Are You Being Paid Enough?

In today’s fragile jobs market it’s not uncommon for employees to take on multiple roles and responsibilities, working harder than ever. With lay-offs and consolidation of employee roles, this may prompt you to ask yourself whether you are being paid enough. Making an exact determination about your salary can be somewhat difficult in the shifting employment landscape; however, there are several strategies you can employ to determine if your salary does in fact reflect today’s market value.

Look at salary ranges on job listings and the web in general. Utilize job boards and the web to your advantage. You can search for job ads by profession and state and can cull salary information from these postings. While not all job postings will list salary ranges, many do.

Visit salary sites such as Salary.com. These online salary tools provide a range of salary information, broken down not only by profession but also state, and can provide a framework for compensation levels.

Set up informal meetings with recruiters or other hiring managers. While discussing your credentials, this is also an opportunity to ask about average salaries for someone in your role and with you level of experience. While you may not immediately be looking for a new position per se, these open discussions can provide an opportunity to obtain the information you seek while offering recruiters a potential candidate for future job openings.

Ask friends or colleagues in similar roles or companies. While many people may not be comfortable talking about how much they earn specifically, if you frame your discussion around the salary ranges in general, this may provide enough information to determine if your pay scale is comparable to others.

Determine whether salary alone is the main reason why you stay in your current job. Pay scales should not be defined by salary alone but also include all the other benefits your job may provide. This should include 401K plans and employer matching, stock or other incentive bonus programs, and medical plans.