Asking and justifying an increase in compensation can be one of the more daunting conversations that we have in the workplace. People often shy away from that conversation because it leaves us feeling vulnerable or we may believe that we’ll eventually be recognized for our efforts and achieve the compensation we deserve. When we refrain from initiating that conversation with our superiors and are left unrecognized, we tend to opt for an alternative solution – leaving the workplace for another that offers better compensation. This can be a reason why a company has high employee turnover.
In a recent survey of Fishbowl’s industry-specific communities, we asked consultants, accountants, and advertising and public relations professionals: “Based on your level of experience and qualifications, are you happy with your current total compensation?”
The survey ran from October 7 to October 10 and was answered by a total of 4,708 professionals. These professionals could choose one simple answer: Yes or No. Overall, 60.85 percent responded to the survey, with ‘No.’
As a result, we were left with some eye-opening numbers indicating that the feeling of being under compensated is a huge commonality for professionals across three very different industries. More than half of those surveyed in each industry said that based on their level of experience and qualifications, they are unhappy with their current total compensation:
- 60.14% of consultants
- 62.09% of accountants
- 62.32% of advertising and PR professionals
On the flip-side, less than 40 percent of professionals surveyed say that based off their level of experience and qualifications, they are happy with their current total compensation.
- 39.86% of consultants
- 37.91% of accountants
- 37.68% of advertising and PR professionals
This is what some of our Fishbowl users had to say about their level of experience and qualifications versus total compensation.
How do YOU know when your compensation doesn’t measure up against your qualifications and experience? Tweet us @fishbowlapp and let us know.