Let’s face it: at the end of the day, no matter how much you love (or hate) your job, you don’t work for free. So, figuring out the salary you deserve is essential. Countless clients come to me about their salary each week – wanting to know how they can determine what compensation they should get (or be getting). Whether you are searching for a new job or trying to figure out if you’re underpaid at your current one, here are three simple tips:
1.) Research extensively
When most people decide to research their salary, they simply input their title into Google and go with whatever figure comes up. But that isn’t always accurate. Your search must be far more detailed. I recommend using LinkedIn, Glassdoor, Payscale, and Indeed to search for your role. Then, input your location, your company, and similar companies. Remember to take benefits, time off, and 401k matches into account (since they are all a part of your compensation).
2.) Speak with other industry professionals
While I know it is “taboo” to talk salary, the times, they are-a-changing! People have never been more open to discussing what they make – and asking other industry professionals what their salary range is too. Best of all, you can do this all online – there are countless private groups, message boards, and forums for you to search on (so your comments and theirs can remain confidential).
3.) Ask the right questions
If you are interviewing for a position, do not be the first to speak about salary. Instead if pressed about your requirements, ask what their budget is for the role. (Do your research prior so that you understand what that position pays and can provide them a realistic number/range.
Remember, when you receive an offer, always negotiate for more. The worst they can say is no.
And, if you are currently employed, talk with your supervisor during your performance review (or before then if appropriate). Let them know what you have found and why you feel entitled to more. You may be pleasantly surprised. Many companies have a budget set aside for such things (knowing that if you were to leave, they would have to hire someone at a higher salary anyway).
Here at the Job Search School, my comprehensive program can help you navigate all aspects of your job search – helping you land a role (and a salary) that you love. Check out my FREE workshop for tips that you can start using right away. And, as always, if you have any questions, you can reach my team and me at [email protected].
I look forward to hearing from you!