Have you ever created a lifetime salary review? Most of us get completely entrenched in today’s financial goals and how we can achieve these as instantaneously as possible.

Our financial expectations only grow larger. Accepting a role because of the salary can be tempting, but what about your next role? Will an equally big offer be presented? If the answer is no, then the opportunity probably isn’t as good as it initially appears. If you answer no, ask yourself why are you accepting this opportunity?
The higher your salary climbs, the harder it is to start back from base camp when you decide its finally time for that new career path or a transition.

Gaining a lucrative salary can come with pitfalls. So before you sign the dotted line consider the following.

1. If you earn $X now, what are your prospects in 18months – does it provide an attractive step up again? Be sure the options aren’t too narrow that competition outdoes you or that you become priced out of the market. If you find this is you, add responsibilities to your repertoire which will justify this level of earning externally.
2. If you are offered a lucrative salary – ask why? Does it imply longer hours, less bonus? Will the flexibility be limited? What happens if you move from this company – will you culturally be suited or will you be too conditioned to work in another work environment?
3. Diversification verses specialization – during a downturn, job seekers with very specific skills sets tend to be those who find they are more prone to restructure. As a job seeker, they also find it more difficult to find new opportunities. Firstly, demand verses supply – you are no longer in demand. It is more difficult to transition into new lines of business or gain a different skill set and finally, your salary expectations often price you out of the market for other roles. Having a good foundation and lots of “side steps” throughout your career path makes you less dispensable – you can transfer into different areas where you have recently had responsibility. You will be a more trusted resource than an employee who has fast tracked their career.
4. Consider your mindset – consider that dollars are the result of time, be patient with your returns as your career is a long term investment. Negotiations made on salary should be grounded with evidence, keep a diary of these for future reference.
5. How will your resume look? If you take this position or if make a series of quick successions how will your resume look? What will it look like to the reader? What theme or what skills do you want to be included on this document, does this position provide for these? Employers prefer to hire those whose resumes display logical progression.

Financial motivators help companies attract talent. Before you make a career move based entirely or primarily on remuneration, consider the long term returns and how sustainable your expectations will be in different conditions overtime.