Why discuss your salary? First, negotiations work. Showcasing the skill and value you bring to the table and knowing what you’re worth can lead to more money. Whether you’re contemplating a job offer or expecting a promotion, negotiation is key.
But first it’s good to know what you’re worth.
Payroll research can give you a better idea of what figure to expect and what kind of promotion you can expect as you move up the corporate ladder. The best payroll research websites will help you complete your homework in any field. (And most of them are free to use!)
Best Payroll Websites
salary.com
The most popular salary job site, salary.com lists each position in the free salary information field. Their data collection includes cost-of-living calculators, comparison tools and benefit lists, and negotiation tips.
Salary.com is also a career site, providing job listings and advice to those on the lookout. Overall, this is probably the best site for salary information.
Glass door
Glass door known for its extensive company reviews and employee testimonials. The salary search provides data for specific jobs at specific companies, not a general estimate.
Employees share information about salaries, benefits, interview questions, and more—a great insider resource if you’re starting at a new company.
Pay scale
A good resource for new graduates, Pay scale offers a free salary report based on experience, education and other factors. Students should check out his “College Pay Report” for what different majors can expect (and a few tips on negotiating). The career research section includes a career goal tracker with salary data for the positions you desire.
Right
A well-known job site aggregator has a salary search tool. Right allows you to use search keywords in addition to job titles. Since Indeed users can access over 50 million job postings from unique sources, there is a ton of salary data here.
SalaryList
All data about SalaryList comes from official company or US Department of Labor reports, so you know you’re getting accurate information. The site provides payroll data records for existing positions by title, company, and state.
Salary Expert
Data is updated daily Salary Expert offers not only free payroll reports but also cost of living analysis and career potential payroll. You can also look for payroll jobs, which can be a great tool if you’re thinking about changing fields.
Bureau of Labor Statistics
Latest “Handbook of Professional Perspectives” from the Bureau of Labor Statistics (available online or in print) provides payroll data for thousands of jobs, searchable by area.
It’s also a good idea to research any sites related to your field or career for salary data. These sites may have more information on industry regulations, especially if your area is rarer.
What should be considered?
Sites often allow you to search by job title, education, experience level, and location. But how does each factor affect the compensation you should be asking for?
Job title
Titles reflect responsibility and experience. While some companies allow you a bit of freedom in naming your work, others won’t be as flexible. Make sure you clearly understand the responsibilities of the proposed title (or the title you want).
career field
Depending on the profit margin in your industry, the same position may have different salaries. For example, sales representatives may work in multiple areas. But sales reps in high-demand areas like pharmaceuticals may demand more than other industries.
Location
If you live in a place where housing, transportation, food, and other necessities are more expensive than the national average, such as a big city, coastal city, or tourist center, you should earn more.
The cost of living (COLA) comparison offered on many of the sites above lets you know what to expect in your area.
An experience
Experience in your field can increase your value and your salary. Internships can count on your benefit, depending on your duties there.
Read more: 7 reasons to consider an internship before going to college
Education
Having a degree, a period—associate, bachelor, or advanced degree—should raise your salary expectations. It is even better to have a degree in your field.
Where you went to college can sometimes make a difference too. PayScale has a “College Return on Investment” (ROI stands for return on investment) report that analyzes how different college degrees can affect your salary.
If you didn’t go to the Ivy League or a “top” school, don’t write it off! Education is one of the many factors that employers consider when setting remuneration, and the more experience you have, the less it usually matters.
Read more: Go to college or go to work: which is financially beneficial for you?
Special Skills
Whether it’s a program, a type of design, or a foreign language, specialized skills can be lucrative in the job market. Try keyword searching for a unique skill and see which employers are willing to pay more for it.
The point is supply and demand. Workers in higher-demand areas, such as nursing or computer science, tend to have more room to negotiate.
But as you can see, there are many factors that determine the “right” compensation for your work. And there are variables that you cannot control. For example, the racial and gender pay gap still persists. Industries that are in decline or experiencing a temporary financial downturn may not offer as much money.
Tips for Successful Salary Negotiations
Be aware of the range, not a number. This gives you and the company more flexibility and you are likely to end up in the medium to high range.
Know the lowest salary you can live with. Better to have a floor than a ceiling.
Request Benefits such as employer-sponsored health insurance, pension contributions, and achievement bonuses—if your company is less willing to negotiate wages. The benefits may end up saving you more in the long run.
Summary
Being squeamish when talking about money is normal, especially with your boss. Add to that the potential for confrontation and disagreement, and pay raise negotiations can be downright nerve-wracking.
But preparation—knowing what you can expect and what others in the same position are doing—can help calm your nerves.
