Finances: Does Your Job Value You?

Does anyone feel safe in their jobs anymore? It used to be that if you were able to get into a big company and last for a few years, then you would have job security. Employers valued experience. Nowadays, this is not the case. There are thousands of layoffs done all the time by Fortune 500 companies. In fact, part of the new corporate philosophy is to hire inexperienced labor to replace expensive workers with experience.

Since there are no guarantees in the workplace, it would be wise to periodically think about your job situation and consider your options. I'm not saying quit your job, but we only have a finite span of years we can work, so we must put our energies into things that will payoff in the long run.

Here is something to consider, is your salary currently comparable to the market value for your skills. Sometimes we work for a long time in jobs because of routine. However, business needs are constantly changing so you should make sure you are being properly compensated. You wouldn't want to miss an opportunity. Here is a salary calculator to help you get started, but there are many such calculators on the web: http://salary.money.cnn.com/

Another issue is pay raises. Are you getting promotions or pay raises at your job? Inflation controls how much things cost. Inflation rises approximately 2-3% a year. If your annual raise was less that that, then you actually took a pay cut. Make sure your employer values what you do. Often times, your skills may be better compensated by a different employer.

Just remember to keep your eyes and your mind open to opportunities.