How to Get Paid What You're Worth
Thu, 12/04/2008 - 10:54.
in
I recently negotiated an accounting contract with a large company which I got through a local headhunter – we went back and forth, until I finally accepted a rate that was a little less than what I wanted. After starting the contract, and ‘poking around’ a bit, I realized that the rate I accepted was less than the previous person who had the position, and significantly less than the company’s standard contract rate. How did I feel?
Well, stupid and annoyed. First of all, I let the headhunter talk me into accepting a lower rate and secondly, I’m now cheaper than the previous person who didn’t quite work out. Why do we sometimes accept or stay in positions for less money than we want?
Self Worth
We may have self-worth issues and not feel we’re good enough.
Fear
We could have a fear of being unemployed or not being able to pay our bills. Talking about money is difficult and we may feel awkward about asking for more money.
Comfort
If we’ve been in a position for a long time, there’s a level of comfort with the tasks we’ve been doing for so long and we may not want to change companies. Let’s face it, changing jobs is stressful.
Are these things surmountable? How do we get what we want?
Here is a brief guide, and issues I will consider when I look for my next contract:
It’s Nothing Personal
For the most part, you are a budgetary line item. Companies want to minimize this cost as much as possible which means they won’t be inclined to pay you what you’re worth.
Be Debt Free
If you don’t have many bills to pay, the company will need you more than you need them. You can just tell them to bugger off if their offer isn’t enough.
Do Your Homework
Research what everyone else is getting in the same industry or better still, find out what the company has paid previous employees or contractors. There is always a way to find this information out!
Getting the Sale
Headhunters make money off you and they want the sale. If they quote a lower rate to the company they’re hiring for, there is a greater chance that you will be hired.
Don’t wait and find out that everyone else is making more than you.
There’s nothing worse than working and not feeling well-paid or appreciated !
If you like this post, then subsribe for free updates HERE or click on the bright orange logo on the TOP RIGHT section of my blog. You can also sign up for free EMAIL UPDATES, as well
RELATED POSTS
Deciding Your Rate as a Contractor
Changing Careers
Trackback URL for this post:
http://www.thestrump.com/trackback/171
Copyright 2008-10, SIZEABLE MEDIA, INC
PRIVACY POLICY
SITEMAP
Receive new posts by RSS
Getting paid what you're worth
This is a big issue for those of us who freelance as editors, and it's the main reason I quit working as a freelance writer. No group, except for part-time university and community college faculty, is more shamelessly exploited.
The reason for this is that the woods are full of wanna-be writers who will work just for the ego boost of seeing their bylines in print. As a professional (in my case, I'd worked for many years in magazine staff jobs and published four books and more articles than I can count), you're competing with people who cheerfully will accept absurd underpayment. Publishers actually have several payment rates, which they use according to their estimate of how big a sucker you are.
At one point I decided I would not write a feature-length article for less than $350 (this was some years ago), and I started turning down assignments that didn't rise to that rate. One new editor at a city magazine, who called me and asked me to take on such an assignment, expressed her embarrassment at having to offer an unacceptable payment...and her amazement at the fact that she had found reasonably competent writers in the area who would work for that. And there's the problem: you're competing with people who a) don't know what their work is worth and b) don't care.
Getting Paid What You're Worth
It's a similar problem in accounting - there are people that will do the work for fairly cheap but who aren't qualified.
Companies think they are getting a 'deal' but I don't know how many times I've had to go back and clean up.
What's the point of saving a few thousand dollars on salary, only to deal with mistakes in the tens of thousands?
Tom
Post new comment