Cafe Classic: What Does the World Reward?

Editor's Note:  A Classic rewind of my take - having raised a couple of young (now young-ish) adults and had opportunity for a LOT of one-on-one conversations with people about their pay - on this question.  I'd love to hear yours, too.

I had the opportunity to speak with a group of college students (not HR majors) recently about compensation.  Sometimes there's no better way to get clarity about what you practice and believe in your profession than to have somebody completely outside of it quiz you.  I thought I'd share a couple of highlights from our conversation -- the questions and my responses -- presented here for commentary and reaction from my fellow reward and HR professionals.

Our session kicked off with a great starting question, and flowed from there.

First Question:  What does the world reward?

My response - The world rewards work that the people of the world need done, according to the relationship between:

-The demand for a skill or contribution, and

-The available supply of people who are able and willing to provide that skill or contribution.

Follow Up Question:  What does this mean for someone in the process of choosing a career?

 

It means that there is a fundamental tension in the relationship between work and pay, as illustrated in the image below.  To understand this tension, it can help to consider the extremes.  At one extreme, you have work and interests that are important to you, regardless of whether the world particularly needs or values them.  At the other extreme, you have work and interests that are needed and valued by the world, regardless of whether they are important to you. 

 

We often hear the phrase: Follow your passion and the money will come.  Maybe or maybe not.  What if my passion is making the world a more beautiful place through creating oil paintings of Yorkshire Terriers?  This might mean a lot to me, and reflect my values and interests, but if the world decides it doesn't want or need to buy many of my dog paintings, no matter how fabulous they are, it isn't likely that I will earn much.  That is reality.

And maybe I'm OK with that, living my life on the "small dollar" end of the work-pay continuum. Maybe I'm happy living in a smaller home and spending my vacations camping up north -- as long as I have my little painting studio and the chance to do work that holds meaning for me.

But if I'm not OK with that, if I've always dreamed of driving an expensive car and traveling the world, then maybe I'd better look a little more closely at the kinds of skills and capabilities that are in demand in today's world, and for which the world is willing to reward me.  Maybe I need to move myself toward the other end of the work-pay continuum by adding a second major in software engineering to my first major in canine artistry, which would allow me to pursue higher paying work while churning out my Yorkie oils as a side hobby.

I don't mean to suggest that this is a zero sum game.  It certainly doesn't have to be. The point here is about understanding the trade-offs that come along with different career choices and the need for each of us to find our own personal "sweet spot" along the work-pay continuum, guided by our own aspirations, values and gifts.

We spent a lot of time - the group of students and me - talking about this continuum and the tension between work and pay choices.  Perhaps there is a helpful parallel to this that would support conversations with employees about career and professional development choices, and the relationship between those choices and pay.  (I know I've had a few conversations with people who want to be paid like the engineers or technology specialists in their companies, but don't want to do that work, where we've ended up in somewhat similar territory...)

Your thoughts?

Ann Bares is the Founder and Editor of Compensation Café,  Author of Compensation Force and Managing Partner of Altura Consulting Group LLC, where she provides compensation consulting and survey administration services to a wide range of client organizations.  She earned her M.B.A. at Northwestern University’s Kellogg School and enjoys reading in her spare time. Follow her on Twitter at @annbares.

Creative Commons image "Blue Marble (Planet Earth) by woodleywonderworks

Comments

[E. James (Jim) Brennan]

You are quite correct, Ann, about the fundamental reality that compensation varies according to the value the employer places on the role you play. This is true in every economic and political system, even in those cultures where the reward priorities seem odd to us.

Simultaneously but separately, people usually demonstrate their greatest competence doing what they enjoy doing the most. Ideal, if you can match both commercial vocation and personal avocation. Unfortunately, most societies place very little value in playing video games because it is a simple skill virtually anyone can master. (Sure ...)

Bottom line: find your strengths and build on them. What commercial applications exist for your talents, interests and likes? Any good counselor or even a standard vocational preference test will show the way.

No one ever prospered by following careers that contradicted their KSAs nor have many gone far wrong doing work that fills their life with joy. Many, however, end up only working for living wages while living for the unpaid activities of their off-work life time. The spend most of their waking hours doing unsatisfying work, and that's a waste.

Also beware of over-obsession with pay ... I've seen too many people follow short-term monetary priorities to the exclusion of all else until they find themselves so highly paid for work they hate that they can't afford to "go backwards" and earn less doing enjoyable work. Keep your options open!

[Ann Bares]

Great advice, Jim - thanks for sharing it here!