October 27, 2018
Are You Being Paid What You’re Worth?
For many of us, the answer to this question is no. Unfortunately, we’ve been conditioned to accept the status quo. Why? Because getting more than a standard bump up in pay takes gumption. You have to be upfront with your boss and negotiate your pay based on your skills and experience. And—maybe the scariest part—you have to be willing to leave if you don’t get the pay you desire.
How to know if you’re being paid appropriately
In every work setting, employees doing the same job are getting paid different amounts. It’s inevitable and has to do with when you were hired, what the company was willing to offer at that time, what you negotiated and how much your annual rate increases have been.
To determine what others are earning in your field, you need to do a little sleuthing. It’s never appropriate to just ask your fellow employees what they make. But, you can go to websites such as indeed.com and glassdoor.com for an idea of what others have reported as their salaries. You can also check out the Bureau of Labor Statistics for information about average earnings in your field.
How to get paid more
If you feel you’re not well-compensated, it’s time to have a conversation with your boss. You’ll want to do this well in advance of your annual review so if he or she wants to bump up your pay, there’s adequate time to discuss it with Human Resources.
One of the best ways to negotiate your salary is to talk to your boss about how you help the company address its pain points. Do your homework so you know exactly what challenges your company is currently facing. You can say specifically what you’ve done and how it’s helped—and include numbers if at all possible. For example, “My work on [name] projected helped our company save $xx dollars in 2018.” You must also propose what you plan to do over the upcoming year to specifically help the company solve XYZ challenge—just be sure you’ll be able to keep your promise!
Be prepared if the answer is no
If you truly think you’re underpaid, then it doesn’t make sense to stick around. If you’re brave enough to have the conversation about pay, you should also be willing to look for something else if you can’t get paid what you’re worth.
Work with a staffing agency
By partnering with a staffing agency for your future employment, you’ll be able to talk to a career advisor to determine how to find a new job that meets your salary requirements. He or she can also help you determine what others in your field typically make, and what jobs are currently available that match with your skills and experience.
Check out Inter-Connect!
We work with candidates in the Tri-State area for positions in light industrial or office/administrative. To learn more, contact us today!