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I say meh to all of this. You're better off taking that extra time and spending it on side projects and side businesses that will give you independence from you
by bendixso 10y ago
I say meh to all of this. You're better off taking that extra time and spending it on side projects and side businesses that will give you independence from your current company.
When you take taxes into consideration, the promotions don't really add up to that much. You're just adding to your yearly income, which tends to get taxed quite heavily anyway. You need to find a way to take your effort and put it into something that doesn't get taxed as much as regular income does.
I would be more interested in building passive sources of income that don't rely so much on my being present to bring in the money.
I also generally don't like the idea of someone else telling me what my contributions are worth. By putting in all those extra hours, you're basically pinning all of your hopes on someone else's judgment. If they like you, then maybe you'll get that extra money.
But what if they don't? What if they're just some sociopath who couldn't give a rip about your career goals? In my experience, that's been the case more often that not.
It would take one hell of a leader to convince me it's worth putting in all those extra hours. I would basically need assurance from the very beginning that I would be getting a bigger cut of the pie.
- VexXtreme 10y ago> I also generally don't like the idea of someone else telling me what my contributions are worth. By putting in all those extra hours, you're basically pinning all of your hopes on someone else's judgment. If they like you, then maybe you'll get that extra money. He mentioned he works in finance. That whole industry is very hierarchical and based around strict pecking orders (and lots of koolaid drinking to boot). In many firms, you are always just "one project away" from being promoted or made partner.
- shostack 10y agoThe might be applicable to some, but if he works in finance, there's a possibility that the compensation is heavily performance-based, and high enough that it is much smarter to focus on maximizing that (while investing/saving it) than it is to spend non-existent free time on side projects that might pan out to something eventually. At a certain level of income from a job, it can very much make sense to pour everything you have into it to maximize your personal return while you can.