There are four factors commonly used by job seekers when choosing a job:

  1. Availability  How easy is it to get this job?
  2. Need         Does it meet my immediate needs?
  3. Fit              Does it fit my current skills?
  4. Like            Do I think/know I will like the job?

And these are fair considerations. Most of the time we are in such a need for a job that we do tend to accept opportunities without considering too many things.

The main reason any of us pursue a job is because we need money.

There are several things to consider when money is the issue:

1: How Much Free Money Do I Get With Each Pay Cheque?

Free money is the part of a pay cheque that is not committed to living expenses.

For example: You earn in the hand $500 a week and your food, rent, power, and so on equals $400 a week. This means you have $100 a week free money with which to do what you like.

2: Free Money Ratio (FMR)

The Free Money Ratio is calculated by:

Cash Earned divided by Free Money = FMR

Example ($500 cash) divided by ($100 Free Money) = $5

This means for every $5.00 you earn, you have $1.00 of free money

3: The Power Of A Dollar

For a 40 hour week, if your pay rate is $17.50 an hour, and you increase to $18.50 per hour; your actual yearly increase is $40 * 52 weeks = $2,800 (less tax).

It is important to know what every dollar increase actually means to you.

4: Inflation (Consumer Price Index)

Inflation erodes the value of your pay cheque.

If your wage is $30,000 p.a. and inflation in a year is 5%, then your paycheque has devalued by $30,000 * 5% = $1,500. So when considering your employment year by year, it is important that each year you get a pay rise that at least equals inflation or theoretically you are working for less.

5: Overtime

If you work overtime make sure you get paid for it at a different rate than standard.

We have little time available to us each week as it is. Do not let your job take over your life. Your family need you. If you are giving more than 40 hours then at least be paid a fair amount.

6: How Much Is A Vehicle Worth?

If you get a company vehicle and you can drive it home, it is worth quite a bit.

A vehicle can easily cost $1,000 a year to maintain on the road with insurances, taxes, wof, maintenance and so on so with a company vehicle (that you can drive home) you are saving this and it’s ‘Free Money’.

This is where the Free Money Ratio plays a part in calculations:

If it the vehicle saves us $1,000 in living costs, and our Free Money Ratio is 5, the vehicle is actually worth $5,000 of earnings.

You can also factor in savings of fuel costs of driving to and back from work.

7: Performance Bonus

Overseas, many companies have performance bonuses. It is worthwhile considering the value of these bonuses should you be offered a position with such a scheme.

8: Commission

Positions where sales are involved often provide a commission scheme.

These can be the best jobs for personal financial growth because your income is dependant on your skill and the opportunity that the company provides you with.

There are three types of Commission Program:

Retainer + Commission/Bonus

You are expected to make sales so you are provided a retainer in lieu of sales.

The retainer may be deducted off your commissions.

For example:

For 1 week, you are paid $500 retainer and you make $1,000 in commissions. The $500 retainer is deducted from the $1,000. You still end up with $1,000 pay.

Salary + Commission/Bonus

You get a fixed income + a commission on sales

Commission Only

You only earn a commission on what you sell. These positions tend to be the best paying but not always.


You must always take into consideration the costs of activity. For example; a commission position may require you to use your vehicle and pay for your own fuel.

Sales can be an emotional  rollercoaster where one week you don’t get paid but the second week you get paid lots.

In summary

It is very important to consider what you are trying to achieve with your career as it can change from year to year. Take every job opportunity and see where it could lead to.

Starting off cleaning toilets can lead to managing the cleaning company. Don’t be afraid of starting at the bottom. See what further education opportunities there are as you can always evolve.

Career in Sales

A sales career has a lot of scope and true skills that can be learned and perfected over time.

We will be expanding on this career choice shortly.