Young professionals: How they spend their first salary

“I will buy a phone”, “I will buy this dress” or “I will give my friends a treat”… These are just some examples of how people plan to spend their first salary. No matter how fast you climb the ladder of success, you will never forget your first job and your first salary. The planning that goes behind how to spend those first hard-earned rupees is quite memorable for many and often leads to endless days of weighing different options. This week, some of the young professionals share with us how they spent their first salary.

[[{"type":"media","view_mode":"media_large","fid":"13342","attributes":{"class":"media-image wp-image-22001 alignleft","typeof":"foaf:Image","style":"","width":"197","height":"210","alt":"Vimal Woomed"}}]]Vimal Woomed: “Donated a portion of my salary”

27-year old Vimal is currently working as a Professor’s Assistant in Canada. He still remembers how in 2011, he received his first bi-weekly salary at the age of 22. He was working as a library assistant to students with disabilities at York University Library. “I also scanned books and converted them into PDF format using specific requirements. Speech reader software would in turn read the PDF files to students with visual impairment,” he confides.

He donates a portion of his income towards the lunch program of a temple in Toronto. “With the rest of my first salary, I purchased winter gear designed for the harsh Canadian winter. My first salary provided me with a sense of financial security. I felt independent, grown up, and proud knowing that I will be able to finance my living expenses. I was also very happy, as I knew from that time onwards, I would decrease the financial burden on my parents who were working hard to finance my university fees and living expenses.”

[[{"type":"media","view_mode":"media_large","fid":"13336","attributes":{"class":"media-image wp-image-21995 alignright","typeof":"foaf:Image","style":"","width":"192","height":"234","alt":"Farheen Boolaky"}}]]Farheen Boolaky: “Spent lavishly on food”

Residing in Phoenix, 23-year old Farheen Boolaky works at the compliance department of a management company situated at the Caudan Waterfront. As she always dreamt, she gave part of her first salary to her parents and like any other typical girl, the rest of the money was spent on shopping.

“With my first salary, I got what I wanted and needed. Besides, being a foodie, I spent lavishly on food. That first salary is always a wonderful and unique experience. It is a feeling of being independent, being grown up and feeling proud of yourself for having achieved something in life. It was one of the most blessed moments I had in my life. Getting your first salary, whether a small or a big one, will always remain a matchless moment because it is that point of time you start to realise the true value of money, whereby you come to understand that maintaining a budget would always do some good to you.”

[[{"type":"media","view_mode":"media_large","fid":"13341","attributes":{"class":"media-image wp-image-22000 alignleft","typeof":"foaf:Image","style":"","width":"175","height":"258","alt":"Sneha Khemraz"}}]]Sneha Khemraz: “Handed my cheque to my father”

Sneha, 22 years old, is the director of an insurance agency. She confides that during school holidays, she used to work as a host for a solar water heater reseller in Phoenix and Riche Terre. “When I got my salary, I was ecstatic and as a teen, I wanted to spend that money on things I like. But once I reached home with the cheque, I felt like giving it to my parents, as I remember what my dad told me: he gave his first salary to his mum. So, I did the same with my heart, not out of duty. He took the cheque and without my knowledge, deposited it in my bank account. A few months later, for my 18th birthday, he upgraded my bank account into an adult’s one and got me a debit card having my salary and some money he saved for me, and he told me: ‘My dear, use it wisely, know how to save and spend your money.’ He gave me a small lecture about how essential saving is.”

   

[[{"type":"media","view_mode":"media_large","fid":"13337","attributes":{"class":"media-image wp-image-21996 alignright","typeof":"foaf:Image","style":"","width":"190","height":"217","alt":"Farzianah Jaumbocus"}}]]Farzianah Jaumbocus: “I was reluctant to spend it”

29-year old Farzianah lives in Vacoas and works in the health sector. She got her first salary 10 years ago when she was working as a clerk for a tiles company. “I was 19 years old when I got my first salary. I was very excited and happy. Initially, I was reluctant to spend it and wanted to save it forever. Finally, I gave part of it to needy people, did some shopping and saved some. I was really happy to buy things with my own hard-earned money. It was an awesome feeling. I used to ask my parents for money or made them buy things for me, so that first salary was something really great,” she avers.

