Chasing Pay?

Posted by Bernie Reifkind on April 15, 2016

“Show me the money, Jerry!”- from the movie “Jerry Maguire.”

All too often people change jobs for the sole purpose for making more money.

Chasing pay.  I get it.  Who doesn’t want to make more money?

But one must always remember that in making career choices or job changes – building a compelling resume should also be on the agenda.  A solid resume is an investment for the future.

Changing jobs only to make more money may be a good idea…………..but at what cost?

Many think that money as the ultimate reward in a job, that isn’t always true. Sometimes there are risks associated with changing jobs for more money that we simply would not want to take if we think about them in some depth.

  • If a prospective employer sees you changing jobs every year or two for higher pay, they may see your time on a job with them as just another temporary stop. The moment another employer offers you more money, you’ll hit the road, Jack.  Employers frown from hiring perceived “unstable” candidates, whether or not it is true.  Too many job changes on a resume can make an applicant appear unstable.
  • This will be an even greater problem if the caliber of your performance doesn’t match your level of pay. Having a job, any job, isn’t just a matter of increasing salary; it’s also important to increase your skills and abilities to match.  If a new job is offering pay that is out of proportion to the depth of the job, it could be a warning sign. The job could be a revolving door, the type that no one stays at for much more than a year or two before quitting or being fired. The higher pay may be an incentive for a job that simply isn’t doable.
  • In some industries the only way to make more money is by relocating to take another job. While that might produce higher pay, it’s important to recognize that there may be risks to relocating. The new employer may pay your relocation costs, which is certainly attractive. But they may require you to relocate from a large, diversified job market to much smaller one.  But what happens if the new job doesn’t work out? The loss of your job in the new location could force you to relocate again – only this time you will be paying for the relocation yourself. Consider the change in your life style in chasing higher pay will be worth a higher salary. You may be leaving family, friends and a familiar environment in favor of a place where none of those advantages exist.
  • Finally there’s the issue that we don’t think much about when we are looking for higher pay, and that’s job satisfaction. You’ll probably be working at least five days a week, for at least 50 weeks out of each year. That’s a lot of time on the job, and that’s why job satisfaction so important.One may be better off in a lower paying job with higher job satisfaction, than a higher paying job with less satisfaction. The higher paying job may help you to pay your bills more easily, but it still may not be worth it if each and every day on the job is a struggle.

Oh, and one last piece of wisdom.  If “chasing better pay” is your agenda you will never make enough.

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