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WHAT IS YOUR SKILL SET WORTH?

To me , the bulk of what he charged should be for the pressure he was under with all of the engineers were hovering over him while he is trying to concentrate on the problem.
I was working on a car under the hood and the customer gets right in there with me and goes " making any headway??" The co worker beside us says " THE ONLY HEAD IN THE WAY IS YOURS"
:rofl:
 
I must put my hourly rate up....I don't get many complaints. That's the advantage of working in places where not many would dare to walk in to.

In fact only one slow payer so far.....maybe I shouldn't have started helping him given that his previous job was probably in a Call-Centre. :rolleyes:
 
My go to statement after fixing problems, devising work arounds for failed computer controls, or figuring out how to keep running and or what to do with thousands of pounds of molten iron in the foundry after equipment failure: "It didn't take an engineering degree to figure that one out." Almost always got a grin from my plant manager, a degreed engineer. :thumbsup:
 
In fact only one slow payer so far.....maybe I shouldn't have started helping him given that his previous job was probably in a Call-Centre. :rolleyes:
Indian head bob.gif
 
Because I like to investigate, and because I have ChatGTP5 professional (which uses everything for information), and becuase the GE story seemed to be the same, but different $$ and days to diagnose; I had to ask GTP if the story was true (I also wanted to create a LinkedIn post from it):

Short answer: TRUE… with a big asterisk.

The famous “Steinmetz chalk mark” story is based on a real event, but the viral retellings you see on LinkedIn (including the one you posted) are highly dramatized, embellished, and in some cases flat-out fictionalized.

Here’s what’s true and what’s not.


✅

✔ Charles Steinmetz really did consult for Henry Ford.​


Steinmetz—already a legendary electrical engineer—was indeed brought in to diagnose issues with Ford’s massive generators. He worked on multiple consulting engagements for Ford Motor Company in the 1910s–1920s.

✔ Steinmetz really submitted a bill for​

This part is historically documented.

Most accounts agree the real invoice said something like:

  • “Making chalk mark: $1”
  • “Knowing where to make the mark: $9,999”

The dollar amounts vary depending on the retelling, but the sentiment is legitimate and was recorded in contemporary sources.

✔ The core message—expertise vs. time—is accurate.​

Steinmetz was famous for solving extremely difficult electrical problems quickly because of deep knowledge in AC theory, rotating machinery, harmonics, and transient phenomena.


❌


❌ The “5 minutes vs. 5 days, 50 engineers” bit​


There’s no historical documentation that Ford’s engineers spent five days failing before Steinmetz arrived, nor that he solved it in five minutes. The real issue likely took hours or days of analysis.


❌ The “I just need a chair, a notebook, and silence” scene​


This is embellishment added later to make the story cinematic.


❌ The specific “1920 generator outage” story structure​


There’s no primary source describing a dramatic factory shutdown where production halted and Steinmetz saved the day with one chalk mark.


It might have happened, but no reliable engineering or historical paper documents it this way.


❌ The source you referenced (“Inspiring feats… Engineer of Engineers”)​


That AllAboutCircuits article is accurate about Steinmetz’s life, but it doesn’t claim this chalk-mark incident happened in two days.
Your viral story and the AAC article share a theme—Steinmetz solving hard problems quickly—but AAC doesn’t tell this particular chalk-mark anecdote.





True event:
Steinmetz billed Henry Ford $10,000 for a generator diagnosis, justifying it with something like “knowing where to mark it.”
Ford questioned it; Steinmetz itemized it; Ford paid the full amount.


False embellishments:
Most of the framing—five minutes, five days, hand-on-generator silence, dramatic reveal—is creative storytelling added in later decades.


So the story you quoted is based on a real truth, but the details are fictionalized.




Why this matters (and why it spreads)​


These stories endure because they capture a timeless leadership principle:


You’re not paying for minutes of labor.
You’re paying for decades of mastery.
 
To answer OP's question: it depends who you ask.
Times are different in the midwest. There is this ever growing concept that if you don't have turnover in your company, you will never see new ideas and you will miss out on new employees that want to work harder to prove themselves. Tenured employees are stagnant, don;t want to change, don't want to grow, don't have new ideas and expect to be paid more than new hires, messing up budgets.
No, I am not kidding, this is what modern mangers think, and pretty sure this is part of what HR is schooled on or at least gets force fed from every third party staffing agency while simultaneously being too detached from reality to comprehend a business that makes money by filling open positions may have an alternative motive for telling you that turnover is good.

Ever wish that one old guy you used to call or talk to about something was still around? It could be on how to do something, what parts you need, how something works... those old guys got to know their stuff by working on something in an industry for decades.
The modern concept is that old guys are stagnant, over paid, and won't be adaptable to change.

