So, I thought I’d chime in with some advice on the subject—advice with a twist. Here’s a hint: this advice is as true in 2013 as it was in 2012, 1912, 1812, 1212…you get the picture.
So here it is, time tested and true: the secret to making more money is to make the law of compensation work for you. Stated simply, this law says that your compensation will reflect your value.
Meaning that if you continually enhance your value, keeping it higher than your remuneration, then you put constant upward pressure on your pay. If, on the other hand, you rest on past successes, letting your value stagnate or decline, that upward pressure will deteriorate, and your financial rewards will eventually be dampened.
So when you hear someone complain that they’re worth more than they’re paid, surprise them with this response: “Great! If your compensation is lower than your value, then there is long-term upward pressure on your pay. You’re in a great position!”
Hey, consider the alternative. What if you tell me you’re paid more than you’re worth? How confident would that make you in your future compensation?
Now that we’ve re-framed our perspective on the compensation issue, the next question is how. How do we do this? How do we constantly add to our value?
And that’s the very question I’ll address in my next post.