Archive for September, 2010

Career Decisions – How Much is Enough?

Thursday, September 30th, 2010

When do you know you have enough money? Do you always need a higher salary, or an increase in revenue? To some these are moot [aka “dumb”] questions because of the belief that “more is always better.”  Much has been written and espoused on the Scarcity vs Abundance perspectives and their impact on the way we live our lives and relate to others.

A recent interview on NPR brought this issue back to me. Mag Instrument Inc. (MagLights) could make much more money if they off-shored production. But that is not what is important to the owner.  Keeping people employed is a higher priority than excessive profits.

Earlier in my career I was faced with a choice of earning 10% higher salary doing the same kind of work, or staying at current salary and increasing my professional knowledge and capabilities. At that time in my life I was satisfied with my lifestyle and income.  More money would not have increased that satisfaction. But learning new things was  more enticing and would offer longer-term marketability.  I’ve never regretted that decision, even when a year later I was job hunting. I found another fantastic job because I had the additional expertise.

There are times when we do need to strive for greater income to meet basic needs.  Are they really ‘needs’ or ‘wants?’ What do you trade-off for money?