Yes, you have that job, and everything seems to be going on well, but wait until you hear what your colleagues are earning. You get to realizing that you are earning way less than you deserve.
Feeling like you’re underpaid is so demotivating, and it stands to reason, because everyone deserves a decent pay.
Have you felt demotivated lately? Have you felt like quitting? Well, that could be one of the signs you are underpaid. Read on to find out more.
Signs That You Are Being Underpaid
There’s a Position Like Yours Available with Higher Pay
If you find a job like yours at a company, with the same necessary qualifications and the same description but with higher pay, that is a visible sign that you are underpaid. To stay on top of this, ensure you constantly check and research your company’s job opportunities and find out what your fellow employees are being paid.
Compare that with what you are being paid. Is there a big difference? From this, you should be able to tell if the pay you are receiving is reasonable considering your role and years of experience.
Your Benefits are Less Than Your Colleagues’ Benefits
There are several benefits to keep in mind, such as child care services, health insurance, compensation packages, gym memberships, paid vacation, and so much more. In most cases, your colleagues might not be straight forward in terms of how much they earn.
If they mention anything like going on vacation or having a company cell phone, that is a sign that your company is giving you much less in terms of benefits, compared to your peers.
You Bargained for Low Pay, and it Hasn’t Changed Over the Years
Try to remember how much salary you accepted for your first job. Has it changed much since then? You probably you took a low pay because you were desperate, but what about now?
Have you received any incentives? Has your salary been increased or not? If it has not changed, that is one of the signs you are underpaid. However, note that it is quite hard to play catch-up if you initially bargained for low pay. Play your cards well.
Salary Survey Sites Say Otherwise
Take your time and check salary survey sites to find out how much an average employee with your qualifications, experience, and responsibilities earns. If you find that they are earning more than you, that is a sign you are underpaid.
On the other hand, if you check and don’t see any job similar to yours in the market, that means you are not underpaid. If your boss decided to hire you in your area, then you are not underpaid, because they own the whole local market.
Your Colleagues with the Same Qualifications Earn More
People rarely talk about money. In fact, in some companies’ discussions about money are prohibited. If your colleagues who have the same experience and qualifications as you earn more than you, that could be a sign that you are underpaid.
On the other hand, you are not underpaid if you are not using your experience at your workplace, because employers only pay for the kind of experience they need.
Everyone would like to be paid more than they are already earning; we all can sympathize with them. The critical question here is, are there job openings and companies that will value me more than my current job? Also, what are you looking for in your next job? Is it long-term incentives? More free time? Think about where you want your career to go and what you want. Everyone wants to be paid their worth, but there so many ways you can get paid besides the paycheck.