We know how tough the jobs market is right now as a result of COVID-19. In response, Glassdoor has produced a number of resources to help job seekers not only find new jobs but also navigate the changing world of work.
At the same time, Glassdoor’s Product team has created new tools to support people’s careers, both now and in the future, with innovative tools. One of these is Know Your Worth™, our popular salary calculator.
Introduced in the U.S. in 2016, Glassdoor’s Know Your Worth calculates an individual’s personal “market value” by using sophisticated data science and machine learning algorithms that leverage millions of salary reports shared by employees on Glassdoor, while analysing real-time supply and demand trends in local job markets, and typical career transitions of people doing similar work.
How To Use Know Your Worth™
Each person’s market value, and pay range, is unique to the individual and is private. It is recalculated weekly and tracked over time.
Simply enter a few personal details into the Know Your Worth calculator. Glassdoor will then plot your 12-month market value on a chart and compare it to the median base pay of similar workers in your local market.
What You Can Do With Your Know Your Worth Market Value
Given Know Your Worth helps you determine your current market value in the job market, you might want to use it to :
Can I Negotiate My Salary Right Now?
Given the current struggles in the UK jobs market right now, be mindful of your employer’s situation before starting a salary negotiation conversation. Many companies will have put in place cost-saving measures such as staff furlough, temporary pay freezes or even pay cuts. Therefore asking for a pay rise may not be appropriate. Every company and worker will have their own unique situation right now.
That said, Glassdoor exists as a destination for people to find a job and a company they love. We do this by being the best place to find insights into jobs and companies – including salary information.
RELATED: Guide: How To Negotiate Your Salary
Through Glassdoor’s Know Your Worth salary calculator, workers in the UK will now have access to real-time, personalised earning potential in this fast-changing jobs market. Knowledge is power and now, more than ever, workers need this knowledge in order to be earning a fair salary.
The launch of Know Your Worth follows the introduction in April of Salary Estimates to job adverts on Glassdoor in the UK, which display a range for annual base or hourly pay and are specific to job title, company, and location. Both tools from Glassdoor are designed to increase pay transparency and help job seekers get paid fairly.