How to Determine Your Market Worth

In terms of the job market, a worker’s market worth is the value that they bring to an organization, which is what is used to establish compensation. Knowing your market value can help ensure that you don’t accept positions that are not paying you fairly, as well as arming you with the insight necessary to negotiate. Determine your market worth with these key steps.

Research Similar Jobs

You can start your preliminary research with a variety of online salary comparison tools. Popular resources include: payscale.com, glassdoor.com, or salary.com. These online resources can give you average pay ranges for your profession, industry, location, and sometimes even by company. To get the most out of your research, don’t just search your job title, as not all companies have the same duties for that specific title. Instead, look into all of the jobs that have similar responsibilities and tasks as your background to get a basic idea of an average pay scale.

Consider Company Factors

There is more to compensation than the salary offer. Once you know what is considered a fair market value for your job experience and qualifications, you can decide what specific factors will play a deciding role in your compensation. For instance, a high starting salary may not be as valuable if you’re getting it instead of a comprehensive benefits package. Another example is flexible scheduling options – while a company may be offering a lower salary, the ability to work from home occasionally could save you enough on commuting costs and make for more discretionary income in your paycheck.

Assess the Value of Your Performance

The most accurate method of determining your market value is to quantify your past job performance in terms of actual money made or saved for your employer. If possible, compile actual statistics to demonstrate your proven record of performance. For example, if you’re in the sales profession, metrics about the revenue generated or percentage by which you improved your sales monthly, could help show what you’re worth in actual numbers.

Find the job opportunities that fit your skills, as well as your market worth. Professional Alternatives has been working with candidates since 1998 as a resource to help them achieve their personal and professional goals. We service employers in the Houston area and match candidates with the available positions that are the optimal fit. Search our current open jobs to find your next opportunity.