What does underpayment mean?
Most people think that underpayment means they are getting paid less than they feel they’re worth.
In reality, however, the market dictates what someone deserves to be paid.
Lack of understanding of what constitutes fair pay for their position: Some job titles do not adequately represent workers’ actual jobs. Employees may also be misclassified and therefore underpaid.
“Being underpaid is frustrating and demoralizing“.
Getting underpaid at work isn’t just unfair, it’s unhealthy. Unfortunately, it’s a common practice in the average workplace. And underpaying employees results in faster turnover and underperformance.
It’s extremely common for working people to be underpaid. When you are underpaid, it means that another employer or even another manager in your current organization would pay you more for your services than you’re getting paid now.
Underpaying staff may have some short-term benefits, but it won’t get you far in the big picture.
In the modern world of corporations and organizations, what you earn is decided upon your qualifications and experience.
While there are industry standards to quantify your experience and qualifications, you might be in a job where you’re underpaid as per the same standards.
If you feel your work has been consistently strong and that you are being underpaid, ask for a raise. Money and self-worth often go hand-in-hand. If you’re not being paid fairly at work, it could easily result in negative feelings that manifest in a number of ways.
There are several signs and symptoms of being overworked.
The most common signs an employee may experience when feeling overworked/underpaid include:
Compare your workload or qualifications to your pay
Has your employer regularly increased your workload and responsibilities, according to your qualification without increasing your pay?
That’s a sign you’re being shorted. Or maybe you have advanced degrees, specialized skills, or in-depth experience you’re not adequately compensated for.
That’s another indication that your paycheck is falling short of where it should be.
Of course, we all want to grow and take on more responsibilities at work.
It’s common to get told you need to step up your responsibilities to ‘prove your worth’. But a large part of the motivation to do that is for a pay increase. If you have noticed an increase in the responsibilities then you deserve a raise as well. But if you realize that you are underpaid.
Let the organization know that you are not happy with the reward decided by them as against the nature of responsibilities being demanded from you.
Your salary is less than the average of the online data
Turn to the glassdoor salary tool to search among millions of real salary reports and find out what people with your job title, in your area, are earning.
If your salary is less than the average of what the online data suggests then you’re probably underpaid.
Stress, depression and problems with emotions
Feeling underpaid doubles the probability that a worker will report experiencing “stress, depression, and problems with emotions” on a majority of days in any given month.
Knowing your Worth is important when you invest your productive 8-9 working hours in a day for a valuable cause or reason.
You make less money than your colleagues in similar positions
If you have colleagues that come from the same educational background and experience but are paid more than you do then you’re likely to be underpaid.
Your salary is the same despite your company’s growth
Your salary is the same for some time but your company is reaching milestones.
You are realizing that the company is growing smoothly, reaching milestones (milestones as in terms of revenue and growth), but you are still in the same place.
Recent hires are being paid more
Employers offering higher wages to new hires.
If you notice that new hires are being appointed to fill existing positions on higher packages then you’re most likely being underpaid.
Here’s how to sleuth out whether your salary is fair—and what you can do about it.
- First, show the manager what you’re currently being paid, then, show the manager or supervisor as much evidence as possible that other people who work the same job are getting paid more.
- Figure out what you’re actually worth by understanding average salaries for people in your role
- Find out the ways how do people move through the salary range at this company?
- Are there certain skills or certifications you can earn that would lead to a pay raise?
Spend some time thinking about what your boss wants, what you want, and what you’re going to do if you don’t succeed, he says. This will help you make the most compelling argument.
And if nothing works, you can look for another job.!