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Money is the key element of motivation. However much you come to enjoy your work you will still do it mainly to keep body and soul together – yours and the family’s. Two questions – how much should you get and how should you get it?

We are told “the labourer is worthy of his hire.”  Sometimes it is an excuse for not paying more. Often it’s an attempt to obscure the negotiation. Occasionally it implies that we should be prepared to work for nothing. I’ve never heard the expression quoted to support higher pay.

The law of supply and demand should produce efficient market pricing. Unfortunately it is often distorted by events that rig the data. One way or another, it will determine what you are paid. Nobody has yet found a better system.

Be realistic about your worth. The factors that count are those that can be perceived – qualifications, experience, impression made at your interview – and afterwards. All your working life you are being interviewed, not just daily but hourly; never forget it. Look at other people and find out what they are paid, how they perform, what degrees they have. Pitch your requirement realistically. All my experience is that Asians do this better than some others, having a sharp, instinctive view of the market place. Don’t underestimate yourself, however. And don’t forget to take account of the sort of business you are in as well as the level of job.

Too much emphasis is placed by employers on experience. There’s not a lot you can do about that in the short term. We should teach the bosses that brains and intellect are infinitely more valuable but employers are – like the rest of us – often lazy and take the easy way out. A man with experience at least has that, if nothing else.

Discuss your salary needs with someone not too involved in the consequences of what you earn. A well-informed friend can help you to think through your strategy. In the end, you will negotiate. It’s important to remember that, from the moment you start dealing with a potential employer. Applicants have a tendency to become sickeningly self-deprecating and over-zealous about the boss-to-be. He or she is just a human being. Always treat them politely but don’t crawl. If you do they will get you on the wages. Hold you head up; you don’t want to work for an employer who can’t cope with self-assured staff.

At least as important as ‘how much?’ is ‘how?’ Pension needs will force some savings from your wage packet but not enough to see you into a comfortable retirement. For that you must save a lot more, get lucky on the gaming tables or win a fortune on the lottery. Don’t ever depend on either of the last two. On the rare occasions that they work they bring huge penalties with them.

Always try to get a deal which involves performance-related bonus payments. To do this you must have cast-iron criteria by which your performance will be judged. Personal handouts on the whim of the boss won’t do. He may think highly of you one day and poorly of you the next. Make sure your terms are clearly defined in your contract. You only do the deal once.

That’s not quite true. You should negotiate as if you do but re-negotiation is a big part of life these days and you must always be on the look out for opportunities to make a more demanding job more rewarding. Your workload will inevitably increase. See that you – as well as the company – get some of the benefits.

If you don’t nobody else will.