If you have been a loyal employee for years and your salary has experienced very minimal change, you might have to re-evaluate your worth. Wondering if you are being paid enough is a question that most people ask themselves after a while of being in the job. This can breed feelings of dissatisfaction and send you off in the wrong direction.
So how do you know if you’re being paid enough?
Compare
Who are the main competitors of the company you work for and what are they paying their employees. However, keep in mind that companies are different and you cannot always make a direct comparison, but it does help to know what others in your field and position are earning. Also take into consideration, your experience, skills and qualifications. The best way to negotiate your salary is when you start the job so make sure you have all the correct information and expectations before you say “I’ll take it!”
You have been given bigger responsibilities and roles
If you have been given more work, or promoted into a higher position but your salary has not gone any higher, it is not necessarily the end of the world. You might want to wait it out and truly prove yourself worthy of a raise. If your superiors task you with a bigger responsibility, it could be a test of your potential so do not jump the gun. However, if you truly feel that you are being exploited, consult a professional first, do a comparison, then decide if the issue is worth raising with your boss.
So how do I measure my worth?
Keep a record of all your achievements and accomplishments as these serve as evidence that you are good at what you do. It is often said that people are all the same, what makes them different is their ability to solve problems. There is no job that does not come with problems and challenges as well as the unexpected flops. List some of the problems that you have come across in your position and a breakdown of how you handled them. Also explain how your act of handling the problem at the time, saved the company from losing a client/revenue/its reputation, etc. This shows that you are an asset to the company and will encourage your employer to do what they can to keep you.
I’m being underpaid
if you have done the comparison, have put in the work (and more) and have determined that your worth is far more than what you’re being offered, it may be time to renegotiate. Do not be too quick to change jobs or fall easily for a better offer. First speak to your employer about your accomplishments and present a formal proposal illustrating the data that suggests you are worth more than what you are being paid. Be precise and always remember that your work speaks for itself. You cannot be asking for a raise if your work heeds no positive result.
