Corporate Survivor with Mei Phing : Career Growth In The Corporate World - Ep109: How to find out your pay gap? 5 ways to research!

Starting point is 00:00:00 Welcome to the Corporate Survivor Podcast, where we talk about how to grow your career confidence, build your skills and value, increase your salary, and the many lessons we learn in the corporate world. For more career support, click on over to www.mayping.com. This is Mayping, your corporate leader turned career coach. I hope you enjoy, like and subscribe. Are you underpaid in your current job? In this episode, I want to share with you the five ways for you to figure out and research the salary that you should be making.

Starting point is 00:00:39 So basically, what is a fair salary for yourself? And this is a research that you should be doing before accepting any job offer or maybe it may help you to consider if it is time to look up for any new opportunities. So if you also stay to the end of this episode, I will also share with you what you can do to continue to increase your value so that you can make more money and get a much higher salary in your future career. So let's dive in. The first method that I would recommend is to go to these anonymous private salary websites. For example, glassdoor.com where you can find a lot of salary information for the industry, for the company, for the job title, specific locations, any specific

Starting point is 00:01:26 nuances, you can always go to websites such as glassdoor.com that are private and confidential. So Glassdoor is also one of my favorite websites that I have used throughout my career journey because it has thousands, I think if not millions of tons and tons of salaries available that you can compare and contrast and really try to figure out whether um are you paid the right number or not and i think one thing on glass glass door it also has is not just the base salary but also talks about the bonus and the overall compensation plan and you can even read reviews about the company as well for you to better decide if yeah

Starting point is 00:02:01 i mean if the company is the company even worth the salary right the only thing i think that's the bad thing about glassdoor is that you cannot find specific information so for example if you want to know the specific salary for this one person like what is the person's job title what is the person's age and how much exactly is this one person making that information is not available on glassdoor it's more of a overall range of a salary after taking into account hundreds if not thousands of salaries so it's kind of like an average but it would be a really really good indicator for you to take a look at before you accept any job offer or really start to figure out whether you are paid fairly or not. So there is also a way to find out very specific salaries as well. So by job title, by age, by industry, by location and all these other more detailed stuff,

Starting point is 00:03:00 what you can do is to go to specific Instagram pages that are really focused on providing salary information anonymously, privately and confidentially. So what you'll find in these Instagram pages and there are actually some really really really good ones as well is you can see the job title, the age, how many years of experience, what is the location, even the booking experience, like, you know, a little bit of a description as well. So there's actually a lot more detail compared to, you know, websites such as Glassdoor, which was what I mentioned earlier. So there are two Instagram pages that I would highly recommend that you check out.

Starting point is 00:03:40 The first one is Malaysian Pay Gap. So this was an Instagram page that really covers a lot of the salaries in Malaysia that blew up quite recently. So there are some really good information in there. The other one I would recommend is again also an Instagram page is the Official Singapore Pay Gap. So Official Singapore Pay Gap. And this is also something that you can check out if you are interested to work in singapore now i'm a career coach and a lot of times a lot of my clients you know connections a lot of people that i meet one of the questions they always ask me is mayping how do i work in singapore and how do i make sure that i am making the right salary when i'm working in singapore right when i'm accepting the job offer so So this is a really good Instagram page, official Singapore pay gap that you can really check out by industry. I really go into a little bit more detail on whether the salary number is the right one for you.

Starting point is 00:04:36 And this may also help you to make a decision on whether you want to look out for new opportunities or anything else like that. The third method to find out your salary is to go to job search websites and job search portals so job search websites while you may not specifically get like the exact number a lot of times they will actually give you a range like the lowest number to the highest number that you can at least get an indicator whether are you on the lower end or are you on the upper end and this is also really good information to help you in your salary negotiation process maybe it's for

Starting point is 00:05:10 a job offer or maybe it's for a negotiation for a potential promotion increment or bonus within your company as well so one of the websites that i have used a lot in my career is on efinancialcareers.com so this is a website that lists down by industry and for a lot of the thousands of jobs that are available quite a number of them actually indicates the range of the salary for that specific position and sometimes they also indicate whether it's a competitive market rate or not so of course right mean, everybody can say that their salary is competitive. But if you do your research and really looking at like the range, like the upper range, the lower range, then I think you can make a decision for yourself whether that job opportunity,

