Are you paid what you’re worth?

Do you think you should be paid more for your position at work? Perhaps you’re paid less than the person who sits next to you but you’re doing the same job? Or do you simply feel you are undervalued? Here are some ways to find out more about your salary.

Young man in shirt with euro banknotes flying around him

Maybe you work at a company head office and your colleagues are “swanning around” in some “gorgeous tropical location” being paid more than you? Or perhaps you’ve been moved overseas but your salary just doesn’t cover the higher cost of living in your new country…clearly not a good position to be in.

There are ways and means of finding out how your salary compares without taking a sneaky peak at your colleague’s payslip.

A global check-up

First of all, you can compare your salary to the average earnings in the country you’re living in – not much use if you’ve been posted to a developing or even emerging country, but if you’ve moved within a global zone it does make interesting reading.

Yellow post-it note: Never undervalue yourself

Each year as part of the Davos World Economic Forum, CNNMoney publishes a Global Wage Calculator. It’s a good starting point (though with several caveats). So, to try the calculator out, let’s say you live in France and you earn €40,000 per annum. How does that compare with the rest of the French workforce? According to the CNNMoney Global Wage Calculator, you are doing well! The country’s average wage is €34,176. The only country in the calculator where the average annual wage is higher than yours is the USA.

Not that it’s particularly relevant, but nonetheless interesting, the CNNMoney results show that you’re earning a quarter of a CEO’s wage in the US; 14 times more than a teacher in Ethiopia; seven times more than a cleaner in China; five times more than a driver in South Africa; and 0.6 times that of an admin manager’s salary in Finland.

An in-country check-up

To get more specific about your salary in relation to your job title in the country where you are living, look at some of the major recruitment sites such as Glassdoor, Indeed, and totaljobs, which all have salary calculators.

File index showing the word 'Salaries'

A city check-up

For a more laser approach, you may have to invest in a salary/cost of living report. Expatistan, for example, provides a paid-for report that gives in-depth calculations about how much you should earn in a new city to maintain your quality of life. A report will include data on cost of living differences between where you live now and where you are planning to move to, so that you can see if the salary you have been offered, or that you have accepted, is sufficient for your lifestyle.

So, there you have it: a calculator to check on the global scale, some ways to check how you’re pay compares to others doing a similar job in your location and a way to get the specific low-down on whether your salary will afford the quality of living you want for you and your family.