There is a question asked in many interviews that is notoriously difficult to answer. If you have ever been asked what your minimum salary requirement is, you know that answering with confidence and poise is a tricky task even for the most seasoned of professionals. Of course, it is difficult because many professionals are unsure of what they are worth. You might have extensive experience in your field yet have a history of low-paying work. Determining your professional worth is an important and surprisingly simple endeavor that everybody should take the time to investigate further.
Once you know what salary you deserve to receive, you can more confidently ask for it. Your earning potential is in your hands, and if you fail to advocate for yourself, you can resign yourself to a lifetime of wages that are lower than what you could be earning. To avoid this fate, try this salary estimator and consider the following factors that impact your professional worth.
- Prior experience. Needless to say, prior experience is one of the most important factors in determining what salary you have the potential to earn at a new job. The salary you have previously earned will likely be taken into account, but the experience in and of itself will also play an important role in determining how much you are qualified to make. If the jobs you have held previously make you an ideal candidate for a new position, this is likely to garner you a higher offer than a candidate with less appealing experience. In either case, however, you can negotiate.
- Track record of success. Employers are looking for candidates who are driven, skilled and likely to succeed. What is the best way of determining which candidates possess these qualities? Employers will scrutinize your track record of success—or lack thereof—both when considering your application and when determining what salary to offer you. If you have accrued an impressive list of accomplishments in prior positions, you should be confident in your value and a potential addition to a new company. Try this salary estimator to see how much you should expect when you are interviewing for positions in your field.
- Unique skill set. At the end of the day, no other candidate can do exactly what you do. You bring experience, success and a unique skill set to the table. Do not neglect to take the latter into consideration when you are determining your professional worth. If you have skills and abilities that make you a unique candidate, this can significantly boost your value to a company—and the professional worth you boast, too. Take this into account when you consider what salary to ask for and what kind of positions you are qualified for. Your unique skills are an asset.
Your worth as an employee is ultimately determined by a range of variables, so there is no single formula to calculate an exact figure, but you can more accurately understand your professional worth by considering these factors. Using a salary estimator, too, is a great way to forecast what you should expect from potential employers.