Are You Paid What You're Worth? [Paperback]

Michael O'Malley (Author)

Book Description

Publication Date: May 18, 1998

In this age of downsizing, paycuts, and shrinking health-care contributions, employees on all rungs of the corporate ladder are increasingly baffled by company pay structures, benefits packages, and bonus plans.  What might look like a nice raise on the surface often translates into a virtual pay cut when all the components are figured in.  And what's more, until now, employers have had a monopoly on the knowledge of how these systems actually work, leaving employees virtually defenseless.

Now, in Are You Paid What You're Worth?, long-time corporate insider and compensation consultant Michael O'Malley exposes the inner workings of compensation systems and provides a specific formula that allows anyone--from the cubicle-dweller up to the CEO--to determine his or her own competitive worth.  Packed with practical tips and strategies, and spiced with real-life examples from big-name companies, Are You Paid What You're Worth? arms you with the information, confidence, and strategies you need to:

Compute the overall market worth of your job
Increase your base salary, or negotiate a salary at a new job
Improve your chances of receiving bonuses and other cash/non-cash awards
Know the pros and cons of different equity plans, and what to look for in company benefits
Increase the total compensation package you receive from your employer

Editorial Reviews

From the Inside Flap

In this age of downsizing, paycuts, and shrinking health-care contributions, employees on all rungs of the corporate ladder are increasingly baffled by company pay structures, benefits packages, and bonus plans.  What might look like a nice raise on the surface often translates into a virtual pay cut when all the components are figured in.  And what's more, until now, employers have had a monopoly on the knowledge of how these systems actually work, leaving employees virtually defenseless.

Now, in Are You Paid What You're Worth?, long-time corporate insider and compensation consultant Michael O'Malley exposes the inner workings of compensation systems and provides a specific formula that allows anyone--from the cubicle-dweller up to the CEO--to determine his or her own competitive worth.  Packed with practical tips and strategies, and spiced with real-life examples from big-name companies, Are You Paid What You're Worth? arms you with the information, confidence, and strategies you need to:

Compute the overall market worth of your job
Increase your base salary, or negotiate a salary at a new job
Improve your chances of receiving bonuses and other cash/non-cash awards
Know the pros and cons of different equity plans, and what to look for in company benefits
Increase the total compensation package you receive from your employer

About the Author

Michael O'Malley, a Ph.D.  in psychology, is a practicing management and compensation consultant with over fifteen years of experience.  Currently employed at a major consulting firm, O'Malley has designed compensation programs and benefits plans for more than one hundred major corporations, including PepsiCo, AT&T, Fisher-Price, and Aetna.  He lives with his wife in New Haven, Connecticut.

See all Editorial Reviews

Product Details

• Paperback: 272 pages
• Publisher: Broadway; 1 edition (May 18, 1998)
• Language: English
• ISBN-10: 0767901312
• ISBN-13: 978-0767901314
• Product Dimensions: 9.1 x 6 x 0.8 inches
• Shipping Weight: 12 ounces
• Average Customer Review: 4.6 out of 5 stars  See all reviews (5 customer reviews)
• Amazon Best Sellers Rank: #547,769 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

11 of 11 people found the following review helpful:

3.0 out of 5 stars Does not teach Salary Negotiation or Strategy, February 21, 2001

By A Customer

This review is from: Are You Paid What You're Worth? (Paperback)

In general, this book provides information of how salary schedules and bonuses are determined. In addition, it describes a rather complicated, subjective process of how to determine what your salary should be, but later states that you cannot walk into your bosses office with this information and ask for a raise. There is some information, albeit very brief, of how to prepare for a job performance review and how to ask for a signing bonus with a potential future company, but most of it is common sense.

If you wish to learn how companies set up salary schedules and the like, read this book. However, if like me, you'd rather learn how to negotiate a better salary and benefits with your current or a future company, I'd recommend reading 'Get More Money on Your Next Job..' by Lee Miller.

12 of 13 people found the following review helpful:

5.0 out of 5 stars You'll be armed with information, December 8, 1999

By 

"vic123" - See all my reviews

This review is from: Are You Paid What You're Worth? (Paperback)

Salary negotiation usually makes people nervous, but with this book even the most nervous person can feel educated and confident. O'Malley lays bare the mysterious inner-workings of salary grades and pay ranges. And he throws in the occasional anecdote to give concepts some life. The book's cover statement - "The Book Your Company Doesn't Want You to Read" - is not an idle boast.

3 of 4 people found the following review helpful:

5.0 out of 5 stars Salary.com CEO loves this book, August 27, 2002

By 

Gregory Kent Plunkett (boston, massachusetts United States) - See all my reviews

This review is from: Are You Paid What You're Worth? (Paperback)

This is the best book I have read about compensation, developing a pay structure and understanding how an organization sets pay. It is written to be interesting and understood by normal people with a slight inclination to learning how organizations set pay. Read just pages 30-70 and you learn most of what the book has to offer. To get the raise you need, read that section and then also research actual pay statistics for free on the web or if you are really serious, even buy premium salary reports that give the same numbers HR people use to evaluate "market pay" from salary sections of websites like Monster, AOL, Yahoo, Hotjobs, Careerbuilder and Salary.com. There are two numbers you need to know to calculate ranges of market pay: what do recruiters say you would earn by switching jobs (ask a headhunter or cruise above job boards to research) and what do HR managers report to surveys (look on salary sites). Having an opinion on these two numbers and then applying yourself to understanding the processes described in this book will make you a winner in the career long pay negotiation game. Good Job Mr. O'Malley. Buy and read this book.

G. Kent Plunkett, CEO, Salary.com