Career Mistake 117: Pricing Yourself Out of the Market

Getting a job is similar to selling a house. Most sellers have an emotional attachment to their house and price it way about the COMPS (market rate). Candidates tend to do the same thing - ask for compensation that is far above the market rate and/or more than their education and experience justify. Same result: They sit on the beach (unemployed) for a year or until they lower their price.

Let's be crystal clear about one thing - anyone that tells you money does not matter....doesn't have any! Careers and compensation are important, however understanding your market value is CRITICAL. It's based on education, professional experience, unique skill set and market conditions.

Keep in mind that if you currently make $100,000, no company will pay you $200,000. Even if I valued you at $200,000, current compensation does play a role in job offers, and no HR executive is going to double your salary.

The good news is market conditions are optimal. Lowest unemployment rate in history, so candidates are receiving "above market rate" offers. Always remember this - the best way to secure a new career opportunity is to understand your market value and price the house appropriately.

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