Most workers nowadays are experiencing job dissatisfaction and turnover rates are reaching an all time peak. Such displeasure doesn’t necessarily stem from employees’ disinterest in their jobs, but rather might be linked to how fair they perceive their salary to be. Whether your salary isn’t enough to meet your demands or you feel like you deserve a pay increment, you certainly have every right to question that. You deserve to be aware of your market worth and to be paid according to it. However, randomly speculating over this matter will not lead you to a definite answer. Instead, by following a systematic approach you can gauge the compatibility of your salary against what you have to offer, and reach a well-reasoned conclusion. In this article, Akhtaboot provides you with a set of relevant factors that you can incorporate into your evaluation in order to make a fair judgment regarding your pay.
1. How much do you work?
First off, you need to ascertain the type and amount of work your job requires of you. Ask yourself: how long are your office hours? How much are you expected to deliver? How demanding is your work and what categories does it fall into?
2. Estimate the value of your work
The next step is to compare your findings to the expected salary of a person who has a similar job to you. Ask around and research to determine the average salary of people in your field and position. Use the conclusions you come at to formulate an overall benchmark that represents the standard salary, and compare it to yours. Also, you might want to try using a salary calculator (many of which are available online) to obtain a rough value as a starting point, however, do not only rely upon that, as it doesn’t consider the specifics of your job and the salary scale in your country.
3. What extra benefits are you being given?
Are you encouraged to take your vacation days and personal leaves? Does your corporation provide medical insurance for you and for your family? Aside from this, do you feel that you belong to this office culture and environment, and do you feel comfortable around your coworkers? Are you emotionally attached to the workplace? All of these are valid questions that you need to encompass in your judgment. Such benefits and perks are valuable and can actually enhance your job satisfaction.
In retrospect to your conclusion, it may seem sensible to request a raise, or even consider leaving your job and searching for a new one. While these are appropriate considerations, you must take into account the possibility that you might be jeopardizing your job security and could end up being unemployed. Therefore, take a deep and insightful look at the opportunities in front of you and reconcile the truth that we are not always given our worth compensation, but this may be all that is available at the moment, and it is better than nothing. Also, if you decide to speak to your boss and ask for a higher salary, make sure that you back up your request with quantifiable achievements so you don’t to appear to be greedy or too demanding. Akhtaboot wishes you the best of luck in your quest to determine the fairness of your salary, and in any decisions you choose to take following that.