4 ms·
On the other hand $100/wk now + interest is worth more than a $5k bump some months from now distributed over the following 12 months.
by sidlls 10y ago
On the other hand $100/wk now + interest is worth more than a $5k bump some months from now distributed over the following 12 months.
- brianobush 10y agoEspecially with the amazing interest rates these days...
- 010a 10y agoThis isn't true on the span of a single year due to market volatility.
- sidlls 10y agoThe $5k bump has to be figured over more than one year, unless of course it's an instant raise.
- Zombieball 10y agoI think sidlls is really pointing out the present/future value of money calcations. It's 100% accurate if you invested in a flat rate, guaranteed interest, investment.
- deleted 10y ago[deleted]
- rexreed 10y agoI'm assuming the commenter is referring to interest on savings. Which of course is quite laughable these days.
- scarface74 10y agoAt some point though, isn't better to get paid more per hour than working more hours? The average senior developer in the area I live - a major metropolitan city on the east coast that isn't NYC - can easily charge $60-$75 hour as a W2 contractor, probably 30% more as a corp-to-corp contractor. It would be a better long term investment to keep learning and gaining skills that make your hourly rate of your salary higher. You can only work so many hours a day. A side benefit is that the more marketable skills you have, the easier/faster it is to get another job if you get laid off. My quickest time between looking for a job and getting an offer has been 4 days.
- rexreed 10y agoWhat interest are you referring to? Honestly we haven't had interest rates worth considering for years (at least 8 years since a savings rate above 1%). Now you get a rounding error level of interest on savings such that finding coins on the street probably doubles your effective interest rate on savings.