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How would you define market value? How would you know your actual worth?

You can easily research the job’s salary range. Your goal is to find typical job salaries for people with similar experience and skills in your industry. Fair-market value is not one standard number, but a range. It is a composite of three components: your objectively researched value, your individual value and your future value. Once you know the job title and perhaps the job description, you’ll be able to understand the present going rate.

The Internet in general, augmented by your library’s subscriptions to data, should give you enough data to get a fix on the current competitive rate. Your individual value for your special training, assets, skills, competencies, etc., that are of value to your employer. Finally, take into account any long-term rewards like profit-sharing, performance bonuses, raises, stock options, etc., that are part of your package to determine your future value.

Blending these numbers gives you negotiation power. Instead of “Here’s what I’d like,” you can say, “Here’s the range of what others are paid, and why I should be paid the top of the range.”

But at the end of the day, for some, its not always about money.  Set your priorities and define your career.

Email: This email address is being protected from spambots. You need JavaScript enabled to view it. (Civil Infrastructure Sector)

 

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