Read on Twitter
Each job pays you 5 salaries:
1. Financial
2. Psychological
3. Social
4. Educational
5. Freedom
When we're unhappy at work, we often focus on getting more of the wrong salary.
This strategic misstep fails to solve our problems, and it's entirely preventable.
A thread
1. Financial
2. Psychological
3. Social
4. Educational
5. Freedom
When we're unhappy at work, we often focus on getting more of the wrong salary.
This strategic misstep fails to solve our problems, and it's entirely preventable.
A thread
1/ Let's first define each salary:
❶ Financial: Annual salary, bonuses, equity, healthcare, benefits, etc.
âť· Psychological: The internal and external meaning you derive from your work. Your connection to the mission, product, work you produce, and praise you receive.
❶ Financial: Annual salary, bonuses, equity, healthcare, benefits, etc.
âť· Psychological: The internal and external meaning you derive from your work. Your connection to the mission, product, work you produce, and praise you receive.
2/
❸ Social: Prestige, job title, and identity capital you receive.
âťą Educational: Skills, relationships, and learnings that contribute to your development as a person and professional.
âťş Freedom: Your ability to work on your own terms.
❸ Social: Prestige, job title, and identity capital you receive.
âťą Educational: Skills, relationships, and learnings that contribute to your development as a person and professional.
âťş Freedom: Your ability to work on your own terms.
3/ Time and time again, I've seen unhappy workers focus on improving their financial and social salaries.
The assumption is that getting more money or a better title will somehow solve their dissatisfaction.
The problem is that money and titles are often not the real problem.
The assumption is that getting more money or a better title will somehow solve their dissatisfaction.
The problem is that money and titles are often not the real problem.
4/ For many people, it's something else.
Not being challenged. Not feeling respected. Not having autonomy.
Not spending quality time with kids. Not surfing in the mornings.
The psychological, educational, and freedom salaries are lacking.
Not being challenged. Not feeling respected. Not having autonomy.
Not spending quality time with kids. Not surfing in the mornings.
The psychological, educational, and freedom salaries are lacking.
5/ Assuming the problem is financial or social, people continue to bang on the doors of their managers to get more money or a sweeter job title
Yet even when they're successful, they get a short-lived bump in happiness and then plateau again.
They didn't solve the problem.
Yet even when they're successful, they get a short-lived bump in happiness and then plateau again.
They didn't solve the problem.
6/ What’s fascinating is that it’s often easier to get more in the psychological, educational, and freedom salaries.
These are the places where it's easier to find trades of unequal value – areas where companies can give you something that you find valuable and they find cheap.
These are the places where it's easier to find trades of unequal value – areas where companies can give you something that you find valuable and they find cheap.
7/ None of this is to say that you shouldn't pursue more money or a better title.
You may be genuinely underpaid. A new title may be the next step in your career.
But don't lose sight that these things aren’t always the drivers of your dissatisfaction or lack of engagement.
You may be genuinely underpaid. A new title may be the next step in your career.
But don't lose sight that these things aren’t always the drivers of your dissatisfaction or lack of engagement.
8/ So if you’re unhappy at work, start by rating each of your 5 salaries on a scale of 1 to 10.
This helps you understand the problem and diagnose the biggest areas for improvement.
Next, choose the areas you want to improve and brainstorm some ideas for improvement.
This helps you understand the problem and diagnose the biggest areas for improvement.
Next, choose the areas you want to improve and brainstorm some ideas for improvement.
9/ Take action.
Evaluate your options and pursue the ones with the highest expected return for what YOU want out of work.
Don't optimize for what your friends find cool.
You may not get everything you want, but you'll get a lot closer than if you default to money or titles.
Evaluate your options and pursue the ones with the highest expected return for what YOU want out of work.
Don't optimize for what your friends find cool.
You may not get everything you want, but you'll get a lot closer than if you default to money or titles.
P.S. I first shared this idea in my bi-monthly newsletter that helps you get more out of your life & business.
If you want more ideas & frameworks like the 5 salaries, you can get them first here: https://calvinrosser.com/newsletter
If you want more ideas & frameworks like the 5 salaries, you can get them first here: https://calvinrosser.com/newsletter
