What are you getting paid in?

By Austin @ 2024-07-17T19:23 (+89)

This is a linkpost to https://www.approachwithalacrity.com/what-are-you-getting-paid-in/

This is a crosspost, probably from LessWrong. Try viewing it there.

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Arturo Macias @ 2024-07-18T07:58 (+8)

You can pay people on ideology and community prestige, the sweetest currency. That is precisely what EA can issue, and for the most valuable professionals in our time.  

Joseph Lemien @ 2024-07-17T22:02 (+8)

This is somewhat parallel to an idea I read on Stack Exchange years ago. I don't always take notes on comments on internet forums and remember them years later, but some of them are good enough that I find it worth reminding myself from time to time, and this was one of them.

One of the most true things I've ever read is that every job pays you in two ways. It pays your bills, and it pays you in knowledge so you can hold a job later (even the same job after the market changes). If either of those stops, it's time to get a new job. And yes; I left my last job because there was no promotion path. In my case, they offered me the moon and a promotion path after I handed in my resignation, but it was too late--they'd been telling me the same thing for over a year, and I had no proof they'd actually follow up on it.

It came from a comment on this question, and was written by user62890. It isn't an exact parallel to the "cool" and "status" that Leila Clark is describing, but it is roughly similar enough that I thought I'd share.

SummaryBot @ 2024-07-18T14:28 (+1)

Executive summary: People are compensated for their work in various forms beyond just money, including intangibles like prestige, autonomy, and meaning, and choosing the right career involves understanding what mix of these "currencies" you most value.

Key points:

  1. Compensation comes in many forms beyond money, such as quality of life, status, impact, autonomy, and meaning.
  2. Different industries tend to pay more in certain currencies (e.g. finance in money, music in "coolness").
  3. Converting between these currencies is often difficult, so it's better to choose a career that naturally provides what you want.
  4. Managers can motivate teams by creatively offering various forms of non-monetary compensation.
  5. When evaluating job options, consider the full range of compensation beyond just salary.
  6. Reflect on what mix of compensation types you truly value to guide career decisions.

 

 

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