Career Tips

Know Your Worth: Don’t Leave Money on the Table in Your Next Role

June 9, 2022

No one wants to leave money on the table when accepting a job or asking for a raise. But what is the best way to know your worth when salaries vary by role, industry, experience and location?

Thankfully, salary transparency is gaining momentum. From employees sharing salaries online to industry studies, it’s easier than ever to see what others are making. 

Here are a few steps to help you uncover the right salary to ask for:

Assess your income needs. 

The salary you go after should take into account your cost of living. That includes monthly expenses, student loan payments and savings goals. If you are moving to a new city, this cost of living calculator will compare where you live now to the new city to see how much you will need to make to maintain your current lifestyle.

Find out what others are paid.

There are several great tools to help you look at salary benchmarks for your role, industry, experience and location. 

  • One of our favorites is the 2022 Administrative Compensation Guide from Maven Recruiting Group, which covers industry averages for admin roles in Tech, Finance and Personal Assistants/Estate Managers. 

  • Another helpful tool is a salary calculator like these from Glassdoor and Payscale

  • It’s also a good idea to network with others in a similar role to get real-world data. The Fishbowl app, online groups, coworkers and LinkedIn are great places to connect with others who can lend their insights. 

Decide what benefits matter.

Benefits can include vacation time, flexible work schedules, maternity and family leave, medical plans, 401K benefits, stock options and more. It can be easier to negotiate more benefits than a higher salary, so it’s important to know your bare minimum requirements and also your dream benefits. 

Getting to your $$

Once you have data in these areas, look at your income needs compared with the industry average for the role in your location, with your level of expertise. If your needs are greater than the average, don’t be afraid to ask for a higher number. Remember, averages are averages. There is only one you! Prove your value to the company, and you can feel confident asking for what you are worth. 

If you need help, we walk you through how to show your value when preparing for a performance review and asking for a raise. Maven Recruiting Group also has a podcast on how to negotiate like a boss.