Feeling like you are not getting fair compensation can impact your morale and productivity at work. However, prematurely asking for more money can backfire and hurt your reputation.
Knowing some strategies for assessing how your compensation compares with other people doing your same job can help you make an informed assumption.
Verify employee classification
One of the more common reasons that people do not get paid enough is because of misclassification. This could happen if your employer lists you as an independent contractor even though you meet the requirements for classification as an employee. If your employer neglects to pay you overtime wages, this too could impact your compensation.
A good place to begin is to look at your job description and employment contract. Both of these documents can provide insight into your pay and what you can expect for compensation. If you suspect that misclassification is to blame for pay discrepancies, you should voice your concerns to your employer right away.
Other methods of verifying that your employer pays you enough involve comparison. Talk with your colleagues and see if you can glean information about what they get paid. Use compensation websites to learn about the average rate that others with your experience usually get paid. If you feel like your employer pays you unfairly, CNBC suggests that you set up a meeting with your boss. Prepare for this meeting. Highlight your accomplishments and the reasons you feel your pay inadequately reflects your value to the company.
Unfair pay can impact your career and have long-lasting repercussions. If you cannot find a reasonable agreement with your employer and you have evidence of unfair pay, you may consider working with an attorney to take legal action.