How much is my skill set worth? Half again what I earn right now. I will have to go to a new company every 5 years to get that though, as they each have to learn the hard lesson that experience costs money. The problem is, once they learn that lesson? They revolving door the people that learned it to another place and then that organization forgets and has to start all over learning the same lesson. Don't want to move every 5 years? Better be fine accepting you will earn 40% less than you could.

It is not the 70's, 80's, or even 1990's anymore. People used to complain loyalty is not valued. Well we moved past that! Not only is it not valued, it is seen as a detriment and should be actively punished until the person leaves!

So next time you call somewhere and the guy that answers doesn;t know WTF you are talking about, and you miss that old guy that did, you can thank the revolving door policy modern managers and HR think is the cat's ***. Look at all the money they saved hiring that unqualified youngster, they can do the same job for less and surely they will bring fresh ideas in! In reality, they do half the job and are getting paid as much or more than the old guy, and after some time of having a frozen wage they will leave too.

As time goes on, the new workforce has no sense of permanence. Not in their work, not in their employer, not even in there home. Maybe it stems from the lack of home ownership, or the garbage wages that are two decades behind inflation, but the newer workforce jumps ship for a 2% increase and the company they left thinks it's an opportunity, not a loss.
 
Guy in my hometown owed the IRS $500,000 when they audited him one year. He paid a tax attorney $12,000 to get him an adjusted amount of $80,000.

He bragged about the $408,000 he saved for years, and he had the money in his safe the whole time.

This is why there is 8800 pages in the tax code and most of us only require two pages of it.

Tom
 
Just because you have a degree and other accolades hanging on your wall, doesn't always mean you're the sharpest knife in the drawer.
A big part of my career is pointing out mistakes made by those with the degrees, I’m purely self taught. I think I’ve only ever had one person show annoyance that I wasn’t as "educated” them.
 
I have never been questioned about my service call and labor rates, sometimes that makes me feel maybe I am not charging enough. What it really means is that, I give quality service. I have serviced most of these customers for 30 years and hopefully I have 7 more years and if I switch to sales I may retire when they have to take my drivers license.
 
Because I like to investigate, and because I have ChatGTP5 professional (which uses everything for information), and becuase the GE story seemed to be the same, but different $$ and days to diagnose; I had to ask GTP if the story was true (I also wanted to create a LinkedIn post from it):

Short answer: TRUE… with a big asterisk.

The famous “Steinmetz chalk mark” story is based on a real event, but the viral retellings you see on LinkedIn (including the one you posted) are highly dramatized, embellished, and in some cases flat-out fictionalized.

Here’s what’s true and what’s not.


✅

✔ Charles Steinmetz really did consult for Henry Ford.​


Steinmetz—already a legendary electrical engineer—was indeed brought in to diagnose issues with Ford’s massive generators. He worked on multiple consulting engagements for Ford Motor Company in the 1910s–1920s.

✔ Steinmetz really submitted a bill for​

This part is historically documented.

Most accounts agree the real invoice said something like:

  • “Making chalk mark: $1”
  • “Knowing where to make the mark: $9,999”

The dollar amounts vary depending on the retelling, but the sentiment is legitimate and was recorded in contemporary sources.

✔ The core message—expertise vs. time—is accurate.​

Steinmetz was famous for solving extremely difficult electrical problems quickly because of deep knowledge in AC theory, rotating machinery, harmonics, and transient phenomena.


❌


❌ The “5 minutes vs. 5 days, 50 engineers” bit​


There’s no historical documentation that Ford’s engineers spent five days failing before Steinmetz arrived, nor that he solved it in five minutes. The real issue likely took hours or days of analysis.


❌ The “I just need a chair, a notebook, and silence” scene​


This is embellishment added later to make the story cinematic.


❌ The specific “1920 generator outage” story structure​


There’s no primary source describing a dramatic factory shutdown where production halted and Steinmetz saved the day with one chalk mark.


It might have happened, but no reliable engineering or historical paper documents it this way.


❌ The source you referenced (“Inspiring feats… Engineer of Engineers”)​


That AllAboutCircuits article is accurate about Steinmetz’s life, but it doesn’t claim this chalk-mark incident happened in two days.
Your viral story and the AAC article share a theme—Steinmetz solving hard problems quickly—but AAC doesn’t tell this particular chalk-mark anecdote.





True event:
Steinmetz billed Henry Ford $10,000 for a generator diagnosis, justifying it with something like “knowing where to mark it.”
Ford questioned it; Steinmetz itemized it; Ford paid the full amount.


False embellishments:
Most of the framing—five minutes, five days, hand-on-generator silence, dramatic reveal—is creative storytelling added in later decades.


So the story you quoted is based on a real truth, but the details are fictionalized.




