Measure of success in your career - Age normalized pay metric
Monday, August 5, 2013
3:00 PM
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1 Comment
Labels: career , comparison , development , evaluation , metric , self development , where you are
Labels: career , comparison , development , evaluation , metric , self development , where you are
* Designations vary across companies so we cannot use those. Same with grades.
* Paychecks by themselves vary with cadre industries and grade. So you may not be able to use paychecks to compare the growth with others.
I think a fair metric to find out how you are doing with your career would be the metric:
Age normalized pay (ANP) = (Current $ annual paycheck) / (Age)
Units: $/yr
This simple metric should tell you how you are doing. So irrespective of the age, industry, group, designation of a particular employee you can find out how you are doing. The requirement of converting everything to US$ removes the discrepancy in earnings across different countries. You could use any currency but they have to the same when doing the comparison.
The higher this metric the better you are doing.
E.g.
An employee earning 120K at the age of 35 has the metric at 3.42K/yr. On the other hand a much younger employee in the same group, possibly at the same grade earning 97K at the age of 27 is much better poised in his career since his ANP comes to approximately 3.6K/yr.
* Paychecks by themselves vary with cadre industries and grade. So you may not be able to use paychecks to compare the growth with others.
I think a fair metric to find out how you are doing with your career would be the metric:
Age normalized pay (ANP) = (Current $ annual paycheck) / (Age)
Units: $/yr
This simple metric should tell you how you are doing. So irrespective of the age, industry, group, designation of a particular employee you can find out how you are doing. The requirement of converting everything to US$ removes the discrepancy in earnings across different countries. You could use any currency but they have to the same when doing the comparison.
The higher this metric the better you are doing.
E.g.
An employee earning 120K at the age of 35 has the metric at 3.42K/yr. On the other hand a much younger employee in the same group, possibly at the same grade earning 97K at the age of 27 is much better poised in his career since his ANP comes to approximately 3.6K/yr.
This is a great metric for career growth!!