How much am I worth? I often ask myself that question.
I believe the answer is relative. At the highest end of the scale, we have very few people. Elon Musk, at the top of the list, is evaluated at roughly $200 billion. That’s $200,000,000,000. That’s 2 followed by 11 (!) zeros. His worth is greater than that of many countries. In 2020, he made almost $432 million per day.
In the middle of the scale, and so far below the top that it’s hard to grasp, is the median salary. The median salary in the UK stands at a little over £31,000 a year. That’s about $42,000.
Does Elon Musk really contribute (To the world? To society? To his Country? To his business?) 5 million times more than anyone making the median salary in the UK?
I can only deduct one’s worth has little to do with how much they contribute.
How much would our body cost if broken down into its basic materials? Someone did the math. It turns out the answer is just over $160. Clearly that doesn’t help us either.
So, what IS my worth? Well, it depends. The context in which I ask myself this question is usually my daily rate. In that context, my conclusion is you’re worth as much as someone is willing to pay for you. And, in my experience, there will always be someone willing to pay you what you believe you are worth. All you have to do is figure out your worth. Then, stick to that number. It may take some time, but you’ll find the company that will agree with you on that number.
I estimate my rate based on those of a similar role around me. I then add to it a rough estimate of my personal added value. Can I charge more than I do? Looking at some of my colleagues over the years – probably. I tend to increase my rate gradually over time, as I feel more comfortable with my current rate. I also know I am worth more to my clients with every passing day, as I keep learning and improving.
So what’s your worth? Unfortunately, I can’t figure it out for you. But I can suggest you spend the time figuring it out, and then stick to that number. Don’t settle for less than what you believe you are worth.