Episode 24: Getting paid what you are worth: Earning = Training Period + Skill + Demand
These three simple factors determine how the market pays. The time needed to train for a position (or conversely the time it takes the employer to train someone else for your position after he fires you). The employee’s skill and performance level. The market demand for the product or service that the employee provides.
In a free market that’s how earning compensation is determined. If you’re not being paid what you desire. Then change one or more of the three factors in the equation. Once you’re hitting on all cylinders, offer yourself to the marketplace. An employer that recognizes value will hire you- not because he’s fair, but because it’s in his own self-interest to do so.
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