How do you measure employee value

Market value test: do you know your value?

It is a natural and understandable need: we all want to be valued for our work. But in most cases it is at least as important to get paid appropriately for the work done. However, many employees find it difficult to find their own Market value to determine and so many sell themselves below value, for fear of high wages unprofessional or even greedy to appear. However, if you offer your work too cheaply, you will be frustrated every month when you look at the payroll - and this will damage yourself in the long term, as it can take many years until the actual market value is finally reflected through salary increases. So modesty takes you with that Determination of your own market value not further. Instead, you should be realistic and not hide yourself. So you will no longer sell yourself below value ...

➠ Content: This is what awaits you

➠ Content: This is what awaits you

Market value: who is it important for?

The simple answer: for everyone! Admittedly, there are some industries or occupational fields in which your own market value plays a greater role, but in the In the end, the market value decides about how much an employer or even a customer is willing to pay for the service.

So who is here a wrong idea of himself, not only signals to his counterpart that his own work is not worth much, but in the worst case gives away a lot of cash.

Because it is not to be expected that you will be offered a higher payment if you already agree to a lower offer. The market value is particularly important for ...

  • Self employed.

    Anyone who goes into business for themselves with their own company must always be able to do the Value of one's own achievement to eat. The same applies to freelancers. In both cases you try to win customers with your own work. However, this can only succeed if the value of one's own performance has been realistically assessed beforehand.

    In order to outdo the competition, many try to offer a low price, but if you overdo it here, only harms itself, no longer works profitably and on top of that becomes dissatisfied with the situation.

  • Salary negotiations.

    Employees can also benefit from having a good understanding of their own market value. Sooner or later, salary negotiations occur in every profession - either when you are hired or later if you have been with the company for some time. Those who are not aware of their own worth here and are understating, may give away hundreds of euros a month.

    Having a feel for your own market value also helps to appear accordingly in the salary interview and not to be fobbed off with an offer that does not meet your own expectations. Those who are unsure take what they can get - those who know their market value have one strong negotiating position.

But how can you manage not to underestimate your market valuewithout exaggerating or looking greedy?

Market value test: what does your own value depend on?

What's my market value? A question that most employees rarely ask themselves. You are probably like many others: You are more or less satisfied with your salary, it could certainly be a little more and, especially on stressful work days, you would like a higher pay, but the thought of the next raise can be comforting .

Really deal with your own market value? This is usually only done by young professionals who have just graduated from university or have completed their training. They still want to know what their own skills are worth and what salary is attributable to them. An interest that is often lost over the years.

A mistake! Your market value will develop steadily over time - and you should follow this development. Experience, change of employer, successes ... Many things have a lasting impact on your market value:

  • education and study
  • work experience
  • Achievements achieved
  • Evidence of further education and training
  • Image of previous employers
  • Special skills and know-how
  • Your reputation in the industry

Stay up to date with the evolution of salaries in your industry and for employees with your qualifications. You can also get yours personal salary report to get a feel for your market value:

How can you find out your market value?

Additionally there is many more waysto find out, or at least get closer to, your market value. In any case, however, the following applies: Remain honest with yourself. Of course, you can improve your own qualifications a bit in order to tweak the result and in the end have the feeling of having a higher market value - but that will not help you either when no company is ready to turn your excessive ideas into reality.

It is better to have one realistic market value to determine and to put forward appropriate arguments in the salary negotiation that justify a higher number. Before that happens, however, you first need to know where your market value is. It works like this:

  • Talk to colleagues, friends and contacts

    It's not always an easy topic, but if you have good friends or (former) colleagues with whom you get on well, this can be an easy resource to find first idea for your own market value to get. A large network also pays off here, as it increases the likelihood that you will know someone who can provide you with information.

    At the same time, however, a little caution is advised: On the one hand, this information is not 100 percent reliable. It is possible that your contact negotiated poorly and is receiving too low a salary. In addition, you always have to make sure to choose suitable friends or colleagues. Work experience and qualifications are rarely the same. That can lead to differences.

  • Use online portals

    Numerous providers have now recognized the demand and have one appropriate service included in their offer. In order to determine the results, large amounts of data are analyzed and made available to you as a user via a search.

    Often it is enough that you have your Enter job titleto get an average market value. Please note, however, that a salary range is usually given in which your market value is located. It is quite possible that you will receive the information between EUR 2,000 and EUR 3,000 or between EUR 24,000 and EUR 36,000 based on annual income. These are large distances in which you have to classify yourself even more precisely.

