Size matters…when it comes to paychecks! 😁💵 Did you find out that you're making LESS than your co-worker who does the same job? You're not alone. Recent pay transparency laws have made it easy to get your Sherlock Holmes on. 🕵️
Wage or salary compression happens when new hires make more than long-time employees. The newbies coming in get paid what the current market suggests, but long-term folks are often left lagging. 😤 If you're not getting regular raises to keep up, you might be making less than the Zoomer sitting next to you.
Here’s Five Fast Facts on pay inequalities and what to do about it:
- 👋 See Ya, Wouldn't Wanna Be Ya - A recent survey from ResumeBuilder.com revealed that one out of every 20 American workers will jump ship if they find out they’re making less than their colleagues.
- 👇💰 Boss Better Have My Money- Researchers also found that if employees' salaries weren’t adjusted to account for the newest highly paid team members within six months, they resigned almost twice as soon as those who received adjustments within the first month.
- 🍩🔥 This Is Why I'm Hot - Before storming into your manager's office, take time to list out all of the things you've done at work that make you an MVP. Remember to include facts and figures and be as specific as possible. For example, talk about exactly how many donuts you made in a particular time frame instead of just saying you can really crank them out.
- 📊 Survey Says - In addition to listing out everything that makes you amazing, do some research on what you're worth. Check out external salary data from sites like LinkedIn and Glassdoor. There, you'll find out how your wages stack up with people in similar roles at other companies.
- 😎 I Rest My Case - Once you're armed and dangerous with information, calculate just how much of an increase you'll need to be happy. Next, schedule some time to chat with your boss and ask for that raise. Remember to back it up with facts and research. Also remember to keep your cool and be as professional as possible. Don't flip your lid!
🔥Bottom line: You deserve all that and a bag of chips when it comes to your salary. If you follow these trusty steps and your employer still won't budge, it might be time to look elsewhere. Need some inspiration? Check out these top paying jobs for 2023!
Did you recently find out you make less than your co-workers? What have you done about it?
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