Are you keen to earn more in your career? If so, then you need to ensure that you are making the right decisions. There are numerous ways that you can ensure that you can earn more in your career. This could include pursuing a potential promotion or perhaps learning how to find the right opportunities on the market. The key here is understanding what you are worth and having clear goals that are attainable. This could include specific financial points as well as a roadmap to reaching them.
- Choose the right sectors and roles
- Get a promotion
- Build your brand
- Know what you’re worth
- Explore the market
- Side hustle
First, you need to be aware of the right roles and sectors that you should be exploring. It’s easy to find resources online that will provide the right guidance here. You need to make sure that you are concentrating on discovering the roles that pay the most money. The top options worth exploring would be business management, law, and medicine. Be aware that working in these sectors doesn’t guarantee that you will earn a lot of money in your role. Instead, you need to make sure that you are choosing the right position. The good news is that this isn’t that hard to do. For instance, if you are a top lawyer, you could earn hundreds every hour.
Some sectors have the potential for big earnings but you’ll start quite small and build your way up. An example to consider here would be journalism. Journalists get paid next to nothing when they start but it could still be a career worth exploring due to the level of growth available. You just need to understand how to grab a promotion.
So, how do you win a promotion? Well, there are a few ways that you can do this. One of the first is to show that you are committed to giving everything that you have to a business. This means that you shouldn’t be afraid to go the extra mile and put the extra hours in. Most employers will notice this level of commitment and they are also going to reward you for that. You also need to focus on ensuring that you are better suited for greater roles.
One of the ways that you can do this is by not passing up training opportunities that come your way. There are always going to be courses and options throughout the year that you can use to your advantage. This means that you’re more likely to be handed greater responsibilities in a company. Eventually, that will lead to you securing a higher position because you’re more useful to the owner of a business. They will recognize your worth and how they can use it to their advantage.
Of course, you also have to be prepared to ace that promotion interview. A promotion will never be handed to you. You need to impress at the interview, even if you are working for a company.
Next, you should consider how you can build up your brand. This is about winning your dream career if you’re not already part of a major company. The first step to building up your brand is always going to be working on your qualifications. You need to make sure that you have the right qualifications for the position that you want to claim on the market. For instance, a graduate certificate in finance can open a lot of doors in the financial market.
As well as working on your qualifications, you should think about building up your experience as well. A common complaint on the job market right now is that a lot of new workers are simply far too green. They don’t have enough experience to hold their own in a managerial position. This makes them weaker as potential hires in general and it also means that they are unlikely to be chosen for promotions in a business. If you are young, you should even consider unpaid positions for the right company, if it gives you high levels of experience.
It’s always important to know what you are worth. There’s going to be a little haggle when it comes to whether you accept or pass on a business opportunity that exists on the market. Employers expect you to fight back a little on the first figure they offer. Particularly if you are pursuing what could be considered a critical position or role. That’s why understanding your worth is important. It will mean that you know what figure to start with and how to progress from there.
This isn’t the only benefit of knowing your worth of course. You can also guarantee that you don’t fall for positions that aren’t paying nearly as much as they should. Research shows that a lot of people on the job market today are significantly underpaid. You should never feel as though you have to take a job that is going to pay significantly less than you are worth.
You should start by checking resources online. This will provide information about the average pay for key roles that you might be considering taking on. Once you have explored resources like this, you can think about researching different companies to find out exactly how much their team members get paid.
You might also want to be aware of the value of incentives. Incentives are a key part of any job offer. A lot of the time businesses will be forced to offer incentives to ensure that they can gain the attention of the best employees on the market. You need to understand that the best employees always have other options. There are always more paths that they can follow.
In terms of how incentives work, they can be the reason for a pay level that is significantly less than you might expect. The reason for this is that the incentives can be part of the pay. When factored in, incentives can also mean that you are getting paid more than the average. For instance, the best incentives might include options like company care. Or, they could provide options such as health insurance. Things like health insurance are always going to be highly valuable to employees. They want to make sure that they can get the most from a business that benefits their families. Pension schemes can also be more beneficial compared to a significantly high level of pay, in the long term.
It’s also important to explore the job market the right way. Be aware that a lot of high-paid jobs aren’t marketed in a typical fashion. They might not even be fully advertised on the market. Instead, it’s more likely that the employers will use recruitment agencies to find the right people for the job. There’s no harm here but you could benefit by signing up for a recruitment agency yourself. These can essentially act as gatekeepers on the market and are well worth exploring, even if there is an attached cost.
You also need to make sure that you are active on social media. If you are active on social media, then it’s going to be easier to gain attention from employers. A lot of employers do use social media as a key tool to find people to fill the top positions in their company. LinkedIn is definitely one of the options to focus on but Twitter can be great for attracting the right attention as well.
Finally, you need to think about establishing a secondary income. Experts agree that regardless of how much you are earning with your primary income, a secondary income will always be in your best interest. It will mean that you can give yourself the extra cushion of cash that you need. A second income can be tied to your current business career or it can be completely separate. This will depend completely on your situation.
For instance, you might want to think about using your weekends to earn your side hustle. You could do this by tutoring in a subject where you have a lot of knowledge. Alternatively, you might want to think about exploring passive side hustles instead. One example of a passive income that would suit you would be stock. Stock market options are great because they mean that you can earn even if you inject just a little money each month. If you explore penny stocks, you can take advantage of low risks with the potential for massive returns.
We hope this helps you understand some of the key ways that you can earn more in your career over time. If you make the right decisions, you will be able to guarantee that you do get what you deserve from any roles that you choose to take on. You can also guarantee that you aren’t left struggling in roles that are paying you nowhere near what they should be based on your skill and experience.
Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence.