You know by now, my biggest pet peeve is pay. You should be paid fairly. Period.
You should be paid fairly for your industry. You should be paid fairly for your tenure. You should be paid fairly compared to your peers.
Keep in mind that fairly doesn’t mean “the most money ever.” It means equitably. For example, a non-profit may not be able to support the same high salaries that a big corporations provides. But, they ought to be paying their employees similar amounts within their organization (for similar roles).
Don’t you agree?
I’m going to be honest. I think we’re probably all on the same page here. Everyone wants to be paid fairly, right? Everyone wants to be paid based on their results, and their experience — not some other irrelevant detail.
Well, one of the GREAT perks the internet brings is data. And, not just any data — salary data. The internet is cracking open salary information every day. It’s creating an environment that’s more transparent.
It’s giving you, the job seeker, more power! It’s increasing the likelihood that you will be compensated fairly. Yay!
There are a handful of sites with salary data you can use to better understand this worth (and to negotiate for more money!). But, there’s one taking the lead. One that you should pay attention to:
Glassdoor recently released a new salary tool. It’s called the “Know Your Worth” tool and it’s tagline is “Are you paid fairly?”
How much better does it get than that! (Can you hear how excited I am??)
If you want to try the tool, visit Glassdoor.com here.
You’ll be asked to provide your employer name, employer location, job title, number of years experience, salary, education level, university, and major. But, don’t worry — Glassdoor is sensitive with your data. Their site says, “Glassdoor is committed to your privacy. Your market value is only shared with you.”
To figure out if you’re being paid fairly, Glassdoor compares your salary to others in your city, and to those of open jobs in your area.
Below is a sample salary I tested out for a project manager. In this example, the employee is being paid about $13K less than market value, or -16.6%.
How amazing is that? It gives you data to support your request for more money — and a fair salary! I am so excited to share this tool with you!
Please know that I’m not compensated in any way to share the Know Your Worth tool — I just think it’s that great.
Please check it out! And, if you learn something interesting about your salary, I want to hear from you! Let me know what you find out.
114 | International Careers – Interview with Margaret Buj, Head of Digital Recruitment, Connect Digital Group in London, England
Episode 114 is live! This week, we talk with Margaret Buj in London, England.
Margaret is Head of Digital Recruitment at Connect Digital Group. She’s also an Interview Coach, guest speaker, and was recognized as a Power Profile in HR on LinkedIn. She has also worked to place candidates in both the U.S. and in Europe.
On today’s episode, Margaret shares an insider’s view of recruiting, how to negotiate a job offer, and tips for relocating to another country.
To learn more about Margaret, visit her website at http://www.interview-coach.co.uk/. You can also find her on Twitter at @MargaretBuj, and on Facebook at https://www.facebook.com/pages/Margaret-Buj-Interview-Coach/179079935464761.
Thanks to everyone for listening! And, thank you to those who sent me questions. You can send your questions to Angela@CopelandCoaching.com. You can also send me questions via Twitter. I’m @CopelandCoach. And, on Facebook, I am Copeland Coaching. Don’t forget to help me out. Subscribe on iTunes and leave me a review!
Episode 111 is live! This week, we talk with Rich Jones in San Francisco, CA.
Rich is a Technical Recruiter at a large dot com company. He’s a certified professional in Human Resources with over seven years of recruiter and HR experience. Rich also co-hosts the Paychecks & Balances podcast. Paychecks & Balances is a fun-formative podcast covering work and money for the rising professional.
On today’s episode, Rich shares the biggest financial issue faced today by professionals, how to ask your current boss for a raise, and secrets to effective negotiation at a new job.
To learn more about Rich’s podcast, Paychecks & Balances, visit his website at PaychecksAndBalances.com.
Thanks to everyone for listening! if you have questions, you can e-mail me at Angela(at)CopelandCoaching(dot)com. If you’ve enjoyed the program today, please be sure to subscribe on iTunes and leave me a review!
How often have you talked to a friend who hasn’t received a real raise in years and is feeling frustrated? Perhaps you are that person. You’ve been at your company for years, receiving two to three percent raises each time you have a performance review. You know you’re falling behind financially as compared to your peers, but you’re not sure what to do.
Often, employees in this situation will recommit themselves to their work. They decide that if they work hard enough and show their boss how great they are, they’ll be rewarded in a few more years. It feels very personal and somewhat emotional. Hard work means more money.
Unfortunately, this is rarely the case. Unless you are in sales, the issue of money has far less to do with your own performance than you might imagine. Once you’re hired at a company, you become part of a system. The system typically only offers pay raises during review time. And, managers are restricted on how much they’re able to give.
So, what can you do? Some employees threaten to leave. Others argue their value. And, a few present competitive job offers. Threatening to leave or presenting competitive offers is rarely the answer and companies know this. Even if they agree to your demands, there’s still a good chance you’ll leave later – and you may damage the relationship with your company in the process.
If you want to stay at your current organization, your best bet is to make a case for your value during your annual performance review. Even then, you’re unlikely to get the huge raise you’re dreaming of.
In order to truly impact your salary, you have to consider switching companies completely. Big salary increases not only impact how much you make now, but also how much you will make over the lifetime of your career. In fact, Forbes makes the case that employees who stay at a job more than two years make fifty percent less over the lifetime of their career than those who don’t.
Once you’ve decided to change jobs, do your homework. Find out what the going rate is for the work you do. It’s important to know your worth before you begin.
When you interview, you’ll quickly find that one of the first questions a company will ask is, “How much do you make?” If you answer this question, you can bet that your new salary will be based upon how much you’re currently making. To maximize your salary bump, try to avoid answering this as long as possible. One technique is to ask the recruiter if they would be willing to share the salary range with you. This can give you a sense of the pay without disclosing your own number.
And, start your search before you’re so unhappy at your job that you’re ready to run out of the building. The longer your timetable is, the more choices you’ll have and the longer you can wait for the highest paying offer.
Angela Copeland is CEO and founder of Copeland Coaching and can be reached at CopelandCoaching.com or on Twitter at @CopelandCoach
Episode 110 is live! This week, we talk with Aaron Michel in San Francisco, CA.
Aaron is the CEO of PathSource. PathSource is the world’s largest library of online information interviews on video along with a suite of tools to connect the dots between education, career, lifestyle, and budget. PathSource’s mobile app is also rated as the #1 career app in the Apple App Store.
On today’s episode, Aaron shares his tips on using his app to find a job, how to pick the right job on the first try, and tips on salary negotiation.
Thank you to those who sent me questions! You can send your questions to Angela(at)CopelandCoaching.com. You can also send me questions via Twitter. I’m at @CopelandCoach. And, on Facebook, I’m Copeland Coaching. Don’t forget to help me out. Subscribe on iTunes and leave me a review.