What Am I Worth at Work?

Wednesday, May 15, 2024

Knowing your worth is the first step to getting the salary you deserve. Whether you’re negotiating for a promotion or applying for your first job out of college, you should have a clear idea of your market value before having a conversation with an employer about compensation.

Historically, at least in the workplace, salary information was something to keep hush-hush, but times are changing. Now, with various salary calculators available online, you can easily figure out what you should be making compared to your colleagues or other professionals in the same role.

10 Best Salary Calculators to Help You Know Your Worth

One of the simplest ways to gauge your value within your industry is by using a salary calculator. Note that salary calculators are not the same as paycheck calculators. Salary calculators such as Glassdoor's help you understand how much you can earn depending on your location, experience, education level and other data. Paycheck calculators typically show your income after federal, state and local taxes.

Here are the top 10 salary tools to help you know your worth within the job market:

  • Bureau of Labor Statistics Occupational Employment Statistics
  • Glassdoor
  • Salary.com
  • PayScale
  • Comparably
  • O*Net OnLine
  • Monster
  • The Salary Project
  • Salary Expert
  • Indeed

Bureau of Labor Statistics Occupational Employment Statistics

Data source: Employer reports

The Federal Occupational Employment Statistics program creates wage estimate data for more than 800 occupations at the national, state and city level. They're based on the results of a government survey of employers administered every two years, which means the data prioritizes accuracy over timeliness. This source informs the U.S. News Best Jobs rankings.

Their Career One Stop Salary Finder and Occupation Profile tools allow users to search for salary information by occupation. With these tools, you can see how much others in the same role are making in your area and whether you’ve been settling for less than what you deserve.


Data source: Employee reporting

Glassdoor.com is best known for its company profile pages, which allow employees to anonymously post qualitative reviews about office culture, benefits and hiring interviews. Profiles also contain salary ranges for different job titles. This data is self-reported by employees, and employers cannot change it.

Glassdoor’s salary calculator called Know Your Worth provides users with a personalized market value estimation based on information such as years of experience, current base pay and geographic location. Besides base pay, Glassdoor provides information on how much additional pay, including bonuses and benefits, you should be earning. For access to additional insights, however, you must create a free Glassdoor account and answer a few questions about your job.

Glassdoor calculates a base salary estimate using algorithms that learn from data offered by employees and third-party sources. Employers can elect to contact Glassdoor to provide more accurate information, and if they do, the posted salary will be labeled "employer-provided."

Full article @ https://money.usnews.com/careers/articles/what-am-i-worth-at-work