Why You Want to Make the Big Bucks

Plenty of money in Dallas. And such a great skyline too. Too bad I could only capture little pieces of it in any of my very amateur pictures.

Happy Friday! This is the follow up post to Wednesday’s. In that one, I talked about the downsides to having a high paying job. Today, I’m going to end the week on a positive note by talking about the opposite. It may seem a little ridiculous to write a post about reasons someone would want a high paying job. But I’m going to try to stay away from the obvious and go into the aspects someone who hasn’t had the experience might not think of. Let’s get this going.

  • You will face huge challenges that will force you to grow in ways you may never have otherwise.

I’m talking about great big, existential challenges here. As in how do I make something happen over an extended period of time that my employer claims to want (and bases my pay and continued employment on) but seems to do everything in its power to prevent from happening? This may sound like a negative, and on its face, it is. But nothing worth having comes easily. In this case, you’re stepping up to face some things that have the potential to break you, and often will come close to doing just that. However, if you’re up to the challenge, you will come away with something far better than money. In my mind, there is no greater reward than going into every subsequent life experience being able to look back at the incredible things you’ve been able to accomplish against the odds and knowing that there is very little on this planet that can stop you when you’re at your best.

  • You will learn how to deal with people more effectively than you ever would have thought possible.

We’ve all met those difficult people in life. You know, the ones that make you wish you never had to interact with them in any way. The ones who have you thinking “his poor wife!” The higher you rise in your career, the more difficult personalities you’re going to encounter. The upper echelons, at least in the business world, are mostly populated by people who were just too stubborn of assholes to allow anyone to stop them from getting there. The egos are enormous and manipulation, bullying, threatening, belittling, etc are all everyday tactics. These are people who don’t have to worry about HR since they often own their own companies or are the most powerful people in them if they don’t. Avoiding these people is not an option. And neither is failing to get results while dealing with them. For a while, you will hate it. Then, one day, you will wake up and realize that there is almost nothing left in this world that can intimidate you. The hotter the fire, the tougher the resulting metal that was forged in it.

  • You will make tons of powerful friends.

When I started out in my career, networking was always a dirty word in my mind. This was mostly because I knew very few people who could do anything for me, which made it feel like all I could do was beg for help. Not a fun feeling. But once you’re in the club of people who eat, sleep, and breathe work, most of your interactions are with people who control all kinds of different decisions – both within your company and in others. Just like in any other job, you naturally make friends, and enemies, in the process of your day to day activities. And suddenly, networking is easy.

  • You, yourself, will become powerful.

Most of us spent at least the first several years of our careers feeling trapped in dead end situations. In my case, no matter how hard I worked, it didn’t seem like it made any difference. But over time, if you’re highly capable and you work hard, it does. And one day, probably sooner than you would have expected, you find yourself in a position where almost everything you do makes a difference. And while that comes with a ton of risk and responsibility, it’s also a pretty nice feeling at times to look at a situation and realize that you made it happen through sheer force of will.

  • You will enjoy yourself at work – at least some of the time.

One of the reasons I ultimately decided not to go to law school is that law is an incredibly competitive industry where about half the people simply don’t make it and eighty hour work weeks are pretty much the norm. At the time, I couldn’t fathom working that much or that hard. But fast forward less than a decade and here I am working in the incredibly competitive finance industry, where a high percentage of people don’t make it and I’m basically working most of the time I’m awake. If you’re not already in it, that may sound like a nightmare. It certainly did to me. But somewhere along the line, I think I realized that I could either have a mediocre, unsatisfying career or I could put everything I had into a good one. Sometimes people manage to find that sweet spot in between the two, but those situations are pretty rare and typically don’t last. Our economy is just too competitive now and where there is inefficiency, it will usually be discovered and destroyed – one way or another. Going “all in” is the only option I found that allowed me to truly make an impact. And in that way, I feel I gained something rather than lost it. Instead of spending forty hours a week doing something that feels pointless and barely pays the bills, I’m spending significantly more hours than that, but I’m doing meaningful work and the bills are not a concern at all. Of course, that last part also has a lot to do with keeping lifestyle inflation in check. Don’t ever forget that you can outspend any income.

  • When you become valuable to a company, the way it spends money on and around you changes.

I still remember when I was booking my first flight in my current job. I was talking to my then new boss about a couple of possible options. One was cheaper than the other, but involved a layover. “Don’t forget the value of your time,” he told me. And it’s true. If you think about what the company pays me in a typical hour, it doesn’t make sense for me to spend a significant part of my day sitting at some airport in Detroit or some other God forsaken hellhole because the airfare was a hundred bucks cheaper. And it doesn’t stop there. Customers need to be entertained and the only rule I was ever given was to “use your judgment.” Lunches, dinners, football games, golf outings, etc are regular parts of my working life now. My recent college graduate self wouldn’t have believed the expense reports I routinely turn in today. Obviously, I do try to keep things within reason. After all, we’re running a business. But even with the company and the industry going through a very difficult time, no one has suggested cutting these kinds of expenses. They understand that if that needs to happen, we may as well just close the doors because if we don’t make our customers feel great about doing business with us, someone else will.

I think that in a lot of areas of life, you really do get what you put in. A high paying job is definitely not for everyone, because you will have no choice but to make it your top priority in everything you do. I went into that and several other drawbacks in Wednesday’s post because I think it is very important to understand the reality of what you’re getting into. But if you’re willing to pay the very high cost, a high paying job will at least give you a lot back in return. I don’t know how long I will dedicate my life to working this way. But the good news is that as time goes on, because of the work I’ve already done and the way I’ve managed my money, I should have an ever widening range of options available to me. Have a wonderful weekend!

2 thoughts on “Why You Want to Make the Big Bucks”

  1. I couldn’t agree more on the positives. And as you said the powerful circle of powerful and useful people you form is extremely valuable. My cell is full of the private numbers of CEO’s, governors, senators, judges and billionaires who are favorably disposed to helping me out should I ask. I wouldn’t have those relationships if I had not had the high pay/high profile job.

    Like

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