I believe no one’s worked out the mathematical formula that directly linked those longer term activities, like education and training, to wealth. Other than to go by what everyone says, which is education leads to better pay. The truth feels like the reverse, because when you graduate everyone is holding a degree and everyone is ‘just another cookie cutter’ candidate. Though here I say, learning by experience or taking a course, takes the same amount of time to figure something out. The difference between those who make it and those who quit, is if you have an idea about your future that works ‘out there’ among all the other dreams on the ‘freeway’.
Let’s say, the wealth you make from working comes directly from your pay and benefits offered by a company. How much you make off that situation depends on the size of the company. Bigger companies offer either more pay or more benefits, like Starbucks offers part-timers college tuition. In some companies they only offer that to junior executives to get even more educated. The cost to you is the time you give to your company. And the same formula applies if you are self employed.
• Work wealth = (pay & benefits) X (company size) – (time spent with the company)
That is where most people stop. So where’s education? ‘Education and training’ has to do with time. It makes time more valuable, the more of ‘education and training’ you have built up.
• Your worth = (time spent with the company) * (education & training)
Nowadays however, there is a lot of discussion about ‘teamwork’. And the proverbial ‘rat race’, which is real enough out there, that causes companies to focus intently on creating a ‘nicer’ culture. What undermines team work is what they call ‘politics and power’ which is really about getting credit. And what credit looks like, as a mathematical formula is this..
• Credit = (life-time profit to the company / number of team members)
The entire formula, that connects everything to wealth in work goes as so..
• Work Wealth = (pay & benefits) X (company size) – ((time spent with the company) * (education & training) x (life-time profit to the company / number of team members))
• Work Wealth = (pay & benefits) X (company size) – (your worth x credit)
If you figure that you might work for a smaller company, even though you might be a valuable ‘player’ it is because you will be getting lots of credit back for helping them succeed. That is a type of ‘payment’ you accept for your own plans. If you spend 4 years in school, after high-school, what you learn might be the same as 4 years of working, except that some work they don’t accept high-school students. But after you finish, the people who go the distance are the ones who keep on advancing their education and training past that first four year period. The formula also explains our resentment with nepotism, a person who gets a great job with big pay and benefits yet lack the average ‘worth’ for someone usually in that role – they earn disproportionate more than their ‘expense’ to the company. It’s a ‘givme’ job. Because what you are worth is an expense to the company, not a profit.
By discussing team work and improving it, the company is hoping that the team can increase the ‘life time profit of the company’ such as in creating a new product that is a hit. The millions the company earns off it justifies giving you and your team more ‘credit’ by raising your worth in terms of salary. Though your worth is still an expense, it has created big profits for the company. Yet still, as the case of contract negotiations in the news, owners might downplay a ‘player’s worth and their credit.
And that is how the work score works. Here is a tip, the quickest decision is an ‘out right no’ and at least you didn’t hear it right away but you still have to keep moving. Mike Davidson, VP Twitter, says ‘A drawn-out dance of interviews over the course of six months resulted in an offer to move..My wife and I had never considered leaving Seattle before..’ https://mikeindustries.com/blog/about-me