What am I worth?

One of the most frequently asked questions from readers is "How do I know what my value is in the job marketplace?" This question implies two things: (1) the reader is job hunting and doesn't know what salary expectations to have; or (2) the reader feels undercompensated, and wants a checkpoint before approaching their current employer.

My first two answers will just sound like a "wiseguy" answer but I'll explain. You are worth what you are willing to accept and what the local marketplace has established as the value for your skills. Neither is a very good answer for a person who wants a specific dollar amount or salary range.

Now let me explain. Salaries, for the most part, are a function of supply and demand. If there are a lot of people with skill A and only a few jobs requiring that skill, salaries are held down. Conversely, if there are very few people with skill A and many jobs available, salaries are driven up.

The variability of skill supply and demand can be very localized. Consequently, national or regional salary surveys can make interesting reading, but can't often be used as a guideline for John Doe's skill value in DesMoines. A survey in DesMoines of salaries paid for John Doe's skills would be very valuable. Unfortunately, there aren't many surveys like that available unless John Doe decides to conduct his own, which isn't a bad idea. However, John may not have the skills or resources to conduct such a survey, and he may hear more lies than truths.

So, how does a person know what they are worth? Tracking the want ads may help a little. Exchanging information within your personal network may help a little. Contacts with recruiters who specialize in your skill set and your geography could help a lot. Conducting a job search is ultimately the truest test because you will find out what companies are willing to offer, and you will also find your threshold of acceptable compensation. Which brings me back full circle to my earlier comments: "You are worth what the local market will pay, and what you are willing to accept." Any questions?

Frank Schoff specializes in recruiting networking and telecommunications professionals at both the technical and managerial levels. If you are interested in discussing career opportunities, or if you need assistance with your recruiting efforts, or if you simply want to debate the merits of Frank's career tips, he would like to talk to you. He can be reached at (828) 884-4118.

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Network World, 11/30/98

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