Mapgirl Inc.
My boss always tells me, “You are yourself incorporated.”
He reminds me to evaluate a job offer for fair remuneration for myself as a company offering services to the job market. I urge all of you to do the same.
If you were to look at yourself as a company what are your operating expenses? Where could you trim the fat (figuratively and literally!)? How can you increase your revenue? How are you selling yourself? Can you charge more for your services to increase your income? What product do you have to offer?
I cannot stress it enough that taking stock of yourself, looking at your personal finance bottom line, your P&L, Income Statement and Balance Statement is important to your personal valuation.
I have a secret. I used to work in accounting as an accounts receivable clerk. I took Accounting 101 at night school on top of my undergrad degree in geography. (Now does my nickname make sense?) I’m tossing out these terms, but they aren’t so hard to understand.
Ask yourself, what do you want to make? Is You Inc. being remunerated properly? Do you have room to advance?
I’m not saying that making more money is the answer to all personal finance problems, curbing your spending is. But to get yourself more room in your budget and save more for the future, increasing your income is good. Ask yourself what you think you are worth and go out there and get it!
Dave wrote:
Very good post, everyone should consider applications and offers in this way.
I think it is very important for people to evaluate the whole picture rather than just a “job title” or the “yearly salary”. If you have to travel 100m to work or have to spend 2 hours preparing at home it might not be as good an offer as you think.
Posted on 25-Apr-06 at 12:17 pm | Permalink
LAMoneyguy wrote:
Great points. On your last thought there, I would argue that income is every bit as important as curbing expenses. Most financial planning books, articles, etc. don’t address the income side of the picture because it is an entirely different type of discussion. It is simpler to assume that readers’ incomes are fixed and to plan around it.
I know that personally, I need to work on my cash flow statement. Income statement and balance shee are okay, but sometimes I put myself in a tight cash situation. However, sometimes it’s intentionally.
Posted on 25-Apr-06 at 1:53 pm | Permalink
Debt Hater wrote:
You’re absolutely right! It’s something I want to sit down and do, but always find an excuse to procrastinate. Good post. I’ll stop being lazy about it!
Posted on 25-Apr-06 at 9:19 pm | Permalink
Mapgirl’s Fiscal Challenge / The Story of My Raise wrote:
[…] 1) Know what you are worth. I was shocked to find that my peers and I agreed on what I was worth. Salary.com kids. I can’t plug them enough. […]
Posted on 12-Jan-07 at 3:43 pm | Permalink
Mapgirl’s Fiscal Challenge / How to get a raise wrote:
[…] I can make another 20% easily by switching firms in a year and half. I love double digit raises! Anyone who sticks with a company that isn’t compensating them well should reconsider why they work for their firm. Go back and read Mapgirl, Inc. […]
Posted on 21-Feb-07 at 11:59 pm | Permalink
Mapgirl’s Fiscal Challenge / Category vs Archives wrote:
[…] Please enjoy the Books category for book reviews. (A new one will be posted soon!) Articles I Like: for articles I have plucked from other sites and bloggers, but mostly other bloggers. Personal Memory: if you want to get to know me better. DIY: you are inclined to make things. Plus it’s one of my favorite categories. Emergency Fund: if you want to see my Save-O-Meter progress and thoughts on the subject. Emergency Preparedness: if you want to know what to do in an emergency or how to protect yourself. Frozen Dinners: for Frozen Dinner Reviews (or search my blog for ‘FDR’, because not all were tagged yet) Jobs or Employment: These include some of my best posts like Mapgirl, Inc. […]
Posted on 22-Feb-07 at 12:55 am | Permalink