You are in control of your compensation and career goals. Do not let yourself get tied down by a salary you're unhappy with if it doesn't align with what is fair for both parties involved- after all, there's no point being underpaid when others may be overpaid!
Salary should match your experience, skills, and training. If it doesn't, then you are selling yourself short. Don't do it! Negotiate a fair salary before accepting any job offer.
What is Compensation?
Compensation is the financial value of the benefits and services an employee receives in exchange for their work. It can include things like salary, bonuses, insurance, and retirement contributions. When you're looking for job and considering a job offer, it's important to evaluate the total compensation package being offered. What are the different types of compensation? And how do they compare to your current situation?
Do Your Compensation Research.
When you are looking for new career opportunites and applying for new jobs, or if you are going for a promotion within your company. You need to start by finding out how much you are worth. It is essential to know how much others are making in your field, or in your level. You can then value yourself compared to the job market. Find out how much other people in similar roles are making per month or per year, so that during your job application process, this will give an accurate idea about realistic total compensation expectations going forward.
Before you enter into any salary negotiation you must know how much your experience, education and skill set are worth on the job market. So, do the research. Find out your market value by simply researching the going rates. Find out what is appropriate in terms of compensation. Consider benchmark salaries, industry salaries, previous people in that role, transferable skills, day to day actual accountabilities of the role. Use this information to figure out a concrete number where you want to end-up, and then aim higher. The better equipped you are with that information the better prepared you will be to feel confident in your request for the salary that is right for you. Make sure to emphasize your accomplishments and value during the negotiation.
I have done some research and compiled a list of useful links to conduct your salary research:
Payscale.com is a job site that offers salary information and job matching services. This website is a great resource for job seekers who want to know how much they can expect to earn in their new job. The website also offers job matching services, which can be helpful for job seekers who are not sure what type of role they want to pursue. Take the PayScale Salary Survey, and get a free salary report with an appropriate range for the position, industry and geographic location.
Find out if you are being paid fairly. Adzuna.co.uk has built a salary checker tool to help job seekers negotiate salary. The tool can tell you how much you are worth by scanning your CV and looking at different attributes such as education, experience, job skills, employers, and using that data to calculate a person’s market rate. Adzuna is also a job site that offers job seekers access to job postings from a variety of sources, including job boards, classifieds, and company websites.
Glassdoor.com is a job and recruiting site that offers an inside look at company reviews, salaries, and job listings. Glassdoor also allows job seekers to anonymously share their job experiences with others. This can be a great resource for job seekers who want to get a sense of what it's like to work for a particular company. The website also offers a salary estimator that gives employees a clear idea of the raise you should be asking for, by giving you an objective figure to compare your current salary against. You simply enter your job title, location, years of experience, and a few other pieces of information to get a personalized estimate of what the market value of your skillset is.
Related: 7 Job Search Hacks to Get You Hired
Why you Should be Paid Your Worth?
You should be paid your worth for a number of reasons. First, you need to be able to support yourself and your family. Second, you deserve to be compensated for your skills, experience, and training. And third, you need to be able to save for retirement and other financial goals. When you're evaluating a job offer, make sure that the compensation package is fair and reflects your worth.