QOTW: How Much Are You Worth?
March 30, 2010 | Filed under Money, Uni/Work
Question of the Week: How much do you think you’re worth?
I’ve been pondering this question lately, and basically, I don’t think I’m getting paid enough for what I do. I:
- am two years out of my undergraduate degree
- am in my second year of a postgraduate degree, a Master of Human Services Management
- have proven myself to be academically gifted
- have been in the workforce for eight years – e.g. have eight years of work experience to call upon
- have proven myself in my role – showing that I have the capability of fulfilling two roles in one
- am more than dedicated and hard-working, with ten to twelve hour working days a normal thing for me
With all that in mind, I think I deserve more than my current rate of pay. Averaging my two part-time salaries, I earn $45k a year gross (with tax concessions as I work for not for profit organisations). I should be earning no less than $52k as a 23 year old, at this point in my career. It’s not an unreasonable salary – I keep a constant eye on the jobs market, and positions like my own are advertised in that salary range.
So what then? I’m asking for a significant pay rise at my annual review in June. If I don’t get it (whether it be due to budget issues or reluctance on the part of the board), I’m going to start looking for alternative jobs that will pay me what I deserve. I’ve already indicated that I will be doing so to the organisation, so they already know that if they want to keep me, they should start negotiating the budget.
I’m slightly greedy, but honestly, I didn’t pay for tertiary education (and I’m not continuing to pay for it!) just so I can continue to earn the type of money I would earn if I worked full-time in retail. It’s about time I started to earn an adult salary.
6 Responses to QOTW: How Much Are You Worth?
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I always feel very awkward when thinking/ talking about my salary or a payrise, I suspect it’s a British thing because most people I know are the same.
Good luck when it comes to your pay review, working out how much you’re worth is the hardest part and you’ve already done that.
Tanya on March 30, 2010 #
As long as you’re a valuable asset to your company, they’re most likely going to do what it takes to keep you. If not, I’m sure you can find somewhere that will pay you at least a lot closer to what you deserve, considering all of your qualifications. Good luck!
Arwen on March 30, 2010 #
I feel awkward whenever talking about how much my hourly wage is going to be – I work temporary full time during the summers (for the same company, so far, the upcoming summer will be my 5th summer with them). And it’s always feels weird to bring it up. When I started there, I was still in high school, now I’m in university, but haven’t graduated and I do very basic work for them (data entry, for the most part), but I do compare it to equivalent job listings to make sure that I’m being paid fairly.
Although, just curious, when you’re going to be asking for a raise, will you be asking for a specific % over a period of time or just flat out adding on $X to your annual salary?
Michelle on April 1, 2010 #
I don’t base salary on age.
If I did, I shouldn’t be earning what I earn, doing what I do and not working like mad.
If you can see similar jobs touting higher pay — use that as your ammo when you go into negotiations.
FB @ FabulouslyBroke.com on April 2, 2010 #
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