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We all want to be paid what we’re worth (at the very least). But with HR confidentiality so common, how can you work out if you’re getting what you should be, or if you are underpaid?
Fortunately,there are some clever ways you can find out if you’re being underpaid –and do something about it. It will take a bit of savvy and a bit of strategy,but being underpaid is a fixable situation.
1. Research and benchmark
If you suspect you’re being underpaid, do some research about what someone in your position normally makes.
In doing this, bear in mind that you may find different figures depending on the industry information you are able to access. But averaging out those figures for the same role at your current level will give you a strong estimation of what your salary should be.
You can then use this research to see if your salary matches it, or at least falls in line with it — and use the research to base your case for a pay rise if it doesn’t.
2. Talk with your predecessor
Talking to your predecessor will helpyou figure out if you’re being underpaid because they can give you an insight into how fairly they thought they were paid. If the predecessor is no longer at the business, try connecting with them on LinkedIn and offer to buy them a drink – even lunch.
3. Recall your hiring
When you were first offered a contract for your job, how much money were you offered and did you accept the first one?
Reviewing your hiring circumstances will give you an insight into whether or not you’re being underpaid as your employer may not have made their best offer right away and would have expected you to negotiate.
Besides, depending on how long you’ve been in the job and how well you’ve done it, you should have received a pay rise, or even a bonus, by the time you start thinking you’re underpaid.
4. You’re paid less than counterparts
How many former classmates and colleagues do you know that have the same or similar job, experience, and education as you, but earn more than you?
Even if you may only have a broad idea of how much they earn based on industry research of standard pay grades, knowing they earn more than you is an obvious sign you’re being underpaid.This, then, should motivate you to seek a pay rise to equalize your salaries.
5. More responsibilities for same pay
Taking on more responsibilities is likely a goal of yours to show you are deserving of moving up the ladder.
But having this happen without an appropriate pay rise,is an obvious sign you’re being underpaid(and even under appreciated).
So if this happens, stand your ground and talk to your boss about receiving an appropriate pay rise for the extra responsibilities you’re taking on.
6. Delayed review
Performance reviews are how you develop in your career because you get feedback about how well you’re doing and what you need to work on. They are also the time to review your pay.
But, if you haven’t received a review in over a year, you’re possibly being underpaid and under-valued in the workplace.
You should approach your boss about having a performance review and explain why you think you deserve a pay rise.
7. Your boss is evasive when you want to discuss your career path
If you ask for a performance review to discuss how you’re doing in your job and to ask for a pay rise but your boss is evasive about the discussion, take it as a hint that you’re underpaid — and they know it.
Insist on having the discussion. This will let them know that you know something is off and it just may be the position you want to be in to negotiate a raise.
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