How important is the pay of the first job?

Alot of times, people talk about how first job doesn't matter or grades only matter for your first job. However, I feel like your first job sets the benchmark and the paygrade you're parked at. True or false?

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Colin Lim

23 Apr 2020

Financial Services Consultant at Colin Lim

To me true and false. your first job maybe unrelated to your second job?

secondly, your pay is base on market rate, certain jobs if u move to a new company...the pay will not be much difference to the new job.

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Elijah Lee

22 Apr 2020

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

I think it's true. Don't settle for being underpaid. At the very least, be paid a fair wage. There is opportunity cost involved and if you can earn a higher than average wage when you start your first job, then compounding will work in your favour. Imagine if you were underpaid by $1000/mth for a year while you were trying to find a higher paying job. That's $12000 you are losing out on (not forgetting compound impact on your CPF, etc). Over time, even $12000 can grow to be quite a substantial sum, or at the very least, it can help you build your rainy day funds faster.

Always aim to improve your human capital and worth, and constantly be in touch with your industry to know where you stand. If you feel you have the capability to command a higher salary, then ask for it at the next performance review or job interview.

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