Salary Bump vs. Experiences

Someone questioned which are you more interested in, a professional experience or a salary bump? Which would you like now?

Having been unemployed and entrepreneur know about being flat broke. There are times in your career where a salary and a bump can really make a difference in your life. Having enough to pay for the basics and save is absolutely essential. Life without enough is absolutely stress filled.

One concern is the lack of savings and retirement savings. Too many do not have emergency funds and tap retirement funds at great penalty. This will cost your future, and delay your ability to retire.

Too many do not put anywhere near enough into 401Ks, and there is no 100% secure way to turn savings into income. The post pension generation will have issues that the Traditional generation will not feel with their pensions.

For your career experiences (even at a low pay) do pay off in the long run. You need to have experience to move up. Classes alone do not match experience.

For a contrasting thought, Jeffrey J. Fox wrote “Always take the higher money. The more you are paid, the more responsibility and opportunities will be given to you.” In addition he points out all raises are based on percentage of your salary, so a higher starting salary benefits you over your career. See “How to Become CEO”.

We need to manage both our careers and budgets with long term planning. The reasons I live well within my means is to have flexibility to explore options when they arise.