Why this matters (and why it spreads)​


These stories endure because they capture a timeless leadership principle:


You’re not paying for minutes of labor.
You’re paying for decades of mastery.
AI, the biggest boondoggle since cryptocurrency.

If you needed it to sniff out the bs in that story, enjoy life in the matrix.
 
AI, the biggest boondoggle since cryptocurrency.

If you needed it to sniff out the bs in that story, enjoy life in the matrix.
True! However, since I was going to use the story on LinkedIn, and I don't want people to miss my message because they are looking for falsehoods.
I get a job, and and then I can buy more parts!
 
Back in the 1980s I went to a service call regarding an open circuit on an alarm system. Within a 1/2 hour I was able to troubleshoot and repair the broken wire.
It was $40 for the service call. The owner said , but you were only here for 30 minutes. I replied, True, but let me ask you, Do you own a soldering gun? No. $15. Solder? No. $3. Voltmeter? No. $20. Any idea how to use these items? No but..
Not to mention my gas, travelling time.
Without another word he got his check book.
 
whatever I say it's worth,and I expect a tip if you want to talk to me at the front of the lineup next time!
I once did a job that took me approximately 1 min. and only charged $500! When you've got an entire movie crew on site ready for a shot and a kinked garden hose is holding everything up well you just tell them you can fix it and give a price,not how your going to fix it and no i didn't put the kink in it!
 
That depends on who you ask ...... talk to the guy whose business I just saved because we came through for him the day before Thanksgiving. Things being what they are, he can buy national equipment more economically from a supply house (which he did in this case) but not many of those supply house sales folks know as much as they should to sell million dollar projects without fuc*ing them up (which they did in this case). His client threatened to sue him out of existence if he didn't ready the new building for the utility hook up on Monday. I know these guys 30 years and no matter I'm going to the wall for them. They were instrumental (along with others) in bringing my company out of the ground and while I will never forget that, I still have to afford a union shop in NYC. They pay big for the turn-key jobs we supply. Now after 43 years I'm one of the only "old guys" left. I still don't try to make all my money with one contract but in the words of ZZ Top "I Gotsta' Get Paid"! I also realize that not every budget can support every price tag, I can't build the city by myself anyway. I have my niche and cater to it. I've found I make a LOT of business friends with this philosophy.

On a related note .......
1764183295128.jpeg
 
I was in Facility Management, from the front driveway to the back fence
we did it all... General Contractor type stuff, trades mostly, but not always,
lots of cabling & computers/hardware set up stuff too, they were clueless how to do most...

Sadly & now Union shops 'auto dealerships' service dept.s
are charging $200+ an hr labor rates, most of the techs aren't certified either
neither are most the service advisors, but they have work experience, knowledge/s
that's what keeps the doors open

It's truly double edge sword

some don't want to pay for a professional in their field & think, "the **** is too pricey"
until something breaks, that they make their money off of

My rates were way too low, I had great relationships with my customers/owners
I wanted to be fair,
I never had an invoice refused to be paid, & paid pretty much on the spot
for facility management...
Rates it started at $154 an hr per., to start
they are not just paying for labor, skilled knowledgeable people,
with years of training in their field, my tools, my trucks, my insurance, my liability
& my knowledge, to know what to fix or even what to look for, to be fixed
or where to find it
or who to call in to do it
If I couldn't, my subcontractor's list was invaluable
depending on what sort of skilled labor,
or the danger factor,
the price went up, from there
or proximity to the general public, PITA's slows everything & everybody down

Just to keep the doors open while working along side the general public/safely
& not interrupt the sales & service, so they can still make their $$$
without my knowledge, or my skillset (had very lil' to do with my engineer degree ever)
keeping the ''ships afloat"/stores open & operating flawlessly
or they can't make **** or do sales etc.

The owner loved me, I solved their problems
& did a shitload of 'honey do's' for their wives, at their homes etc.
when not at the dealerships running a job

I was asked why I charged $2500 a day setting up offsite 'tent sales',
by a GM one time
I then asked them how much did they make that day, using what I set up for them
they'd say 10's of thousands of dollars, profits each day
I looked at him square in the eyes, he had one lazy eye, I said;
"I rest my case, I think I need to raise my rates"
he just tanked me & shock my hand...

They usually never asked me why I charged $2500 a day, for 1 guy on a weekend
just to set up & remove the tents sales, after that
I was really gravey money too, just need to know how to do it & what it took to do it
& who to call, where to get everything, to do the stuff I didn't do, at an extra cost
to the group of dealerships, all paid willingly...

Now if I was to do the same task, I'd charge like at a min. $15k for the weekend
plus material & subcontractors fees & they'd pay it...

I retired I don't work for anyone now...
I sleep way better, but not in the $$$ like I was...
Only part I miss... & some of the people
 
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