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fourth
  Are You Fairly Paid? How
To Figure Out Your Market Value

 
 
 

More than 80% of workers who feel they're underpaid actually are not, according to a new survey of 13,592 people released by Salary.com. Instead, they are either overpaid, fairly paid or holding job titles that don't match the work they do. "Many people think the job title is the be-all, end-all of what defines a job's value," says Bill Coleman, an executive at Salary.com. "Titles are essentially worthless." To get a sense of how much you should be paid, he recommends collecting salary data from a variety of sources, including salary surveys, co-workers and industry associations.

WHAT TO DO: Calculate your worth using our salary search tool and review salaries by industry. Before accepting a new job, compare all components of the offer with your current package. Consider these three tips on negotiating a better pay package, and check out this list of recommended reading on negotiating tactics. Read about why hiring a pay expert could help you secure a better deal.

Are You Fairly Paid?

Salary.com analyzed salary data on people in a recent survey who said they plan to change jobs in the next three months because they are underpaid.

FAIR PAY? % OF RESPONDENTS
Overpaid 17.4%
Paid at Market Rate 34.2%
Underpaid 18.7%
Likely Overtitled 29.6%
Source: Salary.com

 

Email your comments to cjeditor@dowjones.com.

-- March 09, 2006


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