Quote:
Originally Posted by lacedWithKerosene
I've never agreed with the idea that someone's "skill set" is objectively "worth" a certain amount. It seems like a Communist idea.
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Really? How much will you pay for someone to mow your lawn? My guess is you will take a few quotes and base the decision based on their experience and quality of service (skills). Once you know someone will do the work for $50-60 per yard, then you will be hard pressed to pay more unless you get more in return for the extra money you spend.
It doesn't mean the guy mowing the lawn is worth less. He's a human and regardless of paycheck status, his worth is considerable. But the free market did determine what his skill set was worth. Now if he expands his skill set or does something different than he can increase that worth.
On the flip side, if he is the only guy in town that cuts grass then he has more leverage to increase his worth because of lack of competition. Then you have to make a decision to mow your own grass or pay him to do it. If he's a mafia style grass artist, he will lock up supply on all lawn machines so he takes away your option to self-perform the task and further increases his leverage and ability to increase his worth.
So yes, to increase our value to others we have to continue to grow. The medical field is a great example. Pretty much, your pay will be determined by your level of education and consequently the acronyms that follow your name.
MD/DO > PA/NP > RN > LPN > MA
Granted within those generic titles there is some flexibility depending on your years of experience, fit, specialty, etc. but generally speaking you will never jump "classes" in your salary wages. In other businesses, this isn't always true -- but it remains true the more skills you have and how you uniquely apply them will give you more value.