No matter what you do for a living-whether you’re a salesperson, a business owner, a self-employed professional, or an office worker-chances are the paychecks for people performing the same job functions as you vary greatly. Some people are earning a lot, while others are just barely scraping by. Even though you may be in the same market or industry and doing the same day-to-day things, your outcomes are very different.

Why is there such an earnings discrepancy among people in the same or similar job category? Because those who always emerge as the top performers know how to use the Law of Compensation to their benefit.

According to the Law of Compensation, there are no coincidences or circumstances as to why some people earn more than others. In other words, even though you’ll likely hear people say such things as, “He sells more because he has a better market than me,” or “The downturn in the economy has hit my industry much harder than others,” or “Of course she’s paid more…she’s the boss’s niece,” those external circumstances have little to do with a person’s earnings.
The Law of Compensation is a physical law and will always work; however, to have it work for your advantage you have to understand the elements involved. According to the Law of Compensation, the amount of money you earn will always be in exact ratio to the following five things:

1. The Need for What You Do
In order for you to be successful, there has to be a market for what you do-the product you sell or the service you offer. If you’re an employee or salesperson in a company, this point is taken care of for you. As long as the company you work for is viable and has hired you for a certain position, then there’s a need for what you do. If you’re a business owner or self-employed professional, you’ll have to do some research to determine if there’s a market for your offering. Find out if anyone else is offering the same product or service as you. If yes, how much competition is there? Even if the marketplace seems saturated, you may be able to set yourself apart (see point #2). If no one else is doing what you do, why not? Have many people before you tried and failed? Or are you the first in your market to come up with the idea? Whatever the situation, get a clear picture of whether the marketplace can sustain you.

2. Your Ability to Do Your Job
Each day you must wake up and ask yourself key questions:
• How can I do my job with excellence?
• How can I best use my resources to excel?
• How can I be an expert by targeting a certain demographic?
• How can I improve given the circumstances I have?

Many people focus on the challenges they face rather than on the possibilities that exist. As such, they look at their job and how they should be compensated backwards. For example, they may say to their boss, “Give me more money (or a company car or stock options or better health benefits) and I’ll do a better job.” But such a mindset is the equivalent of saying to your fireplace “Give me heat and I’ll give you wood.”

The Law of Compensation states that you need to start with what you offer and then the money will come. Therefore, always focus on how you can do your job better, how you can be different, how you can improve, and how you can turn challenges into opportunities for yourself and your company. The more you keep your focus on serving and improving, the more money you’ll earn.

3. How Easy or Difficult You are to Replace
Your monetary worth is always in direct proportion to how easy it is to replace you. So if you’re easy to replace, then your monetary worth is low. But if you are the best one at your job and giving good service to your customers, then you are extremely valuable. To raise your worth and thereby your earnings, always do more than what is expected from you. Too many people rely on the old phrase, “That’s not my job.” But going the extra mile and doing those things that aren’t in your job description will help you stand out and get the recognition that leads to more money. Realize that a lot of new opportunities started with someone seeing a need in a certain area and filling it. In the end, if you are the person who always volunteers and takes on new responsibilities willingly, people will remember you and you’ll be the first in line for new business, bonuses, promotions, and raises.

4. Your Attitude
A person’s attitude at work is often more important than his or her skill set. The way someone views the world and handles challenges definitely impacts his or her bottom line. For example, someone who complains all the time about not being paid enough, how tough the economy is, and how mean or unthankful all the customers are is not going to be viewed as favorably as someone who is proactive about solving problems and dedicated to customer service. As the old saying goes, “Where attention goes, energy flows.” In other words, the things you spend your time thinking about will multiply. What do you continually think about at work-the problems, the unfairness, your low pay check? Or do you think about rendering great service, finding solutions, and creating opportunities?

