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BOOK p.77 (regarding Slowlaners unable to get a raise)

Discussion in 'Education, Learning, Books' started by yogiahimsa, Feb 22, 2019.

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  1. yogiahimsa
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    yogiahimsa New Contributor

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    Hi folks (and #MJ),
    I have 2 questions about the following text in the Millionaire Fastlane:

    p.77 (Ch.11):
    As an employee, you can’t demand a pay raise greater than 10%, let alone 1,000%. Yet, as an employee of any company, this is your playing field. Your value is dictated and the job becomes a wealth delimiter with limitations that cannot be subverted.

    1....this is your playing field: Does it mean that "This is the situation you're trapped in"?
    2. The job becomes a wealth delimiter: ...(I am unable to interpret it).

    Can anyone help me with these two questions? Thanks!
     
  2. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Admin Post
    1) That's the game you're playing. Those are the rules.
    2) Wealth is limited, capped, stunted, restricted.
     
  3. RazorCut
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    RazorCut Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    This is my take on employment:

    The maximum you will get paid in a job is dependant on the value you bring plus the difficulty of replacing you. That's why surgeons earn more than cleaners.

    However, just because you bring lots of value to your company it doesn't mean that they will pay you the maximum available for that value, only what the current market conditions dictate. Again the easier it is to replace you the less you are worth.

    There will always be a ceiling to your earning unless you are on commission and even they they are still making the lions share of profit.

    I met someone yesterday who's company charges him out at £200 per hour (about $260). He doesn't get even 20% of that.
     
  4. Chapas
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    Chapas Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    I remember once working for a company where we had a really lucrative commission package. We would get 50 % of what we sold.

    Products ranging from 80 to 1500 USD. So we made good money. But like in every other slowlane environment we do not have control of things. After 5 or 6 months the management realized that why in the world should they pay 50 % in commission when they could get new good sales people for a much lower price. Needless to say that the commission quickly fell to around 10 %.

    The ones that were unhappy quickly got replaced by new sales people who were fine with the 10 %. Didn't take a long time before I quit as well. The company didn't care. We were all replaceable. If the new sales people would sell 2 or 3 times worse than the previous ones, the company would still earn more money due to the decrease in commission.

    They say starting a business is stressful. But oh boy, putting in a lot of work and seeing someone else rip 90 % of the benefits. THAT is truly stressful!
     
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  5. PizzaOnTheRoof
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    PizzaOnTheRoof 1% Better Every Day Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I wonder how that company is doing now?
     
  6. Roli
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    Roli Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Obviously MJ has given you the exact interpretation. When discussing this part I would also add, that your wealth is restricted and your 'game' set, because you cannot leverage your time. If you do a task in half the time your boss asks you to, you can't go home and start working on your own stuff.

    Also the extra tasks he gives you will not bring you any extra income, you work from 9-5 for a set income even if you are 100 times more efficient than the next most productive person in the company.
     
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  7. PizzaOnTheRoof
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    PizzaOnTheRoof 1% Better Every Day Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Which is why I hate hourly rates. I would take project based or fixed rate any day.

    Not only is there no reward for efficiency, but you’re effectively punished because you work less hours.
     

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