Motivation Monday Podcast | Bookmark and Share

Why Don’t You Understand Your Compensation?

Why Don’t You Understand Your Compensation?

User Rating: / 1
Take Steps

Indeed, most people don’t understand their compensation. That’s amazing, since after all, compensation is the main purpose for having a job. Don’t misunderstand me: most people know their salary, but salary is only a part of total compensation. There’s a lot more that you should know about this subject so that when you’re in the compensation negotiation stage of your interview, you’ll be equipped with the ammo necessary to win. There are two major parts to compensation: the money you make (income) and the money you save (assets). The two parts are analogous to a checking account and a savings account, respectively, at the bank.

The Money You Make

The money you make typically falls into a range based on historical data. But how does your potential employer determine what you should be paid?

In large companies, the process is complex and involved, and certain people in the human resources department work full-time—and exclusively—on determinations of pay ranges. They gather information from a wide variety of external and internal sources to ensure that the company stays competitive. The overall, company-wide compensation policy is determined by a compensation committee, which is a team made up of members of the board of directors.


To Read the Full Article Click Here


Coping With Job Layoff

When people learn that they are about to lose their jobs, they experience a wide range of emotions. This article provides a brief overview and can point you to additional content on this website that may help you figure out what to do next.

Starting a Business

Are you an entrepreneur? Would you like to work out of your own home? Starting a business is a big decision, and it can be very rewarding. Browse this list of questions to help you know if now is the time for you to strike it out on your own.

Copyright © 2001 - 2018 ILOSTMYJOB.COM LLC. All rights reserved. Home Page | About Us | Search | Contact Us

Our mission is to do good for people who have lost their jobs, are involuntarily unemployed, and/or are taking steps to getting back to productive employment. Our objective is to provide useful content and website features that promote successful recovery after job loss and/or unemployment.