How To Estimate Your Worth

A “How To’ Series on Marketing Yourself to Employers

By Lily Henderson

In my article last week I touched up briefly on the importance of knowing what your qualifications are. This week I want to discuss not only being able to list your qualifications, but knowing what value your job experience has brought to you, your former employer, and soon to your new employer. This will help you in how to conduct a proper job search, how to create a polished resume that reflects your value, and give you the confidence to know what you are worth.

How Much Do You Need To Earn?

A very important decision you need to make when looking for a job is how much money you need to earn. There will obviously be limitations to what you can earned, based on past job history and educational background. But knowing how much you want to earn will help you pin point your search and help you to find the job that suits you best. While it may not seem like much of a “decision” it is important for you to determine your “asking price.” What is the minimum salary you need to earn to pay your bills? Do you need to earn the same as you did at your last job? Are you in a position to take an offer to earn less money if you stand to gain more in the future, such as experience in a new field, or more benefits with a lower income? When you begin your job search these are things you need to consider. Whether you are currently unemployed, or looking for a change from your current career, you have to first know what you are looking to earn.

If you are unemployed it may seem like any job is worth applying for, no matter what they are willing to pay, but I urge you to be careful of falling into this frame of mind. An Account Executive who is custom to making $70,000 annually should not take a job working for minimum wage at a local fast food place, unless of course it is the absolute last resort. The last resort being that every Account Executive, Sales Rep, or Administrative Assistant position in your area is filled. Save the fast food jobs for teenagers and college students. Can you really afford to take less than what you are worth for the sake of employment? If the answer to this question is “yes” then apply to any and every job you come across. Just be prepared to continue your job search, on a part-time basis, until you find the job that truly reflects your worth. Ultimately, I would encourage you to hold out for the better job, because if you do beginning your minimum wage job, you won’t have enough time to do a thorough job search, and may miss out on a better opportunity.

What Is Your Experience Worth?

In 2004 I graduated college ready to step into the work force. Bright eyed and bushy-tailed, with my fancy college degree in hand, I was sure that the first job I interviewed for would hire me on the spot. 15 months later I was still working as a cocktail server, making more money than any of the entry-level positions I applied for. I felt stuck and frustrated. When I had interviewed for what seemed like the 700th time for a job that had nothing to do with my major in college I was completely amazed when they called me back and offered me the job. It was a job in sales, working for a company that offered a co-op buying program for independent restaurant owners. My official title was Customer Relations Specialist, and for the first month on the job I wasn’t even sure what my responsibilities were. All I knew on my first day was that I was being paid $15,000 more a year than I had made the previous year as a server. As I learned the position, and what my boss expected of me, I also learned how to streamline my work, increase program membership, and boost the company’s profitability. As my experience within the position grew so did my worth to the company. Four years later, I was making twice what I had earned as a server. When I had made the decision to move out of state and leave my position my boss even offered to pay me more to keep me at the company. Why? Because he knew that I had made him a lot of money, and that losing me would cut into his profits. When I began my job search after moving to Portland, Oregon I realized that I was worth more than an entry-level salary, and began applying for jobs in senior-level positions. It took me less than 3 weeks to find work in Portland. After a year at my senior-level job I had set my sights on an executive level position. I approached my bosses, tried to negotiate myself a better position, and when I was turned down for the promotion I began to shop for my executive level job. Within a week I was recruited by a local telecommunications company in an executive-level position. Just as we matured from infancy, so does the experience we gain as we continue on in our careers. As you learn and grow within your position so does your value as an employee. This offers excellent tools for negotiations.

Negotiating Your Pay

So many people are afraid to negotiate, especially when it comes to asking for a higher salary. It is an unfortunate side effect of being an American. We live in a “price as marked” society, where people are conditioned not to negotiate a better deal. What happens when you visit the marketplace in another country? If you take a step back from your shopping and observe how the locals shop you will see patrons negotiating with the merchants in almost every transaction. In our country car shopping is one of the few transactions where American’s find it acceptable to negotiate. If you are someone who can get a great deal on a new car you are someone who can negotiate a higher income for yourself at an interview. If you are not someone comfortable with negotiating be prepared to take whatever they are willing to give. If you can muster up the courage to negotiate your worth, you might just possibly recognize your value. I will touch up more about this in an article next week, but it is important to mention this week as well. Knowing your value is crucial for negotiating your worth.

Why Not To “Bend” The Truth

When it comes time to update (or create) your resume, or go on an interview you must be able to sell yourself to the employer, this doesn’t mean that you should lie to get the job. Most people will offer the “Hollywood Spin” when speaking about their past experiences. Making yourself seem appealing to the employer by exaggerating your expertise is acceptable, however you can’t say that you have experience in a field that you have never worked. Giving the Hollywood Spin is not the same as bending the truth. The Hollywood Spin would be to say that you have extensive knowledge of Microsoft Office Suite when maybe you are an expert with Word, Excel and Outlook, but are not familiar with operating Access. Bending the truth would be to say that you have payroll experience, when the only payroll experience you have is cashing your own pay check, or summiting your direct deposit paperwork. I have beautiful, mesmerizing brown eyes. Well, I have brown eyes, and when I apply make-up just right they really stand out. Both statements are true, but if you were to read only the first statement, it suggests that my eyes are effortlessly stunning. I’m not lying, or bending the truth, I am simply leaving out unnecessary details. Lying would be to say that I have the most beautiful brown eyes of anyone in the world. It’s important to know the difference between lying and amplifying your experience when marketing yourself to employers. You don’t want to gain the reputation of a “fool’s gold” salesman.

When you are looking for a job it is important to know what you are worth. If you have limited experience look for work in an entry-level position. If you want to make a change in your career path, don’t underestimate what your past experience has to offer. If you have been unemployed for so long that you begin to question your worth you may forget that you have value as an employee. Whenever you feel unsure of what someone with your background should be making I encourage you to do some research. There are websites that will tell you what someone in your field with your years of experience in your local community should be making. Once you see the numbers you will begin to appreciate your worth to an employer.

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