Career Development
Your career is your largest financial asset. A 40-year career earning $75k/year = $3M lifetime earnings. A 10% improvement compounds to hundreds of thousands.
Yet most people spend more time researching their next phone than their next career move.
The Income Equation
Income = Skills × Leverage × Market
- Skills: What you can do that others value
- Leverage: How many people your work affects
- Market: Demand for your skills in your location/industry
Optimize all three. Most people only think about skills.
The Career Levers
Job hopping beats loyalty. Workers who change jobs earn 10-20% more than those who stay [@linkedin2022]. Loyalty is rarely rewarded proportionally. If you’re underpaid after 2 years, leave.
Skills compound. 5 hours/week of skill development = 260 hours/year. Over a decade, that’s the equivalent of a master’s degree worth of focused learning.
Network is net worth. Most jobs come through connections, not applications. If you’re not making 2+ new professional connections per quarter, you’re falling behind.
Negotiate once, benefit forever. A $5k raise at 25 compounds to $50k+ over your career. Most people don’t negotiate because it’s uncomfortable. That discomfort costs them a house.
What To Do
Stagnant? Job hop. The market values you more fairly than your current employer.
Stable? Seek stretch projects. Become the expert in something valuable.
Early career? Invest in high-demand skills. Research ROI before any education spend.
Mid-career? Leverage expertise. Consult, teach, or move into management.
The Annual Career Audit
Every year, ask:
- Did my income increase faster than inflation?
- Did I learn skills that increased my market value?
- Is my network stronger than last year?
- Am I closer to work I find meaningful?
If any answer is no, something needs to change.
Your career is a 40-year project. Treat it like one.