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Started By
Message
Only 2 factors dictate how much you make
Posted on 1/18/21 at 12:08 pm
Posted on 1/18/21 at 12:08 pm
How much you make is a combo of 2 simple factors.
1 - How much money you make someone else.
2 - How easy are you to replace.
Why does Drew Brees make more than a teacher? He has the perfect storm of both 1 & 2. He makes the Saints a ton of money and he is not easily replaced. Teachers, while they do a valuable job, do not directly make anyone money and there are thousands of new teachers who enter the workforce each year.
If you can be trained in a few hours/days or even weeks to do your job. You will never make much money unless you excel at that position and somehow make your employer a lot of money.
What you make is relative to every other profession and industry. Artificially sliding the money paid to someone doing entry-level unskilled work only causes the tide to re-level and hurts those who are not in the active workforce. (retirees living on a pool of money or structured retirement)
Rule #1 has some wiggle room if you are self employed, but it is the same rules. You are paid based on your unique ability and directly paid based on how much of your good/service you can hustle. If that good/service is easily replaceable, others will enter that market and you will make less.
1 - How much money you make someone else.
2 - How easy are you to replace.
Why does Drew Brees make more than a teacher? He has the perfect storm of both 1 & 2. He makes the Saints a ton of money and he is not easily replaced. Teachers, while they do a valuable job, do not directly make anyone money and there are thousands of new teachers who enter the workforce each year.
If you can be trained in a few hours/days or even weeks to do your job. You will never make much money unless you excel at that position and somehow make your employer a lot of money.
What you make is relative to every other profession and industry. Artificially sliding the money paid to someone doing entry-level unskilled work only causes the tide to re-level and hurts those who are not in the active workforce. (retirees living on a pool of money or structured retirement)
Rule #1 has some wiggle room if you are self employed, but it is the same rules. You are paid based on your unique ability and directly paid based on how much of your good/service you can hustle. If that good/service is easily replaceable, others will enter that market and you will make less.
Posted on 1/18/21 at 12:09 pm to RaginCajunz
quote:
1 - How much money you make someone else.
2 - How easy are you to replace.
And you were sooo close!
Posted on 1/18/21 at 12:10 pm to RaginCajunz
3 - your ability to market yourself based on number 1 and number 2
Posted on 1/18/21 at 12:11 pm to RaginCajunz
quote:
1 - How much money you make someone else.
I learned a different wording on this:
'How many people you make happy.'
Drew Brees is a great QB and makes tons of people happy.
The best player in the WNBA is a great BB player and whoever the hell she is makes about 10 people happy so she doesn't make much money.
Posted on 1/18/21 at 12:12 pm to Dawgfanman
quote:
3 - your ability to market yourself based on number 1 and number 2
I don't disagree, but that is really saying how well you take advantage of the two simple rules.
Lots of people are paid too much or too little. That has to do with their ability to realize the rules and take advantage of them.
Posted on 1/18/21 at 12:14 pm to RaginCajunz
Oh, boy. Queue the "Teachers are the specialist hardest working peoples ever!" responses.
Posted on 1/18/21 at 12:14 pm to Zach
quote:
1 - How much money you make someone else.
I learned a different wording on this:
'How many people you make happy.'
Drew Brees is a great QB and makes tons of people happy.
The best player in the WNBA is a great BB player and whoever the hell she is makes about 10 people happy so she doesn't make much money.
True. Those happy people have to pay money to someone though or else their happiness does not generate the income for you.
Posted on 1/18/21 at 12:15 pm to squid_hunt
quote:And as the son of a teacher in a large family of teachers, I love teachers. I think they are criminally underpaid. You cannot escape the rules though.
Oh, boy. Queue the "Teachers are the specialist hardest working peoples ever!" responses.
Posted on 1/18/21 at 12:16 pm to RaginCajunz
Thought I came to read:
1. Supply
2. Demand
It is basically what you said though.
1. Supply
2. Demand
It is basically what you said though.
Posted on 1/18/21 at 12:17 pm to RaginCajunz
Yea. Minimum wagers are easily replaced, and they will be replaced or let go. It amazes me that people can’t see the forest from the trees.
Posted on 1/18/21 at 12:18 pm to RaginCajunz
quote:
And as the son of a teacher in a large family of teachers, I love teachers. I think they are criminally underpaid. You cannot escape the rules though.
K-12 teachers are underpaid because it's a socialist system instead of capitalism. The best teacher you ever had made the same as the worst you ever had. It's all about equality due to Unions.
Colleges are different. The physics prof makes more than the Lit teacher because of free market supply and demand.
Posted on 1/18/21 at 12:19 pm to RaginCajunz
quote:
And as the son of a teacher in a large family of teachers, I love teachers. I think they are criminally underpaid.
I think they are probably overworked in a system that punishes innovators. However, they can look to their unions for why that is.
I also think the time to consider how much you're paid is before you go to school for years to attain a degree.
Posted on 1/18/21 at 12:20 pm to RaginCajunz
I thought it was my smile and how my tits look in a tight top.
Posted on 1/18/21 at 12:20 pm to RaginCajunz
quote:
And as the son of a teacher in a large family of teachers, I love teachers. I think they are criminally underpaid.
You must not be from the Northeast ...
Posted on 1/18/21 at 12:20 pm to RaginCajunz
quote:
Only 2 factors dictate how much you make
Supply/Demand
Posted on 1/18/21 at 12:22 pm to RaginCajunz
quote:
And as the son of a teacher in a large family of teachers, I love teachers. I think they are criminally underpaid. You cannot escape the rules though
Average teacher earns 61k. Sounds about right.
Posted on 1/18/21 at 12:25 pm to Nono
quote:
I thought it was my smile and how my tits look in a tight top.
Hired.
Posted on 1/18/21 at 12:25 pm to Dawgfanman
quote:That does sound about right then. I do think that is a bit higher than the regional average here, but I really do not know.
Average teacher earns 61k. Sounds about right.
Posted on 1/18/21 at 12:26 pm to Dawgfanman
quote:
Average teacher earns 61k. Sounds about right.
And don't forget to factor in 3 months off every year.
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