Did you know employers sometimes pay a premium for the right education and experience? Or that you might be able to earn more by doing the same job in a larger company? In fact, these could be some of your strongest negotiating points in your next performance review, job interview, or request for a promotion.
Employers typically adjust their market data when determining how much to pay a specific employee to do the job. In other words, they price the "space" - the position in the organization - before they price the "face," or the person doing that job. After they determine the value of the position by researching the data on pay practices for comparable jobs at comparable companies, they adjust the data to reflect the employee's background and experience.
Employees now have access to the same caliber data as HR departments, including data that reflects salary secrets like the eight things that can boost your pay.
Finding the Best Data
The data in the Salary Wizard is a great starting point for determining what employers are paying for a specific job in a specific location. The salaries are national averages to which an adjustment has been applied to account for broad geographic differences in pay.
The next step is to dig deeper into the numbers. In addition to geography, other factors have an influence on how much a job pays, including the size of the organization and the industry in which the employer does business. Geography, company size, and industry all affect the value an employer puts on the "space." The Personal Salary Report provides data pertaining to jobs in a specific combination of industry, geography, and company size.
Eight Things That Can Boost Your Pay
The value of the "face" - the person doing the job - is the value of the "space" adjusted for characteristics known to have an influence on an individual's pay. Salary.com calls these "personal variables," adjusting for eight personal variables in the Personal Salary Report.
They include the following: