Compensation can be a motivating factor in whether or not you choose to accept a job offer, continue working at a job, or move to another one. Forms of compensation can be tangible or intangible which is called extrinsic and intrinsic compensation as we learned in Lecture 1 of Week 8.

Compensation was a motivating factor for me when I decided to leave my previous job and move to my current one. The position I had previously did not have room for growth or a way up the ladder and as time went on, it began to bother me more since I am someone who strives to go higher and be better. This never decreased the effort that I put into the job though my outlook on it became worse and I would dread going to work until I eventually quit.

I was attracted to my current job because it drew on the same skill sets that I had for my previous job and there was many opportunities for growth. Not to mention the pay was higher than my previous job. So, the higher pay was an extrinsic reward that attracted me to the job and the opportunities for growth and feeling like the job was more psychologically satisfying was an intrinsic reward. In Lecture 1 of Week 8 it says that “compensation is a powerful tool for influencing employee behavior”, and I feel like that exemplifies how I feel in my new job. I feel more positive when going to work and I still look forward to my shifts because I enjoy what I do and I feel like I am being compensated properly for the responsibilities of my job.

I think compensation made me feel this way because I feel like I am being valued for my contributions to the workplace and given opportunities to raise my value unlike in my previous job.

Reference:

Lecture 1 of Week 8