Instead of competing with everyone else and trying to look outside reasons for your lack of success, focus on your own ability to do your work. Be honest with yourself. A lot of people who think they’re earning too little are not really giving their full attention to their work and are displaying a poor attitude on the job. With a positive attitude, you become a happier person at work. And when you’re happier and focusing on how you can do better and improve service rather than hanging out around the water cooler complaining about a myriad of things, you will stand out as someone who deserves more money.

5. Your Belief in the Law of Compensation
To make the Law of Compensation work for you, you must believe in it and trust that it works. Granted, it might take some time until you see noticeable results. After all, this isn’t something you can start on Monday and expect significant results by Friday. You need a long-term focus to get the best benefit. Therefore, believe that you deserve more money and acknowledge that there is an indisputable law to your earnings success. Doing so will help you keep your perspective and strive to always do better on the job.

Success is Predictable
If you are not earning what you want, you need to take a good hard look at yourself and your on-the-job behaviors and actions. Are you following the Law of Compensation guidelines? Or are you just skating by, hoping that by some stroke of luck you’ll earn more? Remember that luck has nothing to do with your salary. When you follow the Law of Compensation principles and believe in yourself, your current salary will rise and your future income potential will be limitless.

In this book, Brian mentions several laws of success which are very interesting and can be useful in life. They can be found in this website and are summarised below:

The Law of Substitution says that…

“Your mind can only hold one thought at a time, positive or negative, you can substitute a positive thought for a negative thought whenever you choose.”

The Law of Habit says that…

“Any thought or acion that you repeat over and over again will eventually become a new habit.”

The Law of Emotion says…

“A stronger emotion will dominate and override a weaker emotion, and whiever emotion you concentrate on grows and becomes stronger.”

The Law of Attraction says that…

“You are a ‘living magnet’ and that you inevitably attract the people and circumstance into your life that harmonize with your dominant thoughts, especially those thought that you emotionalize strongly.”

The Law of Expectations says that…

“Whatever you expect, with confidence, becomes your self-fulfilling prophecy.”

The Law of Correspondence says that…

“Your outer world corresponds to your inner world.”

The Law of Cause and Effect says that…

“For everything you want, there is a price that must be paid.”

The Law of Sowing and Reaping says that…

“You have to put in before you get out. You have to give before you receive.”

The Law of Belief says that…

“Whatever you believe, with feeling, becomes your reality.”

The Law of Compensation says that…

“You get our what you put in, and the more you put in, the more you get out.”

The Law of Reversability says that…

“You can develop within yourself the values, beliefs, and qualitites you most admire by acting as if you already had them.”

The universe is governed by law, infallible, immutable law, and if not, what sort of universe would it be. We accept this fact knowing it to be such, and through our studies in astronomy we are able to foretell to the very minute any happening in the future. Eclipses occur at computable periods, and we know these to the minute.

Everything happens on time, on exact schedule, and we accept this fact because we know that it requires law to operate anything in other than haphazard fashion.

The seed is planted in the ground, it requires the materials of the earth, the light of the sun, warmth and moisture, the things that we recognise as elements necessary to the growth of the seed into a plant or tree, and while we may wonder at this unchangeable arrangement, yet we are more apt to accept the fact as demonstrated by Nature and let it go at that.

But have you ever stopped to think of this arrangement by which Nature perpetuates herself?

Congress of animals produces progeny, if the basic essentials to this are present; not otherwise. Nature again reproduces herself according to immutable law. Growth is part of this law, depending on the conditions that must be present for growth.

Animal life develops to a certain standard of size for each species, then stops growing, but does not the same process continue? When the animal has reached the average size designed by Nature, is the law of growth then suspended?

So far as increase of stature is concerned there is no further operation of the law in evidence, but it goes on according to the same conditions as obtained for increase in stature, for the body dies daily and is daily replaced with new material, and still this law of growth applies as repairs have to be made, as new material has to be elaborated and built into the body for repairs.

All this goes on without our conscious knowledge, yet we know somewhere in the depth of our consciousness that it does go on, for we see the visible parts of the body change, as the hair, the nails, the skin, and we realize that we are never really through growing, except as relates to stature.

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