If I were to ask you how you feel about your job, would your reaction reflect excitement and fulfillment? Or would you sigh with a guilty sense of apathy? All too often, I meet pricing professionals who report the latter, which prompted me to wonder why, and what can we do to help?

Is it a question of salary, with people feeling underpaid and undervalued by their company? Are there enough opportunities to make sizeable upward movements within your organization? And how much of this relates to happiness derived from a sense of meaning derived from your work?

I did some research on the subject, and here’s what I found:

Regarding the power of passion for one’s work, The Harvard Business Review asserts that more than 9 out of 10 employees are willing to trade a percentage of their lifetime earnings for greater meaning in their position. In fact, they found that the pool workers surveyed in this research would “be willing to forego 23% of their entire future lifetime earnings in order to have a job that was always meaningful.” That says quite a bit about how crucial it can be to find a role that is rewarding beyond the paycheck. I call this the “psychological benefit” of a position. In the best-case scenario, we should all strive to find work roles or companies that are fulfilling in both financial and psychological ways.

As for salary satisfaction, a study conducted by payroll processing company ADP found that the largest salary jump tends to happen when someone who has been in a role for at least two years (but not longer than 5) then accepts a position with an advanced title at a new company. This statistic indicates that a culture of stagnant upward mobility within some companies appears to be a predominant issue. How long have you been in your current role? It may be that a change is in order, to break out of your own salary stagnation.

Our 2017 SV Pricing Salary Survey showed that 69% of pricing professionals are open to a new position, but only 5-10% said they were willing to actively discuss it. What a fascinating conflict of intent. Why do you think this is? Let me know in the comments. I’d love to hear your opinion.

With this research in mind, my first advice to pricing professionals struggling with apathy at work is to understand your worth and evaluate how meaningful you find your current role:

· Research the market rate for your position and location using our SV Pricing Salary Survey results, which collected data from over 1,200 pricing professionals across the United States to determine the average salary in most major markets based on job title.

· Explore upward mobility within your company and make your interest known. If you are not earning near your local average, it’s time to self-advocate for a salary increase within your company. Find my thoughts on the best approach toward going for a big raise in 2020 here.

· If a salary increase and upward mobility are not options at your current company, fear not. Our research has indicated over 500 open roles are available nationwide in the pricing space. With unemployment rates at a staggering minimum, competition for these roles is quite low. As a pricing professional, your skills are in high demand and can translate across various industries. Your next challenge may be out there just waiting for you to be ready for it.

· If you find psychological benefits in your current role to be lacking, research other opportunities that may align with your interests. Perhaps there’s a better fit for you in one of the many open pricing positions across the country. Explore what’s available, and see what stirs your curiosity and passion.

Actions like these require courage, research, and connecting with recruiters in the pricing space - but when 1/3 of your life is spent at work, you’d better make it work for you!

When you’re ready, we can help.

Visit https://svpricing.com/ for more information on our services.

Are you happy with your pricing role?