😅 My candidate’s manager told her she was overpaid.

“You are actually one of the highest paid among your peers.”

“I promise I will promote you next year.”

Does the above sound familiar with you?

⏳ I am sure it happens very often.

We, as candidates, have heard this multiple times.

And we, as line managers, have said this to our subordinates many times.

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☎ A few months ago, my candidate reached out to me for advice.

She has been working in the same bank for 8 years with 2 internal promotions. 

Her banking experience is around 15 years with people management experience.

🔎 However, her salary is similar to that of a 3 year Big 4 Senior Associate.

When she asked me for advice, the first thing I said to her

💰 You are really underpaid in the market.

And I asked her why she didn’t look out.

🔖 She said her manager told her she is already one of the highest paid and believed this idea for the past years…..

I told her she needed to start looking and listening to people who really have banking experience.

📊 She missed out on the best times to change job.

The best time to change jobs in banking was 2 years ago when the market was super hot with 20-30% increment.

📬 Now the market is slow with 10-15% increment. 

I encouraged her to start interviewing to see if she can receive offers higher than her current pay.

🔑 I explained to her that you do not need to trust me nor your manager.

You just need to trust what the market will offer you.

Trust the law of supply and demand.

📍 If you have been looking in the job market and didn’t receive any offers higher than your current job, it means you are somewhat overpaid and vice versa.

Sometimes we will only find out how much we are worth through interviewing and negotiating.

🔥 I hope she can land a higher paid offer soon!

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