It used to be taboo to talk about money, but there are lots of ways now to figure out what you should be getting paid. And if you aren’t getting paid what’s fair, we’ve listed some ideas to fix that.
While meritocracy — the idea that you achieve success through hard work — may be evident in previous generations, it doesn’t necessarily work that way anymore in the fast-paced corporate world. Sometimes people are paid unfairly, especially among different sexes, and skill development and education aren’t always equally rewarded. Given we spend such a large proportion of our lives (up to a third) working, it’s important to know your skill level and your worth so that you can keep ahead of the game when it comes to compensation. Plus, having your skills recognized builds self-esteem and confidence: two key elements that regulate our sense of well-being.
Here are three tips to ensure you’re being paid what you’re worth:
- Subscribe to industry publications and websites: Not only can you keep up to date with advances in your industry, you can also check the job section to see what the market rate is for your role.
- Speak to recruiters: While you may not be actively looking for a new job, it’s a smart move to keep an updated resume with a few recruiters. That way, if something that matches your skillset comes up, you’ll know what is available and how much you would be compensated.
- Talk to peers and coaches: Networking within your industry cannot be underestimated. It’s helpful to know peers in your industry. You can share opportunities with one another, or honestly compare compensation and benefits.