Thursday, January 25, 2007

Experience vs Income

What is more valuable, the experience you gather from working in a particular position or the compensation for the work you create?

Let's first isolate each variable, in order to distinguish there contents. First, you have experience, which combines the communication and technical skills, along with the cognitive and business skills that you gather while "experiencing" your job. As you gain more and more experience, your resume becomes more distinguishable and expanded. Experience is how you distinguish yourself from the competition, when interviewing and while moving up the corporate hierarchy. I consider noteworthy experience to be success on a major project that has direct business impact on your company. Other experience is more day-to-day work that can be summarized in a few sentences. Since this experience is what differentiates you and markets you to various audiences or employers, it is the major factor in granting you a high salary. Compensation is the capital you acquire from experience and accomplishments. The more experience, success and major projects that you are involved with, the more compensation you will obtain.

Conclusion: An increase in experience will yield an increase in job compensation.

What this means to you: Focus on gaining experience first and let your high salary follow!