Who’s feeling well paid for their work? Just over four in 10 U.S. employees say they are well compensated for their work, according to LinkedIn’s latest Workforce Confidence survey. Baby boomers (47%) are happier about their pay than most other workers. Over one-third of Gen Z workers say they feel they are paid well (37%), while millennials and Gen Xers are about average when it comes to pay satisfaction (42% and 43%, respectively). This generational divide is unsurprising, given that older employees are more likely than their younger colleagues to hold senior positions accompanied by larger paychecks. The survey also found a disparity between men and women: 47% of men said they feel well compensated at work, compared to just 39% of women. It also indicates pay could be a strong reason to job hunt — workers actively searching for a new gig are much less likely to be happy about their pay (29%) than workers who aren’t job seeking (47%). How important is compensation to overall job satisfaction? What advice would you give colleagues who are looking to earn more money? ??: Rachel Cromidas ??: Allie Lewis, Bud Rashidian, Karen Bills
3 generations... My grandfather was part of the first UAW Locals he worked on the assembly line at Jefferson East and had 18 kids. My wife's father was a weld process engineer trained at Henry Ford Tech School he could support 9 kids Ask a young engineer today about kids and they can't afford with Mom and Dad both working.... Don't let some web site tell you how "well paid" you are... Wages for employees of all sorts have been progressively reduced decade after decade.... Rest assured your employer will try to "get all they can" out of your hide...
As a Gen Xer, I've always taken a practical approach to compensation. While I've never been one to complain about my pay, I've recognized the importance of supplementing my income to support my family. Throughout my career, I've had various side hustles—from writing freelance articles and teaching as an adjunct instructor to even driving Uber on weekends. Compensation is undoubtedly a key factor in job satisfaction, but it’s also important to diversify income streams and find creative ways to increase earnings. My advice to colleagues looking to earn more is to explore opportunities that align with your skills and passions outside of your primary job. Whether it's a side gig or taking on additional responsibilities at work, there are always ways to enhance your financial well-being while staying fulfilled in your career.
Rachel Cromidas, those looking to improve their pay, should take a page out of the entrepreneur's playbook. They can demonstrate how they provide more value, to get more compensation. And here is what I mean: 1. Identify a pain point within your organization and quantify the impact in financial terms. What is it costing the organization? 2. Show how the work you are doing individually and through others is helping solve the problem. What is the value you're adding? 3. Ask for a raise in pay and perhaps greater influence to drive even more positive results for the company. What is the improvement worth to the company and to you? The win-win. 4. If your employer won't reward performance improvement and positive results financially or otherwise, then take the win and look for another employer that will see your value. More times than not recently, changes in jobs are not seen as negative but a part of finding the right place to make a difference. High performers and those that get things done will always be in demand. If you're not getting what you feel you deserve find out how to make it happen.
I think being well compensated in any position is a motivator for many people, but I also believe that younger generations are starting to value their mental health and having a psychologically safe work environment just as much as being well paid. I think it's very important to know what assets you bring to any organization and seek out companies who will value your talent and be open to paying you what you desire. Don't be afraid to depart from an organization that's not willing to compensate you fairly! After 10 years, I walked away from a position I loved because I had hit the glass ceiling and I felt like my wings had been clipped. It was scary to start over, but it was the best decision I could have made for myself.
While adequate compensation is essential for meeting basic needs and providing a sense of financial security, it alone does not guarantee long-term job satisfaction. People also need to feel valued, find meaning in their work, and have a sense of belonging and purpose within their organization. On the other side of that though, I’d say it’s close to impossible to feel valued and satisfied at work if you are not fairly compensated. If you’re looking to earn more money, list out your accomplishments, bring the industry salary data, and make the ask. If it’s a ‘no’ get clarity on the reasons and if there is a timeline for potential salary growth. If not, you now have more awareness on the value of that job/company for you (not the other way around).
