Wednesday, March 26, 2008

Don't exagerate your pay to others

Most young professionals are probably make the average starting salary relative to their field. Depending on the job, these individuals are probably making a modest means, receiving insurance, and participating in company retirement plans. Not a bad start for anyone from a personal finance perspective. However, a few individuals will claim to be making ridiculous amounts of money (probably somewhere above $100,000).

Even though there may be a highly remote possibility that these claims are true (Investment Banking analyst can be making this amount), the person is probably lying to you. However, what these exaggerating individuals fail to realize is that no one cares! Most of the time people are turned off by braggers and don't want to be included in their company. This just alienates a young professional from his or her most important network, their peers. Plus, it is difficult to compare jobs across fields. How can a finance person really brag to a non-profit working about how much he or she is making?

I would guess however that anyone grossly overstating his or her pay has self-esteem issues. By using compensation to brag to others, individuals are able to superficially raise themselves up. Don't fall into the trap of trying to make yourself look good. If you really want to talk to someone about work, discuss issues your having or interesting projects your working on. People will be more responsive, and it will allow them to relate to you more.

No comments: