You’re working a 9 to 5 job. Daily, you battle with the morning rush and the impossible commute. Coffee runs in your veins. Sleep is a distant dream. But you love your job! Yet sometimes there are things that might stump you as a newbie to the workforce – things like deciding on the fairness of your currently drawn full-time salary.
How does one determine if the cash money they’re getting is quite enough? There are several ways, all of them as reliable as the other!
#1: STATISTICS AND EXISTING DATA
Doing your own research is a sure-fire way to get you data on existing full-time salary ranges and estimate fairness. Job portals such as JobStreet and JobsCentral offer a salary survey and salary calculator respectively that will clear your doubts. It also goes without saying that the Ministry of Manpower has information readily available as well in the form of a wage report.
Sandbox Advisors has provided a list full of links to various full-time salary surveys and data that you can free utilise to determine if your boss is paying you adequately. You can also check out graduate employment surveys for a full range of gross salaries based on degree! Easy peasy!
#2: ASKING THE PROFESSIONALS ABOUT THEIR FULL-TIME SALARY
You can also determine full-time salary fairness by asking other people who’ve slogged it out as well. Talk to older family members, school seniors who have long graduated, and close friends who have considerable experience in the workplace. There is very little doubt that they will share what they know with you, and give you some sound advice to go along with it.
Nicholas Lee, the photographer behind Furry Photos, shares his experience. “Ask people in similar industries who are willing to share. I was someone who didn’t get job offers before graduating but luckily had some friends who did. I had access to their figures and did my own estimation from there.”
#3: YOUR PERSONAL LIFESTYLE
This goes without saying: your lifestyle will greatly determine whether the full-time salary you’re drawing is enough. Nick admits that being able to “survive with a lower income” comes with small sacrifices here and there, including “eating out a whole lot less.”
If you’re someone who likes driving out late at night with friends to grab some supper, you might want to give it more thought – are you going to try looking for something that offers you more money, or is it time to make a change in terms of lifestyle choices? Food is bae, but that love could be a slippery slope.
Money can’t buy you happiness, but it’s a currency you’ll always need to survive in this world. Before jumping into an offer, consider carefully if you’re being adequately paid and if your needs and expenses won’t leave you depleted every month.
The resources above will help you in determining if the bank you’re making is fair and prevent you from being taken advantage of. Don’t be afraid to ask – there’s always gonna be someone you know who can give you advice. And if you’ve finally decided that your income is a fair, reasonable amount – good for you!
All the best!