CAREER PROGRESSION VS SALARY: WHICH IS MORE IMPORTANT? (2024)

FAQs

CAREER PROGRESSION VS SALARY: WHICH IS MORE IMPORTANT? ›

Money is a short-term fix, but if you want a long-term career – choose progression. Choose a company that cares. If that's the company that offers a high salary – great! But sometimes it's not and that sacrifice is truly worth it.

Your job title will almost always impact how much money you make. However, as an indication of how important job titles are, many people would rather have a better title than a bigger salary. One study found that 70% of respondents would take a better job title over more money—up to $10,000 less!

Growth is important until you create a set of wanted skills. Once you have the skills, you will always be learning, but it's time to charge for them. Only going for money and ignoring the other topics will sooner or later burn you out. Important to remember that money is a great tool and a lousy master.

There is no universal answer to whether salary is more important than passion. Your decision should be based on your individual circ*mstances, values, and goals. It's important to strike a balance that aligns with your overall well-being and allows you to lead a fulfilling life.

The most important aspects of a job - by organisational role

Pay and benefits are only the fourth most important aspect of a job (46%) for survey respondents in leadership and senior management team (SMT) roles, after work-life balance (60%), job satisfaction (52%) and job security (51%).

Compensation is important, it says a lot about the job and the company. Employers that pay well are likely going to value their employees' time more than those that don't. Salary is only one part of compensation. For some positions it's not even the largest component.

Salaried employees get a set amount from their employers consistently. Every check is the same, even if there's a holiday. You can also use sick days if needed without having your paycheck reduced. A steady income can reduce stress and allows more flexibility when you have unexpected expenses.

Your reputation is the most precious thing you own in developing a career. You must be known for being a reliable, professional, and helpful individual.

A successful person is more likely to be a satisfied one! I'll rather have success because if you're successful at what you do money will chase you not the other way around. If you only focus on money then you'll forever chase the dollar.

Growth, meaning higher sales, more customers, is also real. Within reasonable, limits, growth is more important than profit. Profit is an accounting and tax concept. You can be profitable and run out of money, and you can be unprofitable and have cash in the bank and grow.

Is it better to love your job or make more money? ›

The meaning of life is having a good life

And not money. If you have a job that makes you happy and challenges you and that you think will continue to do so for years to come, then by all means stick with it. Because if your only drive is to make money, a day at work can feel very long very quickly.

With higher pay, you will have greater immediate purchasing power. On the other hand, better benefits may improve your lifestyle in ways that the additional purchasing power cannot compensate for. In the end, the main thing to consider is how important having more money in your paycheck is compared to other perks.

Using this data, which constituted over 1.7 million experience samples, Professor Killingsworth found that larger incomes “were robustly associated” with both greater happiness and greater life satisfaction. Further, there was no observed plateau in either happiness or life satisfaction at $75,000 or any other level.

Your salary is a fundamental consideration of your professional life. Negotiating your starting pay and asking for raises are critical factors in choosing what position to take and feeling valued at your job.

If you can get past that nagging, inborn sense that "going lower" can only be a sign of downward career mobility, the answer is yes. Taking a lesser position—downshifting, as it's sometimes known—can help move your career forward if the job fits into a larger long-term plan.

But, here's the thing: Brand names may grab attention, but job titles could seal the deal. They let the person reading your resume know exactly what you're capable of.

Job titles help identify a person's job role and create a brief description of that role and the career path to which it belongs.

“Well” and “paying” have grammatical relationships not just with the noun but with each other, too. And when you understand how these two words relate to each other, you can see why “well-paying” is indeed preferable to “good-paying.”