Are you wondering whether you are being underpaid, sufficiently paid, or overpaid? If yes, then you can get help in answering that question from a site called PayScale.
PayScale is an excellent web service that offers a lot of important feature for people looking for jobs or looking to hire other people. We shall be focusing on the site’s feature that provides a salary comparison between you and others like you in your geographical region.
To begin, you must create an account on the site. This can be done simply by providing an email address and a password. Instead of creating in account in the beginning, you can also create an account in the end, after you have provided all of your information.
The first step involves you choosing the type of salary comparison: whether you want to compare your own salary or whether you want to see how much to pay a newly hired resource (see screenshot above). We shall select the former option.
With that option selected, you indicate whether you are evaluating your current salary or that of a prospective job.
When the salary comparison begins, the first thing you are asked is the job title, your experience in your respective field, and your geographical location.
You can then feed in your salary. You can type in your annual salary, hourly rate, or your monthly income. The currency along with the weekly working hours can both be specified.
In case you get added perks such as annual bonuses, gratuities, profit sharing, etc. you can specify them in the “Additional Compensation” section.
To provide the site with a better idea of your abilities, you can fill out the skills section and the “Relevant Certification / License” section.
If your job involves / will involve a leadership position where you will be supposed to manage other people, you can specify your managerial capacity in the next section.
Moving towards the final questions, the web app factors in the size of the company that you will be working for as well as the time it takes for you to get from home to work every day.
How much time you can get off from work is another important factor that plays a vital role in salary evaluation; therefore the app lets you put in that as well.
The education part, oddly enough, comes in the end; you are asked to specify your degrees and the majors you took.
Age and gender play their own roles in salary setting; this is the final step in the process.
When you are done, your salary and all other information you provided is compared with the salary of other professionals such as yourself. You are shown a graph that places you according your percentile position.
And in this simple way, you can figure out whether you are being overpaid or underpaid when compared to other professionals such as yourself.
You can begin using PayScale over here.