We humans are provided with the tools to work for a living from early on in life. Our parents support our education and assist us in choosing our paths because of this. Even those who are unable to educate their kids can still teach them the knowledge and abilities they have so that when they grow up, they can support themselves.
The ability to make a respectable life and, presumably, provide for future generations comes down to developing certain skills, knowledge, or characteristics. Your skills and knowledge are taken into account when determining your pay in the current world of firms and organisations.
Even though there are standards in the business to measure your expertise and skills, you can be working a job where your pay doesn’t meet those criteria. Many of us are unaware of what our pay should be given our qualifications.
So how can you determine if YOU are being paid unfairly?
I’ll provide a few of the factors that can indicate whether or not you are being paid correctly by your current employer in this article.
- Your wage is lower than the standard of the online statistics.
Your income being less than the industry average is the first and most obvious indication that you are underpaid.
Visit websites like AmbitionBox can be used to find out the typical pay for your position. This will help you determine whether or not you are being underpaid.
You may be underpaid if your wage is lower than the average indicated by the internet data.
- You receive fewer incentives than your co-worker’s.
The company where they work offers particular benefits to all of its employees. Depending on the policies of the organisation, this could encompass paid time off, a travelling allowance, etc.
You’re probably underpaid if you notice that you have fewer perks than your co-worker’s.
Due to equal pay, these things frequently may be disregarded. However, if your perks are lower, you are still being paid less than your co-worker’s.
- At your organisation, comparable positions are paid more.
You’re probably being paid too little if your co-worker’s have the same qualifications and experience as you do but earn more money.
Your firm may occasionally need the same level of training and education for positions with a similar title to yours.
But it doesn’t imply you should get paid less for it just because the titles are different.
Therefore, if this is the case, you are underpaid and should discuss this with your employer.
- Inflation is not taken in to consideration in your salary.
No business should ignore inflation, especially when setting a person’s wage.
Therefore, you should factor inflation into your wage. You may be underpaid if you feel that the increase in your overtime pay is not substantial since it does not take inflation into account.
Wherever you work, make sure your wage increases reflect inflation.
- Fresh recruits receive higher salaries.
You are likely receiving insufficient compensation for your efforts to your organisation if you observe that new personnel are being recruited to take over existing positions with better salaries.
- Regardless of the expansion of your company, the salary you receive remains the same.
If you work a job where your pay has stayed the same for a while but your business is experiencing revenue and growth milestones left and right, you are being underpaid.
Companies that are expanding or whose revenue is rising rapidly should also provide their staff raises or bonuses. If your business is expanding but your pay is not, you are being underpaid.
- Your underpayment is disclosed by a recruiter
Sometimes we refuse to believe the truth even if it is staring us in the face.
You will know you are being underpaid if an recruiting professional from a firm or consultant calls you about an employment offer and tells you there’s a chance you can earn a lot more money than you are currently making.
However, if the pay they’re giving seems too tempting to be true, it can potentially be a fraud or scam. Be mindful of that.
In the event a recruiter of any kind suggests it, it’s most likely true even if you like your job and don’t believe your company is under compensating you.
- Although your duties at work have grown, your pay has not.
The accumulation of tasks without a pay rise is a critical indicator that you are underpaid.
You’re probably paid inadequately if your responsibilities have grown since you first started at a company but your pay hasn’t.
You must realise that your employer should adequately reward you for an increase in responsibilities. Therefore, if you have seen a spike in the obligations, you also deserve a rise.
What should you do if your salary is too low?
If you believe you receive inadequate wages based on the indicators I’ve listed in this article, the first thing you should do is figure out how much you are being underpaid.
Do some investigating to determine your underpayment based on your training and credentials. To compare your pay with the wage information posted online, you can examine online websites.
When you are certain that you are being underpaid relative to your worth, you can take the following actions:
- Speak to your boss: Talk to your boss in a collected and cool manner. List the information you have gathered via your investigation. Give evidence why your pay is inadequate given your level of training and experience. Try to emphasise the amount you contribute at work as well.
- Find another job: If speaking with your boss about a rise doesn’t result in one, you should hunt for another position. Once you locate the ideal position, look for better organisations and chances that will give you the income you deserve. Then, once you’ve left your current employer, go on.
In our opinion, your wage should be in accordance with criteria established by the industry in which you work and should depend on the extent of education and experience.
Make careful to talk with your boss about your pay if you recognise any of these indicators listed in this article. Make sure to acquire the information necessary to support your argument that your pay is inadequate.