Salary Caps

So upon awakening today I give Facebook a quick check before arising to officially start my day and I see a friend post about how one of the individuals they know thinks there should be a cap on how much a working person can earn. The second I saw that I knew I had a BLOG topic. Just to be clear I mostly agree with said persons thoughts. Before you decided to try and shout me down please be sure to read all of my BLOG so you can make an informed opinion.

There should be a clearly defined salary cap for jobs for a variety of reasons. Just so that an employee has an idea of where their potential total earnings can equal out to is a great for starters. Said employee may be happy with hitting their salary cap and can make a comfortable living when they hit that point. I know exactly what my salary cap is and have figured out that I can live comfortably off of that for the rest of my working career.

However, I will not be happy once I reach said cap level. I believe that if I continue to work hard and meet/surpass the standards and goals set out before me that I should be rewarded with a raise each year. With that being said though I also understand that putting caps on certain job levels or positions makes sense in order to motivate the employee. Yes, employers are literally saying that this is what we think this positions yearly max worth is.

It is at this point that if you as an employee want to earn more, you will need to figure out a way to advance yourself. In most instances it will be through a combination of additional hard work at your job and through education/additional training. That way you can say to your boss, “Hey, I’ve been working hard and added some tools to my bag of tricks. I would like to talk about getting a promotion.” Both of which I have been doing and am on track for a promotion/job change of sorts.

Let’s be honest here though. I know that salary capping is also a money saving tool for any employer. Most companies don’t want to shell out any more cash to their employees than they have to. Again though, this should be a motivating factor to figure out how to advance one’s self either up through the ranks or taking your experience somewhere else for better pay.