plonkee money an english-er's thoughts on personal finance

October 3, 2008

i got a promotion…

Filed under: education and career — Tags: , , , , — plonkee @ 8:29 pm

…but it’s not going to make me rich.

In my company promotions at the staff level happen exactly twice a year. 1st April and 1st October. They arrive in little white envelopes usually hand delivered by team leaders. When Wednesday came and went and no one asked for a quick word, I assumed that I’d missed out again, fell into a deep gloom, and vowed to polish up my cv on the weekend.

It got even worse on Thursday when I thought that I might have to go on secondment into another company, away from my most interesting project and all the fun things that I get to do at work.

However, on Friday when I came into the office, I caught one of our team leaders finishing off signing all the promotion / pay rise letters (graduates have 2 salary reviews a year rather than 1, and we have a lot of graduates). As you can probably guess by the title of this post, I did indeed get a promotion.

The company I work for doesn’t go in to job titles in a big way, and my letter stated that I don’t have a new title. That doesn’t matter at all to me. What I do get is a pay rise of £1000. Which is nice. But of course, after pension contribution, tax, national insurance and student loan is taken out, it’ll leave me with an extra £50 a month.

Now, I worked pretty hard for this promotion. I’ve managed to take on new responsibilities, do even better at some of the things I was doing, become more of a respected expert internally and taken moves towards external recognition. This has been great, but knackering.

On the other hand it has meant that whilst I love this blog, I haven’t been able to devote as much time to it as I’d like. I think that’s ok – I’m not posting as frequently, but I’m writing stuff that I think is good quality and interesting. People read it and make comments, which I still think is the most brilliant-est thing ever. Mostly because I have the best commentators.

As you can tell from the sidebars I have a few adverts. Funnily enough, despite the slight reduction in time that I’ve been able to give, my advertising revenue is up by about £50 a month compared to six months ago too. From understanding some of the amazing things that others are doing online, I know that if I devoted the energy I’ve put into work, into optimising advertising here, or starting new, more commercial websites, I could be effectively giving myself a payrise of a lot more than £50 a month. Probably more in the region of £500 a month.

All those people who say that being a good employee and getting on in someone else’s company is a very slow route to getting rich are absolutely right. Earning money on the side with your own business is a much better way of getting more income, and perhaps having only a slow (rather than very slow) route to getting rich.

Although I am planning on spending as much time as possible working on plonkee money, I’m not intending to focus on the income side of it any more than I do now. I write for fun and pleasure first and foremost. I’m not going to jack in my job to try and become an internet millionaire, because I truly enjoy what I do for a day job. But I am going to bear in mind that the path to wealth is not in getting promoted. It’s in maximising income, minimising expenses, and saving and investing the rest.

By the way, I’m still going to be polishing up my cv. You should regularly review it anyway, you never know when it might come in handy.

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