For me it\u2019s simple \u2013 people thrive in their career because they achieve the mix of extrinsic and intrinsic reward that is right for them.<\/p>\n
Extrinsic reward<\/strong> is easy to define; it\u2019s the monetary value of your compensation (salary, bonus, pension, healthcare etc\u2026).\u00a0 Extrinsic reward is what drove people for generations and continues to drive many.\u00a0 The ability to fund a lifestyle, to live at the right address and to have the right reg on the right car.\u00a0 Extrinsic reward was, and is still, heavily linked to social status.\u00a0 The more you are paid, the more you can afford, the better you appear to be doing.\u00a0 High extrinsic reward is all some people need to thrive in their career.<\/p>\n Intrinsic reward<\/strong> is a whole lot more complicated.\u00a0 It\u2019s how you feel on a Sunday night, how fulfilled you are by what you do, how you feel your work makes a difference, how respected and acknowledged you are by your peers\/leaders, your opportunity for learning and personal\/professional development and so much more.\u00a0 It is a complex cocktail that contains everything you can\u2019t put a monetary value on.\u00a0 Intrinsic reward was previously a tertiary consideration \u2013 it does not after all put food on the table. Over time, as society has become more affluent, it has become a more important part of the conversation.\u00a0 High intrinsic reward is all some people need to thrive in their career.<\/p>\n To thrive in your career you need to get the mix (not balance!) of extrinsic and intrinsic reward right for you.<\/strong>\u00a0 Sounds easy.\u00a0 It\u2019s not.<\/p>\n Only the lucky few ever find a career that maximises extrinsic and intrinsic reward \u2013 the unicorns.<\/em><\/strong> They are energised by what they do, feel fulfilled by what they do and get paid handsomely for the privilege.\u00a0 They most certainly thrive.<\/p>\n Many people get trapped in careers that provide extrinsic reward at the cost of intrinsic reward –\u00a0\u00a0 the high fliers<\/em><\/strong>.\u00a0 Getting paid well affords a certain lifestyle.\u00a0 It takes a brave (or independently wealthy!) person to abandon their lifestyle in pursuit of a different type of reward in their career.\u00a0 Most dream of it but can never act on it – you are never going to be paid the same teaching as you are in investment banking\u2026. Many high fliers thrive in their careers (because the mix is right for them) but equally many don\u2019t.<\/p>\n Some people also find themselves in careers that provide intrinsic reward at the cost of extrinsic reward \u2013 the enlightened<\/em><\/strong>.\u00a0 They are energised and fulfilled by what they do, but the system does not financially reward them for it.\u00a0 Teaching can be much more fulfilling than investment banking\u2026for some.\u00a0 Many of the enlightened thrive in their careers but few are recognised by society as thriving.<\/p>\n The people that are neither extrinsically nor intrinsically rewarded in their careers have it tough \u2013 the grafters<\/em><\/strong>.\u00a0 They get poorly rewarded financially and would much rather be doing something else.\u00a0 For many this is not a choice it is a product of circumstance.\u00a0 Few grafters thrive in their career but many compensate for this by thriving outside of work.\u00a0 It is just a job after all\u2026<\/p>\n People are complicated.\u00a0 People can thrive in different ways in their career.\u00a0 How you spend your Monday to Friday and the people you spend it with, has a huge impact on how you spend your time on this planet.\u00a0 Thriving in your career is synonymous with thriving in your life \u2013 get the reward mix right for you and you will most certainly thrive.<\/p>\n The guest author of this post, Ed Heffernan, is\u00a0Managing Partner\u00a0at Barden Ireland. <\/i><\/p>\n Contact me directly at\u00a0john@inspo.ie for further\u00a0information on Inspo.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":" For me it\u2019s simple \u2013 people thrive in their career because they achieve the mix of extrinsic and intrinsic reward that is right for them. Extrinsic reward is easy to define; it\u2019s the monetary value of your compensation (salary, bonus, pension, healthcare etc\u2026).\u00a0 Extrinsic reward is what drove people for generations and continues to drive […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[135,149,142,151],"yoast_head":"\n