   

[[{"type":"media","view_mode":"media_large","fid":"13340","attributes":{"class":"media-image wp-image-21999 alignleft","typeof":"foaf:Image","style":"","width":"207","height":"209","alt":"Noushrah Dawlut"}}]]Noushrah Dawlut: “I spent all the money on cakes”

26-year old Noushrah is an entrepreneur. She received her first earnings when she was only 14 years old. As a teenager, she used to put Henna on people’s hand and hence, she got her first earnings due to her passion. “I still remember the Rs 50 note I got after applying a beautiful design. I was really very happy. I spent all the money buying cakes for myself. I gave myself a treat. Today, I still apply Henna, as it is my hobby and I always remember the first Rs 50,” she avers.

   

[[{"type":"media","view_mode":"media_large","fid":"13339","attributes":{"class":"media-image wp-image-21998 alignright","typeof":"foaf:Image","style":"","width":"184","height":"201","alt":"Nandita Kissoon"}}]]Nandita Kissoon: “I bought a decorative souvenir”

Nandita Kissoon works in the education sector. Her first job was as a supply teacher when she was 23 years old. She is very passionate about teaching and jumped on the opportunity when she got it. “I felt very proud and happy when I received my first salary. I bought gifts for my husband, my in-laws and my parents. Besides, I bought a decorative souvenir which I have placed on the wall of my house as a memory.” For her, it was an emotional moment, as she could see her hard work and sacrifices being rewarded.

   

[[{"type":"media","view_mode":"media_large","fid":"13338","attributes":{"class":"media-image wp-image-21997 alignleft","typeof":"foaf:Image","style":"","width":"176","height":"181","alt":"Marie Aniella Jaune"}}]]Marie Aniella Jaune: “I did a lot of shopping”

Marie Aniella, 24, is a fashion designer. She got her first salary at the age of 18 when she was working as a cashier in a restaurant during school holidays for pocket money. For her, it was a great moment of pride. She still cherishes the moment she received her earnings. “I used to get Rs 5,000. I did not spend all of it. I did a lot of shopping, went for lunch with my friends and to the cinema. I was really happy and proud of myself as I had worked hard for a whole month. This helped me become more mature and responsible.”

 

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7 tips for leading your peers

1. Understand, practice, and complete the leadership loop “If you want to gain influence and credibility with people working alongside you, then don’t try to take shortcuts or cheat the process.” The leadership loop begins with caring – taking an interest in people – and ends with succeeding – winning with people. In order to complete the loop, leaders must not skip the steps in between. Take your time. People with big goals want to be on a team with someone who has achieved before. Success begets success.

2. Put completing fellow leaders ahead of competing with them. “The whole goal of healthy competition is to leverage it for the corporate win.” For organizations, success of the whole team is more important than any individual wins. Therefore, build your teammates up and they’ll want to win with you.

3. Be a friend. “Good relationships make influence possible, and friendship is the most positive relationship you can develop on the job with your coworkers.” As leaders, our goal should be to be a friend, rather than find a friend. You may need to continue working at being a friend even if your peers don’t initially reciprocate the efforts. Ultimately, being a friend will give you the opportunity to influence your peers when the time comes.

4. Avoid office politics. “The bottom line is that people who might be described as ‘political’ are ruled by their desire to get ahead instead of a desire for excellence, productivity, teamwork, or consistency.” To succeed at leading across, it’s important to stay true to whom you are and not act differently to win over those with power. That is a surefire way to lose influence among peers. Instead, become a statesman for your organization by keeping the big picture in mind, remaining unselfish, and trying to be a diplomat with your peers.

5. Expand your circle of acquaintances. “To get outside of your comfort zone, why not start with those in your comfort zone? Every friend you have has a friend you don’t have.” These acquaintances can be crucial connections for you as you grow in leadership and life. As you befriend and lead your peers, your connections may benefit them, as well. You’ll ultimately provide more value and gain more influence among them.

6. Let the best idea win. “Being a 360-Degree Leader and leading across is not about getting your own way. It’s not about winning at all costs. It’s about winning respect and influence with your peers so that you can help the whole team win.” Having a collaborative spirit helps immensely when you discover that your idea may not be the best idea. As a team player, it’s important to recognize where you can add value when you let your idea go and let the best idea win. That’s when you win friends and influence people.

7. Don’t pretend you’re perfect. “Since nobody is perfect - not you, not your peers, not your boss – we need to quit pretending. People who are real, who are genuine concerning their weaknesses as well as their strengths, draw others to them.” Pretending we are perfect doesn’t get us anywhere. Instead, admitting faults, asking for advice, worrying less about what others think, being open to learning from others, and putting away pride and pretence are important steps to help us move in the right direction and win over those around us.

Source: John Maxwell