Salary Worth: How Much is Your Worth?

If everyone had been satisfied with the pay that he got, the world would have been a much different place but that is not the case. People tend to think and in some cases rightly so that they are being grossly underpaid. The catch is that in most of the cases people go asking for a pay raise before even determining their salary worth. They just go straight in and ask for a raise. This creates a problem for people who are in genuine need of a raise and are ignored by managers as just another person who has over estimated his salary worth. The concept of salary worth is very simple: It is the amount that you deserve to get for the work that you do for your company.

Broadly understood, the salary worth can be determined as the market value of the work that you do for your company that you would have gotten had you been working as an independent contractor. There are however a number of other factors which count towards the salaries worth. This includes your work experience, your educational background and the work that you have done in your individual capacity. Consider these factors in detail:

Your Education
Having a graduate degree is a key factor to counting your salary worth. If you hold a Masters Degree or still advanced degrees, which involve research work etc, you would be in a much better condition to negotiate. Additionally it becomes important if you hold your domain specific certifications or education say if you are in IT administration field, having a MCSE would count to increasing your salary worth.

Your Skill Set
Your skill set is determined based upon your capability to deliver results. This includes your ability to handle the normal as well as complicated situations that you would encounter in the position that you are working in. At the same time, it also considers those skills where you need some improvements. In the same wake you are also judged based upon the kind of conditions that you have handled. This is different from your overall experience as here your entire work life is not counted. Rather the specific conditions that you might have handled including crisis management etc.

Your Overall Experience
Perhaps the most important aspect of your salary worth determination is the overall experience that you have. This includes the number of years that you have been working in the industry as well the role that you now have. This includes if you have managed or are now managing the team and at the same time the recognition that you have gained in the industry.

A number of other, secondary factors are also to be considered while determining salaries worth. This includes you stability factor, your shining contributions, the degree of job stability that you offer and the advancement that you have had in the company. Your current salary, your benefits as well as the industry and company payment norms are also counted in calculating your salary worth.

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