Are You Earning What You’re Worth?

12.06.2019 by Jack H

Trying to measure your worth is a tricky question because how can anyone really know their value compared to the next person. However, whether you’re looking for a new job or looking to start discussions for a pay rise, knowing where your salary lies can be valuable information to know.

As it’s not the ‘done thing’ to just ask someone what they earn (especially in the UK where talk of money is not something we do openly), you need to find another way to work out your worth so aim to develop a range of salaries you can investigate. Pay scales vary widely based on many different factors, so because of this, make sure you find a low end and high end of a salary range similar to your current position.

Check Websites

If you look at job websites such as indeed.com, totaljobs.com, and monster.co.uk, you will be able to find a basic starting range for your job. This is an easy way to find a figure of what you could be paid. However, it’s not as simple as just matching what you find to your current role as remember it won’t be your exact job description, location, or experience.

Ask Around

As mentioned above, it is deemed to be rude if you ask someone outright what they earn so try wording it a bit more subtly to gauge an idea of where you sit on the salary scale of worth. Questions like “is this a normal salary range for this position do you think?” or “ do you think this is an example of a high wage to you?” will give you an idea of what other people in the same company think and give you a clue as to whether you are on the right line.

Speak to the Professionals

As many jobs are governed by professional associations and unions, try contacting them to ask for a general salary range for your role. Most of these organisations will have websites that will give information on salaries and scales which will be helpful and if not, try contacting them directly as it is their responsibility to offer advice and support within your field.

In the Government

If you work for the government, you can find salary information on their website so you can get an idea of how you fare compared to others in your team. There are such a wide range of jobs that fall under the government umbrella that even if you don’t work for the government directly, you should be able to get an idea of salaries on standard jobs such as chefs to receptionists.

There is a direct relationship between whether you are happy in your work and how much you earn as if you feel you are being underpaid and overlooked, then this is going to start reflecting in your job. Signs that you are happy in your role are:

Feeling like you accomplish something: having a sense of accomplishment at work is one of the biggest factors in whether someone is happy in their role or not according to a study done by a recruitment company Robert Half. If you feel that what you are doing is making a difference to the company you work for and that you are royally rewarded for it, then you are going to feel happy in your role.

Make sure you set benchmarks for yourself, so you have an idea of how you want to progress towards goals as if you see that you’re achieving, then you will feel happier in your work.

Having positive reinforcement: if you feel that your work is being recognised and you are being appreciated in your job, then this is a sure sign that you are feeling good about your role. This also ties in with knowing your worth as its not unrealistic to expect that good work is rewarded with bonuses in some sectors, such as finance.

Being aware of good feedback is also key to your happiness at work as some bosses may not outwardly praise you. Instead, they wait for reviews and one to ones. The problem with this is that sometimes they are only quarterly or even yearly, which means it takes a while to hear some praise!

However, if you know that what you are doing is great work and that you are hitting all the right targets, then you just have to keep believing in yourself and telling yourself that you are doing a good job.

You have a good rapport with your co-workers: if an employee is happy with their co-workers, then they are more likely to be happy and productive in their job. This is because some people spend more time with people they work with than family members so if you have a close-knit community at work, this means you are going to be encouraged and happy to go to work.

You have some autonomy: if you have a sense of empowerment in your role and feel like you are given the responsibility to make decisions and work on your own, then you are definitely going to be happy in your job. Nobody wants to be treated like a child and by having the power to set your own targets and work towards them, means that ultimately, you are going to work harder to achieve them.

A job is so much more than a pay-cheque, but there is no escaping from the fact they go hand in hand. If you don’t feel valued in your role financially, then you are not going to want to do your best, for yourself or the company. Similarly, if you are not happy with the work you do, then you are not going to what to be the most proactive you can be, which again, doesn’t help you or the company.

Recognise your worth by speaking to others and doing your research, and if an aspect of that doesn’t feel right, then it’s time to consider a role where you feel you are valued through money and love for the job.

For more finance and money-saving advice check out our the rest of our personal finance blog