Been to Pity City? A place to feel sorry for yourself and all your problems? I think we’ve all been there before.
At Financial Samurai, we accept our situation and Act to make things better. Complaining why life isn’t fair isn’t financial his samurai way.
We are all given different strengths and weaknesses. Some of us have serious obstacles that must be overcome. It is important how we make the most of our differences. We will always keep fighting!
That said, no one making millions of dollars has ever asked me to go to Pity City and suck it up. OK, maybe I have, but not the way his CEO of MillerKnoll told his employees on a video call.
Don’t live in a pathetic city, beggar employee!
Hear for yourself as she answers employee questions about how to stay motivated when they aren’t getting their bonuses.
“Don’t ask me what I would do if I didn’t get my bonus, get me $26 million! Please! Okay?! Can I get a commitment for that? I really appreciate it.” says Andy Owen.
She continues: Guys, get out of Pity City and get it done! thank you. have a great day. “
Wow! When employees are depressed, the last thing they want to do is piss them.
Making millions of dollars a year could easily leave the pathetic city
I understand Owen’s message about moving deals forward and closing deals, especially in challenging environments. It’s hard to manage people, let alone an entire company!
But it’s disturbing to see how easily she gets upset about underpaid employees asking about their compensation. .
If you’ve ever wondered why it’s so hard to ask for a raise, here’s the answer! Asking for a raise in person is even harder. However, the best time to do so and set expectations is during a formal review.
Andy Owen Received a bonus of $1.29 million in 2022 and $1.12 million in 2021. Her total earnings for 2022 surpassed her $5 million. If she gets her 7-figure bonus in addition to her in 2023, I think most of her employees will look for her a new job.
Had Andi Owen taken a $0 bonus and cut her salary, her cry to employees to work harder and care less about their compensation would have been better received. But MillerKnolls CEOs are among the top 0.1% earners, making millions of dollars a year.
Oh, I just found out that Andy Owen is a William & Mary alumnus. sorry! Most of the graduates of this wonderful public institution that I have met are very humble.
Employers don’t care about you as much as you think
The only way public company CEOs can earn millions in salaries and millions in bonuses is if their companies do well. And the main way companies work well is for their employees to be productive.
Therefore, managers take care that their employees perform at the highest level. Asking for a raise hurts short-term profitability and therefore management compensation.
Yes, there are team-building events and rallying calls to motivate employees. The sooner you do it, the better the results.
Most bosses keep their disdain for their employees a secret. Don’t think they’re talking about layoff plans, productivity plans, and a distaste for people who quietly quit behind closed doors.
your work shouldn’t be your life
In this age of fierce competition, day-to-day tasks are increasingly A place for trading, not for spiritual growthYour day job is primarily about making money, so you have more options to do what you want.
The possibility of making friends and feeling purposeful in your daily work are side benefits. If you receive them, great. But don’t expect them.
Conversely, your boss is there to get as much productivity out of you as possible to make as much money as possible.
Do you think the executives who bankrupted Silicon Valley Bank are voluntarily giving up their multi-million dollar bonuses earned in 2022? They fight to keep all coverage in spite of causing financial hardships for their employees.
Employees must think more like managers. Everyone’s main goal is to make as much money as possible when working in a for-profit company.
Employees must continuously fight for rewards
It would be too simplistic to think that doing a good job will get you a paycheck or a promotion. Meritocracy is on the decline and office politics is on the rise. To get the rewards you deserve, you need to consistently sell yourself internally, just as you market yourself externally.
After every review, you should highlight your accomplishments and the value you provided to the company. Then come up with an agreed-upon path to promotion by a certain date, in which certain amounts will be paid if various goals are met.
A written plan is essential to hold managers accountable.
Employees are as good as the value they can bring to your company. If that value falls below compensation levels, employees face the risk of layoffs.
Negotiating severance pay is a must
Today, it is very rare for an employee to stay with one company for life and receive a pension upon retirement. The average person changes jobs every 3-5 years. And every time they change jobs, they’re given the chance to negotiate their retirement benefits.
Given the transactional nature of work, the nature of exit negotiations means that the departing employee provides value in return for receiving retirement benefits.
This value can be in the form of cost savings, training of replacements, not going to competitors, and/or not disclosing trade secrets. Write an article for a major publication that exposes all of the shady things going on in the company.
As the recent mass layoffs over email at big tech companies have shown, no A lot of sympathy for laying off an employee. It’s hard to fire people given the emotional component involved. The more an employee can help with the layoff process, the more likely the retirement package will be improved.
Don’t get too emotionally attached to your work.
People who tell me, “Sam, but I couldn’t have negotiated my dismissal for doing that to my employer,” are people too weak to fight for pay and promotions. is overlooked for those who do.
As soon as you quit your job, you are replaced. Old bosses and colleagues forget all about you.
Cognitive dissonance is real among the wealthy and powerful
As I wrote in the past, no matter how rich you get, you never feel rich because other people have more. I work hard for my money, so I tell myself I’m not rich.
Endless comparisons with other households create this constant anxiety that is hard to quell. Even if you’re making hundreds of thousands of dollars a year, you may not feel like you’re earning enough.
This is an interesting study that highlights the gap between real and perceived income in the United States. A 2022 study found that 19% of the U.S. population is believed to earn more than her $500,000, which is the top 1% of earnings.
accept the reality of work
We want all of our employees to fight for the best pay possible. That way, you have a better chance of achieving financial freedom sooner. Otherwise, you may end up working longer than you need to and getting tired.
The reality is, no one cares more about your finances than you. Loyalty is a good trait. But loyalty is also two-way. If your CEO makes a ton of money while paying you peanuts and talking condescendingly, you have to leave!
Stop spending the best decades of your life working for organizations you take for granted. If so, you will look back with regret.
Reader Questions and Suggestions
How often do you visit Pity City? What do you do once you get there and how long does it take to leave? Have you ever gotten stuck on wages? Is company loyalty dead?
Read the latest edition of and learn how to quit your job and make money How to design layoffsWe will teach you how to negotiate your retirement benefits so you have the financial headroom to do what you really want to do. Use promo code ‘keep‘ saves you $10.
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