Stay Competitive With Jobs Lah Salary Calculator
- February 13, 2024
- Shanthi
- Salary Guide
Every worker starts as a fresh graduate, and your pay may be lower than what is expected of you compared to your friends. You decided to gain experience for a year or two and receive your increment from how long you’ve worked in the company.
But how much does your increment contribute to your salary?
Yearly increments can be between 3% to 10% per year. If your initial pay was $2500 and you received an increment of 10%, your new salary would be $2750. You accepted it, but when your friend who holds the same job as you has a higher salary than you, you start to doubt whether your employer is taking advantage of you.
You Might Not Be Paid Enough
Even if you started with a high salary, there’s always a chance the market for your job title is different than you think. To fresh graduates, the starting salary of $2500 is reasonable despite the market for the title paying more than that.
Salary is based on your education, skills and experience. Typically, degree holders are paid more than diplomas; the more skills and experience you have, the better the benefits and salary. This is common knowledge for everyone in the workforce, but do you know that some employers may pay you lower than the market or starting salary?
Because of this, you need to study the market value of your job title and the average pay you can receive.
How To Find Your Market Value?
1. Research On The Job Market
Reviewing job postings that pique your interest is a good idea to understand better what employers in your field are looking for in potential candidates and the salary they offer. Pay attention to the qualifications, experience, and skills required for those positions. This will provide valuable insight to help you tailor your job search and improve your chances of securing an ideal job.
2. Network With Relevant Professionals
Attending industry events like conferences and career fairs to network with professionals is a good idea. You can ask them about the job market, the skill sets in demand, and what you can expect regarding salary and benefits.
3. Utilise Market or Jobs Research Tools
It is recommended to use market research tools like industry reports or surveys to determine current market trends and salary rates specific to your industry. You can find online resources such as JobsLah to assess your market value. These sites allow you to search for salaries based on your job title, experience level, and location.
4. Seek Advice From Your Advisor Or Career Center
Your university career centre or advisor may have resources to help you determine your market value, including connections to alumni in your field who can offer insights and advice.
5. Identify Your Skills And Experience
Evaluate your skills and experience, including those acquired during your college program and any relevant experience from internships, fellowships, or part-time jobs. It’s best to list your transferable skills in your resume to stand out among other candidates.
These steps ensure you are appropriately compensated after graduation or completing your internship. Additionally, you can use JobsLah’s salary calculator to calculate the salary you’re aiming for the job you want! Look for career opportunities and apply for your dream job today at the best job portal!
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