You’ve been working hard and are anxiously awaiting payday, but are you getting enough salary for the job that you’ve been doing? Are you making as much money as you should? Here are some ways to check if you are being paid fairly.
What’s the market rate for similar jobs?
What are other companies paying for someone of your qualifications? Check online locations to see going rates for someone in your position. It might be difficult to gather the information and the salary might also be dependent on the industry you’re in. High-tech companies might have a higher pay scale than the healthcare industry.
Ask a friend.
Is there someone that you know that is performing the same tasks at another company? What is the salary there? Do you have a coworker that will reveal their paycheck to you? Can you check with someone in your company’s payroll department? Keep in mind that the other person might have more years of experience or additional qualifications – skewing the comparison between you.
Check with a recruiter.
A recruiter is in the know and it’s their realm of expertise to know what companies are willing to pay to hire the right talent. Feel free to contact someone who can give you information on an accurate estimate of your worth.
Has your salary increased?
Some companies have regular processes for increasing salaries. Are these increases doing more than keeping up with the inflation rate? Have your responsibilities expanded without you seeing a jump in your pay slip? Have you asked your supervisor for more money?
Knowledge is power.
A company might be desperately looking for someone with your expertise and are willing to pay a higher price to have you on board. Past knowledge of the same industry is a valuable asset and commands a higher salary. However, some companies might be willing to sacrifice on experience in order to keep their salary costs low and hire someone right out of college.
Whether you plan on changing companies or plan to stay put with your current employer; it’s always a good idea to know your value. You are definitely worth it!
Check your salary today: https://www.dice.com/salary-calculator