When determining your next salary (whether it's a promotion or a new job) assess what the market is paying for those job skills INSTEAD of what you're currently making.
For example:
If you're making $50k a year as an Analyst and you got a job as a Sr. Analyst don't assume you should get at most $8k-$10k more because of your current salary. Instead, assess what the market is paying and if it's $85k a year for a Sr. Analyst role, then that's what you aim for.
Same with selling a house.
Let's say you bought your house for $100k and now you're ready to sell. Buyers are offering $180k for your home. Are you really going to reject it and instead counter offer with a sale price of $120k? You know... since you paid $100k it's only fair you sell it at $120k 😲
Of course not! You sell it at the price of what the market is willing to pay.
Same with your skillset.
Charge fair market prices!
Your current salary has nothing to do with your salary increase for your next job--even if it's a lateral move.
So...Do you base your next salary according to how much you're currently making?
Share your thoughts in the comment section 👇🏽.
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