Know Your Career Worth! How To Compute Salary in the Philippines
“How much is your salary expectation?”
Anybody who’s gone through a job application, whether for the first or succeeding time, knows the struggle of answering this question. Anything short of the role’s going rate or your actual worth might appeal to a hirer on a budget. But, that could cost you your security, happiness, or even your cumulative come over time when you fail to negotiate your salary early on. On the other hand, suggesting a high salary will certainly work in your favor. However, that could also turn your potential employer down.
To give you the best chance of landing a job with the income you deserve, you ought to know how to compute your salary. While you can always ask around your friends, mentors, and colleagues. But with the availability of online resources that teach you things like how to calculate salary percentage increase nowadays, you can now accurately satisfy all your salary-related curiosities on your own.
What are salary calculator tools?
Salary calculator tools are precisely what they sound like. These are resources in the form of mobile applications or websites that tell you what salary is just right for the job that you are vying for. They also let you discover whether what you are currently earning is the correct amount. Or whether you're earning too little or too much for your skills, experiences, and job requirements.
Like a typical calculator, salary calculators often require information such as your job and the industry you belong to. In essence, with the help of these resources and through the information you provide, you will get answers to the following questions during a job application:
- How much should you receive for a specific job?
- Are you getting paid just enough for your current job?
- What is the minimum pay that you should ask for?
- What is the maximum pay that you can safely demand?
- Can you still negotiate your salary after a job offer?
Also read: 5 Salary Negotiation Tips That Work
Which salary calculator is most accurate?
Upon research, you will find numerous suggestions of the best salary calculators out there to use. But for the most precise insights, make sure to use one that’s tailored to the location where you are working or would like to work in.
Locally, you can use the Salary Guide by JobStreet which is readily available online. You’ll need to enter the above-mentioned data to know what companies are paying their employees presently.
Note that the JobStreet Salary Guide uses data from employer job ads within a 12-month period. That way, you can ensure that the information you are getting is as accurate as possible. On top of the actual salary, the tool also gives you a list of industries that pay the highest according to your specialization. It also shows salary trends and how your current salary fares against the median salary for that job.
How to compute salary using JobStreet’s Salary Guide
To give you a basic understanding of how the Salary Guide works, below are examples of salary expectations that are relevant to various industries in the Philippines. You will only need to:
Step 1: Enter your Specialization, Experience Level, Industry, and Monthly Base Salary.
Step 2: Press Let’s Go.
Example 1
Specialization: Accounting
Experience Level: Rank and File
Industry: Food and Beverage
Monthly Base Salary: Php 15,000
By entering the above sample data, the salary calculator shows that a monthly base salary of Php 15,000 is below the median base pay. The latter is currently at Php 16,230. This is presumably if you are working in the National Capital Region. You can also adjust the location for a more accurate representation of the salaries for Accounting jobs in the Philippines.
More salary insights for Accounting
The same results also tell you that Accounting jobs in the Food and Beverage industry do not pay as high. This is in relation to jobs in Public Service, Consulting, Legal, and Communication Service.
In terms of salary trend, the time between 2021 and 2022 has seen a decline in pay for Accounting jobs. Whereas other specializations have been getting a salary increase between 20% and 25% around the same period. These include Arts, Media, and Communications and Computer and Information Technology (IT).
Furthermore, the Salary Guide suggests that an Accounting job in a Rank and File level should pay within the range of Php 15,418.50 and Php 17,041.50. If you wish to explore higher-paying options, the tool also recommends the following: get a promotion, get a new job, join a fast-growing industry, and get upskilled. To choose one, visit the JobStreet Salary Guide here.
Example 2
Specialization: Healthcare
Experience Level: Supervisor
Industry: Healthcare
Monthly Base Salary: Php 25,000
Suppose you are in Healthcare in a Supervisor role, a monthly salary of Php 25,000 is acceptable considering the median salary of Php 28,750. But that also means that you still have room to ask for a raise or apply for a job offering higher pay. Basically, don’t aim for anything around Php 16,000, which is already considered way below the median base pay for Healthcare professionals.
More salary insights for Healthcare
If you choose to work in the Healthcare industry, you will also be earning relatively more than those in Retail and Trade, as well as Manufacturing. However, if you wish to have a higher income, you can seek jobs in Social Services, as well as Science and Technology. Both industries can give you up to between Php 6,000 and Php 10,000 increase in the same experience level.
In contrast to the best performing specializations, Healthcare professionals have seen a 1.8% decrease in salary between 2021 and 2022. If you are to explore other jobs, the graph also says that you should probably avoid specializations like Personal Care, Beauty, or Fitness Service. Law or Legal Services, as well as Security, Armed Forces, or Protective Services, are also a no-go.
Now, if you want to know the safest you can ask for a salary as a Healthcare Supervisor, you should eye somewhere between Php 27,312.50 and Php 30,187.50
Again, should you want to check out other opportunities for your specialization, you can do any of the following: get a promotion, get a new job, join a fast-growing industry, and get upskilled, among other choices. To choose one, visit the JobStreet Salary Guide here.
Example 3
Specialization: Arts / Media / Communication
Experience Level: Manager
Industry: Telecommunication
Monthly Base Salary: Php 70,000
Are you planning to apply for a promotion or get a job at a new company as an Arts, Media, or Communication Manager? If your expected monthly base salary is Php 70,000, then you will be glad to know that you are on the right track. In fact, the median monthly salary for this job is Php 63,250. The JobStreet Salary Guide also indicates that you can earn as much as Php 90,000 for the same role.
More salary insights for Arts, Media, and Communications
If you are specializing in Arts, Media, or Communication in a Manager role, your best chance of getting the salary you deserve is by working within the Banking and Finance industry. Here, the median salary per month is Php 69,000, which is just Php 1,000 less than your expected salary. However, know that outside this industry and Telecommunication, the median salary is nearly Php 10,000 less.
Salaries for Arts, Media, and Communications experts have significantly grown between 2020 and 2022. This could imply that these are the best times to go after this specialization as it’s performing better than all other jobs in the Philippines, including Computer and IT, one of the highest-paying digital industries in the Philippines for 2022 as per the JobStreet Salary Report 2022.
An expected salary of Php 70,000 gives you enough allowance for a Managerial job in Arts, Media, and Communications. As long as you don’t go lower than the median salary of Php 63,250 per month, then you should be in a fit state. If you still think that you deserve more, you can always get a promotion. Or get a new job, join a fast-growing industry, and get upskilled.
To choose one, visit the JobStreet Salary Guide here.
How much is your salary expectation? Use an online salary calculator now!
Whether you are aiming to upgrade your role in your current company or applying for a new job elsewhere, knowing the right salary for your job will definitely get you far. Not only will it show employers that you’ve spent time researching your role. But more importantly, it will give you more of a chance to earn the amount that you deserve.
With that being said, never underestimate the power of an online salary calculator!
#LetsGetToWork by downloading the JobStreet mobile app on Apple Store and Google Play. Or visit JobStreet, where you can try the JobStreet Salary Guide for yourself! For more chances of getting noticed, update your JobStreet profile and check out some tips at Career Resources Hub.
