Let’s face it, most of us thing that we are underpaid. We all work really hard and feel just don’t get properly compensated. But at the end of the day, we get paid what the market will bear. Before we ask our manager for a pay increase or try to look for another job that pays more, it is important to understand what we are worth based on the “going rate” in the market. There are many factors to consider: education, experience, job responsibilities, the Country State/City you work in and the company you work for. There are a few sites that can help provide some guideline. With job search, it is always a “buyer’s market”.
As mentioned above, there are many factors that drive compensation. And while tour compensation has a huge impact on your productivity and job satisfaction, there is no hard and fast rule to determine if you are truly underpaid. That being said, if you think you are not fairly compensated, then it is worth evaluating where you stand.
The following will impact your compensation:
- Years of experience.
- Education level.
- Where you work.
- Job title.
Warning signs that you are underpaid:
Company recruiting ads offer higher paying jobs.
It’s been more than one year since you’ve received a raise.
Job opportunities pay more for similar experience.
The sites listed below should help you determine where you fit based on your peers.
Glassdoor.com – The “know your worth” section of this site provides a salary calculator (just provide some basic information). The site analyzes your total compensation and compares it to your peers and the market. The analysis also provides job opportunities that match your job title. Glassdoor also provides company reviews, job search and job search resources. Definitely worth a look, but you should compare other data as well.
Payscale.com – Start with the “What am I worth” link. You can look at your current job, evaluate a job offer or research a job. Pick the link and enter all of your information (anonymously). The site provides a number of measurements and comparisons. The site also provides several tabs of listings of other sites that provide similar information. While it is not as comprehensive as glassdoor.com, it is easy to use and very fast.
Indeed.com – Most of us are familiar with Indeed.com but many do not know that Indeed also provides a free salary calculator. Once you clicked the salary link you can you search salaries by company or job title. After entering very basic information, you can continue to drill down and refine your search.
Salary.com – Last, but not least is salary.com. This site seem fairly easy to use, type in your title and the location and follow the links from there. You can register on the site (or use it without registering). It offers a salary wizard as well as links to additional resources (such as job resources, relocation advise and several other resources).
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Good luck in your search,