Increasing Your Salary Worth, Is A Science

Employee "A" and employee "B" are both developers in the same code language, went to the same school, and have the same amount in years of experience. So why does employee "A", make more than employee "B"? Aside from the potentially obvious that one of the candidates might write cleaner, and more efficient code than the other; usually it's the way one candidate "played the salary game" better. 

Throughout each person's career- how much they changed jobs, how many times they're promoted, and so on - determined where their salary is, and how it stacks up against their peers. I think the biggest qualm I get when mentoring colleagues or speaking with candidates - is the lack of understanding regarding why professionals with the same talent, are making more than they are. 

Increasing your salary, or understanding how those in your same skill-set class got to a point where they're making more than you - begins with understanding your own expectations and goals. Along with determining what your salary worth is to you. Perhaps you evaluate it by the level of confidence you have in what your skills will bring in value to an organization (whether current company or new company you're considering an offer from), or the amount of change or value you've incorporated in a company can be a factor. Heck, it could be a construed sense of market value you concocted from a myriad of seemingly unreliable sources. Whatever the  method, whatever the source, it all comes down to your negotiation skills, determination, and bottom line. You get to decide what that is. 

I've mentioned it in nearly every article I've written, the markets hot. Technology is number one for lack of qualified talent; but accounting, marketing, operations, and just about everything else are very close seconds. This means the "odds are forever in your favor". Yes, I just went Hunger Games on you. It really doesn't matter who you are, or what your skills are, if you're decent at what you do; you can negotiate a pretty competitive compensation package for yourself. 

Keep in mind- when negotiating, please be fair. As a recruiter for over the last 7 years, nothing turns off a company more than when someone goes buck wild and asks for an amount that's simply preposterous. While the demand for talent is high, any crazy or outlandish requests are going to be laughed at, and you'll lose your candidacy (Though once in a blue moon, and I mean rarely, you'll get a company that will do just about anything short of driving your kids to school themselves- to get you on-board).  Who's to say they, or you aren't totally worth it! I'm sure that statement will irritate a few, and I'm sure to get comments about how no company can define anyone's salary worth (blah, blah, blah). Just keep in mind, I negotiate my compensation and worth too! So I'm taking my own advice! 

When determining the amount you'd need to accept a role or negotiate a raise-

• Evaluate your relevancy of skills to those required for the position
• Qualify/Quantify accomplishments you've gained in your current position that add value or worth to your current company. Determine how that would play into the new company, or into a promotion if you're not making a career move
• Determine your industry relevancy
• Qualify your years of experience to that of the current team (whether at your current company as you chase a promotion, or with a new company as you begin to negotiate compensation)
• Understand that majority of roles are a 5-15% increase depending on your type of skill-set.This can vary largely though depending on the urgency of need of the company, amount of talent in the area with similar skills, etc.. Use these factors when determining amount desired

Always know how important it is to try and gauge what the salary cap is for someone in your role, or the one you're considering. For example - going into a new company; you never want to be the highest paid (unless the company is growing and the financials are stable). You want to be able to grow in compensation as you prove yourself, and that'll be incredibly hard to do if you're already at the max. 

• If you're at the max compensation in  your current role, and have been so for awhile with no potential of moving upwards- you need to strongly consider finding a company that give you that next step in your career. In terms of compensation, and in skill-set development. 
• If you're being offered the max compensation in a new role - perhaps you need to find another company to pursue. Situation-ally speaking, if cuts ever needed to be made, you'd ideally be the first to go (a lot of times it can be even with the consideration of the value you might have brought in your tenure).

Overall, do your research. The more accurate data you have, the better the hoped outcome will have in coming to fruition. Please don't refer to sites like GlassDoor.com - it's just not accurate. Speak with peers, look up like positions on Indeed.com, and use the market to tell you all its secrets! If you're ready for a raise, or your negotiating that salary with a new company; be prepared. 

***Please excuse any grammatical errors - these blogs are written in the hasteful manner of a recruiter with little free time!