Compensation is a delicate topic, but one that matters greatly when talking about job satisfaction. Indeed, when respondents in a recent survey by Comparably were asked what would lead them to quit their job tomorrow, 38% of people said they would quit due to feeling underpaid or unappreciated.
It’s normal to question whether the time and effort you put in at work is being adequately rewarded. And luckily, it’s now easier than ever to figure out if your intuition is right.
No matter what your experience or industry, here’s some advice on how to figure out whether you’re being paid fairly, and how you can take action if not.
1. Use online resources.
Do a little research on salary data sites to find out whether you’re being paid fairly. Services such as Comparably go a step beyond, allowing you to search salary data for people who match not only your job title and location, but your experience, age, education and other factors.
It’s also helpful to pay attention to external factors, like the size of your company and whether it’s public or private. For example, a senior developer at a private company earns about $73,000 on average while a senior developer at a public company earns about $130,000 on average, according to data by Comparably.
2. Talk to a recruiter.
One of the best ways to figure out what you should be earning is to have a chat with a recruiter who focuses on your industry; these days, having a recruiter get in touch with you is as easy as checking off a box on LinkedIn. It’s their job to analyze people’s job histories and backgrounds and match them with a job within their range, so they’ll have sharp insight into what you could be earning.
Make sure to ask about similar jobs they’ve recently filled, as those will be some of the freshest in a recruiter’s mind.
Related: How to Tell if Your New Employer Has a Good Company Culture
3. Talk to people outside of your company.
Discussing compensation with people at your company can be tricky — it’s often seen as nosy and intrusive and doesn’t always give you what you’re looking for, as someone might be making more than you simply because they’ve been at the company longer or have one particular proficiency that is especially helpful to the company. They also may have negotiated a higher salary simply because they’re better at negotiating.
Your best bet is to speak to people in similar roles as you outside of the company. Doing this with people you’ve met through networking tends to be most effective, as often in networking there’s a precedent that you’re looking to help each other out. For the most part, you’ll find that people will be more open with you when they feel they can help you (and vice versa), not when you’re directly competing under the same roof.
The solution
If you do find that there’s a gap between what you make and what you feel you should be making, set up a time to chat with your boss to discuss your value to the team (make sure they’re aware of the topic before you come in) and don’t be afraid to reference the market data you’ve found. It’s rarely helpful to ask about why specific people are making more than you, but do be specific about what you know to be true about your position.
Also, be kind. Salary negotiations are best approached with professionalism, courtesy and tact. If you articulate your value and demonstrate that value everyday, chances are you’ll have a better chance of getting what you want.
