Increase Your Earnings with a Job Promotion

Getting a promotion can be one of the most direct way to increase your earnings. This could mean trying to get a promotion at your current company or looking for another job role with higher pay. How do you get that promotion? Well, it all depends on the goals you set and how committed you are to achieving them. In this blog post, we will discuss 8 strategies that will help any professional achieve their goals and earn more money!

Get a Promotion at Your Current Company

Ask for a promotion, but do your research first! Think about what skills you need to develop and how can you demonstrate that you have them? Look into the future plans of the company, will they be offering new opportunities in line with your interests or not? If they are not, maybe it’s time to move on and look for a company that is investing in its people. This will help you assess how realistic it is for you to get a promotion.

If the answer is yes, think about what your manager wants from their team? How can you make them more efficient and effective at executing on those goals? What skills are they looking for in new hires or promotions?

Be better than everyone else to show that you deserve the promotion. This sounds obvious, but believe it or not some people don’t put in the amount of effort needed to get ahead. Focus on what you do best and continuously try to improve yourself! You will be surprised how far this can take you. Make sure that your work is always better than everyone else around you so they have no choice but to give you that promotion or new job role!

You should also take into consideration any changes that have happened within the company (new products, new leadership) and how this might affect your chances of getting a promotion.

If you find that there is no way for you to get promoted or if your manager doesn’t want to talk about it with you, maybe it’s time to explore other options!

Look for a New Role at Your Current Company

If you are happy with your job and team, but want to make more money, look for a new role within the company that offers higher pay. Perhaps look at another department that might value your skills more. For example, if you are working as an accountant and want to make more money or get a promotion, look into marketing roles that offer higher pay. It doesn’t always have to be a lateral move!

Look for a New Role at a New Company

If your company is not willing to promote you within the next year or two, it might be time to look outside. This also applies if you are unhappy with the company and want to explore new opportunities. If this is the case, take a look at what skills have been valued by other companies in your area of expertise. How can you demonstrate that those skills? What kind of roles might be available locally or remotely? There are lots of tools out there that will help you compare your salary to expected salaries in different locations. A few examples include Glassdoor, PayScale and Salary.com. If you want an exact number, try negotiating with the company directly!

It is Important to Talk to People

Regardless of whether you are trying to increase your earning potential within your company, or you are looking for a higher paying role elsewhere, it is important to gather information by talking to people. Talk to friends that are working the role you want to get into. Talk to your manger about how promotions occur at the company. Take the opportunity to grab coffee with colleagues and mentors. If you want a promotion to increase your earnings, you’re going to have to prove to yourself that you want it – be aggressive and take action.

Bottom Line

It is important to take into consideration what skills are valued by companies in your area of expertise as well as how much money you want to make. The bottom line is this: if you want a promotion or higher paying role within your company, find out who has it first! To get ahead faster than everyone else, try talking with people about their experiences at work. This will help give you an idea on where they think the opportunities lie for promotions and new jobs – especially when looking for a new position outside of your company.