Are You Being Undervalued At Your Job?

  • December 17, 2019

If you're reading this, I'm earning money. Thanks for helping to feed my family. Please see our disclosure for more information. Also, any advice provided is for informational purposes only. I'm not a CPA, lawyer, or doctor, although my parents wanted me to be all three. So, talk to a professional before acting on anything you read below.

are you being undervalued at your job

You might have done some research, or overheard a few things, or it might just be a creeping sensation that you have. Whatever the reason, if you think there’s a chance you are being underpaid or undervalued for your job, this is something you need to take action on. With the gig economy booming and more companies than ever offering zero-hour contracts and work-for-hire setups, it’s worth doing your research and looking into your own job role for answers.

Check Out Your Competition

There’s a difference between being good value for money and being cheap. If you run an online store, you consistently get good feedback from your customers and you believe you provide a good product, don’t under-price yourself. You should already be factoring in your labor time and don’t sell cheap because you think it’ll bring in the customers. People will be suspicious if your product is mysteriously $10 less than everywhere else they’ve looked, and they’ll start to think it’s because you’re making it with lesser quality materials, or it isn’t such a good product. Value your time and your product.

Don’t Take it on the Chin

There are times when something is genuinely an accident, sure, but there are other incidents in which you should be owed compensation – and it’s worth seeking professional advice on this. Finding a law firm, such as McGilberry & Shirer LLP, who will be able to discuss all angles of the potential case with you, is well worth your time.

Have a Pay Appraisal Meeting

Everyone finds asking for a raise awkward. But if you’ve taken on more responsibility, or your job role has changed, it’s definitely time to organize a meeting. Follow some advice on how best to approach your manager and pick your time. It’s valuable to have some research to back up your argument. Do you know anyone else in a similar position, or is it possible to find example of salaries from other companies online? Remember, a good manager will be aware of the work you do and how you should be compensated for it.

Assess Your Hourly Rate

Think about the job you do and the time you put in. How much does this actually work out as per hour? Does this work for you? If there are significant other advantages to the job – for example, you work from home, or it’s flexible hours – then do these outweigh potentially low payrates? Does the comfort, ease and flexibility of delivering Uber Eats work better for you as a part time gig than working in a bar? Have a regular check in with yourself about your work situation and how much you bring in – and whether that’s working for you.

Managing your finances is one of the biggest challenges we all face as part of adult life. With so many new businesses popping up and the internet providing an excellent platform to support all sorts of new jobs, you still need to ensure you’re being fairly compensated for the work you do. 

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