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Ensure Proper Job Match
There are a number of reasons your current pay could fall in the bottom quartile range. Be sure to verify that your benchmark job title is at least a 75 percent match to the responsibilities of your current position. The closer the match, the better your analysis will be. If your actual role includes lesser responsibilities, then you should adjust the benchmark salary range down accordingly. Also, be sure that the company and personal factors are as accurate as possible.
Performance and Proficiency
If you've correctly matched all factors, assess your performance and proficiency in fulfilling your job responsibilities. It may be the case that you still need to gain job skills to proficiently perform your responsibilities at or above expectations. Performance plays a major role in determining your pay.
Are you Underpaid?
If you have properly matched your job and your performance meets expectations, you should arrange a meeting with your boss to discuss your job responsibilities and salary. Work with your boss to find an appropriate benchmark job description, determine its market value and discuss how your performance and proficiency impact your current salary.
When trying to align your job description with a "benchmark" job, the compensation professionals at Salary.com recommend a minimum 70 percent match of your job responsibilities to the benchmark description you are trying to match.
Discussing your job responsibilities and identifying an appropriate benchmark job with your boss is a positive step in determining what your market value is and how you can improve your performance. It will also identify any skills you need to gain.
If you and your boss decide that you are performing your position at or above expectations, then you should discuss how your pay is determined and if a salary increase is warranted.
Find your market value using the Salary Wizard.