You’ve probably heard the saying, “Know your worth and ask for it.” Turns out, that’s sage advice whether you’re negotiating a salary or looking for a new job.
In today’s tight labor market, companies are eager to find and keep the best employees. According to one survey, 78 percent of employers said they are willing to adjust salaries to meet their desired candidates.
So how do you know what you should be earning?
Sites like Payscale.com, Glassdoor and Paycheck.in offer calculators to help you determine what a fair salary would be for your position.
Additionally, if you’re not happy with your current salary, don’t be afraid to negotiate. Many employers are willing to adjust salaries to meet their desired candidates, so it never hurts to ask.
Negotiating salaries can be tricky, but it’s important to know your worth in the current job market. Glassdoor Economic Research Analyst Amanda Stansell shares five facts about negotiating salaries that will give you the upper hand when asking for a raise or looking for a new job.
- 1. Employees who negotiate their salary earn an extra $5,000 per year on average.
- 2. Women are less likely than men to negotiate their salaries, but they still earn more when they do.
- 3. You don’t have to be a skilled negotiator to get the salary you want. You just need to know your worth and be confident in asking for it.
- 4. Salary negotiations are typically handled during the hiring process, but they can also happen after you’ve been offered a job.
- 5. The best time to negotiate your salary is when you have a job offer, but you can also negotiate if you’re already employed.
What is your personal brand?
Your personal brand is how you want the world to see you. It’s the collection of all the things you do and say – both online and offline. Managing your personal brand is important because it can help you get ahead in your career.
There are a few things you can do to make sure your personal brand is on point:
Be AUTHENTIC
Don’t try to be someone you’re not. People will see through it and it will damage your credibility.
Be CONSISTENT
Make sure your branding is consistent across all platforms; from your social media profiles to your website.
Be PROACTIVE
Don’t wait for people to come to you. Make sure you’re actively promoting your personal brand wherever you can.
Be PATIENT
It takes time to build a strong personal brand. Don’t expect results overnight.
Knowing your worth and how to negotiate
One of the most important aspects of your career is ensuring you are paid what you are worth. Often, people shy away from negotiating their salary because they feel they may be asking for too much or they do not want to seem ungrateful. However, if you do your research and know your worth, you can confidently negotiate a salary increase.
Salary negotiation is a skill that can be learned.
It’s not something that comes naturally to everyone. You have to know your worth and be comfortable asking for more.
The first step is to do your research. Find out what the average salary is for your position in your area. This will give you a good starting point for your negotiations.
You also need to be prepared to make a strong case for why you deserve a raise. Show your boss how you have added value to the company. Point out specific accomplishments that you are proud of.
It’s important to be respectful and professional during the salary negotiation process. Stay calm and don’t get defensive. Thank your boss for their time and consideration.
If you don’t get the salary you want, don’t worry. There are other ways to increase your income. You can ask for a bonus, a better performance incentive scheme, company sponsored executive education or more paid vacation days.
Salary negotiation is a skill that takes practice. If you don’t get the salary you want the first time, don’t give up. Keep trying until you reach an agreement that works for both you and your employer.
Knowing When to Quit Your Job
Quitting your job is a huge decision. It can be terrifying, but it can also be liberating. So how do you know when it’s time to quit?
When it comes to our careers, most of us will face the difficult decision of when to quit. It’s never an easy choice, but sometimes it’s the best thing you can do for yourself. Here are a few tips to help you know when it’s time to move on:
- 1. You dread going to work every day.
- 2. You’re constantly stressed out and feeling overwhelmed.
- 3. Your passion for your job has faded.
- 4. You’ve stopped growing and learning new things.
- 5. You don’t feel valued or appreciated.
- 6. The company is going through tough times and you’re not sure if you’ll be able to keep your job.
- 7. You’ve been passed up for a promotion or a raise multiple times.
- 8. Your workload has increased significantly, but your pay has stayed the same.
- 9. You have a strong feeling that it’s time to move on.
Related Post: When is the right time to start looking for a new job?
Know Your Worth To Plan Your Career
It can be hard to know your worth in the job market. Sometimes it feels like we spend more time looking for jobs than we do actually working. And once you have a job, it’s hard to know if you’re being paid what you should be.
There are a few ways to figure out your worth, and the first step is understanding what factors go into calculating it. Once you know that, you can start finding ways to increase your worth.
Salary is only one part of the equation, and there are plenty of things you can do to increase your earning potential.
Consider the following factors when figuring out your worth:
- Education and experience
- Skills and talent
- Industry and company size
- Location
- Demand for skills in the market
Numerous online calculators can help you estimate your worth. Ambitionbox.com, Paycheck.in, and Glassdoor.com are all good resources.
Salary.com’s annual survey of what people are worth found that, on average, people who hold at least a bachelor’s degree make $1.5 million more throughout their careers than those with only a high school diploma.
The site’s report also showed that women continue to earn less than men, even when they have the same level of education. The average woman with a bachelor’s degree will make $1.2 million less than the average man with the same degree over her career.
Salary negotiation can be a daunting task, but it becomes much easier when you have a good sense of your personal worth. Knowing what you’re worth empowers you to make decisions about your career and your life that are best for you. It enables you to ask for what you deserve, and to walk away from a job offer that’s below your market value.
Getting a professional assessment is a better way to know your worth. A career coach or expert can help you determine your market value by looking at things like your skills, experience, and education.
Knowing your worth as an employee is all about ensuring a fair deal: both for yourself and your employer.
- Are you getting what you deserve?
- Does your employer get a competitive return on her investment?
Both these perspectives are equally important when you start investigating your worth as an employee.
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