“Market value” is a term often heard in talk about real estate and stocks. But what about your own market value? A new free tool helps you discover your worth as an employee.
The salary data website Glassdoor has unveiled the tool, called “Know Your Worth.” Launched this week in beta mode, it’s designed to give you what Glassdoor describes as an “estimated base pay that you should expect to earn in today’s job market.”
Robert Hohman, co-founder and chief executive of Glassdoor, explains:
“We wanted to make salary data more personal. … And for the first time, you can get a really precise prediction of what you can command in the market.”
Know Your Worth determines your market value based on:
- Personal characteristics that you enter, such as current job title, employer, base salary, location and years on the job
- Relevant open jobs
- Your next likely career transition
The tool is private, in that your market value is only shared with you, according to Glassdoor.
Additionally, while the tool requires you to provide your email address to create a Glassdoor account, it does not ask for your name or other personally identifying information.
Keep in mind that your market value is an estimate. As Glassdoor puts it, the dollar figure is “designed to be a starting point to uncover what you and your skills are really worth right now in today’s job market.”
If you uncover that you are underpaid, however, you might want to check out “Want a Raise? 6 Steps for Starting the Conversation.”
Do you feel underpaid? Let us know what you think by commenting below or over on our Facebook page.