People are so worried about maximizing their pay, even if it costs them their free time, health, and relationships. Why? I don’t make much compared to my cohorts. But I make more than enough to live comfortably, go on trips, etc. Yet I’ve been prodded a number of times by coworkers about whether I should push for a raise since my performance is good. While pushing for a raise with my existing performance is cool, this can quickly turn into a slippery slope where you’re endlessly pushing to make more and more (when you don’t need it). What’s with this obsession to grow your salary forever? Is anyone ever actually satisfied with their pay? And why is being satisfied with you’re existing pay looked down upon? Is there an assumption that contentment with salary => complacency with performance?
If I don't care about pay, I shall retire now.
I want to be in a situation where I don't care much about my income. Then I'll be able to move anywhere I want without looking at the numbers much. So I pay too much attention to my comp now so I can prepare myself for the future. I'm 35 now. Looking to reach that stage by 40. I won't retire but I wouldn't hopefully care about earning money as much as I do now.
I don’t push my pay to inflate my ego. I’m chasing my FIRE dreams. That’s a gift to my future family and my spirit. It’s knowing that you never need to leech off the teat of the capitalist system ever again.
I like that. And of course there is a point at which it’s healthy to strive for FIRE. I plan on achieving FIRE (maybe not as soon as someone making 200k+/year, but still much earlier than many). That said, I feel like if I had to choose between: 1) Retiring 5 years earlier, but putting in all kinds of overtime relentlessly until that time 2) Retiring later while maintaining a healthy work life balance and generally still feeling pretty happy. I think I’d choose 2 every time. Of course this falls on a spectrum and there are many points in between (which also include spending less and such), but at some point, striving for extreme FIRE can end up being deferring quality of life/happiness. And to me that’s pretty similar to the “Well when I make $X, then I’ll be happy” attitude that corporate culture sells. What about making life better in the present? Again, not saying you specifically are doing these things or that everyone striving from FIRE is - but I see the “FIRE” justification a lot. Edit: spelling
What’s FIRE?
I think most of those people are either doing it for ego, or because they feel miserable in their jobs and want to retire ASAP.
Why not both?
As long as money is seen as a tool, and not part of your identity (ie. Seeking some type of satisfaction or validation from a TC), acquire as much money as you want.
(ie. Seeking some type of satisfaction or validation from a TC) ^^you just described 90% of people on Blind
Depends entirely on why you want the money. If it's to buy expensive toys to make you happy or impress other people then there's no point. If you see it as buying freedom or having the ability to make a difference then it's worth it. Money gives you the freedom to pursue any hobby, buy time (by quitting your job without stressing), buy convenience. At higher levels it gives you the ability to effect change (philanthropy, starting an organization, venture capital).
paying mortgage ? good 401k to depend upon retirement? today if you are fired, can you live comfortably for next 6months to an year? Can you follow a hobby, without thinking about money? if you say yes to all, possibly you do not need a job. You can follow hobby and possibly create jobs along.
Many companies will gladly underpay, it's on you to make sure you are getting your market rate. You don't have to be obsessive about pay to be smart about pay...
I think you missed the essence of what I’m saying. I didn’t say anything about complacency with getting underpaid - of course you should always negotiate for higher pay (especially if you’re performance doesn’t match your pay grade). What I’m talking about is the idea that we should always be in pursuit of income growth, even at the expense of our personal life and health. This is much different than “letting company X pay you 50% of what they pay everyone else at the same level”.
But OP you literally say you're not getting much compared to your cohort
I am with you, OP. I posted my experience about burnout on another thread this morning. Having seen that aspect when I was earning higher than my peers but was extremely unhappy, I am enjoying my current time even more. I love coming home at 6pm, working in a relaxed environment, and earning enough for myself (although I earn significantly less than my friends, maybe even half. But then the ones who earn double than me actually work on most weekends too), all thanks to my current manager. So I am very comfortable and satisfied with my life right now. It gives me time to look after myself, workout, and spare time for my loved ones/friends. No way I am trading this off for higher pay.
I can chime in because I grew up in both poverty as well as extreme wealth. Poverty to lower middle class uptil 14: Always had to compromise and “learn to enjoy what you have.” Eventually got used to it but always saw kids enjoying life more than I did. Didn’t have access to the best schools; went to a public school in kind of a crappy area in LA. Dad and mom both in medical school and grew up with my grandparents who supported us with savings. 1% lifestyle 14-22: Parents both finally finished medical school. Dad is a Highly specialized spine surgeon who makes $2 million a year. Mom is a Radiation Oncologist and makes about $700-800k. HUGE house upgrade; Extravagant vacations which are simply awesome and truly feel like a vacation rather than just some compromise that most people end up going through. Granted, he didn’t spoil us completely and both my sibling and I did something with our lives. Granted, I probably won’t ever make as much as he does but I plan to start a business and go from there. Money and ONLY money can give you and your family and amazing life. We all work anyway, so why not get compensated handsomely? I feel bad for people in the Service industry who make pennies to work their ass off.
God damn. I used to be premed. Sometimes I tell myself I made the right choice by going the tech route. But there’s no way I’m making $700K, let alone $2mil in tech. My only hope for that is to start my own business.
@taxExempt Dude tell me about it. I regret changing all the time despite what parents recommended (I was young, wanted to get my life started etc). Doctors get a lot of autonomy too; no annual review crap to worry about. But yeah the training is long and arduous. What do you do now and what’s your TC? What kind of business do you plan? I was considering opening an escape room. TC: 150k. Sorry dad 😞
People like you are few and far between... you’ve tasted the joy from life itself and not from inflating your ego. Unfortunately, a lot of people are living lives where they are forever trapped chasing, never truly satisfied. Sad
That’s not true. For a lot of people the satisfaction in life comes from success in career. Work is part of life.
IMO, If you are only considered satisfied once you are ‘successful’ monetary wise at your career, then this is the chasing I was referring to. Instead, the value you add every day should be enough satisfaction.