In an organization when you have a discussion with your colleagues within or outside the organization you can realize if you’re underpaid. Networking and friends can help you find out that you possess the same experience and job title and you’re underpaid though you possess appropriate skills and experience. The main reason is that when a graduate enters the job market he is considered as a blank page and do not possess much knowledge about pays. There are many ways and tools to find whether your salary is of the industry norm or you’re being underpaid. Here are a few tips which assist you to find out if you’re being underpaid.
Being Underpaid? How to Know About It:
1. Seeking recruiters help:
A recruiter can be the right person who can help you know if you’re underpaid. A recruiter is one who works the complete day with resumes, and arranging interviews where they also stand out to be the best professional match maker. Recruiters are ones who highlight a candidate’s strength and sell them for the highest possible price. So these recruiters can be the best people to inquire if you’re underpaid. Recruitment agencies can help you obtain the real picture of a graduates worth.
2. Job boards:
You possess the same experience and skill set and if you’re underpaid with colleagues from other organizations, it can be a bit difficult. In that scenario job boards which include craigslist and monster.com can help you out. If sites appropriate to your industry are utilized then it would be beneficial. With the experience and skills a moderate outline of your present salary can be found out. Being underpaid can be a disturbing thought and hence job boards can assist in the same.
3. Salary tool:
Apart from all the above mentioned aspects, an employee can always go in for tools like salary.com which retrieves a rough outcome. The other tools include salary wizard and personal salary report to find out ones pay in the industry. They are tools which retrieve data from employers and employees and offer you salary ranges for various careers. This tool can be an initial tool in your research and can offer you some data for your research. There are many other tools too which helps you to know if you’re underpaid.
4. Foot always live on job market:
In order to know your real value in the industry author Lee.E.Miller says that one needs to be in the job market. By this way, the employee can get to know the skills that are hot in the field and in high demand. The candidate can also know what other candidates are being paid and getting associated to them can be useful. This is another way to know your worth in the industry. It is mandatory to be live in the industry and get to know if one is underpaid.
5. Talking with predecessors:
It can be awkward but mandatory to talk with predecessors. He may not be willing to mention his exact salary but a rough idea can be calculated about his salary after a job search and when he is into a new organization. Emory Mulling who is an executive coach and outplacement mentions that speaking to predecessors is mandatory to know if you’re underpaid. Employment can be null when an employee is underpaid for his skill and experience.
6. Remembering the hiring scenarios:
Miller mentions that the first offers can be best offers by very rare employers. There are few organizations which expect the employers to negotiate their salary, benefits, equity, bonus and more. Networking can be the right way where the people who worked in the company or working can be inquires if that strategy would work. It is also equally good to ask about training as they are beneficial in the future. You can easily find out by networking with friends if you’re underpaid.
When you have a more of friends from the same industry in your place networking them often can be a great way. By inquiring friends in other organizations who has same skill and experience, the real worth for your career can be found out.
8. Company’s revenue rises and still your underpaid:
The revenue and profit of the organization can be enhanced, try to get the actual figure. The companies file financial reports on their growth and earnings. This can be well confirmed by asking your boss in a meeting about the profit of the company. The salary after this must be improved, and in case is not then you’re underpaid and should take steps for updating your salary. An underpaid employee can look through these aspects and confirm that he is underpaid.
9. Salary equal to workload:
An employee can find out if he is underpaid when he is loaded with more and more work but the salary is unloaded. An increased responsibility can be good at work, at the same time a salary hike is also required. In this case your head-haunters can be helpful and deal with your salary issue. You can know your real worth from these head hunters.
10. Realizing your worth:
It is pathetic that many employees undervalue their work. It is important to know the value and worth of oneself. Make a rough calculation about your hourly wage and come to a conclusion, equate it with your current salary and get to know if you’re underpaid. In the same manner, get to know your perks and benefits and frame your salary if you’re underpaid. Know your worth and value rather than expecting any offer being paid.
11. Job advertisements:
Though you’re employed, it is mandatory to run through the job advertisements that are published in magazines and also to glimpse through the latest job sites. These career sections have complete details about the job role, skills, experience and salary that is being paid along with benefits and perks. By having an updated knowledge you can get to know if you’re underpaid. So it is mandatory to have an updated and enhanced knowledge about the present job field.
12. Getting inside information:
It is equally good to know your worth by asking your other co-workers about salary information. There are few companies which has strict rules that are to be followed where they aren’t supposed to release their salary details. Getting together for a walk or drive and getting to know the details can be the right choice.
13. Updating skills:
Update your resume with latest skills, experience and knowledge in the work field. Take the help of recruiting agencies and get to know your current value in the industry. Your state of the art salary can be found out and this shows if presently you’re being underpaid. Companies always try to retain good employees and overload them with work with the same salary.
14. Social communication:
As an employee it is always good to network and have link with other employees of the same field. A food conversation, discussion and having a healthy relationship can be beneficial. There are many social networking sites which can be used for the same purpose and differences in the work field and salary discussions can be achieved. In the same manner attending meetings, conferences and more associations can gain you more contacts and help you get a clear vision.
Researching is one way which can help you to know if you’re underpaid. There are various sites and links which help you know your real worth in the industry. Researching has no end and one needs to research a lot to know if they are underpaid.
16. Speaking to higher officials:
An employee can speak to the higher officials like a manager or HR to know if they are underpaid. This can be a straight forward way and is good to inquire them about salary issues, if the employee is underpaid.
A survey conducted in 2006 states that 39 per cent of employees believe that their salary is less than the present market salary. Organizations try to recruit the best employees and pay a less salary, though they have their organization running in profit. They earn more than desired and need to pay profits and perks to employees. The employees here need to play their role where they need to research a lot and get to know if they are underpaid. There are many steps that can be followed in order to find if an employee is underpaid. Employees have the real worth and hard work but few are innocent about their pay. They need to be keen about their pay as it’s their earning for life. Earning is something which plays a major part in their life. For the same purpose there are many sites which offer complete details regarding salary calculations where employees can make use of them. Being updated about salary packages in the industry is mandatory which determines if an employee is underpaid.