In today’s market, it can be tough to know your worth. Skills, years of experience, and educational background are all important factors. However, it’s challenging to guess their value to an employer. It’s easy to worry that a potential employer may be low balling you with a job offer, no matter how great the opportunity. Worried that you’ve been offered less than you’re worth? If so, there are thankfully a few tools to help you determine your value. After you input information about your experience and work history, these websites will crunch the numbers and provide you with a breakdown of your value in $.
PayScale is a company that specializes in every aspect of compensation. They help employers understand the value of their employees and how much they should be paid. Consequently, they also assist professionals in realizing the value of their qualifications, and how they translate into a salary. Their Salary Survey will help you evaluate any situation involving compensation.
You can examine your current job, and see if your salary lines up with what other employees in similar conditions are being paid. You can also evaluate a job offer you have received to see if it is market appropriate. Lastly, you can research a job description to get an idea of what it could (or should) pay. These are all valuable options to explore which should help you evaluate any salary-related situations.
Glassdoor is well known for it’s company reviews and ratings. However, it has many other valuable resources. One of them is a tool that helps you evaluate your worth in the current job market. In a similar fashion to PayScale’s Salary Survey, Glassdoor’s Know Your Worth asks for some background information on you. Once you have entered it all in, the website will spit out a breakdown of your worth in the job market. They also compare what you are paid to the market value, and provide an over/under.
This report is very similar to Payscale’s but it may be worth doing both to compare the results. In addition, Glassdoor also has a number of great blogs and articles available to read. One of the categories is ‘Know Your Worth’. All of these articles are relevant to salary negotiation and discussion. They offer some great advice, and can be read here.
If you’re looking for a job, it’s likely that you’re already on LinkedIn. It’s a great social networking tool that can help you expand your connections. In addition, it also has some great job search features. One of those features is LinkedIn Salary. This tool allows you to compare average salaries within a specific area. It also looks at any additional compensation professionals in these positions may receive, such as a bonus or commission.
It is important to point out that you have to enter your salary to unlock the data. However, this requires much less information than both of the aforementioned tools. If you don’t want to enter a lot of personal data, this is the best option.
Finally, understand that while these reports do their best with data given, it is only an estimate. At the end of the day, you should have a good intuition about your value as an employee. It’s smart to do research, but make sure you consider all of the factors when approaching a job offer or examining your salary.