One of the biggest career mistakes people make is focusing only on getting a job, without thinking about how that job will improve their financial position over time.
You get a job.
You start earning.
Then your expenses increase.
Better phone. Better clothes. More outings. More responsibilities. More family requests.
Eventually, your salary increases, but somehow you are still financially stretched.
Then another job opportunity comes, and the first question becomes:
“How much are they paying?”
Salary is important, but it shouldn't be the only thing you consider when building a career.
A good career should ideally help you increase your:
Income + Skills + Experience + Network + Future opportunities
For example, imagine two people earning similar salaries.
Person A spends all their free time consuming entertainment and waiting for the next salary increase.
Person B uses part of their free time to develop a valuable skill, understand their industry better, build professional relationships and learn how to manage the money they earn.
After several years, their salaries may no longer be the only difference.
Their earning capacity may be different.
That's why I believe one important question to ask about your career is not just:
“How much does this job pay?”
Ask:
“What is this job teaching me that can increase my value in the future?”
Your first job may not pay a huge salary.
But if it gives you valuable experience, skills, relationships and opportunities for growth, it can become a stepping stone.
At the same time, earning more doesn't automatically mean becoming wealthy.
If your income increases from ₦200,000 to ₦400,000 but your lifestyle and expenses increase from ₦180,000 to ₦390,000, your financial situation may not improve as much as you expected.
So there are really two things to work on:
Increase your earning power.
AND
Learn how to manage and deploy the money you earn.
Your career can be one of your biggest wealth-building tools—but only if you treat your income as something to build with, not something to immediately consume.
For young Nigerians starting their careers, what do you think is more difficult:
Getting a higher-paying job, or learning how to properly manage the money once you start earning more?
I'd genuinely like to hear people's experiences.
Money Explained Africa Helping Nigerians understand money, income and wealth.
