Comments on: How to Give Yourself a Raise http://www.getrichslowly.org/blog/2006/08/11/how-to-give-yourself-a-raise/ Common sense advice on money saving tips, how to get out of debt, high interest savings accounts, cd rates, money market accounts, mortgage rates, money management and more. Sun, 19 May 2013 04:12:18 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: AllFinancialMatters » Blog Archive » How to… Personal Finance Edition http://www.getrichslowly.org/blog/2006/08/11/how-to-give-yourself-a-raise/comment-page-1/#comment-7549 AllFinancialMatters » Blog Archive » How to… Personal Finance Edition Tue, 12 Sep 2006 17:48:49 +0000 http://www.getrichslowly.org/blog/2006/08/11/how-to-give-yourself-a-25-raise/#comment-7549 [...] Give Yourself a Raise [...]

[...] Give Yourself a Raise [...]

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]]> By: Get Rich Slowly » Laboring on Labor Day Weekend http://www.getrichslowly.org/blog/2006/08/11/how-to-give-yourself-a-raise/comment-page-1/#comment-6825 Get Rich Slowly » Laboring on Labor Day Weekend Sun, 03 Sep 2006 15:25:26 +0000 http://www.getrichslowly.org/blog/2006/08/11/how-to-give-yourself-a-25-raise/#comment-6825 [...] Aug. 11th: How to give yourself a raise (a guest entry) [...]

[...] Aug. 11th: How to give yourself a raise (a guest entry) [...]

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]]> By: VinTek http://www.getrichslowly.org/blog/2006/08/11/how-to-give-yourself-a-raise/comment-page-1/#comment-5410 VinTek Fri, 11 Aug 2006 17:47:17 +0000 http://www.getrichslowly.org/blog/2006/08/11/how-to-give-yourself-a-25-raise/#comment-5410 It's very interesting that mapgirl would state that "benefits by companies are a scam" because "rarely do employees actually take advantage of it!!!" From that logic, I suppose 401(k) plans are a scam too, since the majority of employees don't take advantage of them. The reality is: a benefit is a benefit. The fact that people are too dumb to take advantage of a benefit doesn't make it a scam. It only underscores the fact that people are too dumb to take advantage of benefits. It’s very interesting that mapgirl would state that “benefits by companies are a scam” because “rarely do employees actually take advantage of it!!!”

From that logic, I suppose 401(k) plans are a scam too, since the majority of employees don’t take advantage of them.

The reality is: a benefit is a benefit. The fact that people are too dumb to take advantage of a benefit doesn’t make it a scam. It only underscores the fact that people are too dumb to take advantage of benefits.

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]]> By: Sally Parrott Ashbrook http://www.getrichslowly.org/blog/2006/08/11/how-to-give-yourself-a-raise/comment-page-1/#comment-5403 Sally Parrott Ashbrook Fri, 11 Aug 2006 16:09:34 +0000 http://www.getrichslowly.org/blog/2006/08/11/how-to-give-yourself-a-25-raise/#comment-5403 Good thoughts. Very interesting. Good thoughts. Very interesting.

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]]> By: mapgirl http://www.getrichslowly.org/blog/2006/08/11/how-to-give-yourself-a-raise/comment-page-1/#comment-5402 mapgirl Fri, 11 Aug 2006 15:41:47 +0000 http://www.getrichslowly.org/blog/2006/08/11/how-to-give-yourself-a-25-raise/#comment-5402 Benefits by companies are a scam because the company offers the benefit and rarely do employees actually take advantage of it!!! If you work for a company with benefits, look at all of them and see where you can leverage your opportunities. Great post! Benefits by companies are a scam because the company offers the benefit and rarely do employees actually take advantage of it!!!

If you work for a company with benefits, look at all of them and see where you can leverage your opportunities.

Great post!

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]]> By: Rovdjur http://www.getrichslowly.org/blog/2006/08/11/how-to-give-yourself-a-raise/comment-page-1/#comment-5401 Rovdjur Fri, 11 Aug 2006 15:40:32 +0000 http://www.getrichslowly.org/blog/2006/08/11/how-to-give-yourself-a-25-raise/#comment-5401 Your post has inaccuracies and is very misleading. This statement, "The average salary for someone with an MBA was $375,780," is flat out false. Those values are cumulative LIFETIME earnings increases compared to invidviduals holding comparative bachelor's degrees. From the MSNBC article : "What I was looking for was the “present value” of the increase in future income that could be expected with various educations." "The remaining tables show the present value of the increase in income compared to a bachelor’s degree holder." Your post has inaccuracies and is very misleading. This statement, “The average salary for someone with an MBA was $375,780,” is flat out false.

Those values are cumulative LIFETIME earnings increases compared to invidviduals holding comparative bachelor’s degrees.

From the MSNBC article :

“What I was looking for was the “present value” of the increase in future income that could be expected with various educations.”

“The remaining tables show the present value of the increase in income compared to a bachelor’s degree holder.”

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]]> By: Spoonman http://www.getrichslowly.org/blog/2006/08/11/how-to-give-yourself-a-raise/comment-page-1/#comment-5398 Spoonman Fri, 11 Aug 2006 14:12:11 +0000 http://www.getrichslowly.org/blog/2006/08/11/how-to-give-yourself-a-25-raise/#comment-5398 It's all in the math. I have spent the last couple of years working hard to eliminate my debt, and have avoided (stupidly, I admit) adding funds to my 401k. REALLY stupid, especially when you do the math: My company matches 50% up to the first 6% of contribution. That means my pre-tax contribution is $300. Since it's pre-tax, it's like I'm only putting about $150 of after-tax money into the account. On top of that, my company is also putting $150/month into my account. So, for my $150/month, I'm socking away $450! That's HUGE! But, when you look at it abstractly by concentrating on percentages it's not immediately obvious. "Oh, 6%, big whoop!", I used to say. But, it's not. With matching, I'm contributing almost 10% of my income without really losing that much debt-pounding power. It’s all in the math. I have spent the last couple of years working hard to eliminate my debt, and have avoided (stupidly, I admit) adding funds to my 401k. REALLY stupid, especially when you do the math:

My company matches 50% up to the first 6% of contribution. That means my pre-tax contribution is $300. Since it’s pre-tax, it’s like I’m only putting about $150 of after-tax money into the account. On top of that, my company is also putting $150/month into my account. So, for my $150/month, I’m socking away $450!

That’s HUGE! But, when you look at it abstractly by concentrating on percentages it’s not immediately obvious. “Oh, 6%, big whoop!”, I used to say. But, it’s not. With matching, I’m contributing almost 10% of my income without really losing that much debt-pounding power.

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