What is a good paying job?

job search Oct 03, 2020

In a previous post, we talked about what is a good job? If you haven’t read that post, then go back and read it here. But one of the components to qualify something as a good paying job was good pay.

A good paying job is one that best aligns with your amount of experience and industry. In addition, it is something you are satisfied with making.

Where do I find how much companies pay?

3rd Party Websites

Some 3rd parties’ websites (Glassdoor, Payscale) collect information from anonymous users. The thought is that people can be truthful about their earning and views of the company culture because of the anonymity. These websites can give you a range or estimate of pay but I would take them with a grain of salt. From personal experiences, I have seen them be off by $40k for a position and that was for an early professional position. I tend to trust the culture reviews more than the compensation posted but you can be the judge at the end of the day   

Friends & Family
If you have friends or family that work in the industry you are targeting with a similar role and is willing to disclose how much they are compensated I would use that as your best source of information. Sometimes that can be an uncomfortable conversation because people get weird talking about money. But if you have a good enough relationship, they should be willing to at least provide a range to you.

3rd Party Recruiters

You can try to call 3rd party recruiters in the industry and ask around. Recruiters often work with many similar companies in the space so they can be an asset to you. They might not be able to disclose compensation for a specific company but can provide a range for a certain position in a specific industry. Example being “Account Executives” selling software to “Construction companies” make a base salary of $60-75k plus commission (Note- those are numbers are made up just to illustrate the point).in the That should be enough to point you in the right direction to see if the compensation is in line with your personal and professional goals. 

Everything is Relative


Also, it's important to understand that what you or I define as good is all relative. To most people $200k a year base salary is fantastic money. To someone like Jeff Bezos (CEO of Amazon) that means nothing. While Jeff Bezos is an outlier being the richest man in the world now. That doesn't mean the principle doesn't stand. Another example, maybe you are making $50k a year but you are unsatisfied with your salary. However, there might be someone who grew up in poverty and to them $50k a year is a gold mine. At the end of the day, how you view things is all relative. 

To wrap up, a good paying job is one that fairly compensates you based on your level of experience compared to your peers in the same industry and that you are content with it.

 

 

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