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Anonymous

26 Jul 2019

Random

Anyone has any tips as to not compare salaries with other people?

I am 27 this year, a diploma grad earning $3.4k and have always been contented. This year, my friends have been comparing salaries and they earn more than me (they have a degree and are in different industries). I look at my cousins and they are young and successful, working as a wealth manager and making big bucks. This is a terrible feeling to have, and I honestly want to be rid of it :'( Sometimes I feel like I'm lacking, inferior and insufficient. Any advice?

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Jefremy Juari

26 Jul 2019

Financial Writer at Medina Books

What i would say is use those feelings of insecurity and be proactive learning how to make more. Different industries have different pay scales, e.g. For Oil and Gas technicians is between 60k and 80k but has a age limit of 45. Mariners can get anywhere between 30k to 150k. Bankers upwards of 40k, but their career is limited to market performance.
Don't worry yourself about how much is the value of your time for money. Invest in yourself so that your money is turned into assets that can give you an income, then it is something to brag about, but by then you won't want people to know. Humility is security. Have faith in what you do.

Comparing salary is not necessarily a bad thing as it allows you to know if you are fairly compensated for your role.

In your situation, I believe that you can take concrete steps to be on par. Research on the job you dream to have and how much salary it will command and you can take courses/part time degrees to upgrade yourself to reach that goal.

Otherwise, if you are just happy where you are working now but unhappy that others make more than you, then it's simply envy. Don't let that destroy you. Your self worth is not determined by the paycheck.

One word: Unfriend. I assume these are fair weather friends, if they see a need to compare salaries....

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