This theory could also be called the Paycheck Theory. Generally, in corporate America, one can count on a small raise each year, sometimes referred to as a cost of living raise. There are a couple of exceptions to this, of course. For example, Prison Media hasn't given raises to the little people in half a decade. Yes, it's true, even pre-Great Recession, the purse strings were bolted shut at the Prison. They called it a "temporary salary freeze" but I think it's about time to define the word "temporary" in this context. 'Cause temporary suddenly looks like forever.
But anyway, the theory is pretty basic. The corporation starts paying you enough to keep you there, but not enough to keep you happy. While it's true that money doesn't buy happiness, a big paycheck sure makes it a heck of a lot easier to "don't worry, be happy."
You start making enough money that if you left to pursue another job opportunity or a different career path, you'd most likely be facing a pay cut since you have a couple of years of seniority at your current job. This could also be a less is more theory. Example: Two years of less becomes more.
Then, there is also the fear of job loss, which is even more relevant in this crappy economy. What if you leave a job for a new job only to be laid off from the new job? If you had stayed at the old job, would you still be employed? These are real scenarios that I often ran through my head and I'm sure others do too.
It's no secret that the corporate landscape has changed forever during this economic downturn. And as a result of that, the employers have the upper hand and probably will for a very long time. Case in point: The number of jobs I see that want a college degree, experience and pay an astronomical $10/hour. It's absurd. But, it's also the new reality.
My new reality is pretty clear: I'm extremely blessed and lucky. I'm no longer trapped in a corporate job and my life is my own. And I have to keep reminding myself that I hated my job. It ruled my life and made me miserable. Someday, I might be able to thank Prison Media for doing me a favor. Just not quite yet!
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