I have to admit it. This is a difficult one. I should have given you enough warning. But hey, if I had done it, then it wouldn’t have been such a surprise isn’t it?
So, you are surprised by my question: What is your current market value in dollars?
To break your surprise down, what you are telling me is that the above question is not one question, but two questions.
1. What is your current market value?
2. What is the worth of your current market value in dollars?
Now you are forced to think of an answer to two questions.
Your Current Market Value
If you are working anywhere, for someone or for yourself and getting paid for it, then you agree that you have some market value.
I mean, if you had none market value, then you wouldn’t have been working at all and you wouldn’t be getting paid too, isn’t it?
Now that it is established that you do have a market value and you are currently earning an income from it, then it’s a good thing. You get some kind of weekly earning or monthly earning and your life goes on and everybody, including your family is happy.
But, have you ever wondered what your current market value is in terms of per hour basis?
You have never calculated what you are worth per hour, much less thought about it? Oh….ok. It’s all right. All of us make mistakes. We are humans. You are human and so am I. 🙂
Would you be interested in calculating your current market value in your nation’s currency on per hour basis?
Here’s how I calculated my per hour value according to my currency which is Indian National Rupee (INR).
When I left my last job this year, my per month contractual salary was INR 45,000/-. One day, I decided to calculate what that salary meant in terms of value to me on an hourly basis.
My working hours in the office were from 10 am to 5 pm = 7 hours
I had a six-day work week, which meant, my total working hours in a week were:
7 hours x 6 days = 42 hours
Keeping four weeks to a month, the number of hours I put in every month were:
42 hours x 4 weeks = 168 hours per month
Now, to find out my per hour working according to this data:
INR 45000 ÷ 168 hours = INR 267.857 (approx INR 268)
So, my market rate at the time I left the company was INR 268 per hour.
In other words, I had this fun money fact about myself that I could demand INR 268 for every hour I worked for anyone else.
Now, this got me thinking about the global economy, more specifically USD or United States Dollar. I now wanted to know what was my market value in terms of dollars or USD.
I quickly went to Baba G (Google Baba — for newbies who don’t know) and prostrated before him. I typed inr 268=?usd and the answer I got according to today’s (April 19 rate) was: 4.034 USD.
In other words, the market said that I was not even worth 5 USD per hour. My market value was less than 5 USD for an hour. This was news to me. It wasn’t very encouraging, I can say that.
Since that time, I have been trying to better my market rate with regards to USD per hour.
If you like, you too can try out this small calculation and check out what is your current market value per hour in first, your own nation’s currency and then in US Dollar per hour.
This will at least alert your mind to what kind of trajectory your career is on and whether you would like to stay on the same path.
If this post interests you, share it with your friends. They too might want to know their own personal worth in a global economy. 🙂