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Do You Know Your Market Value When Job Searching?

Job searches aren’t just about finding a job. They are also about finding the right job for you. That process involves discovering a position that fits your skills and background, as well as landing a spot at a first-rate organization.  

And let’s face it: the process is also about getting paid. To do this, you need to know what you can demand for your particular skill set. In other words, you have to know your market value when job searching in order to find your ideal situation. 

Putting a dollar amount on your unique mix of abilities can present a daunting task. There are a lot of aspects to take into account. Still, some general guidelines can help you arrive at a reasonable number, giving you something you can use as a baseline.  

Here are some factors to consider as you research your market value ahead of your next job search: 

Evaluate Your Hard Skills

Hard skills are the core competencies required to fulfill a job’s day-to-day tasks. Accountants need training in accounting. Welders need to know how to weld. These are the central skills needed for any job. They are also the abilities that are easiest to attach a dollar value to. 

Your best bet in this area is to see what other people in the same field earn. This will give you a benchmark. Online resources like Salary.com and Glassdoor can help you. 

Take Soft Skills into Account

Soft skills can be difficult to value. Things like communication, leadership, poise, and teamwork play a part in any position. For that reason, it’s hard to separate them out and place a meaningful dollar value on them. (You can’t just google the median salary for a “teamworker.”) 

As a result, think of soft skills as value enhancers or multipliers. Say you have a set of hard skills that justifies a median salary of $50,000 a year. You also have substantial leadership and communication experience. Therefore, you should be seeking a figure above that $50,000 median level.  

In other words, use soft skills to place yourself on the continuum of salaries. Go higher on the scale if you have substantial experience with these key abilities. If you still need a stronger background on some of them, you might be looking at a figure below the median mark.  

Identify Your Strengths

Each worker has a different mix of skills. Employers might have an ideal employee in mind when they start a job search. But, to fill the position, they have to choose among unique individuals. They can’t just pick from a menu of skills. They have to choose a person. 

With this in mind, know your most marketable qualities and focus on positions that rely heavily on that skill. By self-selecting opportunities that suit you, you put yourself in an excellent position. You’ll be more likely to get a job offer and better able to extract the most value out of that situation. 

Match Skills with Particular Job Openings

As you look at job postings, ask yourself a key question: what skills does this position require? From there, you can match your skills to the position. You can customize your resume and cover letter to highlight the abilities best suited for that particular opportunity. 

Think of it from the other side. The company might be using software to search for keywords. Even if they use a more manual approach, HR managers will be hunting for specific skills. The closer you match their expectations, the more likely you are to move on to the next stage of the process. 

Get Better at Negotiation

To a certain degree, your salary is self-determined. Yes, the skills you possess have a certain market-determined dollar value. But your actual earnings come down to what you are willing to accept.  

For this reason, you need to get better at negotiation. That will let you get the most out of the skills you already have. 

How do you get the most out of your abilities and background? It helps to have expert guidance. By teaming with a strong staffing agency, like Recruiting In Motion, you maximize your earnings potential. 

Contact Recruiting In Motion to find your next job. 

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