Perhaps you’ve been casting that murderous sideways glare at your boss after having had yet another unsuccessful negotiation over your proposal for an increase in your current salary. With countless poisonous thoughts brewing in your head, you are now plotting with a vengeance the best way to assassinate your heartless superior.
But before you commit the ultimate crime of your life, stop for a moment and consider the possibility that your manager isn’t really the mean machine you think he or she is. In fact, he or she may have perfectly good reasons why he or she just can’t grant you that raise you’ve always wanted.
There are so many factors that influence the figure which appears on your payslip every month. Some of them can be considered common knowledge (such as the present financial performance of the organisation you work for), but there may be several other contributing determinants that you have overlooked. Here are some of them.
Market forces. As with all other things in a free economy, competition really complicates things. Most companies nowadays are forced to comply with the prevailing rate that is practised in the market in order to entice workers to apply for a particular position. Furthermore, if your industry happens to be one of those that is heavily regulated by the government, employers will not have much say when it comes to the amount you get paid as they would need to comply with local laws and regulations imposed on them.
On-the-job responsibilities. This is one of the principal influences which impacts your salary figure. Quite obviously, the more responsibilities you bear, the more money you will receive in your bank account every month. Besides that, if specific skills or experience is required for your work, it may earn you higher remuneration. Jobs that involve a high level of risk also typically promise higher pay.
Experience and education. Paper qualifications might get you the interview and subsequently the job, but relevant experience and job skills will ensure that your salary keeps increasing. However, don’t forget that this has to be matched up with consistent and satisfactory performance at work, in addition to increasing efficiency, and more skills and knowledge.
Rising costs of living. It really isn’t your employer’s fault whenever the economy decides to go on a slump. So, it’s not reasonable to expect that there will be adjustments in your salary to accommodate these increasing living costs. In certain cases, there may be changes made to your payslip, but don’t always expect it. The presence of a trade union within your industry might bring you hope by enforcing this on employers, but most solo efforts by employees usually prove futile.
All in all, it’s only fair to say in your employer’s defense that not everything is within his or her control when it comes to deciding on how much compensation should be given to you. Therefore, I hope you can now see that there is more to your salary determination than you realise. So think twice about stabbing your boss in the chest.
If you think you can get more pay by leaving your job and joining another company, the same principles apply. You need to justify a pay increase from your current one.
Are you facing a frustrating salary predicament? Could it be due to any of these factors I’ve mentioned? Or is it for another reason that’s not listed above? Tell your story – drop me a comment.