With constant career demand, provisions and cold hard competition; the variables which comprise local and international job markets are commonly layered with irregular trends when it comes to pay. Consolidating roles is now a common trend where one employee assumes the role of sometimes two or three positions. With employees being asked to take on multiple roles and the applicable responsibilities in line with that position, it is time to question: is the pay appropriate for the job?
Job markets in several employment sectors could be described as fragile, where hierarchy decisions see people losing their jobs in order to enhance other departmental levels of proficiency. This then also constructs a domino effect with regards to workload by condensing task management to focus on a person or group to ultimately heighten that individual performance. It could be argued as equally important to gauge the financial impacts these changes can make on your work lifestyle. Many people are facing salary reductions and increased workloads, which is why knowing whether your salary is appropriate for your position is vital.
Here are 3 top ways to discover if you are being paid enough…
1. Find average salary ranges within your sector
Search online to identify other jobs doing the same tasks and establish how much they get paid. Adopt a methodical approach to your research and catalogue other salaries for the same job. Be sure to examine these in a pedantic move to ensure you are comparing jobs of the exact same roles / duties as parallel as possible. While some jobs online may not state the salary, helpful instruments used here are popular search engines, using the role keywords and also the abbreviation “PDF” in your search criteria could see better results. The easiest way to do this is to look for job vacancies for positions which are in line with what you do, and find out the salary offered.
2. Arrange meetings with recruitment consultants
Recruitment consultants know the sector well and will be in tune with how the market values your position. Recruitment consultants will understand the various pay grades in your sector and will also be aware of how these pay grades are affected by geographical location and experience of the candidate. Build a relationship with them when you meet, they are valuable allies in a fragile environment. Structure your questions correctly to help reach the end goal of establishing your competitive salaries. They also may not be inclined to divulge the exact wage amount, although this obstacle can be overcome using your relationship skills.
Online salary guides can be used to gain a better understanding of what you should be guesstimating. They offer a range of salary information with search criteria not only based geographically but also regulated by professionals who specialise in finding you these answers. Should you require something in writing, contact them regarding your research findings and/or questions which may remain unanswered.
Following the three steps above should land you in a calculated position to determine one of two important variables; whether you are being paid enough and if you are being asked to perform the normal duties for this role. Should you be paid less than the conclusive results, adopt a straightforward approach such as speaking to friends and colleagues to see how others perceive their role. Ask yourself truthfully if there are any actions to be taken, make sure you fully research unemployment trends and just how stable other contending businesses are, before making a decision as to whether you should approach your manager.
Related sources: www.salary.com