Are You Getting The Wage You Deserve?

You accepted your current job, as it was the best thing to do at the time.

Times change. Since you were hired, you've gained experience, industry knowledge and have become better at your job. The market demand for people with your skills may have changed in favor. So the economic value of the work you do - and the work you're able to do - will have changed.

Yet, I bet your salary hasn't been adjusted every year in line with the market rate for your job. Instead, everyone in your company, your division or at your seniority level, will get an x per cent rise in their base salary this year. The x is arbitrarily chosen by management. The rise they offer will almost certainly be different to the rise you could get by moving to another firm.

If your current job is not making full use of your experience, knowledge and skills, and those assets are in demand and relevant to your work, then the chances are you could get a better paying job elsewhere.

If you're going to put in your 40 or more hours at work each week, you might as well get paid the going rate for that work.

I want to caution you against being a 'loyal employee'. The world is full of good people who have been at their firm for years. They like their job, and are quite good at it. They feel loyal to their company for providing them with an income. They are nice people, but their behavior is harming them.

They don't understand that their employment is a business deal. It's a mutual agreement between self-interested parties, acting in their own interests.

Their company pays them, but it's not out of benevolence. Employees owe no 'loyalty' to their employer. Both parties should be in the deal for what's in it for them. When the deal ceases to be the best on offer, both parties should be willing to move on.

Sadly, there are millions of mugs who believe in 'company loyalty'. They are the ones who foolishly believe that the company will look after their best interests, rather than its own. They are the ones who end up earning less than the market wage, and being taken advantage of by their 'benevolent' employer, deliberately or unintentionally.

Employers don't assess the going rate for each individual job each year. It would be too much hassle. Instead, they only become aware that they're underpaying someone when that person leaves, or threatens to leave. Were they to replace the actual or potential leaver, they find that the market rate for the position is materially higher, and that if they want a person with the right skills, knowledge and experience, they'll have to raise the salary of the position.

Let's be blunt. If you're employer isn't paying you what you could get elsewhere, you should request a raise, or walk.

Now, time to get down to specifics. I want you to check the market salary for your job.

US: http://www.monster.com/
US: http://www.careerbuilder.com/
US: http://hotjobs.yahoo.com/

UK: http://www.monster.co.uk/
UK: http://www.topjobs.co.uk/
UK: http://www.jobsite.co.uk/

Do it now.

Then figure out what you should do.

Will you ask for a raise? Will you apply for another job?

If you're being paid the going rate: what skills, knowledge and experience do you need to move up to the next level?

However your salary measures up, there's something you've now got to do, and your reward will be an increase in salary.