What’s your worth?
Worth and value are usually used interchangeably, however, they are actually quite different.
Worth denotes the monetary cost or sale price of an item, while value goes beyond that. Value encompasses intangibles such as time and emotions. When you work for someone you are selling them 40 hours or more of your life every week. What is that worth?
Determine your worth before the point of sale.
What you don’t know can hurt you. Research is essential to properly calculate your worth. Tools such as Glassdoor, LinkedIn salary and Payscale can provide useful crowdsourced compensation information.
Ignorance of your true value will make you settle for whatever price tag is placed on you.
Wait there is more! Industry expertise and specialized certifications require a multiplier. A written analysis of how much SKIN (Skills, Knowledge, Intangibles, Network) you have in the game will bring you clarity.
Fear and doubt are value eroders that will cause you to discount your worth.
The gender wage gap is perpetuated because of Ignorance, Fear and Doubt. If you are not convinced of your worth, how can you convince anyone else? If you have been at your current position or company for over 5 years, it’s a good idea to look at advertised job openings and even attend an interview.
Constant evaluation is the key to proper compensation
Participate in your own valuation, rather than passively accepting the value assigned to you. If you don’t like your valuation, do something about it. It might just be time to Speak Up, Skill Up or Jump Ship.