Signs You Are Underpaid at Work
The economy has struggled over the past year with the pandemic, and many companies have been forced to cut costs. One of the most common ways to do that? Offer employees less pay. Unfortunately, this decision can have negative consequences—both short-term and long-term—for your company’s productivity and performance as well as employee morale.
Here are five signs you might be underpaid that will help you make an informed decision about whether or not to speak up with the request.
- Your salary is lower than the online average. Just Google your job title and "salary near me" to find out how hard you're getting hosed.
- Your job duties have changed, but your pay hasn't. New hats should come with new wage increases. If that's not the case, you might be getting bent over.
- Your benefits suck. Benefits aren't just health and dental insurance. They also include time off, or things like 401K matching.
- You haven't gotten a raise in years. You will probably have to ASK for one. Even cost-of-living raises aren't offered for most jobs.
- The company you work for has gotten bigger, but your salary has stayed the same. You have helped contribute to that growth. You're worth more!
If you’re feeling unchallenged in your role, or like what you do every day isn’t as meaningful as it could be, then you might be more likely to look for greener pastures. And if that’s true, it means there may be more room to negotiate a higher salary (with a competing company) than you thought! Consider asking for a raise or talking to your boss about getting a new project or doing something that feels more valuable.