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I have been
asked over the last year regarding which currency would be
best to negotiate in a contract due to regular currencies
fluctuations. Here are my thoughts :
Don’t Change Queues at a Supermarket
OR
Currency fluctuations and your salary.
How many times over the years and around the world, no
matter what country;
We change Queues at a Supermarket only to find out very
quickly, that as soon as we join the other Queue the
quickness you once saw or perceived stops, halts, stalls.
The person at the front of the Queue either brings out a
Cheque Book (To Cashier: “Do you take Cheques?” Reply: “ Not
since 1983 Sir” )
OR
As suddenly as you appear on the new quicker Queue there is:
“Price Check on Checkout Four, Price Check on Checkout
four”.
The more you become agitated the slower the Checkout lane
moves.
Frustrated?
You just have to bide your time , it will move again and you
will get to where you wish to go, The Checkout knows you
have changed and deliberately goes slow. Murphy’s Law in
action.
Like me with shares, they go up when I have no investment in
the company and the day I buy the shares, down they go..
So what has this go to do with Currency Fluctuation and your
salary?
Over the last 18 months and more, currencies have fluctuated
wildly at times.
The Australian Dollar has moved against the US dollar from
$1.12 approx to 90c and back up again over the $1.00 mark.
The Euro the same has fluctuated, Pound the same, RMB and
the Yen the same and so on.
I have been asked many times over the last 18 months, my
opinion on whether a client/candidate should change from one
currency to another, usually the US dollar to Aussie Dollar
or from US to Euro.
My advice is, until the world adopts another international
currency to take over from the US dollar, stick with the US
or the currency you are with. If the rest of the world uses
the US dollar as the bench mark then why not you?
Of course the Euro or Yen don’t look too shabby either if
you are on them. The Aussie? It does tend to fluctuate a
fair bit
If you insist with your employer for a change, fine and it’s
your right to do so BUT do not do it out of panic as has
happened, as it will end up biting you.
Have a good think before hand, because, as with the
supermarket Queue, your new currency salary may well stall.
You may find yourself with a Price Check on Checkout Four.
And I don’t feel your employer will take too kindly to you
asking to again return to the currency you once had with
them .They may start questioning your decision making
capabilities.
When you agree, and sign a contact that’s exactly what you
do, agree with what is written and the currency you agreed
upon unless it’s the Zimbabwean Dollar not a good move right
now
Of course if the currency bottoms and comments from
professionals state to move, then move but this happens
rarely if at all , as no one really knows, not even the “
experts” What Happened to Wall Streer? To Lehman Bros.
I have been asked what I think the US Dollar or Euro will do
and if the person should change to a certain currency.
I am flattered BUT if I knew the answer I would be sailing
my yacht on Sydney Harbour or Skiing in the Swiss Alps
(badly but, skiing)
These are uncertain times economically ( but getting better
) and Asia, India, Middle East in fact most parts of this
world are doing quite well .Lets hope Europe bounces back
So, as I have been asked several times:
In my humble opinion hang in there, stay in the Queue, as
changing you just may encounter 2 people in front of you
with Cheque Books. Heaven forbid
and remember :
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Murphy's
Law
An
expert is one who knows more and more about less
and less until he knows absolutely everything
about nothing.
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Very Best Regards,
Stuart Mullinsillion Australians Live Permanently Overseas?
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ESI
News Letters
You Know When You Know
How to Hire & Keep Staff
Not Such A Grand Mother/Go and Ask Your Mum
Are Salaries Dropping? Are the Days of the Well
Renumerated Ex Pat Manager Numbered?
A Warm Smile and a Friendly Greeting
Promises? What Promises?
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