The industry standard salary is a common phrase used in every job description. However, it can be perplexing for a candidate to evaluate the wages concerning the work. When you step into the corporate world for the first time, it can be hard to determine if you are paid less or more.
Legal aids such as the Equal Pay Act protect you from discrimination in pay. Moreover, it enables you to negotiate and achieve fair compensation. However, it is essential to know the salary range for the job position before stepping into the interview room. How do you do if you are being paid or offered reasonably?
Here are three ways to evaluate your salary to get paid fairly.
Check it with your industry peers
Asking around about salary may not seem a comfortable option. However, it can save you from being underpaid. Due to the new pay transparency laws, you may inquire about the company’s salary range. Knowing the salary range is essential if the stated salary aligns with the industry standard. You may ask industry peers having a similar role in the same or other companies.
Enquiring about salary range from the company’s employees may also help you gain insights about the company culture and other Nitty-gritty inside facts. This information equips you with the points to negotiate the salary with the HRs of the company.
Look up Company reviews
Employer branding has become an essential component of talent acquisition. Knowing the review of the company from their employees helps you evaluate their job offer. Therefore, you can find existing employees or ex-employee talking freely about the company in the public domain.
It is essential to know whether the employer has a good reputation. Some portals like Glassdoor and social media platforms like LinkedIn are great places to check company reviews. These review sites also provide insights on employers’ treatment, company policies, compensation, and facilities. It also enables you to compare companies. Review sites like Glassdoor and Indeed help candidates explore the salary range of different companies, helping them evaluate the value of their skills across the industry.
Leverage online compensation calculators
Most people end up being underpaid as they may underestimate the value of their skills. Technology has evolved and can help a candidate determine the salary. It assesses the talents, desired job role, location, and years of experience to compile data from different companies to estimate a fair wage.
LinkedIn Salary is a free tool that enables candidates to know the salary range they can expect. Moreover, it has collected salary data of some reputed companies to provide an accurate estimation. This tool comes in handy when a candidate is estimating their salary expectation.
Knowing the value of your skills is essential before negotiating a salary with a professional HR. An HR may offer a lower salary which you can counter if you are well-equipped. These three ways are excellent options to check out the salary range you deserve.
Scaleup365 is a fast-growing platform that provides job seekers with multiple opportunities to work remotely. It is a great space to connect with reputed employers and get paid somewhat as a job seeker. To know more about it, check out their website.