Career Related
Do we REALLY need to pay the CEO 200x higher than the median salary of an employee?
Do we REALLY need to pay the CEO 200x higher than the median salary of an employee? (Malaysia not yet this number I think… fortunately)
Do we REALLY need to pay the CEO 200x higher than the median salary of an employee? (Malaysia not yet this number I think… fortunately)
A number of close friends have retired or says they will stop working soon
Well we can only answer this if we know what’s the salary amount right? Someone earning RM20,000 should think 5 percent is sufficient, Its an increase of RM1,000 per month. Meanwhile someone earning RM2,000 per month would feel 5 percent barely covers the increase in prices of many things. It’s just RM100 extra per month if it’s 5 percent of RM2,000 salary.
It’s not just the working professionals yeah. The entrepreneur is also working to achieve her financial success. In fact she needs to work harder than a working professional because the entreprenuer has no income ceiling as everything is dependent on the success of her business. Meanwhile, a working professional no matter how he works would earn the same salary every month except when he gets a promotion or a bonus and an increment after every 12 months.
Many friends are working in the banking sector. One in particular has worked in the same bank for over 15 years I believe. She said that when she started, she had 25 peers. Today, she had just around 10. As you can see the banks are also changing tremendously. Online banking growth meant fewer people would be going to the bank. In other words, banks do not need so many people, they also do not need so many branches and last but not least, if they want to thrive, they have to go online and be inside everyone’s smartphone.
Act Your Wage says that we should just do as much as what we are paid for. If we are paid to write articles, do not also agree to do some work under the marketing team in the company. Never volunteer for additional work because we are not paid for it. If we are hired to be a finance executive, do not go and join other departments in some recreation projects which will inevitably take away our time from the official work which we were hired for. Is Act Your Wage a correct way to think about work? Read more first. My comments later.
Anyone here who does not want to complain that their pay is low? Well, even engineers are also complaining, not just those with non-technical degrees which the supply is much higher than the supply of fresh engineers. My brother and my two brother-in-laws are all engineers. They have been engineers for a long time and I think they will retire as an engineer. All three are holding senior level positions today. However, all three started from that low starting salary like many fresh engineers.
I just read about Meta announcing a fresh wave of job cuts and the numbers being announced would be 10,000 over the next few months. I quickly checked and according to statista (click here for source) Meta has over 86,000 employees as at December 2022. When we use this as calculation, it meant that around 11-12 pct of the current employees would cease to be employees of Meta in a few months time.
Actually it’s not just 28,000 because these 28,000 people may also have their family members who would also be affected too. In other words, this may potentially affect another 28,000 other people indirectly too. Before we become too affected, we should also know if these two companies are actually facing any financial issues at the moment.
Great Resignation is happening in many countries. Are you ready to resign?
Pressuring your manager to give you higher salary may not work