Recently, I posted a LinkedIn poll and asked: What factor is most important when deciding what to pay someone?

101 people voted. Here are the results:

50% - Merit / Performance

42% - Relevant Past Work Experience

4% - Education / Training

4% - Quantity of Production

I’m not surprised at the results, because I often work with employers who emphasize the performance and relevant work experience factors in their pay decision making processes.

However, when I work with coaching clients on their pay negotiation some are very focused on how much their education or training is worth. e.g., “I have an MBA (or Masters in X) and isn’t that worth some percentage more than someone with a bachelor’s or no degree?!”

My first thought is typically, “Only if you work in higher education.”

At the end of the day, employers care about getting the work done. Most (not all) want you to use your education and training to deliver results.

And that practical application of what you have learned to progress work that is important to your employer is the key outcome you should focus on.

So, if you are thinking about a career change or want a promotion -- show the decisions makers that you have relevant work experience and have some exceptional performance stories to share.

#pay #compensation #humanresources #rewards #performance #jobsearch #negotiation