Salary Trap

Gary North

Are you overpaid? Underpaid? Paid just enough?

How do you know?

Your boss pays you whatever he thinks you're worth, but he doesn't think about this often. Ha hardly thinks about it at all. He expects you to think about it.

Do you?

How do you know what you're worth? There is only one reliable guide. What would it cost your boss to replace you?

Do you know? He probably doesn't. He is guessing. His philosophy is this: "Let good enough alone." You are not a squeaky wheel. He figures you don't need any grease.

Squeaky wheels either get greased or get replaced. It pays some wheels to squeak. It pays others not to squeak. Which kind of wheel are you? You owe it to yourself to find out. There are steps you should take to find out.

You should always have your resumé on-line. Use www.Monster.com and www.CareerBuilder.com.

You should attend at least one trade show per year to sell whatever it is you sell, including your services.

You should subscribe to at least two trade journals, and then monitor the "help wanted" category.

Find out where you are in the wage hierarchy. If you can see that you're not being paid what the market says you're worth, prepare an exit plan. Then approach your boss and tell him you want a raise. Don't do this if you don't have an exit plan. This probably involves applying for a job and getting an offer.

Do this every time you ask for a raise.

If your boss doesn't have to pay more to replace you, don't ask. Instead, look for a way to escape the salary trap.

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