2.28.2006

TIP: Are you underpaid or 'overtitled'?

via CNNMoney - If you think your salary's unfair, consider this before you demand a raise: It's more likely you have a job title fancier than you deserve... that is, given a fancier title than actual job description merits.

"Over-titling" was a common practice in the tough financial climate of the past few years when, Coleman says, "many people were offered trumped-up job titles in lieu of salary increases. As a result, their actual experience level and value to the company may not be on a par with the salary they expect based on their title."

Indeed, when Salary.com compared employees' job descriptions (not necessarily their titles) with what they currently earn, 30% were found to be "overtitled," while nearly 35% were earning about what they'd be worth on the open market, and 20% were overpaid relative to what they could make elsewhere. Only 15% were actually underpaid.

Obviously, this can make it hard to figure out how much of a raise you could get by changing jobs. If, for example, you recently got bumped up to assistant vice president but without any increase in your real-life responsibilities, you'll get a distorted view of your market value unless you focus your search on jobs whose descriptions match what you actually do, rather than on those whose titles include the words "assistant vice president".

Category: C++ Quant > Fix the Job You Got > Opportunity vs Trap

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