Earners,

Remote work is lovely. Splendid even.

It could also be a huge anchor on your earning potential.

It Pays To Sit In Traffic

As much as I know we all CAN'T STAND commuting, there are several reasons why you should seriously reconsider how much you work from home.

In the past few years, workers in remote jobs generally earn more than those who work in the office, and get bigger raises as well. In my opinion, I think that’s more a function of higher-level white-collar workers being able to work remotely. That’s starting to change though.

If you're about that office life, your paycheck might be getting a nice kick. Companies in the US are putting up the money for in-person roles, offering an average salary of $82,037. That's a fat 40% jump from what these positions were paying in 2023 ($59,085), according to a study by ZipRecruiter (read more about it here). You can reasonably assume similar patterns can be found in Canada and other countries as well.

The pay for remote and hybrid jobs is a different story. As of March 2024, hybrid roles are averaging $59,992. In 2023, that figure was $54,034. And remote jobs? They're now paying $75,327, up from $69,107 in 2023. This again comes from ZipRecruiter’s research, based on job listings and survey responses from over 1,500 US adults who started new jobs in 2023.

Folks who traded their home offices for the real deal last year scored a 29.2% pay bump – nearly double the increase of those who went the other way round (15.8%). Those who switched from one remote gig to another? They saw a 22.1% bump in pay, while office-to-office switchers saw their paychecks go up by 23.2%.

This is why I talk about job hopping all the time - it’s how we are going to nurture and grow that sweet, sweet average annual earning increase. The numbers above support that, not only does it make sense to be nimble throughout your career and seek new opportunities, but making the trek downtown can make all the difference in your earnings right now. There’s more to it though. Something we all don’t love but know is a part of the corp grind…

You Need Facetime To Maximize Your Earnings

Deeper relationships lead to higher earnings. Period. End of story.

Since the 1970s, researchers have been exploring if networking actually increases earnings. Surprise, it does. “Relations with contacts in otherwise disconnected groups provide a competitive advantage in detecting and developing rewarding opportunities,” writes Chicago Booth’s Ronald S Burt along with University College London’s Martin Kilduff and Erasmus University’s Stefano Tesselli, in a 2013 paper. Many studies have shown this to be true, including a global study involving stock analysts, investment bankers, and managers, in which Burt demonstrated that the well-networked employees were paid more, were promoted more quickly, and were more likely to receive kudos (read more about it here).

Relationships are everything. You know that, I know that. How many damn times have you heard something about how crucial “networking” is in your career. The connotation around it has become almost a little gross - like it’s a slimy thing to “network”. Yes, there are the bottom feeders in corporate that are blatantly transactional at work, don’t hide their politicking and kiss the ring every chance they get. It can be a real turn off for people when I suggest networking dramatically increases your earnings because that’s where their head goes.

Where your head should go is someone like Angela. The badass product manager that’s always early to work, is delightful with everyone she bumps into, organizes next month’s charity auction, contributes to 2 different employee resource groups and always supports her team in person, in office. Most importantly, IN FRONT of her director.

Angela is a killer at her job. But it’s hard to see how wonderful of a person she is on a 30-minute zoom where every minute is dedicated to the issue/topic at hand. It’s hard to see how great a leader she could be someday, or how she can command a room filled with executives for a new product launch. There’s something absolutely magical about being in the presence of another human being. You can’t replace that. People see what you are made of. If you’re a real star (which all of you are if you’re reading this), you shine brighter when you have more opportunities to share that light.

Angela is getting facetime and isn’t being transactional. She’s building deep, valuable relationships. Angela is going to make a sh*t ton of money and edge out her competition in her next job, because she gets it.

If you are all about maximizing earnings, you should want to work in person. It gives you a much clearer path to building those relationships so your boss (and their bosses) can see your brilliance. People root for people they like; and they REALLY root for likable people that are wonderful at their job. I think about it like being an athlete. Do I want to send the scout my tape, or do I want the scout to come to my game and see me in action?

Playing The Game

I’d like to think I am an optimistic, positive person. But I have a realistic side too. I don’t try to tell the world what it should be; I operate in it as it is and try to make the most of it.

You can think that all of these corporate games are complete bullsh*t - and you’d have some validity. Maybe likability shouldn’t be a factor. Maybe how many extracurricular activities you do for the company shouldn’t get you the job over someone else. Maybe it should just be about the work. Meritocracy over everything.

I’m sorry, but that’s just not how the world works. You need to play the game. We are here to maximize earnings. You need to build relationships with key people to skip the line, get the promotion then get the referral to the new role to get that big ol’ 30% raise. In 2024, who you know still matters a whole hell of a lot.

You might agree with everything I said above, but not know where to start. If that’s the case, reply to this email with your question and I will try my best to give you a tailored recommendation! Also, I’m planning on doing an issue on specific tactics to implement to get ahead, so look out for that. Until then…

Earn more,

Nate