This is the question that I have to ask myself last night.
I'm in the in-between place right now of making a living form crypto and trying to keep money coming in the door. With the current prices it's a bad time to sell any of my holdings so I was thinking of getting back to part time work and keep the bills paid. I could live off my crypto fully but would be selling below it's true value which i don't want to do. Also to get a mortgage I need to have a fully recognized job with papers attached.
Yesterday I was offered a job in a nearby business. It's a person that i have done some casual work for and now they are trying to get the place up and running properly.
He knows that I don't want to be working full time or unsociable hours which is tough to fit in as he is opening a bar and bnb. He said to let him know what hours that i would work and that he would build the schedule around that. It's a good sign that he wants me working there as he is doing a little construction at the same time where i can spend a few hours as well. I think he likes that i can do a bit of everything form building to bar to managing.
That is exactly what i want at the moment in a business that's just ten minutes away where the owner is willing to be very flexible with my shifts in a way that suits my lifestyle. My partner will be going back to work in January after her maternity leave and earns a lot more than i can possibly do so we are trying to set up our week to suit her work and the kids schedules. If i can work in between both of those and have time for my online work at the same time it's a win win.
The only issue with this is going to be wages. I came from 13 years as a manager with a large multinational so I had a good wage. Worked hard at it but the money was very good for the industry.
The owner has said to let him know what would expect as a wage. What wage should he pay?
I hate this question as it is far too open. How much should you say? I'm sure that he has a number in his head. If i go low, he will accept. If I go too high it is hard to come down to his level. It's a tough one.
What is my time worth and what am I willing to accept.
I would like to work there and it would be ideal for what we want as a family right now but the money question could be awkward.
Getting to a number in my head.
Breaking down the wages for my old job from a yearly salary it was €24/hr plus benefits.
Not too shabby.
But this is small start up with limited revenue and resources. I definitely won't get anywhere near to this and have to manage expectations. I'm just trying to figure out what the job actually is. A laborer, bar manager, general operative, bar staff. It's very ambiguous right now. What is he hiring me as?
I was trying to get more information and went online last night to crunch some numbers.
Minimum wage is currently: €10.50
The actual wage needed to live here is: €12.90
There is a job website that I have been looking at for the past while keeping an eye out for something that would suit and they have a lot of market information.
They have a handy tool that calculates the average wage for jobs in each profession.
Bar staff.
Bar Manager.
Laborer
Interesting information and a lot to think about.
I'm thinking that if I can get €15 per hour it would be a good result. Bar staff get about €11 - €12 per hour but i think that this job would involve a lot more responsibility than this. Not quite manager but taking charge of a lot of different areas and helping to run the whole thing. That would require a bit more money but not quite manager wages as a small start up with less than ten staff won't need a full manager with the owners involved.
I won't be saying any of this to him of course. That is just to have a number in my head. What I will tell him is my availability for work going forward and then let him make an offer of wages for me to think about. I would settle for a bit less if I think that it is the best option but I want to know what he is offering before deciding on it.
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Well, the person might not really be hiring you for a specific role, maybe they want you to come in more as a figure head to oversea things since you have known them for quite a while, it's easier to establish a working relationship whatsoever. Nevertheless, I think you should take the offer. Getting something flexible is great if you ask me.
I haven't known them for that long but we have worked together well so far.
I think that once his business gets up and running that he wants to step back and focus on his other ventures.
His daughter is going to be running it but she has a full time job right now and not much experience in the area so i think that he is hoping i will oversee the majority of operations and she can just be a check in point for the business.
I took the offer in principle and now we just need to decide the small stuff like schedules and extras to the contract.
I thinks it's the right call.
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Yeah, I think it's the right call too, because I'll go for flexibility if if were me too, this is because crypto needs a lot of time and sometimes, not giving it that time makes us feel like we're missing out on something.
It sounds like your job resposibilities aren't nailed down yet, so that would factor into how much the pay should be. The other question to answer is what is the relationship with your friend worth? The bar is nearby and you're getting in and helping him out at the start, which might be well-remembered if the place takes off.
