“Am I being compensated fairly at work?”, is a question for the ages. Workers have been asking themselves this question for decades. Since the birth of industrial America, in fact. And it’s not going to fade away anytime soon. However, in the past few years, conversations about salary and compensation “fairness” have become more frequent and more relevant than ever before. The new version of this question is now, “How does my salary compare?”
Just earlier this year, the Fair Pay to Play Act was announced. It states that college athletes have the right to obtain agents and receive monetary compensation for brand endorsements for their work. This includes work on and off the field- or court! This is a big deal. Especially considering the high cost of higher education in the United Sates. For many athletes this policy opens a door to more than just financial opportunities.
The Fair Pay to Play Act and other emerging conversations encourages workers across the country to question their compensation. People are asking, “How does my salary compare?” Peers are becoming more transparent and share this information in order to support one another. So, how can you be sure that what you’re bringing home is actually comparable to those working in the same position?
Start With Some Research:
Companies, like Business Insider, have dedicated teams within their Business Intelligence divisions that are continuously researching trends, gathering critical data, and reporting on the ever-changing salaries of top companies across the world. Comparing and contrasting can give you a good idea of what companies – similar to the one you work for – are paying their employees for similar roles. Specifically, be sure to consider your company size and industry.
Other research institutions compare salaries based on a given location in the United States. For example, salaries in New York City will be higher than in Wichita, KS. This is based on cost of living, demand for specific roles and GDP of the organizations. Glassdoor is another great site which allows you to compare salaries that real employees have reported at a specific company. The site even offers a salary calculator which allows you to select location.
Organizations may also be inclined to share salary expectations for their positions on their job postings. Companies such as Comcast, Amazon, and UPS are extremely transparent about what employees can expect to make while working for them. Look closely for this information. If you see a salary range, there may be an opportunity to negotiate in the future.
Refer to a Salary Guide:
If you’re looking for analysis of salary ranges in your field, look no further than a Salary Guide. Used to provide in-depth analysis of a variety of job titles, salary guides draw data and perspective from both candidates and clients in your field. At Atrium, we utilize partnerships between our recruiters, account managers, and clients to offer real-life insight and the most up-to-date information on competitive compensation in a wide variety of industries.
By doing your own research and looking to salary guides, you will be able to confidently determine if your salary fits your title and experience. Most importantly, this information may help you advocate for yourself in the future. After all, knowledge is power!