How to Tell If You’re Being Paid What You’re Worth

Determining whether you’re being paid fairly can be tricky, especially in a competitive industry like law. With salary expectations varying widely depending on location, firm size, and specialism, it’s not always easy to know where you stand.  

If you’re wondering whether your compensation reflects your skills and experience, here are a few key factors to consider. 

 1. Compare Your Salary with Market Rates 

One of the most straightforward ways to gauge whether you're being paid enough is to compare your current salary with others in similar roles. Research salary data for your level of experience and geographical area. At Realm Recruit, we publish six-monthly salary guides, provide insights into current pay trends within our specialist areas. If you find you’re earning significantly less than the market average, it may be time to have a conversation with your employer. 

2. Consider Your Full Benefits Package 

It’s easy to focus solely on your base salary, but don't forget to consider the wider package. Perks like bonuses, pension contributions, flexible working, private healthcare, and holiday entitlement can make a significant difference to your overall compensation.  

When assessing whether you’re paid enough, think about the value of these benefits and how they compare to what’s offered elsewhere in the market. 

3. Evaluate Your Job Satisfaction 

Another important aspect to consider is how satisfied you are in your role. Are you fulfilled, challenged, and progressing in your career? Sometimes a slightly lower salary is offset by the personal and professional satisfaction that comes with a good working environment, opportunities for development, and a positive work-life balance. On the other hand, if you’re feeling undervalued or unmotivated, a review of your compensation could be in order. 

4. Factor in Your Experience and Skills 

Your level of experience and the specific skills you bring to the table play a key role in determining your worth. If you’ve recently developed new skills, taken on additional responsibilities, or have more experience than when you first started at your firm, it might be time to reassess your salary. Don’t underestimate the value you add to your team or your firm – ensure your compensation reflects that.  

5. Assess Your Firm’s Financial Health 

Lastly, it’s important to consider the financial health of your firm. If the firm is thriving and growing, there’s likely to be more room for salary increases. However, if the firm is going through challenging times or facing budget constraints, pay raises may not be on the table. Understanding your firm’s financial situation can help you determine whether your current salary is reasonable or if there’s potential for improvement in the near future.  

If, after considering these factors, you feel your salary doesn’t reflect your value, it may be time to speak to your employer or explore other opportunities. Remember, your compensation should reflect not just your current role but also your potential and long-term career growth. 

At Realm Recruit, our vision is for all lawyers to be matched with the right law firms and in doing so help them develop the most successful legal career possible. Whether you're a solicitor, paralegal or legal support professional looking for a new position, we’re ready to help you in your search.  

Check out our latest opportunities or give us a call on 03300 245 606 to have a confidential conversation about your career.