Hit him with a high number now, or value the relationship more and build "sweat equity" for later? Looks like you've done your homework on wages for the position in the area. If it was me, I'd appreciate that he's a friend willing to build a schedule around me and has a business that's nearby.
What's more important, getting top dollar now (and possibly losing out on the position) or deepening a long-term relationship with your colleague? Answering that question will help guide you into knowing exactly what to do.
They still aren't nailed down really but we had a good chat yesterday and came to an agreement.
The job is very handy for me with it's location and working for a person that i get on well with. I got him to throw out the first offer and it was in my range so i said yes.
We also left it open to discussion in the future with the possibility of some top ups if things are going well and the business is making money.
I left my schedule fairly flexible to suit their needs and i think that we were both fair with each other which helps.
It's lower than my old wages but reasonable for the job im taking. I happy and i think that he is too.
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Have been thinking of what to do too apart from crypto for some time now because the reward is not sustainable like before again. I love the way you are handling the situation and it is good to learn from you. How is your splinterland season going?
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I just think that it's worth a lot more than what i can get for my crypto right now.
It's good to have some steady money coming in and build up my cash savings for a while again.
Until the markets recover I will keep stacking my crypto and build up those funds for the future.
Splinterlands is going well but i find it very tough to get out of gold every season now. Once i can get there it's fine and i keep moving up the ranks fast but gold is a bitch.
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Gold league is becoming something else especially In modern league is just too difficult
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Do what you gotta do Niall. Its interesting times, maybe good time to get ahead. Im keeping all my stash too, not selling much at all. Just transferring bits and pieces around. Ill need to get a mortgage soon too. Id stop by the bar and have a drink there if i could lol.
!PGM
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Sounds like a good plan.
No need to panic sell the bear market. This is the time to build a bigger stack for the next time around. We did hit a dip but it's hasn't been too bad yet, more of a correction really.
If your ever in the west of Ireland the door will be open.
Mortgage has to be done. It's great to get your own house and have that bit of freedom form landlords.
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Haha, hell yeah Niall. I was tellin Blanchy, but theres a guy on youtube that makes food eating videos, hes made his rounds all around Ireland doing the food challenges at different places. Randy santel if youre ever bored. Cheers to the plan man, see ya on next posts.
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This is definitely a decision that each person would decide upon uniquely. I guess if it doesn't really "work out", you have nothing to lose. However, for some not being under a boss is something far more valuable. This is especially true of those who have worked themselves in business. "Needs" often dictate decisions, which also helps to bear in mind, in regard to how necessary it truly is...
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It's definitely worth a shot i think. Just form a convenience view where the job is ten minutes away and i have a lot of experience in the area.
It's not everything that i wanted but it's very close and i wont get anything better so hopefully we can come to terms.
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I think it's a valid decision to make and I don't think it makes sense to sell off your crypto assets right now. It might be a bit troublesome but working to pay off your immediate funds and then deciding what to do with your leftover doesn't sound like such a bad idea.
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Well, if you are still able to live on crypto a bit or crypto profits.
Why don't you not just get a liveable wage + some stock in his business?
I could live on my crypto now but that's not the goal.
It's about retiring on crypto in ten years time. Getting a good wage now means that i can keep building up my stack while having enough money to pay my bills from the day job.
Then my crypto can keep working for me passively and compound.
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I think you have your answer. :)
For me these days:
Time to build passive income and be creative is more valuable than a higher income with a title.
A bar manager works pretty hectic hours / any manager in the service or restaurant industry does this. But you know this already :)
And if the person hiring is flexible with their hours for you then hey... you got the best of both worlds.
I'm thinking of the same thing right now to build up some income and resources again. I hope I find someone like your potential new boss. And I job that enables me to carry on creating as well.
I even thought of getting a night shift as security somewhere so I could get a basic income and write at night! :) But I need my sleep or I come unstuck... hmmm