Man Makes $13k in 5 Months, Doubles Salary, and Turns Down $25k Raise
One of my favorite blogs is I Will Teach You To Be Rich. It is one of the blogs on the top of my Bloglines list. I Will Teach You To Be Rich recently published an article about an e-mail a reader had submitted entitled How Todd Made $15,000 in 5 months, doubled his salary, and turned down a $25,000 raise. Todd recounts how he took his employer up on every possible training opportunity, worked more hours than others, and did whatever it took to get the job done. His efforst quickly earned him the promise of a 25% raise. His company did not come through with the raise. After two months of following up with his superiors, Todd polished his resume and quickly obtained another job. His new position was double his current salary.
Todd has illustrated how globalization and the United States move to a knowledge based society has returned power to the worker. If we are willing to go out, expand our knowledge, and deliver more than expected, we will be recognized. That recognition may not come from our current employer, however, it will be noticed by someone.
Todd’s story also illustrates the need for companies to shift from the addage that “there is always someone needing a job”. That is true, especially now, there is always someone looking for a job. But, are they the best person for the job. Would the company not be better off to spend more money and time retaining effective employees than spending precious resources recruiting new ones?
Here is a good example. I was recently speaking with a former General Manager of a Sebarros Pizza restaurant. He had at one time been over all Sebarros stores in North America. After two heart attacks decided that being on the road 300 days a year was too much and took a demotion. He had an interesting story about the cause of Sebarros current bankruptcy.
He stated that after Sebarros went public the new CEO replaced a large number of upper management with his personal associates. Often, these new employees made more than the people who had held those positions for 20+ years. These extra expenditures were offset by hiring younger employees for general management positions within the stores.
These new General Managers were not experienced in running a restaurant. They would not make higher ticket food items until they were ordered because they feared their food cost going up by throwing these items away. This particular store was in a high traffic mall. Customers did not have time nor did they want to wait. They would buy the lower ticket items that were readily available. While the number of customers actually increased the store’s revenue went from $21,000 a month to $9,000 a month in two years.
This illustrates the falacies that are costing US businesses their good employees and even causing bankruptcy. Todd’s story illustrates how the american skilled worker can use these falacies to his advantage. I agree that you should not change jobs solely for money (unless you want to). However, it also is not a good idea to “go down with the ship” simply for comfort, nor can we wait till we are laid off or fed up with our current position to expand our personal knowledge.
This story does not directly relate to making money online. It does illustrate the errors in judgement being made by many holding current management positions. American companies are going through a shift in their base beliefs. Anyone who recognizes this trend and takes the opportunity to advance their skills will position themselves in a position to better themselves, their family, and their future.
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