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I’m surprised by how relaxed people are with regards to maximising their earnings.
On a weekly and often daily basis, I see people doing the same jobs, being paid very differently. Whilst I see marginal differences between people doing the same job, within the same company what is more significant is the difference between what different employers pay.
Are you being paid at the top end or the bottom end of the range for what you are worth?
Here’s what happens if you’re paid just 5% more than you are now…
|Earnings||1 Year||5 Years||10 Years||15 Years|
Every 5% less you earn could mean thousands of pounds overall – so grab that 5% with both hands!
It is a common phenomenon for salary levels to vary by 5% either way, so the table above is much more realistic than you might imagine.
Sometimes the variation in salaries can be far greater – as much as 15-20% or more!
For sake of simplicity, we’ve not built into the table any salary increases to represent inflation, nor any likely promotion. This is a flatline interpretation of what your lost income could be!
Beyond being paid what you are worth, there’s also the question of whether you are working in the kind of position which will maximise your earnings – to get the full picture including how to get a salary increase read our full white paper “Maximising your earnings”.
Robert Tearle, Managing Director