Compensation plays a significant role in overall job satisfaction, but it’s not the only factor. While being well-compensated can enhance your sense of fulfillment, it won’t offset the negative impact of a toxic or high-stress work environment. It’s imperative to negotiate your salary upfront when accepting a job offer. Once you’re in the role, raises through merit or cost-of-living adjustments often fall short of making a meaningful difference. My advice to colleagues is to aim for the highest salary possible from the outset, accept an offer that you can comfortably live with for several years. If you’re looking to earn more, seek out internal opportunities for advancement. However, if growth prospects within the company are limited, it may be time to explore new opportunities elsewhere. Staying with the same employer for an extended period isn’t always the most financially beneficial path.
As I read the comments, I'm realizing there is a subtle difference in the life experiences and career trajectories of the comparator groups in the survey. A 20 something Gen Z employee has drastically different needs than a 60 something Baby Boomer. And that is okay. Period. Now, layer the question of compensation on top of that, and I contend that it is much more difficult (financially) to start a career and family now than it was 30-40 years ago (more than when I did it 20 years ago for that matter). Things are different now. Also, many of us in the older generations have had a career for some time. We are in the higher paying jobs. We're the leaders making the compensation decisions for those younger generations. We have an obligation to them to understand if the pay we provide helps to meet their needs. And I would couple that with our responsibility to our businesses to build and support the best contingent of employees and team members we can assemble. Someone struggling to make ends meet is not going to be able to give their best on the job, let alone provide any discretionary effort. I'll end by saying, whether we agree these numbers are representative of the truth or not, less than half of us are satisfied.
Other than a trending metric, I think the value of this question is minimal -- what people use as determinant for "feeling well-compensated" can be, and is, as different as underwear. I think your approach to increased pay is largely determined by ?????? you feel you aren't compensated well for the work you do. For instance... ???????????? -- if you feel the value you provide, or the skills an potential you bring to the table, is greater than your compensation, then helping others (senior) understand and see your value and contribution is the first order. If that fails, you may have to decide if the organization values the role you have (not you personally, but the role itself). ???????????? -- you feel you aren't being paid what you should be, based on your view of what others are paid around you. This could be based on myriad factors, up to and including simple bias and discrimination. Here, you'll need to decide whether the best approach is fight or flight. Lots of devil in the details here, but that's some food for thought.
First, understand that well-paid careers begin before birth and are largely out of our hands. If not born well, then the best you'll be able to do is build the generational wealth that will put your children and grandchildren in well-paid careers. People who make the most money were born into money, went to private schools where they built relationships with other rich white kids & their families early in life. After prep school, rich kids follow their rich friends into rich kid colleges where they meet other, richer kids, and rich prospective spouses who could exponentially increase net worths. Marrying into a rich family is the oldest and possibly the best way to increase compensation whether born rich or not. If you weren't born rich & white, didn't marry rich, and are all on your own, then understand that money is just frosting on a job you must love doing for +4 decades. The first part of the strategy is to make yourself an expert at doing the work that will make and keep you happy. Know that you may not be able to perform a physical job when you're 65, 55, or even 45, which puts an age limit on most trade jobs. Once hired, you must build relationships with the grown-up rich, white kids who can hire you and be your bosses.
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2 个月Three Key Strategies for Navigating Compensation: Understand Your Value Beyond the Surface: It’s crucial to know what your experience, degree, or certifications are worth—but that’s just the starting point. Ask yourself tough questions: Can someone else do your job better? Could AI replace you? What unique contributions make you indispensable? Feelings of worth are valid but need to be grounded in reality. Position Yourself Strategically: In today’s competitive job market, being exceptional isn’t just about working harder—it’s about working smarter. Understand that feelings of entitlement or fairness don’t always align with market realities. Cultivate a personal brand that highlights your unique strengths and contributions, making your value clear regardless of company or location. Balance Emotional Intelligence with Rational Decision-Making: Emotions can guide you, but they shouldn’t dictate your actions. Acknowledge your feelings, but temper them with logic and clear evidence. When evaluating your compensation, distinguish between what you feel you deserve and what the market supports. This might involve tough decisions—staying patient for the right opportunity or recognizing when it’s time to move on.