Being chronically underpaid is a problem. Therefore knowing how to tell whether you’re underpaid becomes crucial. Here are 5 signs that will help you know whether you’re underpaid:
- Many similar job listing on the internet offers higher pay.
Be sure to not only compare to those of other employees at your company, but also other company to really figure out a convincible number on how much people with the same skill sets and knowledges you have right now can earn in the whole industry. It can be astonishing how underpaid you found out you are with the current company you’re at.
For instance, Glassdoor once done a survey from all over the country in the States(including Alaska and Hawaii), and found out most Americans are underpaid by an average of nearly $5000! ($4,700 to be precise)
What does that mean?
It may be the time to talk with your boss. It may be time to re-position yourself at the level or a new place that actually reflect your worth. It may be the time to stop compromising yourself, namely, your life. Rise above because most of the time, you’re more than you think.
- Your responsibilities has increased, but your salary barely budged.
If the projects you need to handle or the responsibilities you need to take are increasing and you’re not getting extra day-offs or compensation in any forms. It may be a sign that you’re underpaid.
If your boss is putting more jobs on you without talking about any increase in your paycheck or time-off, there’s something wrong. By the same token, if your boss just changed your job title without changing the numbers on your paycheck, that’s triple wrong because the additional time you need to sacrifice is not paid.
- Your firm’s revenue has taken off, but your salary stays the same.
Finding out financial figures of a company can be a solid way to tell whether you’re underpaid. If the company you’re at is making more money, it should be a fantastic reason that justify a salary raise on your paycheck.
It may be hard if the company is not public. But there’s still other walk around to figure out. Meet people in the sales team. Get aquatinted with people in accounting for finance department. Simply chat with them and feel the vibe. You’re likely to sense whether the company is booming or deteriorating.
- Part of your mindset is saying: “I’m just glad I’m employed”
Positivity plays an extremely important role in life. But there’s just a fine line between positivity and delusion. Too much positivity without clarifying what’s really happening around the world and where you’re at in it can be detrimental. And you know what, most managers can sense employees’ complacency. They will not actively go out and fight for more benefits for you and make you more satisfied because they perceive you that you’re already loyal to the company.
- You’ve never negotiated your pay.
There’s a saying in Chinese, “Children who cry out loud get candies.” And really is the same thing in essence when it comes to work, if you don’t ask for additional salary raise, the answer is always no because you’ll get none.
The reality is people only care about themselves until someone/something caught their attention. They might spare a bit attention that distracted them, but then will quickly focus back on themselves again. Therefore if you’ve never tried to get attention from managers, they’ll never thought of sparing their time on you. It’s not personal. It’s the same for every employee that they have.
Now, If you’ve found out that you’re underpaid, what can you do?
- Ask for a raise.
It is extremely important to remember that if you don’t ask the answer is always no. Seize your opportunity to ask, support the request by all the great accomplishments and values you’ve contributed to the company.
What you don’t want to say is – how late you have to work or how your financial stress has increased. These are a huge push away to managers because they don’t care at all. Make sure to focus on how well you can maintain your excellent work, what you can do that your colleagues can’t, and how much more value can you be creating for the company in the future.
- Have leverage in the form of another offer
If asking for a raise didn’t work. It is crucial to know that your current company is not the only company you can work for. With your experiences and skillsets, many more options are waiting for you out there.
Why settle for mediocrity when you can advance and deserve better?
The last thing you want to do is to compromise what you’re asked to have right now.
- Start paving a new way that reflect your true worth.
Majority people are taught since kid that there’s a certain path to follow. Go to school, work hard, land on a nice job and work for someone.
What happened to the alternative that we can work for ourselves?
Working for ourselves, building our own business is actually the best way to earn fully on how much we put into efforts. There might be times you need to work more, like what you do overtime for an employer, but you’ll earn more too, which is completely different from what you get when you’re employed somewhere.
Thinking this might be risky? Here’s something to contemplate on a bit: Are you risk taker or do you live life playing it risky?
If you want to achieve financial freedom, it is essential to understand what makes them so different.
Being employed, on the bright side, means you get paychecks. On the other side, being made redundant can happen at any moment in the future when company’s not making enough profits or economic crisis strikes.
One option gives you control over your life and another does not. Now, Do you want to be a risk taker or do you want to live life playing it risky?
You might also want to read >>The incredible harm you’ve never thought a 9-5 can bring to you.