    To help you determine your market value, we have a few more of the most famous portals listed for you:

    • - Here you get a quick overview of your average market value, broken down according to different job titles.
    • - This portal also offers the option of entering your city or state and taking this information into account.
    • - Especially aimed at university graduates, you can determine the starting salary and the market value after studying here.
    • - In addition to the average market value for an occupation, you can also display a salary comparison for individual cities here.
  • Keep an eye out for information

    If you want to find out your market value, you have to research and stay up to date. It is quite easy for employees in the public sector or other employees who are paid according to the tariff. They can simply take a look at the corresponding pay table and immediately know how much you earn and how high the market value is after how many years of professional experience and with what qualifications.
    But even if these tables are not relevant for your job, you should always keep your eyes open. It will regular studies and surveys carried out on a wide variety of professions and industries that deal with salary. If you keep your eyes open here and take the trouble to search a little, you will find information on almost every profession that you can use to determine your own market value.

This way you don't sell yourself below value

First things first: Yes, you are underestimating your own market value Light under the bushel and at the same time it costs you money in the form of lower pay. However, that does not mean that you can claim any value for your own achievements. Make yourself aware that your negotiating partners are usually well prepared and informed. In other words: You are well aware of the area in which an appropriate salary expectation - or, for the self-employed, an appropriate price - lies.

Your best option is therefore to appear equally prepared and to show with well-thought-out arguments why your performance corresponds to the stated value. With these seven tips you manage to stop selling yourself below value.

  1. Compare yourself to others

    Not during a salary negotiation, of course - that would be unprofessional and uncooperative. Make these comparisons early on. Get for example Information about the industry standard paymentto find a starting point for the negotiation. Then compare your own abilities with those of others.

    What do you bring with you that others don't? If these skills increase your market value, this also justifies higher pay and can be used as an argument in the negotiation. The more precisely you can describe what constitutes your value, the better you can represent it in a negotiation and the risk that you will sell yourself below value decreases.

  2. Make yourself aware of your training

    Before your professional career your focus was on a good education. You tried hard at school, maybe you were studying, completed an apprenticeship or internship and gained your first work experience. All of which add to your market value. Often we sell ourselves below value because we think we are not good enough.

    If these doubts overtake you again, think back to the strenuous training or the tough examination phases at the university. So you have no reason your To downplay market value - Others will try that often enough.

  3. Don't be too strict on yourself

    Making yourself bad is always easier than finding flaws in colleagues or other employees. The simple reason: Nobody knows your own weaknesses better than you do. Accordingly you critically judge yourself and attach great importance to every error, no matter how small. Knowing your weaknesses and working on them is good, but focus on your strengths for your own worth.

    Your market value is determined by what you are particularly good at and what sets you apart - not because of your deficitsthat everyone else has too. Just because you have made a mistake in the past or see opportunities for improvement in some areas, you do not have to sell yourself below value straight away.

  4. Be realistic about the situation

    Many feel uncomfortable at the thought of saying the value of their own work. The feeling quickly arises that one is conceited or overestimating one's own worth. But be realistic when looking at it: You offer your services on the job market and you have the right to receive one appropriate payment expected.

    you are no supplicant to your employer, but an equal contractual partner. And as such you are of course entitled to negotiate the terms of the employment contract. No need to hover over your head or duck your head so as not to step on anyone's feet.

  5. Ask for constructive feedback

    Feedback, but also criticism, is always a good way to find out something about your own market value. Are your colleagues, your supervisor or your customers always satisfied with your work? If your achievements are well received and have many supporters, this is also a good sign for you increased market value.

    However, if you have received negative feedback lately, it is time to reverse this trend and work on your market value. Perhaps there are corresponding further training courses that not only focus on your performance, but also yours improve overall qualification and increase your value in the long term. Those who are up to date and have knowledge of new developments and technologies are ahead of the competition and can sell themselves accordingly.

  6. Be confident

    Finally, a tip that may seem obvious, but still too often overlooked. You can only credibly represent your own market value if you are confident about it. Believe in your abilities and show by your appearance that you are convinced of yourself and your services and that you are aware of your market value.

    The more facts and information you have gathered, the easier it will be for you to nip in the bud any attempt to depress your market value. It is best not to leave any doubts in the first place, because it gives the impression that you are yourself do not believe in your worth or do not know it, you will find it difficult to convince your counterpart of the opposite.

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November 27, 2020Author: Nils Warkentin

Nils Warkentin studied business administration at the Justus Liebig University in Giessen. In the career bible, he is devoted to topics related to studies, career entry and everyday office life.

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