Yes! You heard it right.
I remember not so long ago reading Robert Kiyosaki’s Rich Dad, poor Dad said “Money is not the cause of all evil, lack of it is”. A very controversial statement, indeed. More so, in many cultures where making money = evil. Well if you believe in that, read no further J
After you have chosen your profession whether it is banking, advertising, manufacturing, software, or something else – go and work for the company that offers you the most money. If you have not figured it out on what career or industry is for you, better still, take the job that offers you the most money. If you are already in the organization, always take the transfer, or assignment that pays the most money. (How disgusting can we getJ, we have used money four times in this paragraph).
There are five key reasons why you must go for the money.
1. All your benefits, perquisites, bonuses and subsequent raises will be based on your salary. Corporations usually give the extra compensation as percentages. Therefore, a 10% raise on a $120,000 @ $120, better than the same raise on a $100,000 salary.
2. The higher paid you are, the more visible to top management you will be. (They will want to keep tabs on that super duper guy who is taking away so much of company money J)
3. The more money you are paid, the more contribution will be expected of you. (Obviously. Whoever said, there was free lunchJ). This means you will be given more responsibility, bigger tasks and tougher problems to solve. And hence – more chance to perform which in itself is an invitation to success. (More chances to screw up? Well, we will keep that for laterJ)
4. If there are two candidates vying for a promotion to a job that pays $150,000 and one makes $100,000 while the other $120,000, the higher paid person gets the job regardless of talent contribution or anything else. Corporations take the easy way out and it is easier to promote the higher paid than the lower paid.
5. Finally, in business money is the denominator. The more you make the better you are doing. Simple.
Promoting the higher paid employee is the path of least resistance in most situations. Someone else has already approved the higher paid’s compensation. That means he must be really good. Others just concurred. In fact the sponsors of the higher paid are themselves even higher paid. Promoting the higher paid endorses the wisdom of the upper management. Whoever said, it was fair!