[List]6 Smart Strategies That Will Increase Your Earning Potential
Passion, drive, and a desire to help others are all things that motivate us in our careers. However, very few of us would show up bright-eyed and bushy-tailed every morning, if we were not getting paid.
In fact, whether we acknowledge it or not, the amount of remuneration we get for working is crucial. Luckily, you can read about 6 smart strategies which should help boost your earning potential.
1/Negotiate your salary before you start
To increase your earning potential, you first need to ensure you never take the initial salary offer that an employer makes. In fact, it is vital that you always enter into negotiations before you accept a role.
Of course, you don’t need to be silly and ask for a 6 figure salary when being recruited for a junior position. However, being aware of the max and min salaries will put you in a stronger place to ask for a wage that hits closer to the top band.
Additionally, you should also regularly renegotiate your salary terms, even when you have been with the same company for a while. In fact, a yearly salary rise used to be a common thing, but businesses tend to focus on performance rather than finance now.
Of course, if you have smashed your performance goals, or are earning your employer big money, a performance review is a perfect time to bring up a raise. Don’t discount this as being one of the more important smart strategies being listed.
2/Don’t discount the importance of attitude
Your attitude in the workplace matters. In fact, positive and motivated people are not only better liked but also seen by superiors as more cooperative and reliable. Qualities that put them in a much better position to be promoted and awarded a higher salary.
Of course, you can go too far with positivity, and a Pollyanna attitude often comes off more as annoying than constructive in the workplace. Instead, you need to focus on minimizing the ‘griping and grumbling’ and maximizing a ‘can do’ attitude when you are asked to perform a task.
3/Do pursue higher qualifications
There is a direct link between the level of qualifications you hold and how much you can earn in your career. What this means is that by having a higher qualification such as a Masters, or PhD, you can significantly increase your potential for earning.
4/Study can be a vital tool for boosting earning potential
Traditionally, however, the problem for career-minded people is they had to leave their jobs to go back to school. Happily, this is no longer the case.
In fact, by finding an institution like Rutgers Online that offers high-level courses, it is entirely possible to continue working full time and study. The benefit of this being that courses are flexible enough to fit around work and life responsibilities.
You can even access course materials from any geographical location in the world. Something that means you can use any downtime on business trips to get ahead with your studies.
5/Don’t forget to log your successes
Next, when it comes to increasing your earning potential, you have to be good at ‘tooting your own horn’ This means you need to be able to quickly list the skills that you are good at, with evidence and examples of where this has positively impacted the company you are working for.
To that end, a log of your successes at work is a precious tool. Firstly, because it can help justify your pay increase requests. Additionally, you can also use this information to update your resume when applying for better-paid positions. Something else that can help you increase your salary.
6/Do consider changing your job
While we are on the subject of applying for higher-paid positions, do remember that, if all else fails, there is one more tactic left. Yes, it’s changing jobs. Explicitly, going to a competitor of your current employer, as they are nearly always happy to offer you more money to poach you away.
That doesn’t mean that you actually have to leave your current job. In fact, informing your employer there is someone else interested in paying you more, often means they will match such an offer.
Of course, you do need to use this tactic with caution. Firstly because if you do it too much, your employer will get annoyed rather than beg to keep you.
Also, your employer could always end up calling your bluff, so you’d better be willing to move jobs if you try this strategy! Otherwise, you may get stuck with a job you don’t actually want, even if it does mean an increase in salary!
I hope you will find these smart strategies a source for self-improvement and better earning potential in whatever field you are in. Much success.
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