What are you worth?

Posted by Marcellas Flenory, Sr. on Jan 11, 2018 in Updates | 0 comments

What are you worth? by Marcellas Flenory Sr., MBA Have you ever asked yourself or someone else asked you, what are you worth? Many employers ask, “What is your MINIMUM Salary Requirement?” This is the question you must ask yourself, “what am I worth?” NOTE: Employers pay based on position value to the company, not based on employee value. They may use a salary or pay range, if they have a compensation plan in place, to determine what they would offer you based on your Knowledge, Skills, Abilities, and Years of Experience (doing the job) above the minimum salary or pay rate within the range. So, what are you worth? How do you determine the price (cost plus markup) of your time. I learned that the one thing you cannot buy back is time. I have added to that by saying, “Money may be able to buy you many things in life but it cannot buy you back time. So stop wasting it and invest it wisely.” ~ Marcellas Flenory Sr., MBA JK Flenory & Company LLC’s formula for determining your worth or value: 1. Determine your cost such as Monthly Bills, Taxes, and what is left as Disposable Income (clothes, travel, vacation, restaurants, college education, savings, etc). You never want to take a job and not able to meet your basic needs, unless you plan to get more than one job. You do not want to be worried about paying your bills and taxes, while you should be focusing on doing a great job. So, this is your foundation. The deeper you go, the higher the building you may build. NOTE: I will discuss that in a different blog. 2. What is your markup? Many people do not think there time is valuable because they have never determined the price or cost (sacrifice) for being the best them. When you devalue your time, allowing you and people to waste your time, you have discounted your time. J Paul Getty (Billionaire) said, “The #1 guideline to success is you must be in business for yourself. When you work for someone else, you sell your time at wholesale to your employer, who then re-sells it...