Does a high salary matter?

There is a bit of a stigma in the UK surrounding salaries, and generally people think that they need to earn a high salary. Have you ever stepped back and wondered why this is though?

In my personal opinion, a lot of this is to do with ego, and personal status. By no means is this a bad thing, I used to want to focus on a huge salary when I was younger and thought that I should go into investment banking because the salaries were disgustingly high.

However, a high salary is a status of wealth and importance, but it will only impress people for five minutes before they move onto something else.

Personally, I am on a really good salary for my age. Don’t get me wrong, I have worked hard for this and continue to keep this growing over time. Whilst this is a perk, I find that other benefits that I receive from work hold just as much value.

These include flexible working hours, the ability to work from home, and them paying for my studies and exams.

So what is more important than a high salary?

I would honestly say that doing a job that you enjoy is far more valuable than any salary. Unfortunately, we live in a world where “fun jobs” are very limited and typically don’t pay well. This is problematic because our bills stay the same whether we are doing a high-paying, awful job or a low-paying, amazing job.

The phrase “Do what you love, and you will never work a day in your life” holds significant truth to it because you will be spending most of your life doing an enjoyable set of tasks. However, you don’t have to love your job for it to be beneficial.

If you dread every single day you spend at work, and live for the weekends, then maybe it is time to consider whether it is what you should be doing. I am well aware not everyone is in a privilege position where they can change jobs without worry, but living a life of misery in return for a salary is not good for your mental health.

If I had the option over a high salary in a job I despised, and a much lower salary doing something I loved then I would choose the second option all day long. 

One thing that we should consider, as well, is that just because you move to a lower salary does not mean you will be worse off financially. It is all about taking control of your finances and acting appropriately.

For example, if you were on a high-paying salary but spent over a quarter of your take-home pay on stuff you don’t need just so that you can live the life that matches your status, then you could take a 25% pay-cut and still be exactly the same in your financial situation.

The message I am trying to get across here is that you should really consider whether you are happy within your current job role.

If you are not happy, please consider a move for your own sake. Life is too short to spend decades working a job you hate.