For that purpose, you should conduct a professional audit of what you believe you’re worth, either to your current employer or a prospective employer. As part of that audit, identify which forms of compensation you’re receiving in your present position. In addition to salary, they could include the following:
- Health insurance
- Life insurance
- 401k plan and/or other retirement options
- Incentive plans, profit sharing, or performance bonuses
Do you receive these forms of compensation? Do you believe you’re being compensated in an adequate fashion? (If you’d like, I’d be happy to provide you with information regarding the compensation you should expect at your current position and at this stage of your career. Just send an email to firstname.lastname@example.org.)
Below are three additional things to keep in mind during the analysis of your compensation:
- Consider compensation other than salary and benefits. For some people, money IS the most important form of compensation. For others (like working parents) a flexible schedule is more important. Or maybe you value a certain company culture. Some companies even provide legal counseling, a fitness center, and on-site oil changing services.
- No matter what the economy is like, companies want to hire talented people who can help them grow. If you possess the talent, skills, and abilities to do that, then companies will compensate you for it. So don’t be afraid to ask for that compensation.
- If you aren’t taking care of you . . . who is? It’s the goal of many companies to acquire the best talent possible at the smallest cost possible. What that means is this: you’re ultimately responsible for pursuing a compensation package commensurate with your worth.
Be compensated for what you’re worth. If you’re not, take the steps necessary to make that a reality. And if you have any questions, contact me at email@example.com.