We all need a job. And we all would love a job that pays us what we are worth or even a bit more than that. So, read on if you are looking for a new job or want to check whether you are getting what you are worth. We have collated a few simple pointers on how to figure out which salary is right for you.
Ø Know Your Market Value
To start, you should know your market value.
There are many handy tools you can use for that. Some of them are PayScale, The
Salary Project, Glassdoor's Know Your Worth, Salaty.com Salary Tool, LinkedIn
Salary, Salary Expert, and Indeed's Salary Tool. The beauty of these tools is
that most of them are totally free of cost.
Ø Go Beyond the Average Pay
Most of the salary tools and websites mentioned
above will tell you about the average pay for your role in the industry. At
this point, you should remember that you don't necessarily deserve the "average"
pay. You might deserve more. If you have a great track record and many
professional accolades, your worth would be more than the average pay.
Ø Experience Matters
The number of years matters a lot when deciding
the salary. For example, if you have done the same thing for more than ten
years, you deserve higher pay than someone who has done it for 2 years.
Similarly, if you have switched career paths and don't have much experience in
the field, you will have to start at a lower salary.
Ø Location is Important
The cost of living varies from country to
country and city to city. If you live in an expensive city, your salary will be
high as it has to match the cost of living. In contrast, if you live in a small
rural town, the cost of living will be low, and the salary offered might also
be quite lower than your expectations.
Ø Education is Vital
Education levels also matter when deciding the
salary of an employee. For example, if you have a bachelor's master's degree,
your salary would be higher than a candidate who only has a high school degree.
Nowadays, online courses also help you bump up the salary, so you better
consider those.
Ø Responsibilities and KRA's
The roles and responsibilities for each
designation are different. If you are expected to take on more roles and
responsibilities, your salary would be higher. In contrast, if you are expected
to take on minimal job responsibilities, your salary would be lower. After all,
multi-tasking is a skill every organization expects.
Ø Soft Skills
Soft skills matter a lot when it comes to
getting hired and doing the day-to-day job. If you have a higher number of soft
skills, you will get a higher salary. Also, if you have specific soft skills
that are always in demand, like leadership and persuasion skills, your chances
of getting a job will increase. Learn more about the soft skills in demand in
Canada right now here.
Also, read about the top 10 interview questions
usually asked and how to answer them here.
Source:
https://www.forbes.com/sites/jacquelynsmith/2012/11/27/how-to-figure-out-what-you-really-should-be-paid/?sh=5efabc45402c