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49 votes
Accepted

Are there any downsides to having a bigger salary rather than a bonus?

There is no downside for you but there is for the company. If the company has a bad year, it can stop your bonus but it can't reduce your salary (or at least that is much harder to do). When is the ...
minou's user avatar
  • 7,536
20 votes

What to spend money on after getting first good job?

Assuming that you don't have credit card debt or student loans, then the things to focus on are: Life happens fund to handle an unexpected bill like an emergency car repair. Emergency fund. Three to ...
mhoran_psprep's user avatar
11 votes

What to spend money on after getting first good job?

Compound interest is an amazing thing. Putting $2000/year into your retirement fund for your first 10 years of employment can actually do more good for you than putting $2000/year into the retirement ...
keshlam's user avatar
  • 48.3k
9 votes

What to spend money on after getting first good job?

Your Health When you are used to living on a low income, it is very easy to skip regular doctor visits for eye exams, dental, vaccines, etc. It's also tempting to buy cheap food that happens to be ...
Lawnmower Man's user avatar
8 votes

Are there any downsides to having a bigger salary rather than a bonus?

When I was working, my wife and I were both in sales, and our total income averaged about 140% of our "salary". For purposes of a mortgage, banks looked at a 3 year average. Imagine if our ...
JTP - Apologise to Monica's user avatar
6 votes
Accepted

Calculating salary loss from inflation

Now if the pay rise is nil, that would effectively be considered a pay cut, as far as currency value is concerned, correct? Correct. Expenses go up at an exponential rate, but your salary stays the ...
RonJohn's user avatar
  • 50.7k
5 votes

What to spend money on after getting first good job?

Maintaining a low-cost lifestyle can make a huge difference over the long haul. Many people increase their spending as their income increases and end up ill-prepared for retirement and/or experience ...
Hart CO's user avatar
  • 70.5k
4 votes

What to spend money on after getting first good job?

A very wise man told me once “if you have money in the bank, that’s an excellent place for your money to be”. I saved up some generous amount of money, then invested the money in a nice flat. Which ...
gnasher729's user avatar
  • 23.3k
4 votes

Are there any downsides to having a bigger salary rather than a bonus?

The downside is primarily that the company won't be willing to give you as much money in salary raise as it will in bonus. Salary raises are cumulative, first off; so if you get a Cost of Living raise ...
Joe's user avatar
  • 35.8k
4 votes
Accepted

Compensating underpaid colleague out of my own pocket - we're both contractors

For you to "compensate Alice for her work" seems like the wrong framing. She is working for the corporation, not for you or your sole proprietorship. You are acting on a generous impulse to help your ...
nanoman's user avatar
  • 30.2k
4 votes
Accepted

How to stop promotions from filling new "necessary" expenses

How do I stop salary promotions from being filled up with new expenses? You just do? There is nothing in the world that overrides your decisions, whether smart and stupid. So, if you geta promotion ...
TomTom's user avatar
  • 11.5k
3 votes

Compensating underpaid colleague out of my own pocket - we're both contractors

The least complicated way would be just to hand Alice some cash, with full agreement on both sides that is simply a gift between friends with no strings or expectations attached. Now on to the ...
spuck's user avatar
  • 853
2 votes
Accepted

How do I change my mindset/morality to be more aggressive towards earning money?

Your work (as in what you do in a job) is simply a service that you provide to that company so I will refer to it as such below. Your problem is that you are valuing things by how much they cost and ...
MD-Tech's user avatar
  • 9,023
2 votes

How much would be reasonable to ask for a salary increase?

What is my best approach here to ask for an increase and what is a reasonable number? Your best approach would be to gather a list of everything you contribute of value that is greater than what ...
Michael's user avatar
  • 10.2k
2 votes

Economic growth over a period of time

Earlier people used to earn X amount as salary and from that they could buy Y no.of items. Over a period of time salary increases to 3X but they could still buy only Y no.of items.Does this indicate ...
glglgl's user avatar
  • 5,415
1 vote

What to spend money on after getting first good job?

I'm also a software engineer who had your exact situation when I graduated (and then again when I got a huge raise by switching jobs). Everyone else has covered the "boring" things so let me ...
JMekker's user avatar
  • 111
1 vote

What to spend money on after getting first good job?

As several others have said, saving your money now will pay off significantly in the future. You have a modest lifestyle now, so you don't need to spend all the money you're taking in. But down the ...
Barmar's user avatar
  • 1,995
1 vote

Price adjustment in 4-6 year contract

With USD inflation, 2-3% per year is typical. In a high-tech field, salaries and software costs often increase by more than that, perhaps 5-15% per year. If you are exporting Latin American services ...
Orange Coast- reinstate Monica's user avatar
1 vote

Are there any downsides to having a bigger salary rather than a bonus?

With the same total value, there is one downside for you to increasing your salary in place of part of a bonus: you get the extra salary spread out over the next year, instead of getting all of it ...
Douglas's user avatar
  • 401
1 vote

How much would be reasonable to ask for a salary increase?

I would go with the approach of your "market value" - how much are others willing to pay you? I can totally understand that you feel it is unfair - but in my experience using the argument that ...
ssn's user avatar
  • 1,466
1 vote

How much would be reasonable to ask for a salary increase?

I hate to compare myself to others but at the same time I take pride of what I do. You can take pride without comparing yourself to others. The difference between me and the highest new hire is ...
Joe Strazzere's user avatar

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