Does Your Salary Stop You Getting Rich?

 

What is your salary?

  • Security
  • Endorsement by your company
  • A promise of holiday and sick pay
  • The easiest way to get paid - no tax/SL calculations
  • A representation of the value of your time

"I love my salary like a cosy blanket"

- Weird, stock image woman

What if we looked at it a different way?

What is your salary?

  • An annual cap on your potential
  • Gives responsibility for your worth to someone else
  • A reason to maintain the status quo
  • A system designed to pay you last
  • You are selling your time, but on someone else's terms

"My salary defines my maximum worth"

- Sad, stock image woman

You need soft skills to get a decent raise

  • Comfortable talking to your boss and negotiating
  • Shout about what makes you special
  • (Make yourself special)
  • Convey your own worth
  • Be confident in your authority

In the UK most people aren't comfortable with this because a salary isn't seen as a business transaction.

The Alternative

An Example

An Example

This week I set up a client with a React developer who charges £400/day

£400 * 5 (days) * 4 (weeks) * 10 (months) =

£80,000

With two months holiday 🛫

Why isn't everyone doing this?

You need soft skills to get any freelance work

  • Comfortable speaking to your clients and negotiating
  • Shout about what makes you special
  • (Make yourself special)
  • Convey your own worth
  • Be confident in your authority

The skills which will help you progress in a salaried position are the same skills which will help you be a successful freelancer.

Why do I care what you do?

I think the way many people in the UK view their salary, a gift from their employer, is unhealthy.

You are selling your time (sometimes your entire working life) to a company - do you want to leave it up to them to determine what that's worth?

Things you should do

  • Start viewing your salary as a transaction between equal parties
  • Sell your time for what it's worth (not what you think it's worth)
  • Develop the soft skills you need to get what you deserve as an employee or freelancer/contractor
  • Take an active role in raising or removing your ceiling of potential

Thanks!

Define your own value

@mattgrayisok

Does Your Salary Stop You Getting Rich?

By Matt

Does Your Salary Stop You Getting Rich?

A presentation put together at 1am for BarCamp Manchester 2018. A few thoughts that I've had around the concept of salary in the UK.

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