ajcjobs > BlogBreak > Archives > 2008 > April > 24 > Entry
Keep an eye on your salary
The Atlanta Journal-Constitution
In times of the current election coverage, the President’s salary is a perfect example of how times can change. You have to ask yourself, is the President’s salary standing the test of time if in 1789 the President of the United States, George Washington, made $25,000 annually and today the current President, George W. Bush makes $400,000 annually? More importantly, is yours? The average salary in the U.S. is $36,764; check on the approximate salary for your position and how you compare. Now obviously the salary for positions are based on a number of things, but it is important to conduct competitive intelligence when it comes to your pay. If you don’t keep an eye on how you stack up you may find yourself grossly underpaid.
Keep your salary competitive
Where do you begin in determining a fair salary for your position? You can determine the approximate value for your position by utilizing information that you can easily find online at the United States Census Bureau or through a company such as Salary.com. (This information is also helpful if you are moving to a new city with a different cost of living.) This information should give you a good start to understanding your value to an employer. If your pay falls within the average range, great job maintaining your value! If you come in lower than the average you have some work to get your salary on track. Of course, it is common for a person who stays with a company for a long time, to receive a 4% annual average pay increase each year. This will lead a to a below-average salary after many years with the same employer. Check and make sure you are making the amount you deserve.
Determine the best salary strategy
If you uncover that you are not making the correct amount for your position, do not make any huge changes. If you have a review coming up, consider discussing your compensation more in depth. If you want to make a change, start looking around for other positions while you are employed. You immediately forfeit your negotiation power when you are not employed. Start researching the type of company you want to work for, the position you would like and the direction of your industry - the future. Do not speak of money as the reason you are leaving your position if you determine you need to make that change. Say things similar to, “There is no place for growth in your current position with your current company and you enjoy the challenge of new tasks.” This will be an appropriate answer in your interview in response to why you are leaving and you leave on a good note with your current company. After all, they have been a huge part of your life, no need to end the relationship on a negative note. Remember, with the current trend of companies buying and absorbing other companies, you do not want to burn bridges and then have your old company buy your new company.
So be aware of the average salary in your field. Remember to conduct continuous research on the salary of similar positions. If you determine you are undervalued, get your resume ready for a potential change. Then if necessary, take the next step and start interviewing. The main goal is: Make what you are worth!!
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