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i got a promotion…

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…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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20 comments for “i got a promotion…”

  1. Congrats on the promotion Plonkee. I hate it that so much of it is lost to taxes and other government programs.

    Posted by Mr. ToughMoneyLove | October 3, 2008, 8:56 pm
  2. Congratulations, Plonkee! It sounds as though you have your priorities straight.

    If I did have a blog, I think I would be happy if any internet income was enough to cover the expenses of starting and maintaining the blog.

    Posted by Kate | October 3, 2008, 9:02 pm
  3. Phew Plonkee… but you got there!!!
    Promotion is a great thing but disappointing when it seems to evaporate before it get’s into your pocket.
    Great to see you’re still focusing on the best part of your financial equation which is income!!
    Too many people spend their lives in the allocation game and wake up wondering why their financial world is not moving forward. Get their salary one day, do all the mothly allocations to expenses the next day and then wait til next pay day to do it all again.
    If you want to have a look at a framework for thinking differently about how all this goes together have a look at our blog.
    Life is too short not to enjoy what you’re doing and way too many people are focused on making money rather than adding value to the people around them.
    Money is of course only a medium of exchange and in the end it gets exchanged on the basis of ADDED VALUE no matter whether you’re in a job or trying to do a business.
    I beleive that’s how income is increased… people adding value to those around them in the form of services or products

    Posted by Andee Sellman, One Sherpa | October 3, 2008, 9:09 pm
  4. @Mr, ToughMoneyLove:
    I’m not actually opposed to taxes, it’s more that £1k isn’t actually that much money. But it’s not what you make…

    Blogging is definitely a hobby for me. The fact that it covers some of my other (music) hobby expenses too is a bonus.

    Posted by plonkee | October 3, 2008, 9:40 pm
  5. Congratulations on the promotion!

    Posted by guinness416 | October 3, 2008, 11:26 pm
  6. Congrats on the promotion Plonkee!

    Posted by ABCs of Investing | October 3, 2008, 11:48 pm
  7. congrats! do you get to do more fun things? :)

    Posted by deepali | October 4, 2008, 12:31 am
  8. Congratulations on your promotion.

    I too believe that the path to wealth is in minimizing expenses, saving and investing the rest.

    Posted by Austin, TheOrangePaper.com Guy | October 4, 2008, 4:59 am
  9. @deepali:
    Pretty much. Although I’m not sure that most people would think they were fun. Data geeks like me have different tastes.

    Posted by plonkee | October 4, 2008, 1:12 pm
  10. Oh Plonkee I’m so happy for you! Well done!!

    p.s. I still have no understanding how on earth anyone makes money from blogs, I have over 1000 readers a day now and don’t think I’ll ever figure it out :)

    Posted by Frugal Trenches | October 4, 2008, 6:19 pm
  11. @Frugal Trenches:
    I ascribe it to the magic of the internets. It is, as far as I know, a secret money making machine, probably run by very clever mice.

    Posted by plonkee | October 4, 2008, 8:38 pm
  12. Gratz - better than a poke in the eye with a sharp stick

    Posted by Private Investment Blog | October 5, 2008, 6:52 am
  13. Hey thats a great news. congratulations. From your post it seems as if you have straighten up your goals. Great Work :)

    Posted by James | October 6, 2008, 11:33 am
  14. Way to go Plonkee!

    Posted by Maggie | October 7, 2008, 1:55 pm

    Posted by Pinyo | October 8, 2008, 8:58 pm
  16. Congrats on the promotion. And I agree - you will never get rich working for someone else. It’s always good to create a little equity in yourself. The reward is always better than creating it for someone else. :)

    Posted by Patrick | October 8, 2008, 8:59 pm
  17. Congrats on the promotion, it always sounds nice when you hear a figure then when you work it how much it is per month. It would be nice to make money for yourself.

    Posted by lucyp | October 9, 2008, 8:11 am
  18. Thanks everybody.

    Posted by plonkee | October 10, 2008, 8:47 am
  19. promotional items
    corporate gifts

    Posted by ban jonson | November 15, 2008, 11:14 am
  20. That’s well known that cash makes people autonomous. But what to do if someone does not have money? The one way only is to try to get the personal loans and just credit loan.

    Posted by DonaldsonCarole | February 27, 2010, 1:32 pm

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