5 Ways To Know If You Are Being Paid Less Than Your Coworkers

5 Ways To Know If You’re Being Paid Less Than Your Coworkers

Well, if you think it’s time to ask for a raise of your salary, it is important to compare yourself with your coworkers and understand your value to the company. You need to think if you really deserve an increase in your pay scale. But before you ask for a hike, you need to know the 5 things about where you are falling on the pay scale and why?

Know Your Worth

Try to know your worth and salary estimation with online tools help. There are several latest online tools which take a note of your job title, employer, current salary, location and years of experience in your position and the current market value and let you know the right pay scale which you deserve. These online tools will also help you in finding your colleagues salary scales with your same qualifications are earning. This will tell you if you are being underpaid or overpaid. You can also think if you need to ask for a raise. You can determine the compensation package, value benefits, equity or stock options and the perks of the job.

Go Through Job Listings

Most of the job listings list the salary range for the position or salary while they are advertising. We see this as a common practice with government jobs but is also being seen in industries frequently. So, you can use find such job listings and know what other companies are offering for your positions. You can use job listings as a tool to evaluate if people with the same role are earning more or less than you.

Check With Your Coworkers

You can speak with your coworkers and know where are you on the pay scale. It is better to think of the pay range rather than specific numbers. You can even talk with your boss about the compensation and try to get a rough idea of your salary. But make sure that companies don’t want its employees to compare salaries.

Read Reports or Reviews

You can also go through the online reported salaries or reviews by browsing. If you feel bad to discuss salaries with your coworkers, you can always check the online salary reports or reviews which are being offered by several websites. You can research pay rates at your company and also you can check out competitor’s stats. You can know if your company is offering generous compensation to you or the other companies are good at paying more for your positions. You can even visit online salary estimators and access which company pays how much to its employers. But, you need to be sure about the location/city where you are working.

Know With Your Professional Network

You can use your professional contacts and know the salary scales in your industry. Your professional networks may consist of recruiters or others who can estimate the salary scales easily. It is better to talk with these folks and know about the salary ranges with conversations over a coffee. You never knew if you are being overpaid or underpaid on your industry.