Wallet Voyeur Matt Wasowski

We generally believe that salary and prestige go hand-in-hand. Usually, the more a job pays, the more prestigious it is. But what happens when you take a pay cut to take a better job? Can prestige be more important than salary?




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Today's episode features a university employee in Melbourne, by way of Edmonton, who makes  $105,000 AUD/year who also gets an additional 17% for his super-annuation (a pension, to you and me). He was introduced to financial planning in 7th grade by his teacher, encountered resistance about discussing money from his family, but also had the good fortune of having several high-paying construction jobs in his late teens to help set him on his way. 


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Let's hear from a Thunder Bay, ON science outreacher who manages budgets, people, and large projects. She makes $68,000 CAD/year but is often on-edge, worried that her staff possibly feels disdain toward her because of how much she earns. We also discuss her life in an area with a moderate cost of living that has afforded her and her husband to purchase a home, raise a child, and even have an electric car and a camper.


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Let's hear from an assistant professor of biology who makes $70,000/year - which you could have found out yourself since the salaries of all staff at public universities are published. We'll hear about how he thought he was rich when he got a fellowship for $30,000, what it was like to purchase a home a suddenly be $128,000 in debt (hint: it wasn't so bad compared to renting), and how he and his wife share household finances.


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This episode features a corporate marketing professional who grew up on the wrong side of the tracks in small town Eastern Connecticut who once made $14/hour as a janitor at 14 and just recently took a pay cut down to $116,000/year to relocate to Louisville. Let's hear about what it's like to have more than $125,000 in student loan debt, purchasing a 2,000-square-foot home for $37,000 after once living in a $2,400/month Manhattan apartment, being told by your HR department to specifically not discuss your salary, and the culture shock of going from a poor town to a fancy New York City college full of rich kids. And whatever you do, don't ask your teachers how much they make, even when doing an assignment about choosing a career. 


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Hear from an Australian science researcher who openly talks about money with all of his friends -- which he recognizes is unusual. He earns $85,000 AUD each year plus 12% superannuation to be put toward retirement. We'll learn that he and his friends aren't shy, how his willingness to talk about money directly led to him helping a coworker negotiate a raise at her new job, and why he believes that investing in real estate in expensive markets like Melbourne may not make sense for millennials any more.


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Send in a voice message: https://podcasters.spotify.com/pod/show/wallet-voyeur/message
Support this podcast: https://podcasters.spotify.com/pod/show/wallet-voyeur/support