Seeking Fair Compensation
Hey Kristin, I’ve been working at my current job for five years now. While I enjoy the work and my colleagues, I can't help but feel like I'm not being compensated fairly for my efforts. Despite not knowing my coworkers' exact salaries, it's become clear through conversations that I'm earning significantly less than them. The pandemic has only exacerbated the situation, with increased work hours and responsibilities due to staff turnover. Despite my efforts to request a raise, I've been consistently told to "wait my turn." I've even considered leveraging a new job offer for better pay, but I'm hesitant to leave a company I genuinely like. What do you advise?
Consider Your Options
Being undervalued and underpaid is a tough pill to swallow, and it’s understandable that you’re frustrated with the situation. You're not alone in feeling this way—many employees are grappling with similar issues in today's job market. The current labor shortage means that employers are actively seeking qualified candidates, and you may be able to secure a higher salary elsewhere. While using a job offer as leverage might seem tempting in the short term, it's not a sustainable solution. Instead of resorting to ultimatums with your current employer, consider exploring new job opportunities where your skills and contributions are more valued.
Alison Doyle, a job search and career expert, highlights the importance of advocating for fair compensation in the workplace. If you’ve already attempted to negotiate a raise unsuccessfully, seeking a new job might be the best course of action. Changing jobs can often result in a more significant salary increase compared to staying put. While it’s essential to secure a job offer before leaving your current position, don’t overlook the value of negotiating for work flexibility and perks that matter to you. Good luck navigating this challenging situation!
If you have more questions about managing your finances, feel free to reach out for guidance. Submit your query anonymously, and I’ll do my best to address it in an upcoming column.
