Sometimes when you find yourself in a lot of stress or feel as if you are being overworked, you might ask yourself whether you are being paid what you’re worth.
It could be that your peer has said something which makes you believe they are being paid more, or maybe you are just struggling with the bills at home and need a helping hand.
Whatever the reason for checking your wage, it is usually one which becomes apparent when we are having a hard time financially. To find out whether you are truly earning what you deserve for the job you do, there are a few different methods to help you out.
Most of the time the first sign that you are not earning enough money will come from your peers at work.
When you are in a job for a while, your starting salary will start to slowly rise and you will make increasingly more as time goes on.
It can be frustrating to realize that although your pay keeps on rising, you may still be earning what is essentially a starting wage as your increases have barely covered the cost of living. This would result in someone just hiring on in the same role as you earning essentially the same.
In order to make sure that you’re receiving fair compensation for you skills and experience, go online and do some research. For this, a site such as Adzuna can be useful because it will give you the average salary for your job in your area, and this will allow you to see how your pay measures up against the industry standard.
If you do find out that you are underpaid, the next course of action is to talk to your boss and pitch the idea of you getting a raise. This can be difficult and stressful to do so make sure that you prepare thoroughly beforehand and have everything you plan to talk about ready – be informed.
Be sure to explain what you do in detail, show evidence of your skills and accomplishments, and explain why you think you deserve more money.
One of the things you may not have thought about is checking what your value would be if you left your current position and ventured forth on your own.
Freelancing is something which many people are doing these days, and you could find that you would be worth much more as a freelancer in your field than a worker in an office.
If you take some time to do your research and find out how much freelancers earn per hour compared to you, you may be able to build a case with your employer on why you think you should be paid a similar rate.
If you think that you need a little more training to justify asking for the wage hike, then you can always take a course online to learn some of the essential skills you need.
If you think about it, your employer will not be able to pay you the same rate as a multinational company if they are simply a family run business. Before you start asking your boss for a raise and getting angry about your salary, you need to consider the state your company is in, the geographic area and special circumstances that may influence your company’s ability to accommodate higher wages.
It could be that they are in a bit of a struggle at the moment financially, so it is not surprising that they cannot pay you as much as you would like. Perhaps you could be more proactive by presenting possible solutions – within your area of responsibility of course – and by being instrumental in improving your employer’s circumstances, you would definitely have more ammunition when negotiating your pay.
However if you find that your company is successful but it still doesn’t pay you enough, it is worth doing some research to find out why that is and maybe even looking to move somewhere else for your own financial stability.
If you look at your job role as a whole, you might find that you are being paid in other ways which, when taken into account with your actual pay, make your total compensation much more fair. Working in a job isn’t just about salary and benefits.
It’s also about you happiness and the value you place in your job.
Let’s face it, when presented with a choice between a job we hate at higher pay and making less at a job doing something you absolutely love, most of us would choose the job we love – as long as it pays enough to make ends meet.