Do you know your market value in the professional market?
As a professional, you need to know your market value. How can you have confidence in the skills and abilities that drive your success if you don't know what they're worth? In this post I'll show you why knowing your market value is so important, and how to start thinking about it today.
For all professionals, market value is an important factor in every job search. In fact, knowing your market value will help you find the right job for yourself and negotiate for the salary that you deserve.
To determine your market value, you could research other professionals in your field to discover the industry earning potential. Once you have this information about how much other people are making with similar skillsets to yours (or better), then consider these factors:
·What do I need out of a new job? Do I want more stability? More responsibility? Should I be working somewhere with a great brand ethos? What are my personal values, and can I find a company aligned with my values? The more specific your wish list is, the more likely it is that there's a company out there willing to meet those needs and pay accordingly!
Knowing your market value is important for a few reasons. First and foremost, it can help you decide whether or not to pursue your current career. As mentioned earlier, knowing the salary range for someone who has the same position as you will give you insight into how much money you might make in that position at different companies, which can help inform your decision about where you’d like to work next.
Secondly, knowing what others are earning gives you leverage when negotiating with employers or clients. You won’t have to guess at what rate they would consider reasonable and if they want an hourly or salaried rate; instead, try asking them directly about their ideal budget or ask them how much they typically pay people with similar experience levels as yourself (or even less).
Finally, knowing what others earn gives us an opportunity to create change in our jobs by advocating for better wages from senior professionals without having unreasonable expectations of our own value put upon us.
To understand your personal market value, you need to define what you are good at and identify your unique strengths. There are different ways to do this but the questions below can act as a guide for you in your quest to discover your uniqueness;
Knowledge: What do you know that other people don't? Do you have a specialty topic? Does your experience make you an expert in some area?
Skills: What can you do that other people can't? Are you able to work with different kinds of people and personalities?
Ability: How well are your skills matched up with the job requirements of the position that interests you? Does it match up perfectly or just partially?
Uniqueness (Your Unique Talent): This is the "X factor" that makes you stand out from everyone else. It's what makes people say "That's so YOU!" when they hear about something interesting that happened in your life or read one of your articles.
When you know your value, you have more confidence in your skills and abilities.
As a professional, you're probably not just motivated by money. You also care deeply about your work and finding a fulfilling role that fits your skills. When you know your value, you have more confidence in your skills and abilities. That confidence can help put you on the path to success.
Knowing your value is a great starting point if you are considering alternative job opportunities. It can help you set your own salary, research more suitable job opportunities and negotiate with current employers. It also helps you understand what skills are in demand.
Being clear and confident in your market value is a vital step towards professional fulfilment. It allows you to understand what employers are willing to pay you for your unique skills and talents, allowing you to make better decisions about your career.
Knowing your market value also helps set the tone for future negotiations with employers, enabling you to negotiate more effectively and receive the best compensation possible if the time comes when it will be necessary (e.g., during salary negotiation).
In the end, it’s important to know your market value so that you can be confident in discussing and promoting your skills and abilities. When you know what the employers who want to hire you are looking for, it will be easier for you to find a job that is right for your career goals.