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Actually it's not. $20k might seen like a lot to you at $50k, because your life and expenses are calibrated to that level. It means a little less at $100k, and
by _ah 8y ago
Actually it's not.
$20k might seen like a lot to you at $50k, because your life and expenses are calibrated to that level. It means a little less at $100k, and much less at $200k. I'd argue that if you make it to $500k, a 20% raise is absolutely meaningless because you probably already have enough for your lifestyle needs.
Ever wonder why CEOs get SO MUCH MONEY to switch jobs? This is why. Lower amounts just don't move the needle and prove enough incentive.
- Art9681 8y agoIt depends what you intend to do with that money though. For example, if I can put an extra 100k into a retirement fund or investments over the next 5 years then that is an incentive to go for the 20% raise. I say this because I am currently in that situation. I am about to accept an offer for a substantial raise. I own a nice new car and have a big home. I could decrease those expenses and put more into retirement or I can continue with my current standard of living and put more money into retirement by accepting the offer. In the end, depending on what your financials are like, that 20% raise could mean the difference between retiring at 67 or retiring at 60...or before that. It's all relative right?
- noxxten 8y agoI disagree in a way... If my cost of living and all other expenses don't change, and I just switch jobs and instantly got a 20% salary increase... Whether I'm making a $30k salary or a $200k salary, that's a lot of extra money to throw at savings, hobbies, retirement (retire earlier?), etc...