How Much Should You Be Paid?

How would you answer the question ‘how much should you be paid’?   Typically the answer is ‘well it depends’.   My question is what does your pay depend on?

In my human resources class we discuss that an individual’s compensation is based on the job not the incumbent in the job.  The thinking is that a specific job is worth a given amount of money to the organization.  Organizations conduct job evaluations based on valid job descriptions to determine the relative worth of jobs within an organization.  Job descriptions typically contain the job duties, job responsibilities, and the knowledge, skills, and abilities required by a position.  The job holder should meet these requirements in order to be successful in the job.  

Based on this evaluation process and external wage surveys, pay ranges with jobs are established.    The Bureau of Labor Statistics publishes The Occupational Outlook Handbook (http://www.bls.gov/ooh/) which provides many job descriptions and associated pay scales.

Please comment in this blog or email me at glynjordan@gmail.com if you know how much you should be paid and if you are in fact being paid accordingly.  

Thanks, Glyn!