Your Worth and Your Salary – Making Them Equal

Working hard can hardly seem worth it if you’re not earning your full potential. Before you even start salary negotiations, however, you’d do well to figure what you, and your job is worth. We here at PaydayLoansCashAdvance have put together strategies to employ before you start salary negotiations that can help you earn the wages you deserve.

Figure Out Your Worth

Figuring out your worth starts by assessing your skills, your performance, your location and your jobs fair market value. You can always check out what other professionals in your field are making by checking out the median wages listed at the U.S. Department of Labor’s Bureau of Labor Statistics. The site offers an occupational handbook that lists various duties, skills and background necessary for a host of occupations along with the average salaries. The site also offers a section that lists wage data for specific occupations and locations by region, state and metropolitan areas.

Networking with other professionals in your field is another way to keep tabs on the going wages. Rather than outright asking other people what they make, simply ask about wage ranges for what you do and if that sounds like feasible compensation for the work involved.

While the BLS and your network can give you a base rate at which to begin your calculations, you should also review the wages across your state and even your company. Some firms put a cap on the maximum limits they will pay employees and no matter how well you can negotiate salary that cap doesn’t move. Special skills and advanced education can also give you an edge in salary negotiations, particularly if those skills and that education have made you a valuable employee who can go above and beyond others in your field.

Review Your Performance

Just because a handbook tells you that your occupation makes a certain amount of money across the U.S. doesn’t mean you necessarily earned it. Take an honest look at your performance over the past several months, year or even your entire career. If you are honestly doing your best, have a positive attitude and are an employee who is often in the boss’s office for praise rather than admonishments, you may be in line for a raise. It may be time to take advantage of several salary negotiation tips and go for it!

Also note any additional skills you’ve picked up along the way. If the job you do now has expanded from the one at which you are hired, use it as fodder for your salary negotiations. You may also want to make a list of your top accomplishments, any awards, continuing education or other areas in which you’ve grown since your last raise.

Note Areas That Need Improvement

While you’re doing your honest review, make a note of areas that definitely need improvement. Perhaps your performance is lacking or your attitude needs adjusting. Maybe you never take on overtime or make a big fuss when you have to work past 5 p.m. Also honestly ask yourself if you are slacking off on the job. Make a list of everything you get done throughout your day then give it a good, hard look.

Are you really doing as much work as you should or are you spending loads of work time on busy tasks that don’t accomplish much? How much time during an 8-hour day to you actually spend working?

Delivering quality work in a timely manner is also appreciated, and that appreciation can be shown with higher wages. Work on those issues and fix any problematic areas, a move that puts you in a stronger position to start the salary negotiations that can move you to the next level.

Find the Blockades

Areas that need improvement can count as blockades that prevent you from making what you’re worth or even beginning to negotiate salary, and there may be several others. Compile a list of obstacles that stand in the way between you and a higher paycheck. The issues could be with your performance or may come from outside sources, such as a hiring and raise freeze at your company or a boss who already made it clear there’s no way anyone is getting a raise while he’s in charge. No amount of salary negotiation tips can change that type of blockade, but a new job can. Knowing what the problematic issues are is the first step in being able to change them so you can indeed begin to earn what you deserve.

Update Your Resume

Periodically updating your resume, even if you’ve been at the same job for years, is a must. This allows you to add new skills and responsibilities you’ve acquired as well as any new awards, honors and certifications you’ve received. With the updated information right in front of you, it may become readily apparent that you’re now qualified for a different job that comes with a higher pay rate.

Raise Your Rates

Now that you’ve gone through all the background steps necessary to earn more money, it’s time to put it all on the line. Raising your rates can consist of a meeting with your current boss to negotiate salary or increasing your freelance rates going forward or even with current clients. While it may be uncomfortable to ask for more money from clients with whom you’ve been working for years, you can go about it the same way you would at a full-time job. Point out your skills and experience have increased and your performance has been top-notch over the years. One more way to raise your rates, of course, is to find a new job altogether, one that offers wages to compensate what you’re worth.

Networking is great way to gather insight on available jobs and other industry information, and you should be willing to provide the same for others. Rather than competition, see others as people just like yourself who want to do their best and be compensated accordingly.

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