This is a great framing of different career currencies... Like the old board game! One aspect of the money currency that I like to think about is "paid for time" vs "paid for performance". If your job doesn't have some variable component based on performance, you are an hourly worker, no matter how much per hour you make. Great corporate lawyers can make thousands per hour, but the only way they will increase their income is by working more hours. To me, sensitive about my finite lifespan, this seems suboptimal.
That's why I've always gravitated towards jobs that have some variable/performance based component. Sales is the most obvious - you get a base salary and a range of performance kickers depending on how much you sell. Crushing your quota means much higher income returned for your efforts.
Startup jobs with equity stakes are excellent ways for people of all disciplines to get non-linear returns on energy/skills/lifespan. There are other examples, especially in finance. Maybe fold this aspect into your presentation as you are reviewing option grants with your new employees?
This is a great framing of different career currencies... Like the old board game! One aspect of the money currency that I like to think about is "paid for time" vs "paid for performance". If your job doesn't have some variable component based on performance, you are an hourly worker, no matter how much per hour you make. Great corporate lawyers can make thousands per hour, but the only way they will increase their income is by working more hours. To me, sensitive about my finite lifespan, this seems suboptimal.
That's why I've always gravitated towards jobs that have some variable/performance based component. Sales is the most obvious - you get a base salary and a range of performance kickers depending on how much you sell. Crushing your quota means much higher income returned for your efforts.
Startup jobs with equity stakes are excellent ways for people of all disciplines to get non-linear returns on energy/skills/lifespan. There are other examples, especially in finance. Maybe fold this aspect into your presentation as you are reviewing option grants with your new employees?
Thanks for the thoughtful essay.
I enjoyed your discussion of this on Complex Systems.
Very true! I want to know more about the unpublished book!