Just about everyone wants to be paid more. Most of our lives are based around what we need to do to earn money. Nurses and teachers complain non-stop about being under-paid and overworked. They do wonderful work for humanity, but unfortunately the world works in a different way. Sure, they can go on strike and legally blackmail the powers that be into giving them a raise - but that doesn’t always work, and the increase is usually insignificant.
When a politician gets a raise, everyone loses their minds about it. Or when a CEO of a public company makes millions of dollars per year, suddenly everyone has an opinion of how much she should be paid. We see memes on Facebook saying something along the lines of “Share this if you think a soldier should be paid more than a high-profile sportsman”.
The world simply doesn’t work like that.
Money flows to where it is valued. Facebook is worth 200 BILLION. Apple is worth over $700 Billion – which is more than the country of Switzerland. These companies provide a lot of people with insane value. Imagine how the world would be if we didn’t have these companies around. You get paid more based on three things:
1. Difficulty of the work.
2. How rare you are.
3. The demand for you.
You could be the best cigarette lighter repairman in the world. At the absolute top of your game. No one can repair lighters like you do. You are absolutely unmatched in skill, speed and attention to detail. The work is difficult to do and as far as you are aware, you are the best in the world – a complete rarity.
But how in demand are you?
I dare say probably not at all. Most people who smoke will probably just throw the lighter out and buy a new one for a dollar. So you won’t get paid very well as a lighter repairman.
But what if you created a new design of a lighter? Something that could make a company millions of dollars because it reduces production costs? What about if you took that design to Bic? Would they employ you and pay you well? Of course they would.
Let’s look at Lebron James.
He is an American professional basketball player for the Cleveland Cavaliers of the NBA. Standing at 6 ft 8 in (2.03 m) and weighing 250 lb (113 kg), he has started at the small forward and power forward positions. James has won two NBA championships, four NBA Most Valuable Player Awards, two NBA Finals MVP Awards, two Olympic gold medals, an NBA scoring title, and the NBA Rookie of the Year Award. He has also been selected to 11 NBA All-Star teams, 11 All-NBA teams, and six All-Defensive teams, and is the Cavaliers’ all-time leading scorer.
He made $21.57 Million USD this season.
He is very rare, the work he does is very difficult and is very high in demand. If you want to be paid more you must look at what it is that you can do. How are you different from everyone else who does what you can do? But most importantly, where are the people who wish to use your services? How in demand are you?
There are millions of teachers, nurses and soldiers. It is difficult to stand out from the crowd in these areas. Even though the work they all do is very meaningful, they are all doing the work.
You have got to stand out from the crowd and sell yourself to the people who are looking to buy. That is the only way to increase your income.