Topics: Salary · All topics
TarekLondon, UK

I work for a commercial bank in an environment that I love and perform my job well. However, I'm not paid enough and wonder if I should quit for a better-paying job?

Frances's advice

At first glance, it seems easier to get what you want by making a change to something other than what you already have. In your case, however, it appears that the smarter course of action is to try to get your salary increased at your current job since you love it. It's far easier and more practical to find ways to increase the money you earn now than to find another job that pays more while offering the same qualities you enjoy now. Those kinds of jobs don't come along often and you may find that it will take years to duplicate what you already have if you jump ship. Don't underestimate the value of your positive work environment and ability to perform well. It takes far more than a paycheck to feel good about a job.

That said, do some market research to make sure the salary you think you should be earning in your job is realistic. If it turns out you're underpaid by market standards and not just your personal desire, approach your boss with this information and try to negotiate for a pay increase. A good strategy is to figure out your contribution to your employer in terms of the money you generate for it and ask for a share of the profits. Practice what you'll say so you're confident and relaxed when you have this discussion. Role-play with a friend if it will help.

Of course, it's possible you'll discover that your job pays the same as most others like it. If this is the case, you'll need to find ways to enrich your job so that you'll have some leverage to justify an increase in salary.