How to Figure Out Which Salary is Right for You?

We all need a job. And we all would love a job that pays us what we are worth or even a bit more than that. So, read on if you are looking for a new job or want to check whether you are getting what you are worth. We have collated a few simple pointers on how to figure out which salary is right for you.

Ø  Know Your Market Value

To start, you should know your market value. There are many handy tools you can use for that. Some of them are PayScale, The Salary Project, Glassdoor's Know Your Worth, Salary Tool, LinkedIn Salary, Salary Expert, and Indeed's Salary Tool. The beauty of these tools is that most of them are totally free of cost.

Ø  Go Beyond the Average Pay

Most of the salary tools and websites mentioned above will tell you about the average pay for your role in the industry. At this point, you should remember that you don't necessarily deserve the "average" pay. You might deserve more. If you have a great track record and many professional accolades, your worth would be more than the average pay.

Ø  Experience Matters

The number of years matters a lot when deciding the salary. For example, if you have done the same thing for more than ten years, you deserve higher pay than someone who has done it for 2 years. Similarly, if you have switched career paths and don't have much experience in the field, you will have to start at a lower salary.

Ø  Location is Important

The cost of living varies from country to country and city to city. If you live in an expensive city, your salary will be high as it has to match the cost of living. In contrast, if you live in a small rural town, the cost of living will be low, and the salary offered might also be quite lower than your expectations.

Ø  Education is Vital

Education levels also matter when deciding the salary of an employee. For example, if you have a bachelor's master's degree, your salary would be higher than a candidate who only has a high school degree. Nowadays, online courses also help you bump up the salary, so you better consider those.

Ø  Responsibilities and KRA's

The roles and responsibilities for each designation are different. If you are expected to take on more roles and responsibilities, your salary would be higher. In contrast, if you are expected to take on minimal job responsibilities, your salary would be lower. After all, multi-tasking is a skill every organization expects.

Ø  Soft Skills

Soft skills matter a lot when it comes to getting hired and doing the day-to-day job. If you have a higher number of soft skills, you will get a higher salary. Also, if you have specific soft skills that are always in demand, like leadership and persuasion skills, your chances of getting a job will increase. Learn more about the soft skills in demand in Canada right now here.

Also, read about the top 10 interview questions usually asked and how to answer them here.


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