This is Why Your Boss is Getting Paid More

Summary

• I've learned that in many jobs, the visible tasks like meetings and talking to people are just as important as direct execution. Understanding this is key to advancing your career.

• Before I started my own companies, I was focused on executing tasks efficiently. But I realized that management is more about guiding and training others to execute well, which is why managers often get paid more.

• To succeed in sales, it's crucial to master persuasion. But to advance as a sales manager, I had to learn to train a team to excel in persuasion, not just be good at it myself.

• The first level of skill development is learning to do tasks yourself. The next level is learning to help others do those tasks well, which is a valuable skill in the marketplace.

• If you're working long hours and feel undervalued compared to your manager, consider that compensation is often tied to the complexity and rarity of your skills, not just the hours worked.

Video

How To Take Action

I would suggest implementing the lesson that not all valuable work is hands-on. If you manage a team or aspire to, focus on honing your skills in guiding and training others. Practice holding small, regular meetings where you not only discuss tasks but also coach your team on better execution. This shows leadership and can increase your value.

A good way of doing this is to start observing what your manager does in meetings and how they communicate. Notice how they guide discussions or decisions. Try adopting similar tactics in your own interactions to improve your management style.

If you're in sales or any field requiring persuasion, remember that it's not just about doing well yourself; it's about teaching others to excel too. Start small by mentoring a peer or team member, helping them improve their persuasion techniques. This builds leadership skills and increases your market value.

For personal growth, recognize that skills related to communication and leadership can set you apart. Dedicate time each week to improving these skills, either through books, online courses, or podcasts. It’s a low-cost, high-value investment in yourself.

Lastly, understand that compensation often ties to skill complexity, not just hours worked. Focus on developing scarce and valuable skills. Identify one or two skills that could elevate your role and seek ways to develop them, even if it means taking on new responsibilities or projects. This proactive approach can lead to personal and professional advancement.