I am working as a consultant in an organisation, I get good pay of which I save 80% even after living well. But I see there are some other consultants who get paid less but the difference is 10x in terms of performance, deadlines, creativity and qualifications. I have experimented many times to find that what I can do in one day the others require at least 10 days. I have documented this many times in a way that management takes notice. Also, many of the projects the others are simply not able to do and have given up after months of struggling around only to be done by me in a few days. My current pay is 2x the other guys but I want it 10x based on these data. I know it feel awkward to say these things to the boss since the company already is under strain but it does mindlessly hires many junior positions which they think will equal to 10x of what I expect.

I have a plan to offer a proposal where now I will charge per project basis, as I can complete projects at high speed so I can gain even 50x from such a deal which will also help the company in long run.

I do have 2x offers from other companies, but I like my current company and would never want to leave it due to the amazing comfort zone it provides. Also 40% goes into taxes which I want to minimize by getting paid in other modes like foreign trips , gifts etc.

Update: my payment is just 2% of the company revenues(not profits, the profits are about 30% of the revenue) and I can say 5% of profits comes due to me

I have already worked as a freelancer and this is the major reason why I have increased my productivity, I have shifted to one employer for comfort zone.

So what strategic approach do you suggest for me to adopt to maximize my gains (minimizing tax through getting paid in other modes) in commensurate with my demonstrated capabilities?

Jurisdiction: UK

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    Do you want to stay within the company? The usual approach to "making tons of money because you are really, really good" is to become an independent contractor and setting your own wages. – Erik Oct 25 '17 at 8:53
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    You probably have to decide if you want the security of the comfort zone or the profit of being an entrepreneur. It's unlikely you can get both at the same time. – Wilbert Oct 25 '17 at 11:24
  • @workguy depending on your location, those trips and gifts may be taxable. At my previous company, that came up during the planning of the holiday party one year. It was brought to the managers' attention by corporate, that the gifts/prize drawings may have to be counted as income and reported on the employees' paychecks. – Herb Oct 25 '17 at 15:17
  • "and I can say 5% of profits comes due to me" If true, that's actually detrimental to the organization's overall health, and it can explain why the company is actively trying to spread responsibilities over more people by hiring "subpar" coworkers. – pmf Oct 26 '17 at 7:24

A 500% raise is unlikely to happen in your scenario and could cause an issue if discussed.

Firstly companies are very wary (quite rightfully so) of having people who cannot be replaced.

Secondly you don't know if they actually have the budget for it.

Plenty of other reasons such as morale etc,.

If you were one of my guys I'd start looking for your replacement as soon as you mentioned it. I'm already paying you more than the rest. I'm NOT paying you to analyse my other consultants in order to boost your own recompense, and I can't let you become indispensable. The sooner the better since I've just seen your mercenary side.

To make this sort of money you really need to think about working for yourself. When working for a company your pay is guaranteed. That makes a huge difference to working for yourself. But working for yourself, there is no limit to how much you can make.

So when making the proposal don't argue for it in terms of hours, but in terms of total cost of the project. That's what I do. For many projects I hire people to do most of it and I just manage/test/plan and am personally accountable for any issues, after a lot of projects this gives me the credibility to charge quite high prices, easily ten times what I used to make. The client just wants the project completed to deadline with no excuses or issues. They don't know if I have 5 people working on it, or just me, and I have zero reason to tell them. If it's in my field of expertise I do it solo, but the client is paying as if it is a team, and it's fair enough, because my competition would need a team to do it.

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    500%. Come on man! – Mister Positive Oct 25 '17 at 11:52
  • @MisterPositive OP get's x2, but wants x10... so unless my math is way off (which is possible).... 500% of what he get's right now? – Kilisi Oct 25 '17 at 11:54
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    Your math is fine. I was being appreciative of your creative answer :-} – Mister Positive Oct 25 '17 at 11:55
  • What if my payment is just 2% of the company revenues(not profits, the profits are 30% of the revenue) – workguy Oct 26 '17 at 6:47
  • Update: my payment is just 2% of the company revenues(not profits, the profits are about 30% of the revenue) and I can say 5% of profits comes due to me – workguy Oct 26 '17 at 6:50

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