Starting point is 00:05:55 is it even worth your time? And do you even want to make the application to begin with? So check out those job search portals, job search websites. You'll learn that there are thousands and thousands of jobs that you can really just plow through and get a more holistic view on the overall salary for your specific role, department, team, position or even industry. figure out whether you are paid fairly or not and if there is a pay gap is actually to talk to recruiters so these are recruitment agencies recruiting agents recruitment consultants so a lot of times recruiters work very closely with the hiring managers with the teams with the company so they do have very specific information on the kind of money and salary that you can make for a very specific role.

Starting point is 00:06:45 And most of the times they are also very aware of like the current job market rate and realistically what is the kind of number that you can be looking out as well. So my favorite method to attract recruiters attention actually is by having a LinkedIn strategy. And this is something that I also teach to a lot of my clients and students in my program, The Corporate Survivor, but the main goal here is you want to attract the interest of a recruiter for a recruiter to realize that, whoa, you know, this candidate's profile is really great, I really want to speak to him or her, which is you, right? You want to make sure the recruiter feels like, whoa, I really want to speak to him him or her then when you are in a conversation with a recruiter what you can do is then to try to find out okay for somebody with my experience what can i expect and like what would be a realistic salary like how much have other people

Starting point is 00:07:35 made and like what can i potentially do right to make more money or rather the pay that i'm making right now is it like a fair pay and stuff so there are a lot of conversations that you can have with recruiters. There are many, many ways to go about it. But the point I want to share with you here is that it is possible. But first, you need to learn how to cultivate that relationship. And one of the best ways you can do that is utilizing LinkedIn, which is a professional networking platform. And you just want to make sure that you are networking strategically

Starting point is 00:08:09 to make sure that you can really build the strongest relationship possible that you can gather this information for your future career the next tip to gather salary information is to speak to your trusted friends family and network now i also want to say that you know salary is something that is quite sensitive in general. So even though you're speaking to your friends or family, you should not 100% expect that people will tell you because some people, they just don't feel comfortable and that's fine. But perhaps within your network, there could be somebody or someone who has worked in a similar company before

Starting point is 00:08:43 or worked in a similar position before or worked in a similar position before that can share a little bit more insights on what you can expect, and more importantly, the kind of money that you can expect. And this is really something that you can hear firsthand from the person who has already made the money. So this is definitely a really, really good method as well, but probably you can get the best result from this method

Starting point is 00:09:02 if you really have a really good relationship with the person that you're asking this information from. Okay, so thank you for listening to the end of this episode. And now I want to share a bonus tip with you on how you can continue to improve and increase your value so that you can continue to ask a higher salary if you improve yourself and continue to increase that increase the value that you bring to your team your department as well as your company so what does improvement look like and what does increasing value look like it could be maybe technical skills right a certification or a course or it could even be soft skills like interpersonal

Starting point is 00:09:45 skills like making sure that people actually want to work with you because smart people get fired too your determination of wanting to improve yourself your mindset your skill set your visibility your networking strategy your personal branding executive presence all these things are things that you can control if you are taking action in the right direction So if you want to learn a little bit more I do have a paid program the corporate survivor where I do walk through the step-by-step framework on What has helped me to climb up the corporate ladder in my 20s So if you want to learn a bit more you can definitely check out

Starting point is 00:10:16 www.thecorporatesurvivor.co and more details in the description below So that you can actually increase your real value as a corporate professional eventually make a lot more money in the description below so that you can actually increase your real value as a corporate professional eventually make a lot more money in your career so head on over and check it out there is one thing that nobody can actually take away from you and that is you always always always remember that the power is you if you have learned something interesting from this episode drop me a comment below or drop me a message on LinkedIn and let me know. And with that, I wish you all the best in your career journey. Cheers!

Corporate Survivor with Mei Phing : Career Growth In The Corporate World - Ep109: How to find out your pay gap? 5 ways to research!

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