Monday, April 15, 2013

Perspective on income from salaried folks? : Personal Finance

markobutler wrote:Based on the replies, I'm getting the sense that people don't really have a plan for growing their income X% over Y years. It's more "do a good job, get noticed, let it happen."

DH and I are both high school teachers. We both started teaching in our 30's after other 'careers'. I started in bookkeeping/accounting related office jobs and took a nice light job (waitressing) when I went back to school (for no real goal other than to 'finish my degree'). I ended up in restaurant management for a few years. DH was in the art world in commissioned sales. We opted to teach for a lot of reasons, but stability of income and (relatively) steady income growth was another. Neither of us has aspirations of becoming administrators. If we were interested in growing our income in education, that's what we'd do.

We both have additional income of different sorts over and above our salaries. Mine is pretty obvious. His: he coaches aquatics at school and was also coaching for a club water polo program. He's recently decided that was a bit much and isn't doing that any more. For us, the other 'windfall' we can fall back on (sometimes) if we want/need it is teaching summer school.

But no, I've never thought in the 'growing their income X% over Y years' terms at all. And I don't think in terms of do a good job and get noticed. I had plenty of jobs where I did that. Some I got noticed while I was there and it was lucrative. More often than not though, I got noticed when I left and they had to hire two people to replace me (happened two or three times).

We opted for predictability, and good benefits over REAL growth.

When we see people who are still in the art business, they're at both ends of the spectrum. Some have done REALLY well. Some...not. I'm very happy with our choices.

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