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Salary value is one of the most important factors when it comes to finding a new job. It can also be one of the most divisive.<\/p>\n
There are so many reasons why people quit their jobs, but one of the most common is because they feel underpaid. Some people even take it as far as leaving an employer if they aren\u2019t getting paid what they feel they\u2019re worth. The fundamental question that remains is: how much should you be getting paid?<\/p>\n
Before you give up hope of ever being paid what you\u2019re worth, figure out why your present salary is sitting in the bottom percentiles.<\/p>\n
Here are a few possibilities to consider:<\/p>\n
<\/p>\n
For several reasons, job names and descriptions may be incompatible. One is a role that changes with time. This occurs when you start at a corporation with one position and gradually gain responsibilities until you\u2019re performing at a higher level without receiving better pay. Your pay may appear enough for your position, but you\u2019re doing more than you\u2019re paid to do.<\/p>\n
Another option is that your firm is overly concerned with titles. It may appear that having that sparkling title on your resume is a good thing, but when it comes time to find a new job, you\u2019ll have a hard time articulating exactly what you were doing, and why you should be paid well for what you\u2019ll be doing at your new employer.<\/p>\n
Both of these concerns boil down to the same thing: if your job title doesn\u2019t match your skills, you\u2019ll be comparing apples to oranges when determining salary. The best practice is to compare your job against others based on your duties.<\/p>\n
While you\u2019re interviewing, don\u2019t lie about your job title. You could lose a job offer with just one background check due to a disparity between what you reported and what HR would tell the hiring manager.<\/p>\n
Instead, Dawn Rasmussen of\u00a0Careerealism<\/i>\u00a0recommends using a title equivalent to explain your position on a resume. Her example:<\/p>\n
Actual Job Title of Record (Title equivalent), Month\/Year \u2013 Month\/Year<\/i><\/p>\n
Example: Business Development Director (Vice President equivalent), 6\/2003\u20137\/2009<\/i><\/p>\n
<\/p>\n
Only 45% of respondents who classified themselves as underpaid earned less than market rates, according to\u00a0PayScale<\/i>\u00a0research. To put it another way, many people who believe they are underpaid are probably not.<\/p>\n
It\u2019s partly because you\u2019re relying on anecdotes rather than data.<\/p>\n
The problem is that when people talk about salary, they don\u2019t include all of the relevant information, such as their talents and experience, their company\u2019s financial situation and compensation policy, etc.<\/p>\n
Furthermore, a few isolated stories do not constitute a pattern. Utilize a tool like\u00a0Slected.me<\/a>, which provides a compensation range based on hundreds of thousands of anonymous survey responses to estimate salary.<\/p>\n <\/p>\n One major probability is that you started your job with a lower salary value than you could have gotten if you\u2019d been able to ask for more. Salary values are usually computed as a percentage of your current earnings so your future compensation will be determined by that first low salary.<\/p>\n Avoid providing a salary history if at all possible; but, if the employer asks, don\u2019t lie about the facts.<\/p>\n \u201cIf it were me and if I was seriously interested in the position, I would provide the employer with my current salary,\u201d says Alison Doyle,\u00a0The Balance\u2019s<\/i>\u00a0job search<\/a>\u00a0expert and founder and CEO of\u00a0Career Tool Belt<\/i><\/a>. \u201cI wouldn\u2019t want the company to get the impression I was trying to hide my salary history if I was seriously interested in the job. Also, the company may be able to obtain the information anyway as part of a background check.\u201d<\/p>\n Instead of refusing to give information, refocus negotiations around work responsibilities rather than salary history. If you can demonstrate that your accomplishments were worth more than what you were paid, you may be able to negotiate a better salary for your next position. If you\u2019re being paid significantly less than the market rate, chances are it\u2019s because of one of the reasons listed above.<\/p>\n <\/p>\n In the end, it\u2019s worth asking why you\u2019re being paid less than your true value. Are you not negotiating hard enough? Is there something about your work that makes you seem less valuable to the company? If these are issues for you, then it may be time to consider\u00a0salary negotiation tactics<\/a>\u00a0and tools.<\/p>\n Slected.me<\/a> helps you in analyzing what companies are paying for a specific job at a particular location. In addition to location, other factors also influence your pay range, including the industry in which you are working, size of the organization, company size, industry in which your employer does business, and geography. Slected provides you with the salary data based on all the factors mentioned above. 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