How I pay myself at my new job

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Yakimix,  Escario Cebu 

Hi guys! I’ve missed blogging but I was creatively challenged these past few weeks. As an update, I officially started  my new job and now settling in to my spanking new four-corner office. We apparently have the option to furnish our offices as we see fit, i.e. add couches, tables etc., at our own expense of course, as this is the public sector.

After jumping through many hoops and passing the screening process, I was pleased to be offered the job. I happily accepted as this job paid wayyy better than any of the in-house counsel positions I’ve been offered. I’ve previously written how the private sector pay isn’t as good as widely perceived, despite its perceived glamor.

I will speak in generalities to retain my anonymity. The position is similar to my previous one but requires heavier accountability. It’s writing and research-intensive with a little bit of litigation thrown in. It requires the exercise of discretion on my part and that in itself, is a heavy responsibility. In sharp contrast to the in-house counsel positions, this heavier responsibility is offset by a heavy bump in pay and has better and reasonable working hours.

The downside to government employment is the delay in salary. I anticipate a six-month delay in the payment of my initial salary. In the meantime I plan to pay myself a reduced salary out of my cash funds. It pays to have a husband to subsidize my costs too.. But that’s a last resort for me.

The plan is to pay myself half of my previous salary. Considering that I have an average saving rate of 50%, that amount should suffice to cover my living costs. We shall see how this experiment goes in the months ahead!

Have you tried paying yourself due to a delay in initial salary?

George

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9 thoughts on “How I pay myself at my new job

  1. Hi George,

    I currently work at a BPO and I’m thinking of getting a degree in law. I’m pretty young, so I have lots of time to switch careers. My only problem is – will it really be as financially rewarding as everyone makes it out to be?

    I’m trying to find out how much lawyers really make these days. But on the internet, there’s a huge discrepancy between the two, when I search “lawyer average salary” and “how much to hire a lawyer”. Apparently hiring a lawyer costs upwards of 30,000 php per case BUT when I search how much a lawyer’s salary is, I just get less than 30,000 a month?

    I really don’t think 30,000 a month is correct? That was for fresh grad lawyers.

    Sorry, I’m really ignorant about this – of course there are different types of lawyers and you make more as your experience grows.

    I just really want to know, and I can’t seem to find this anywhere, is how much a lawyer really makes, on average. Is it really worth it?

    Like

    1. To add to this, I really think I’m missing the whole picture and/or looking at unreliable sources. I mean, to compare, I googled doctors’s salary in the Philippines and they said it’s 25k? That’s definitely wrong when an operation costs hundreds of thousands???

      Sorry, I just want a clearer picture – if you represent someone in a case, and say you get paid 500 an hour, how much of that goes to you and how much to the firm you work for?

      Thanks so much! You don’t have to answer me if you don’t want to 🙂

      Liked by 1 person

      1. Hi Julia, I made a related post on the ROI of becoming a lawyer. I cannot give you a definite number as lawyers’ pay varies depending on field of practice, experience, compensation structure. should you wish to learn specifics, I suggest searching lawyer positions on jobstreet (or any job search site) input your years of experience, your area and you’ll see the offers there. It’s a really big decision for you whether to go to law school or not, it’s good that you’re arming yourself with information before jumping in.

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  2. Nung first few months ko dito sa states, di rin ako binayaran for 4 months dahil “non-working” yung visa ko. It took ‘forever’ for my lawyer to acquire the necessary working permits on my behalf. When I got impatient, I sent her a fax message short of telling her that I’m about to starve to death. But I accidentally left the message on the machine. The next day, our big boss saw the message and volunteered to lend me money to pay for my apartment and maybe groceries. Of course, I was only bluffing– I did have the resources at the time, so I declined the offer. His kind heart left a good impression on me that I end up working for him for a very long time.

    Liked by 1 person

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