Ask Your Coworkers How Much They Make!

This is always a touchy subject for people. For some reason, we have been convinced to not talk about our salary. Whoever made this the norm, is a genius social manipulator. What do you have to lose by asking? Nothing. Sure, it might be embarrassing to find out other people make more than you..but it should light a fire under you to change that!

It is equally as important to keep an eye on what the going rate for your skill set is.

  • What is the highest amount people are getting paid?
  • What is the lowest amount people are getting paid?
  • Where are you on this spectrum?
  • Which companies/industries pay the most?

Make a determination to see if a few words with your boss might get you a sweet increase. I’m a saver, but all the saving in the world could be in vain if you’re getting under paid. What is your time worth? What is your pride worth?

Get out there and ask! If you’re low, make a plan to get even or better. Find your worth and get it.

-Mike

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FI/RE-Friendly Job Hunting

I am very focused on reaching FI in less than 15 years. That involves a lot of sacrifice, but it doesn’t mean you have to be uncomfortable. If you don’t like your job, change it, even if it means taking a small hit to your finances. If you do change jobs, and you do take a financial hit, make sure the benefits out weight the negatives. Here are some things I like to ask a prospective employer:

Preface: So I’ve gotten to a point in my career where the type of work that is available for me has become quite specific due to my skillset. This means when I look for a new job, my decisions almost completely lies in what the company culture has to offer, and what benefits the company offers. Here are the questions I usually ask that end up adding the most weight to my decisions.

How big is your company? I want to know how many people I’ll get to work with and learn from. Small group places allow you to meet the other members of your proposed team. Larger groups increase the likelihood that you’ll make long-term friends. This all depends on the general culture of the company, however.
What is the career growth path of your company? Do you stay as a [job]? or do you become a [job manager]? is there room to become at [job vp]? Companies that are excited to tell you about the growth room tend to be growing and like to promote within!
How do you reward tenure? Sometimes not moving from job to job can stifle your growth both personally, experience-wise, and salary-wise. However, some companies who treat individuals as a valuable cog in the large machine, offer incentives to keep people growing. This can include bonus time off, milestone rewards (5 years, 10 years), salary reevaluation, conferences, and more. This is a huge deal breaker for me usually, as I like to become invested in my employer.
How much time off do you offer? The more the better. Period. Can you bank vacation days? Can you get paid out for vacation days? Are they generally more flexible around your needs? Do they track or limit sick days? This is a huge question for myself as I like to travel. If you don’t, you can always use a day at home to play catchup. Think about it!
What do you guys do for fun around the office? I go to the office to work. However, sometimes it’s nice to get up and take a breather, have an after work event, or a holiday-related event. A fun work environment is always a good thing.
How do you celebrate victories together? If the company ever takes you out for lunch, dinner, or drinks, you can definitely consider that a bonus. I’ve received gift cards, days off, and been able to attend some excellent team parties when deadlines are reach. These are the best days at work, and the more the better. Booze isn’t really a huge benefit honestly, but it’s a nice treat.
Let me know what you think. Anything else you really look for in a company?
-Mike