Personal Finance 101: 5 signs we are overpaid (even if we think we are underpaid)

Personal Finance 101: 5 signs we are overpaid (even if we think we are underpaid)

#1 Sign: Complain Yes, Resign No

Many would complain they are being pushed to their limits by their ‘amazing’ boss. Many asked why even weekends also the bosses would send them message and expect a reply. Many would complain that they are definitely underpaid because their friends are paid higher for a similar job. Many would ask why the company is profitable but the bonus is so little. Many would question the logic behind the increment percentage which they say is even below the inflation rate. How would we survive?

Last but not least but would be people who feel they should be the one being promoted and not their colleague. They worked much harder and they are smarter and the only reason why the other colleague was promoted was simply because the boss likes them more. However, one thing most would not do is to resign. Some reasons include: It’s not easy to get a job these days, the other company not necessarily will pay more, how do I know if I am jumping from a crocodile’s mouth into a lion’s mouth? More reasons but basically, no need to resign, just keep complaining.

#2 Sign: Job Market is fluid, roles are aplenty (but not for us??)

A quick search via JobStreet.com just for Malaysia reveal some interesting roles as below:

Great title, good pay and it proves that when we have the right skill and joins the right company, we are likely to be comfortable too.

#3 Sign: Could we get a higher pay? Why do we have a higher pay today?

I think most people believe they deserve their current pay or a higher pay than their current pay. Well, we just need to remember that the world is a fair place. In fact from my understanding thus far, if one wants to resign here in Malaysia, one is able to resign without the fear of being hunted down… It’s a free world yeah. So, when the company needs us, they are more than wiling to pay us the salary we deserve. The company is also aware that it needs to continue to remain competitive. In other words, keeping costs down is also very important.

So, it’s a balance. What happens when one company is paying us way higher than everyone in the market? If this is the case, we should ask ourselves if it’s because of a skill which only we have? Or is it because the company is generous? Just remember, once the company is no longer competitive and closes down due to high cost of operations, we are unlikely to get back a similar pay yeah.

The one who could do the job but is willing to take a lower pay would usually get the job

#4 Sign: Demand for Talent versus Supply of Talents

If we are doing something which every single person in the whole department could do, do pray that we are not the last one to join or the one with the highest pay yeah. If we are doing something which is exactly the same last year and the year before and this year and the year after, yet we are paid ever higher every year, do we truly believe this kind of situation. would keep continuing until we retire?

Do look around us, are we one of the those talents which is in high demand and companies are being forced to offer a higher pay to attract application or are we part of the never-ending supply of the usual talents in the market? The reason why certain roles are being paid lower is NOT because the role is easy. It’s because everyone could do it which meant that there’s hardly any bargaining power for the person who wishes to resign because everyone in the market could take over and could be willing to take a lower pay too.

#5 Sign: All our peers seems to be doing better than us (after 5 years)

When we first leave school or the college or the university, we will leave with one whole batch of friends of the same age. We would all be graduating at the same time. We would start to see everyone finding a job, everyone sharing what they do and everyone showing off some of their successes and achievements. In the beginning, everyone seems to be almost the same. Buy a new car, maybe a cheaper one. Buy a new home, maybe a typical high-rise unit. Then, we start to see people moving ahead. Somehow they could afford a more expensive car, a more desirable home and even that holiday to that destination we yearn to be going too.

If most of our peers are able to do things which we could not, hey… maybe good to sit down, treat them coffee and ask them what changed for them. Learning is going to help us, denial is likely not. Of course, it could also mean all these peers are spending way above their limit, so that’s why they appear wealthier than us. Well, if that’s truly the case, then maybe we could say we are not overpaid?

Learning / Investing are the two ways to grow the salary / wealth

If we have not even used AI in our work, perhaps it’s time to really know more. If we kept doing the same thing and expecting to be paid higher, maybe we need to change our perspective. If we only dare to complain but somehow unable to get a higher paying job, it’s time to learn what is missing which could help us earn more. If we have zero idea about personal finance, do understand that investing is the only way to stay above because salaries may not be enough for our old days. Perhaps all we need is a new skill. Maybe it’s a new perspective and we could see we were not overpaid. Maybe find a richer partner, so we do not need to work so hard? Haha. Wishing everyone the very best.

Please feel free to share this article too. (links are all below) Thank you! 

Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER).  

Please LIKE kopiandproperty.com FB page to get daily updates about the property market beyond kopiandproperty.com articles. 

Else, follow me on Twitter here.