Thursday, March 13, 2008

Underpaid

I was having a talk with my friends over work and earnings and benefits, etc. We concluded that we always feel that we are underpaid no matter how much we earn. When we used to earn 1.5K less than now, we complained that we were underpaid.. When we earn 1K less than what we are earning now, we complained that we are underpaid. And now after much increment, we still think that we are underpaid... HAHAHAHHAAHHA

So is there really a fair way of calculating how much a person is worth? There were many theories and questions that came out of it:
  • Supply / demand: Just state how much you want. If the employer is willing to pay you that, then that is your market price..
  • Compare with your peers with same qualification and same years of working experience (+/- a few hundred bucks) I think this is what most companies are using, even though I think your qualification and years of service don't really tell how good you are in doing your job..
  • When changing job.. normally companies are only willing to pay 5-20% more than what you are earning... is this fair? What if you current pay is too low? Anyway, that is probably the reason why you quit in the first place! And the new company is still going to pay you low?
  • Compare with your colleagues (who most probably is doing the same job as you), based on their years of service and employment grade/level.. this one is a bit tough because usually people don't share pay info with colleagues... CKP used to say "for your eyes only" when distributing salary or bonus slip... he's a nightmare!
  • More certificate = more pay? How about if you learn the skill yourself and there's no certificate? No extra pay? This doesnt sound right either...

In conclusion, there's no fair way to calculate how much a person worth... as long as you're happy with your pay, then just take it...

Another tips is not to compare your pay with your peers (which sometimes can be hard to resist!)... because no matter what, if yours is lower, it's hard to be objective and you will think that you deserver more, and you'll basically get bad mood...

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