by net disposable income (annual). Which would factor in location, commute etc.
Regarding part time work - an additional, very important topic is career advancement, and I'd bet working part time slows that. Some things, like that, are tricky to measure quantitatively.
Yes and no. I doubt I could ever reach the C suite. But I want to stay technical anyway - that's where I'm highest impact - and in those terms it has only hampered me in making it difficult to convince firms initially that it works well. It's not impossible though. So at least in my case, the results have been stellar. I am a far, far better engineer - quantitatively - than I was when working full time. I'm more productive in 3 days than I was in 5. And the firm's I've worked for have noticed that, to the extent that at least in financial terms, I'm doing fine even by the measure of TC (for my local market) compared directly to full time peers. Win-win.
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Yup but I took a lot of Econ classes in college
Same!