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Should Your Salary Be Higher?

Should Your Salary Be Higher?

James Gonyea | Monster Contributing Writer

April 22, 2009

How much are you worth in today’s job market? Does your salary reflect the level of contribution you have been making to your employer? The answer may surprise you, as many employees are seriously underpaid.

The amount of money you receive is, in great part, determined by negotiations between you and your employer. There’s an old saying that goes something like this: “You aren’t paid what you’re worth; you’re paid what you can negotiate.” It illustrates the importance of knowledge in the salary (or raise) negotiation process. If you’re equipped with little or incorrect information about your marketplace value, you’re likely to be underpaid.

The dollar amount employers are willing to pay will vary — sometimes drastically — from employer to employer. It is not uncommon to find two people with similar backgrounds and talents receiving substantially different salaries from two different employers, even though they do essentially the same work.

Determine Your Worth

How can you protect yourself from being underpaid? The answer is clear: Know your worth before entering into any discussion about your salary, and be willing to promote yourself at the appropriate salary level.

This requires you to do some research. Your objective should be to determine the salary range typically paid by employers for someone with your background, experience and talent. Once you have identified a salary range, the final step is to determine where you fit in the range based upon your perception of your credentials.

Sources on Salaries

Where can you find information on salaries? Unlike years past when salary information was jealously guarded by employers and kept from the general public, today it’s relatively easy to obtain. Here are some sources you can use:

Next: Research Via Internet >>


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