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Only 2 factors dictate how much you make

Posted on 1/18/21 at 12:08 pm
Posted by RaginCajunz
Member since Mar 2009
5310 posts
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.



Posted by Penrod
Member since Jan 2011
39093 posts
Posted on 1/18/21 at 12:09 pm to
quote:

1 - How much money you make someone else.
2 - How easy are you to replace.

And you were sooo close!
Posted by AmishSamurai
Member since Feb 2020
2658 posts
Posted on 1/18/21 at 12:10 pm to

Posted by Dawgfanman
Member since Jun 2015
22206 posts
Posted on 1/18/21 at 12:10 pm to
3 - your ability to market yourself based on number 1 and number 2

Posted by Zach
Gizmonic Institute
Member since May 2005
112406 posts
Posted on 1/18/21 at 12:11 pm to
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 by RaginCajunz
Member since Mar 2009
5310 posts
Posted on 1/18/21 at 12:12 pm to
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 by squid_hunt
Baton Rouge
Member since Jan 2021
11272 posts
Posted on 1/18/21 at 12:14 pm to
Oh, boy. Queue the "Teachers are the specialist hardest working peoples ever!" responses.
Posted by RaginCajunz
Member since Mar 2009
5310 posts
Posted on 1/18/21 at 12:14 pm to
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 by RaginCajunz
Member since Mar 2009
5310 posts
Posted on 1/18/21 at 12:15 pm to
quote:

Oh, boy. Queue the "Teachers are the specialist hardest working peoples ever!" responses.

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.
Posted by NineLineBind
LA....no, the other one
Member since May 2020
6875 posts
Posted on 1/18/21 at 12:16 pm to
Thought I came to read:
1. Supply
2. Demand

It is basically what you said though.
Posted by xxTIMMYxx
Member since Aug 2019
17562 posts
Posted on 1/18/21 at 12:17 pm to
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 by Zach
Gizmonic Institute
Member since May 2005
112406 posts
Posted on 1/18/21 at 12:18 pm to
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 by squid_hunt
Baton Rouge
Member since Jan 2021
11272 posts
Posted on 1/18/21 at 12:19 pm to
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 by Nono
Member since Nov 2017
4820 posts
Posted on 1/18/21 at 12:20 pm to
I thought it was my smile and how my tits look in a tight top.
Posted by AmishSamurai
Member since Feb 2020
2658 posts
Posted on 1/18/21 at 12:20 pm to
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 by KCT
Psalm 23:5
Member since Feb 2010
38911 posts
Posted on 1/18/21 at 12:20 pm to
quote:

Only 2 factors dictate how much you make



Supply/Demand
Posted by Dawgfanman
Member since Jun 2015
22206 posts
Posted on 1/18/21 at 12:22 pm to
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 by squid_hunt
Baton Rouge
Member since Jan 2021
11272 posts
Posted on 1/18/21 at 12:25 pm to
quote:

I thought it was my smile and how my tits look in a tight top.


Hired.
Posted by RaginCajunz
Member since Mar 2009
5310 posts
Posted on 1/18/21 at 12:25 pm to
quote:

Average teacher earns 61k. Sounds about right.
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.
Posted by squid_hunt
Baton Rouge
Member since Jan 2021
11272 posts
Posted on 1/18/21 at 12:26 pm to
quote:

Average teacher earns 61k. Sounds about right.


And don't forget to factor in 3 months off every year.
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