Your Salary: What Are You Worth?
Why is it a good idea to determine your worth? Whether you plan to stay at your current job or seek employment elsewhere, your assessment of your worth can become a bargaining chip should you choose to negotiate for higher compensation. It's a reference point on your way to improving not only your standard of living but your sense of self as well.
There are many ways your worth is determined for a particular job. One way is to look at your current earnings. That will at least tell you how your boss or company views your worth. Another way is to find out what the average job salaries are for people performing the same functions as you. Still another approach is to use a salary calculator to look at a salary comparison based on several factors including industry, geography and of course the level of the position itself. If you are interested in that approach, salary.com has a neat formula for calculating salary. You can go to their site for more information: http://www.salary.com/home/layoutscripts/homl_display.asp
If you want to make a lot of money, I suggest you look to your true worth. In most cases, your true worth is far greater than your current compensation. Your worth can be defined by what you bring to the table that is unique and valuable. Look at the skills, strengths, core competencies, marketable assets and accomplishments you can declare as your own. This is what describes your uniqueness. It is what differentiates you from the crowd.
Keep in mind that no other person possesses these same unique gifts. The things in life that are rare tend to be worth more than those things that are bountiful in nature. Extending this concept further, the rarest thing is a one-of-a-kind, which is priceless. There is nothing else like it. Have I just described you?
Having said that, what number would best describe your worth? Once you have arrived at a number, communicate this with your spouse or best friend for validation. You may be surprised by their response.
Salary negotiations based on your true worth take on a whole new dimension. No, you probably won't be compensated one million dollars; however, I have seen twenty to forty thousand dollars added to starting compensation through aggressive negotiations. It is common to negotiate signing bonuses, stipulations calling for substantial six-month performance-based increases, several weeks of additional vacation time and many other perks.
You have probably worked very hard to come to this point, so why stop short of getting what you truly want, and deserve. Wouldn't you rather be compensated on the basis of what you're worth than on some arbitrary figure designed to keep the status quo? Remember, what you receive now becomes your benchmark for future positions. Go for what you are worth 'your life will never be the same!
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About the Author
David Richter is a recognized authority in career coaching. His extensive knowledge and experience gained from many years in recruitment, outplacement and career management has allowed David to formulate powerful strategies anyone can use to secure interviews and receive offers. David holds Masters in both Engineering and Counseling Psychology.