Ways to Know If You Are Earning Less Salary Than Your Co-Workers
Have you ever felt undervalued? Do you feel like you are not earning enough from work? How do you feel when you see your colleagues or coworkers doing better than you? How do you figure out if you are on equal pay with team members and colleagues? What rubric do you employ to compare your salary to that of others? What comes to your mind when your salary remains the same after years of working in an organization? These questions and more should come to an individual’s mind when they want to try to find ways to know if they are earning less salary than their coworkers.
There are advantages and pros to knowing where you stand in terms of compensation compared to your colleagues. Not only does it enable you to know how valuable you are to the company, but it also makes you know the right time to ask for a raise or increase in salary. Additionally, it will enable you to know whether it’s time to look for new employment elsewhere or not. Although work shouldn’t be about just salary, no one would be happy to stay in an organization that doesn’t value them. Luckily for employees, there are several ways of gathering financial Intel these days.
Knowing how your salary stacks up to others aren’t bad; however, you are expected to go about it the right way. You don’t want to infuriate your boss or employer. Moreover, it isn’t an offense to periodically wonder and try to know whether you are being paid fairly or not. Some signs can help you determine that; however, you might not be able to realize and decipher if you earn less than your coworkers when you don’t know these signs.
Therefore, it is important to try and recognize the signals that indicate that your salary is less than your coworkers’; this will help you to know the appropriate action to take to ensure that your salary matches that of your colleagues. Relatively, it can help you to ensure that your salary is a reflection of your incredible work and contributions based on your education and professional experience. Hence, this article will provide tips on how to know if you earn less salary than your coworkers.
The Best Ways to Know If You Are Earning Less Salary Than Your Coworkers
Researching on the organization’s salary structure should be the first point of call if you suspect that you are earning less salary than others. However, the following tips can suffice;
An online salary calculator suggests that you are underpaid
It is possible to use an online salary calculator to help you gauge whether you are being paid less or fairly as compared to your colleagues. Online calculators are designed to specifically provide metrics that are specific and unique to a particular position in an industry or field. Also, these online salary calculators are programmed to capture your years and level of relevant work experience and qualifications. Researching online to find the average salary can help you determine if you are being paid less than your colleagues.
Your number of responsibilities has changed but your salary has remained the same
Growth and career advancement is the goal of every worker or employee. However, the growth needs to be reflected in terms of salary and other benefits. Therefore, it is important and fair that individuals are adequately compensated for the volume of work and effort they put in. When you discover that your salary hasn’t increased to match the increase in your responsibilities and duties over time, it is possible that you are underpaid or that your coworkers’ salary is higher than yours.
Your benefits are lacking compared to your coworkers’ benefits
Another way to determine if your salary is less than your coworkers’ is when our benefits are less. You may discover that some benefits are lacking after having a conversation with your colleagues. There are perks you can use to ascertain further; these include health insurance, paid time off, and housing allowance for instance. If your benefits are comparatively less than your coworkers, there is potential that you are earning less salary than them as well.
You haven’t negotiated a higher salary
Also, if you have been working in an organization for years and haven’t negotiated nor received a salary increase, you might be earning less than your colleagues. Ideally, you should negotiate a higher salary if you have stayed in the same position at the organization for a few years. Your colleagues might have done that already; however, make sure you go about it the right way.
Similar positions at your organization pay more
You should brainstorm any positions at the firm that have similar professional backgrounds and work responsibilities. If those positions pay more than your position does, there is a possibility that you are earning less salary than your coworkers.
Your coworkers with similar experience and education make more
Take time to reflect on any similarities or correspondence between your documents and credentials and your coworkers. If they make more from work than you and your education and professional experience are similar or comparable, you might be earning less salary than such coworkers.
You haven’t recently had a performance review
Most organizations regularly carry out performance reviews to allow their workers to discuss their growth as employees as well as the quality of their work. If you haven’t had a performance review in a while, then you might be earning less salary. If you notice such, try and schedule and participate in performance reviews; it will give you an ample opportunity to talk to your boss about your salary.
A recruiter indicates that you are underpaid
Job recruiters can provide you with an insight into the average salary for positions in your industry or field. Talking about salaries or industry trends with hiring managers directly can help you determine if you are earning less salary than your colleagues or not.
Positions at the organization that require less experience pay more
A good way to know if you are earning less than other workers is when positions or roles in the organization that require less experience pay more. Hence, look out for new positions in your organization; if such roles require individuals with less experience than yours but pay more, you probably earn less salary than your fellow workers.
Similar positions in your field pay more
Though salaries for your position may vary from city to city, assess your position’s salary data based on your location. Researching similar positions in your area can help you determine whether you are being paid appropriately.
Other indicators that you may be earning less salary than your coworkers include;
- The salary you accepted has not increased throughout your employment.
- Your salary is not reflective of your specialized career.
- Your salary hasn’t accounted for inflation.
- More recent hires are receiving salary increases.
- The organization has a high turnover rate.
What to Do if you find out that You Are Earning Less Than Your Colleagues
Often, we tend to panic when we discover disparities in salary or the organization’s payment and benefits structure; this shouldn’t be the case. You should relax and do the following;
- Try and talk to a trusted coworker; this will help you figure out how others who passed through similar situations were compensated.
- Next, you should negotiate your salary the right way by meeting your manager or employer. Before going into such meetings, make sure you research the average salary structure to use as an alibi.
- If the meeting doesn’t end well, you may want to consider seeking new positions elsewhere.
Being paid less than your coworkers or colleagues is frustrating; indeed, it doesn’t bode well for the employer as well. However, don’t jump to conclusions without adequate evidence that you are earning less. If 4 or 5 of the aforementioned tips apply to you, then it is fine to take steps to correct it. But make sure that you go about it the right way.