Monthly pay has a big impact on employee engagement at work. Most people think that they are underpaid and intended to leave their company. Though some workers may feel that they are paid more than the market rate. But most interestingly many workers are not concern that their pay stacks up against their coworkers and peers at other companies. To know whether your pay stack up or not you need to get real information about your salary in the market and understand the real scenario.
Some employers don’t like to discuss salary among employees. Sometimes they even forbid or discourage talking about salary. They applied some official policy to avoid comparing salaries. However, currently, few companies understand that pay secrecy is the wrong approach. But they are not committed to paying with full accountability and transparency. So, you will not be able to know how your pay stacks up against your coworkers.
Even though everyone is talking honestly about how much they’re making, you may not get the full view. Because it is hard to compare without complete data. When you have all the available information, you may know which skill and additional education might help you to raise your pay. You may take a decision to change job for higher pay.
But never jump to a conclusion that switching to a new job will bring an obvious good result. It may vary from person to person or profession to profession. A software developer may earn more pay premium by switching jobs while an administrative assistant may earn more if they stay at her existing job. However, the big advantage of switching jobs is that your wage gets a chance to adjust with the market rate.