Are You Paid What You Are Worth?
Most people think that they are not being paid what they are worth. In the early 1990s, Robert Half, the employment agency, did a study in the workplace asking people how they rated their own work performance, then asked the employer the same question. The result was (from memory):
- 80%+ of the employees rated themselves as good and above
- 60% of the employees were rated as average by their employers
We have a disconnect here. There are 2 reasons why you are not getting paid what you’re worth:
- You don't know what you are worth, or
- You are not worth as much as you believe
Customers, that have no problem paying $3,000 per day for Vincent Laforet, refuse to pay $750 for your daily rate. They pay the $3,000 because:
- Vincent Laforet is well known.
- Vincent Laforet is a “guaranteed brand”.
- By using Vincent Laforet as the photographer, they are guaranteed to have the “vision” and the photos delivered.
Most often photographers are not worth as much as they believe. If there are reasonable substitutes for your work, and those substitutes are seen as cheaper, then you’re not going to get the work. ‘Worth’ in this case means, “What will it cost me to get something similar to those photos?” and “What will it cost me to be guaranteed that I'll get the quality photos delivered so I don't lose my…?”
Often, a cheaper substitute means buying no photo and getting them for free from Harry in accounting. “Didn't he just buy a new fancy-schmancy camera?” Your weapons are:
- Professionalism: How you look, how you present yourself. Do you look the part?
- Reassurance: You have liability insurance. Right?
- Guarantees: What guarantee do you offer that the photo shoot will be successful? Proven track record, money back…
- Specialization: You are an expert in the field. and I don't mean: specialize in pressing the button…